Monthly Archives: September 2017

Cyber Liability

Data Breach Unsecured Warning Sign ConceptCyber Liability – Data Breach Protection

If you run payments or have sensitive client information you need to consider purchasing a cyber liability policy to protect you from the financial hardship of cyber losses

Nearly all businesses are susceptible to a cyber attack. Besides internet dangers, cyber attacks can also include computer hardware problems, communication media errors, backup and operating system errors and fraud. Your general liability policy may not cover cyber risks and include loss of control over sensitive customer data.

Common causes of cyber related losses include:

  • Human error: Unintentional acts such as leaving a laptop that has access to patient medical records at the airport.
  • Intentional: Illegal criminal activity can occur outside the organization by hackers or criminals, or come from inside the organization.

Cyber Risk Liability policies can be tailored to your needs and do not have to be expensive. Look for a policy that covers business interruption and other aspects like notifying customers of data breach and hiring a PR firm to manage your public image. Some of these policies can also assist you before you are cyber-attacked.

Contact the experienced professionals at Cobb-Hall Insurance to provide solutions designed specifically for your needs.

Excerpts from: Trusted Choice/ Independent Insurance Agents

Steps for Handling A Business Loss

What to do in Case of a Business Loss

At the time of a loss, sometimes it is difficult to know what steps to take.  Your insurance contract Emergency exit signsrequires that you report all claims promptly, so be sure to contact them as soon as possible after a loss. Once the insurance company assigns an adjuster, you will be able to deal directly with the adjuster to settle your claim.Your agent is there to help you, so if you have any delay or problem settling your claim, be sure to contact your agent.

Here are some tips to assist you in case of loss.

Property Claim

  • Contact proper authorities. (Fire Department, Police, Etc.)
  • Protect property from further damage.Contact: Utilities (gas, electric),                                      Contractor (board windows, cover hole in roof)
  • If possible, take photos of damage before emergency repairs are made.
  • Call your agent/insurance company to report the loss. An adjuster will be assigned.
  • Discuss the next steps with your adjuster. (what contractor to call, when to schedule repairs, etc.)
  • Be sure to keep a record of costs and retain receipts.

Automobile Claim

  • Contact the police.
  • Stay safe and out of traffic. Warn oncoming traffic if needed.
  • Check if medical assistance is needed. Call an ambulance if necessary.
  • Collect information: vehicles, drivers, address & phone numbers, license & plate numbers, insurance policy numbers, police report number, witness contact information, etc.
  • Call your agent/insurance company to report the loss.
  • If vehicle is not drivable, have it towed to a repair shop.
  • Discuss the next steps with your adjuster. Do not authorize repairs before the adjuster gives authorization.

Liability Claim- In the event of injury or property damage you allegedly cause

  • If injury is involved, provide assistance and call an ambulance and/or the police if necessary.
  • Obtain details: name, address, contact information for those involved, witnesses, description of event, etc.
  • Call your agent/insurance company to report the  incident.
  • Forward all correspondence, including attorney summons and court documents to the insurance company.
  • Refer all claim questions to your adjuster, including from the other party’s attorney.

Workers’ Compensation Claim

  • If injury is involved, provide assistance and call ambulance and/or police if necessary.
  • Obtain details: name, address, contact information of those involved, witnesses, description of event, etc.
  • Complete state-mandated accident reporting form (form 100). Contact your insurance company/agent to obtain this form.
  • Contact your Workers’ Compensation Insurance company or agent to report the incident.
  • Forward all correspondence, including attorney summons & court documents to the insurance company..
  • Follow instructions from your adjuster and refer all claim questions to your insurance adjuster.

Contact the professionals at Cobb-Hall Insurance to provide solutions for your business insurance needs.

Disability Income Insurance

Protect Yourself with Disability Income Insurance

When an illness or injury leaves someone temporarily or permanently unable to perform their job, Protecting Your Assetsmost people immediately begin to worry about how they will pay their bills. Few people could afford to be out of work for several months or even years without the benefit of disability benefits. Social Security can bring lengthy waiting periods or disqualification. For most workers, an individual disability policy is the best way to ensure adequate income in the event of serious illness or injury.

