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Insurance Blog

Now offering Hartford for Commercial Insurance

TheHartford-LOGOApril 2018– We are happy to announce that we now offer business insurance solutions from The Hartford. “The Hartford is a very reputable brand with solid products to suit many of our customer’s needs. With their Business Owner’s Policies, Worker’s Compensation, Commercial Auto, Commercial Property and General Liability Insurance offerings, we are now even better able to find the best fit for our broad client base,” said David Keslar, President of Keslar Insurance.

About The Hartford: For more than 200 years, The Hartford has helped people prepare for the unexpected, protect what is important to them and prevail through life’s challenges and opportunities. The company’s success comes from their commitment to doing the right thing, while adapting and reinventing to remain relevant and indispensable to our customers. www.thehartford.com

Interested in learning more about The Hartford’s commercial offerings or discussing other business insurance coverages? Please contact us. We offer a large number of solutions for general liability, Business owner’s policy  (BOP), commercial auto, worker’s compensation and more. We have partnered with many leading commercial insurance carriers to make sure we can offer the right products at the right prices.  We’d love to help you! We also offer home, auto and life insurance to provide one stop service of all your insurance needs. www.keslarinsurance.com or 603-273-0953.

Cyber-attacks are a real threat to most small businesses.

Cyber-attacks are a real threat to most small businesses.

Many businesses think- “I don’t keep my customers personal data, so I’m not at risk of a cyber attack.”. That isn’t completely true.  If you do collect any personal information for any reason, including employee data or prospect information or more you may be at risk. Many assume that because they are using a third party software product that they aren’t responsible. This also isn’t true. Anytime you collect any type of personal information, you could be putting yourself at risk.

Cyber attacks aren’t always done by someone in a foreign country looking for information from big stores. More than 50% of attacks are on small businesses.

This happens a wide variety of ways. For instance, did you know email is the most popular method to get data? They often use legitimate login information. One common ploy is that someone will pretend to be your “support” personnel and ask unsuspecting employees to give login information.  Another common problem is when laptops are lost or hacked. Another common situation is when an employee is working remotely using public wifi.  Furthermore, the “bad guys” are still finding success with phishing schemes. Some claims have come from instances where a disgruntled rogue employee steals names, addresses, social security numbers and other personal information from customer files.

Some other real world examples include:

A manufacturer nearly transferred $315,000 to China based solely on an email request to pay for raw materials that appeared to be legitimate.

A man sent an email to his ex-girlfriend hoping to monitor what she did on her computer. She opened the email on her work computer, and over the course of two weeks, the spyware emailed the man more than 1,000 screenshots of confidential data on 150 customers.

If any of these things happen to you, finding and remedying the issue can be very costly and slow. There are very specific steps you likely have to take. For instance, at least 47 States require notification of breach to customers.  This has to happen a certain way and at an expense to your organization. Furthermore, if you have a breach or loss, everything stops in your business until you address the situation. This may require forensic experts, steep legal fees and more. The expense of resolving this can be in the hundreds of thousands of dollars or more.

How do you minimize these risks? Your traditional business insurance doesn’t typically cover this type of situation. Fortunately, there are now additional insurance solutions available to help not only cover the cost of paying to notify all clients, hiring forensic experts, data restoration expenses and other required legal steps, but the insurance companies often have a team of experts to help you address the required steps and get your business running again even more quickly.  Check with your insurance agent to see where your most likely risk are and what products can best protect you in the event of a cyber-attack.

Have more questions on Cyber risk? Need help with commercial insurance? We’d love to help. We can be reached at www.keslarinsurance.com or 603-273-0953.  Keslar Insurance Agency is an independent insurance agency offering business, home, auto and life insurance in NH and in ME.

 

