Watch Out for the Newest Cyber Threat: Ransomware

| posted in Blog

The cyber-security stakes have gotten higher for enterprises with the recent news that a hospital in Los Angeles had to fork out $17,000 to pay cyber criminals after they crippled its network. The ransomware that infected Hollywood Presbyterian Medical Center and the ransom they had to pay the hackers to unlock their system reflect the newest danger facing any organization that has a computer network. The hospital’s case is not an isolated one, and experts are warning that cyber criminals have increasingly switched their targets from big companies to small and mid-sized businesses as their networks are easier to infiltrate,…
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Think like a risk manager to reduce your insurance costs

| posted in Blog

All large corporations and national businesses have someone in charge of risk management, if not a whole department. But hiring a risk specialist or dedicating a number of employees to that kind of work is typically too expensive for most small and mid-sized companies. So, this risk mitigation typically is left to the business owner or the duties are spread among senior managers. One way that you can reduce the risk to your finances is to purchase appropriate insurance coverage, which can sometimes be expensive. However, if you focus on managing your company’s risks, you can do more than solely…
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Business Umbrella, Excess Liability Insurance Essential as Costs Rise

| posted in Blog, Newsletter

As a responsible business owner you no doubt make sure that you are properly insured for any liabilities resulting from damage to other parties. Imagine some of the following scenarios: • What if a visitor trips and falls at your business, breaking a leg and is unable to work for a few months while they recover? • What if a customer suspected of stealing later proves their innocence and sues for defamation of character? • What if one of your employees, driving a company truck, rams into a passenger car and severely injures some of the occupants? The costs of…
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Protecting Your Business from Wildfire

| posted in Blog

As wildfires rage in California and elsewhere in tinder-dry areas of the US, now more than ever you need to make sure that your business is protected from the threat. Whether you own or operate an apartment complex, convenience store, office, motel, restaurant or other retail establishment, the steps you take now will reduce the risk of costly repairs or rebuilding if a wildfire strikes. If you are located in one of the many tinder-dry areas this year, you need to consider the possibilities that fires can start near your business – and, if so, are you prepared to deal…
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Address Risks of Cloud Storage before Making Switch

| posted in Blog, Newsletter

As cloud data storage becomes more ubiquitous, you may be considering migrating many of your company’s storage functions to a cloud service. Going with cloud storage can save you money in terms of data storage and hardware, but there are also issues you need to consider, particularly: • Accessibility • Dealing with data loss and recovery • Escrow agreement with provider • Continuity after termination • Ability to handle advanced workloads First and foremost, you should not focus exclusively on cost as it is just one parameter you have to consider when initiating a cloud service. One of the most…
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Employees Responsible for 85% of Trade Secret Theft

| posted in Blog, Newsletter

Trade secret theft by employees is a serious and growing problem in the U.S. According to an analysis of federal court cases, 85% of such theft is committed by employees or business partners. And while that’s disturbing enough, there’s been a significant escalation in the number of trade secret thefts over the years: cases doubled from 1988 to 1995 and again from 1995 to 2004, and they are on track to double yet again in the next few years. According to a study by PricewaterhouseCoopers, suits brought against former employees over restrictive covenant agreements increased 60% in the 10 years…
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