Homeowners insurance is a highly customized product, meaning what you pay depends on a unique mix of personal and property-related details. Understanding what insurance companies look at when calculating your premium can help you make informed decisions and better anticipate your costs. According to NerdWallet, the average annual cost of homeowners insurance in the U.S. […]
In today’s interconnected world, the question is no longer if an organization will face a cyber incident, but when. The digital landscape, while offering unprecedented opportunities for growth and innovation, also presents a complex and increasingly perilous environment. Every business and non-profit organization, regardless of its size or sector, operates within this dynamic reality, where […]
reprinted with permission – Philadelphia Insurance Companies. The earliest iterations of cyber insurance covered liabilities associated with network failures or breaches of private data – if your system security failed for any reason, cyber insurance covered the cost of the response. Traditionally, the retail, healthcare and financial services sectors were the top buyers of cyber […]
Hurricane season in North America runs from June 1st to November 30th. While hurricanes are known as a concern for the southeast region of the country, 40 of the 50 U.S. states have experienced hurricanes or tropical storms since 1866, according to FEMA. With that in mind, we recommend the following tips and resources to help […]
There are more than 1,000 residential fires per day, which in 2015 resulted in $7.2 billion in direct property damage and took 2,605 civilian lives, according to the National Fire Protection Association (NFPA). A Philadelphia Insurance Company study found that the leading causes of residential fires among its policyholders were electrical issues, smoking, and cooking. Additional […]
The best time to prepare for cold weather, snowfall, ice accumulation and storms is before winter sets in. Here are some tips to consider for protecting you home and family: Freezing temperatures -Have all furnaces serviced and chimneys inspected and cleaned. -Check your home’s perimeter and seal any air leaks with caulk and weather-stripping. Add additional insulation […]
Employment practices liability insurance (EPLI) coverage is on the rise – “with the biggest growth coming from small and midsize companies,” according to a recent Washington Post article. The barrage of high-profile sexual misconduct accusations in the news is no doubt fueling the take-up rate, which is already at 41 percent for large firms. In particular, […]
There is no doubt that the costs of a cyber incident can be staggering, with first party breach response expenses, business interruption loss, and third party litigation all having a noticeable impact on the bottom line. In some cases, the fallout may affect a brand’s reputation, strain a company’s ability to serve customers, or prevent […]
MYTH #1 Insureds in a high risk class of business will always have a high mod. FACT #1 Most top markets offer loss control services, which help reduce the frequency and severity of claims for any class of business. MYTH #2 All carriers would handle the same claim the same way. FACT #2 Some carriers […]
Graduating high school and leaving home for the first time can be an exciting, and, in some ways, overwhelming, experience. In the excitement and anticipation, parents and students tend to overlook the fact that college students may encounter many insurance issues which have not been considered. So, before there’s an auto accident, a fire in, […]