Not at risk for a cyber attack? Think again. 10 Cyber risk myths

  1. I’m not at risk because I don’t maintain any personally identifying information on my customers. Every commercial entity has an exposure because all commercial entities have customers and employees. Typically, an entity will have employees’ social security numbers as well as health information for benefits programs. If you have this information- you have risk.
  2. I’m not at risk because I don’t conduct business over the internet. While the more sensational breaches involve hacking information via the internet, the majority of breaches occur by other means such as accidentally released or stolen physical files or electronic media (i.e. laptops, CD-ROM’s, thumb drives, etc.).
  3. I have coverage under my property, commercial general liability or other commercial policies. You may want to review your insurance policies again.  Property policies may provide coverage for business interruption but generally are triggered by a direct physical loss to the insured property. “Physical” is though of as “tangible” and case law generally maintains that data is not tangible property. Typically, commercial general liability (CGL) policies contain exclusions for damages as a result of the release, disclosure or access to personally identifiable information. It is for this very reason cyber risk coverage was developed.
  4. Personal Data breaches only happen to large companies and public entities. The media tends to focus on larger data breaches because it impacts a significant number of people but breaches impact entities of all sizes. In fact, smaller entities may be more susceptible to breaches as they do not have the resources to dedicate to the issue.
  5. Laws requiring notification of personal data breaches only apply to large businesses. Currently there are 47 states that have legislation requiring notification in the event an entity breaches personally identifying information. These laws are consistent on one point- they do not address the size of the entity.
  6. Coverage that wouldn’t enable my company to provide a professional response to a personal data breach requires a lengthy application and various audits. Unless limits of $100,000 or great are required, no underwriting questions are asked. A security audit is not required for this program.
  7. There is nothing I can do to reduce my company’s chances of having a personal data breach. There are several steps an organization can take to require its cyber liability exposure. Click here to learn more about how to reduce your changes for breach.
  8. If we have personal data breach data and need to notify our customers, we can just send them a “we’re sorry” letter and our customers will understand and continue to do business with us. While ending a “we’re sorry” letter will often satisfy the various legal requirements, the entity is then left with a marketplace reputation problem and the challenge of retaining customers in the wake of a breach. our program offers additional service to the people affected by by the breach. These service include access to a toll free information line, credit monitoring service and identity recovery services.
  9. I don’t need cyber risk insurance if I spend more information Technology security. While robust information technology security will help reduce your exposure, it will not prevent all breaches from occurring.  Breaches often occur from procedural mistakes or “rogue” employees who have access from the inside. Insurance, as well as appropriate spending on security and information technology is part of a holistic risk management strategy.
  10. In this economy, I can’t afford any more insurance. You cannot afford not to have cyber risk insurance. A recently Ponemon Institute study indicated that direct costs to respond to a breach were $60/record. Even a small breach that only impacts 100 records could cost you several thousand dollars.

For further information about cyber liability coverages- as well as any other business or personal insurance needs, we can help. We can be reached at www. keslarinsurance.com or 603-273-0953.

Source: The Main Street America Group. This document is intended for information purposes only and does not modify or invalidate any of the provisions, exclusions, terms or conditions of the policy and endorsements. For specific terms and conditions, please refer to the coverage form.

Offering Liberty Mutual Commercial Products!

liberty-mutual-logoWe are happy to announce that Keslar Insurance Agency continues to broaden our offerings to our commercial insurance clients!  Now offering Liberty Mutual Commercial insurance products to our portfolio.

About Liberty Mutual: Your insurance needs are as unique as your business. Whether you’re in manufacturing, hospitality, retail, or any other industry, Liberty Mutual have the right solutions to help protect your business. From startups to family-owned businesses and Fortune 500 corporations, Liberty Mutual’s coverages can help protect your people, property, and reputation no matter your size. Over the past 100 years, Liberty Mutual Insurance has been committed to helping people preserve and protect what they earn, build, own and cherish.

If you are interested in learning more about Liberty Mutual Commercial offerings or discussing  other business insurance coverages please contact us. We offer a large number of solutions for general liability, Business owner’s policy  (BOP), commercial auto, worker’s compensation and more. We have partnered with the leading providers of insurance in the area.  We’d love to help you! www.keslarinsurance.com or 603-273-0953.

Own a cleaning business? Know your insurance risks

Types of insurance needed for Cleaning businesses

cleaning blog postLike other business owners, owners of cleaning services face risks that can be mitigated with insurance policies.

Common types of incidents include:

  • art gets knocked off a shelf when dusting
  • your cleaning equipment stolen or damaged
  • an employee gets injured during work
  • your vehicle gets in an accident while you are working

These things do happen. When they do, you want to make sure you have adequate protection to make yourself whole again. Here are the types of insurance you need to keep you, your employees and your related assets protected:

General liability insurance is a key component of needed insurance. It could protect against lawsuits and other financial liabilities from accidents or other mishaps that you may cause. Property insurance protects your business property if it is lost or damaged due to things like fire, theft, vandalism or windstorms. These two insurances are often bundled together into one product called a business owner’s policy or BOP.

Worker’s compensation insurance: if you have employees, you need this to cover the medical costs and portion of lost wages if your employee becomes ill or injured during work. This a requirement in most states. An example of a time when worker’s compensation insurance may be used is when an employee slips on a wet floor during work and requires physical therapy and lost replacement wages.

Commercial auto: if you have a vehicle used for work, especially if it has your business information on the vehicle, it may likely have to be insured as a commercial vehicle. This covers the vehicle when it is involved in an accident. If you don’t have this insured correctly, any potential claims may not be covered.

Umbrella policy: this is an optional additional liability insurance product that will help cover you if you are in a lawsuit that costs more than your current policy or policies will cover. Ask your agent for details.

For more information regarding insurance coverages for cleaning services, contact us today at www.keslarinsurance.com or 603-273-0953.

Our Trusted Partners

  • Concord Group Insurance
  • Foremost Insurance Group
  • Great Falls
  • Hanover Insurance Co.
  • Main Street America
  • MetLife
  • Mt Washington Mutual
  • Providence Mutual
  • Progressive
  • Safety Insurance