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The Importance of Cyber Liability

By Business Insurance

As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy will only continue to grow. The continued rise in the amount of information stored and transferred electronically has resulted in a remarkable increase in the potential exposures facing businesses. In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, or an ill-advised post on a social media site can be read by hundreds in a matter of minutes, protecting yourself from cyber liability is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.

Why Cyber Liability Insurance?

A traditional business liability policy is extremely unlikely to protect against most cyber exposures. Standard commercial policies are written to insure against injury or physical loss and will do little, if anything, to shield you from electronic damages and the associated costs they may incur. Exposures are vast, ranging from the content you put on your website to stored customer data. Awareness of the potential cyber liabilities your company faces is essential to managing risk through proper coverage.

Possible exposures covered by a typical cyber liability policy may include the following:

  • Data breaches: Increased government regulations have placed more responsibility on companies to protect clients’ personal information. In the event of a breach, notification of the affected parties is now required by law. This will add to costs that will also include security fixes, identity theft protection for the affected and protection from possible legal action. While companies operating online are at a heightened risk, even companies that don’t transmit personal data over the internet, but still store it in electronic form, could be susceptible to breaches through data lost to unauthorized employee access or hardware theft.
  • Intellectual property rights: Your company’s online presence, whether it be through a corporate website, blogs or social media, opens you up to some of the same exposures faced by publishers. This can include libel, copyright or trademark infringement and defamation, among other things.
  • Damages to a third-party system: If an email sent from your server has a virus that crashes the system of a customer, or the software your company distributes fails, resulting in a loss for a third party, you could be held liable for the damages.
  • System failure: A natural disaster, malicious activity or fire could all cause physical damages that could result in data or code loss. While the physical damages to your system hardware would be covered under your existing business liability policy, data or code loss due to the incident would not be.

Human Resource Services

By HR Services

Our Human Resource Consultants are here to help you with your next big HR project, whether it’s an employee handbook, full HR audit, training, or assistance with a disciplinary issue, termination, hiring and onboarding, or developing new processes. Check out a list of all they do!

Contact Maria Clyde (mclyde@bhi365.com) or Anika Dzwilewski (anikad@bhi365.com) to see just how they can help you!

Delaware Business Times: Fastest 50

By Insurance

 

BHI provides insurance brokerage and risk-management consulting services to clients in the mid-Atlantic region. We offer business insurance, home and auto insurance, employee benefits, and are adding safety and human-resources consulting within the last two years. Our foundational principles are: Communicate, be accountable, act with integrity, and constantly evolve. Through these principles, we hope to show our company’s philosophy of “our product is our people.”

What have been the biggest obstacles your company has faced over the past three years, and how did you overcome them? In
February 2016, I purchased the company and rebranded. Executing a new vision with a new leadership team was challenging, yet very exciting and successful.

Looking back, what’s the biggest mistake you made and what would you do differently if you could?
I prefer not to look back. We are where we are today thanks to our past decisions, both good and bad, and I would not change where we stand today.

What is the most valuable lesson you’ve learned over the past three years?
A work/life balance is a must not only for employees, but those responsible for making very tough decisions on a daily basis. One must take the time to celebrate victories.

How do you keep your team inspired and focused on the future?
Our culture is a top priority and we reward our team for working hard. Our common goal is to take care of our clients. Our client-service model is born from my obsession with providing the absolute best service experience every time.

 

Article and Video by Delaware Business Times
Photo by Eric Crossan of Delaware Business Times

Seven Insurance Policies for Businesses

By Business Insurance

With so many different types of insurance to choose from, it can be overwhelming to determine what type is best for your business. B+H Insurance, LLC is here to help explain the types of insurance policies available and how they can help protect you, your employees and your business’s bottom line.

Commercial Property Insurance

In the case of a catastrophic event such as a fire, explosion, burst pipe, storm or theft, commercial property insurance compensates you for losses or damage to your building, leased or owned equipment, and other property on the premises. In fact, commercial property insurance can cover items such as furniture, inventory, computers and anything that would be considered necessary for performing normal business operations.

Commercial property insurance is typically purchased as a stand-alone policy or as part of a comprehensive business owner’s policy that includes property and general liability coverage. Commercial property insurance is offered on either a replacement cost or actual cash value basis.

General Liability Insurance

General liability insurance policies typically cover an organization for claims involving bodily injuries and property damage resulting from its products, services or operations. What’s more, this form of insurance can help cover medical expenses and attorney fees resulting from bodily injury or property damage claims for which your organization may be legally responsible.
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How Can You Be Better Prepared for an Audit?

By Business Insurance, Business Tools, Insurance

Audits Don’t Have to Be Scary

Take a look at this video that was designed to help you understand General Liability and Workers Compensation Audits. Understanding the Audit Process can help you be better prepared for future Audits to come.

Click the link below for a helpful checklist to make sure you have everything you need!

Audit Checklist

 

We’re here when you need us most.
Call, email or stop by.
111 Ruthar Drive
Newark, DE 19711
Phone: 302-995-2247
Fax: 302-995-2220
Insurance@BHI365.com

 

 

Sexual Harassment – Prevention Is the Priority

By HR Services

Sexual Harassment Workplace

Sexual harassment is a serious problem in the workplace and unfortunately, has been for years. Times are certainly changing as now five states in the U.S. have mandated that companies conduct sexual harassment training – California, New York, Maine, Connecticut and Delaware. Regardless of a training requirement, many companies can easily fall into the “not us” trap of complacency. This mindset leads managers and leaders to overlook claims or not investigate them properly, and employees to not report them all.
Read More

We Are BHI

By Business Insurance, Employee Benefits, HR Services, Personal Insurance, Safety Services

We are BHI

An independent insurance agency that provides Insurance,
Benefits, Human Resources, and Safety Solutions
to businesses and individuals in
the mid-Atlantic and beyond.

 

 

We’re here when you need us most.
Call, email or stop by.
111 Ruthar Drive
Newark, DE 19711
Phone: 302-995-2247
Fax: 302-995-2220
Insurance@BHI365.com

 

Is Employment Practices Liability Insurance Necessary?

By Business Insurance, Specialty Insurance

From hiring new workers to assigning duties, each of your decisions affects employees in a unique way. Although these actions are critical to running your business, they also create exposures that could lead to costly claims by employees or governmental regulators. Even if they are not warranted, claims for wrongful employment practices can disrupt operations, damage your business’s reputation, hurt employee morale and negatively impact your bottom line.

Thankfully, businesses can rely on employment practices liability (EPL) insurance to protect against a wide range of wrongful employment practices claims, including wrongful termination, discrimination, sexual harassment and retaliation.
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The Importance of Social Media in Business

By Business Tools

It’s safe to say social media isn’t going anywhere anytime soon—millions of people around the world use social media on daily basis. Even more importantly, it has become a daily business function for sales and marketing departments, and a powerful tool for reaching new customers and increasing brand awareness as it has never been easier. My name is Logan Worsh; I have been with BHI for a few months now as a Client Experience Specialist and have been handling their social media platforms. Continuing reading for what I have found to work best during that time.
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