Disability Income coverage is especially important for self-employed or contract workers. With disability insurance, you can expect to receive up to 66% of your previous salary. However, disability benefits are not taxed, which often makes up for much of the lost income.

Short-term income protection insurance provides coverage for a limited amount of time, typically after a short waiting period of up to 14 days. You are then covered for the length of time specified in your policy, which can be from several months up to one year.

Long-term income protection covers injuries and illnesses that prevent you from working for a long period of time. There may be a longer waiting period before receiving benefits, but benefits can last for several years, until you reach age 65 or you recover.

The experienced professionals at Cobb-Hall Insurance can assist you with protections designed specifically for your needs.

Excerpts from post:  By Ryan Hanley , Trusted Choice.com., Agency Nation 

Best Home Video – Home Inventory

Best Home Video – Home Inventory

Imagine trying to list every possession you own along with each item’s worth after your home as beenhome video photo destroyed by fire or a natural disaster.  The task will feel overwhelming.  Having a detailed home inventory can make the difference between a paid and a disputed claim. Do not rely solely on your memory.

Consider these tips

  • Discuss your homeowner’s policy with your agent. Are you covered for the replacement value on your possessions or only the depreciated value? You may need special coverage if you have expensive collections or unique items like musical instruments, firearms, golf clubs, etc.
  • Take photos and/or videos.
  • Photograph the outside of your house from at least four angles. Be sure to photograph your home’s landscaping, outdoor furniture and decorations.
  • Make a room-by-room photographic inventory. Take as many pictures as needed to inventory every room in your house. Be sure to document items in closets, cupboards and drawers, noting when and where items were obtained and the cost. If possible scan receipts to keep with your home inventory. Clothes, shoes, purses and jewelry can add up. Take separate photos of items over $350 in value.
  • Electronics are major purchases. List and photograph model and serial numbers for electronics including televisions, stereos, computers and mobile devices.
  • Lay out a full set of your china, silverware or other valuables and photograph. Include a picture to show the brand and pattern. Then count and photograph where the items are stored to show the number of sets you own.
  • Take photos of things that cannot be replaced.(family photographs. mementos, heirlooms) Although these items are irreplaceable, make copies so you will have a record of the items. Remember to discuss rare or high end items with your agent and photograph separately.
  • Inventory the garage. Document bicycles, sports equipment, tools, lawn mowers and other items stored in your garage.
  • Remember to inform your agent of major updates. Include photos of window coverings, hardwood floors, finished basement, decks etc.

Store the home inventory off premises. E-mail a copy to yourself and use cloud storage to keep copies electronically or save on a flash drive and keep it in a safe deposit box. Don’t save the inventory only on a computer drive that could be destroyed.

Contact Cobb-Hall Insurance for solutions designed specifically to meet your needs.

 

 

 

 

How Umbrella Coverage Protects You

Why you may need Umbrella Insurance Coverage

A rain umbrella protects you from getting wet, but doesn’t stop the raindrops from falling. Umbrella insurance is similar, it does not prevent disaster, but it can save you from the financial consequences. In our litigious society.Umbrella Protection

Personal

Accidents happen, when they do you may be held legally responsible for injury, damage to property and legal fees. These can quickly escalate to hundreds of thousands of dollars. Some examples are:

  • While driving, you cause a serious accident.
  • Your dog escapes and bites a neighbor, causing extensive medical costs.
  • Your child’s friends are playing on your trampoline and one falls, suffering serious injury.
  • You publish a newsletter on the Internet and wrongly accuse a state senator of a crime.
  • Your drop a friend’s valuable antique, which shatters on your garage floor.

If you have assets, including retirement savings, college funds, home equity and other assets, you are at risk. An umbrella policy provides peace of mind as the premium you pay for protection is very low.

Business

An accident with severe injury can result in substantial medical care, lost income and other expenses, sometimes taking years to determine the extent damage.  Your business is responsible when coverage provided by your policies is not enough to meet the amount of a loss.. Umbrella Liability coverage can protect your business from bankruptcy and serious financial hardship by providing defense coverage and additional limits to pay large judgments.

Contact Cobb-Hall Insurance for solutions designed specifically to meet your needs.

 Excerpts from: Insurance Publishing Plus, Inc. 2014