We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
As it stands today securing a cyber liability policy is almost mandatory for organizations who store any client/customer related data or connect to the internet… which is almost everyone at this point. However, when a cyber breach or related claim occurs, looking to your traditional policies to provide coverage may be worthwhile.
The recently released study by PWC has identified Cybercrime as 2016’s second most reported economic crime. Organizations believing they may have minimal exposure or immunity to cyber risk is unfortunately wishful thinking thanks to the “Internet of Things” (“IoT”). Firewalls, security rules, and best practices may protect you against conventional security vulnerabilities, but the periphery devices that make up the internet of things open up a new set of cyber risks.
You thought everything was in its right place. Firewalls are properly configured, systems are patched on a scheduled basis, anti-virus is up-to-date… but something has gone wrong and your network has been breached. Your employee or customer’s Personally Identifiable Information (“PII”) has been taken, or worse, been made public…but what happens next?
A critical step of any contractual agreement between property owners and managers and their vendors (including contractors) is a careful review of the provisions affecting insurance and legal indemnification. The difference between a thoughtfully negotiated contract and one that is “off the shelf” or, even worse, none at all may be the difference between accepting liability where never intended.
Ransomware strikes. Your critical data files have been encrypted and your business grinds to a halt. You have the choice to spend countless hours rebuilding from backups (if you were diligent enough to ensure they will work) or you can pay the perpetrator to unlock your files. This is the scenario many, many firms and individuals are facing now that ransomware is spreading like wildfire through malicious emails, “malvertising” campaigns and exploit kits.
One of the most significant cyber threats to any company’s security is the Rogue Employee. Who is this person? Someone who has been entrusted with access to the system(s); (i.e. databases, customer records, HR records, confidential email, etc.) and who chooses to hurt the company and fellow employees by intentionally performing a wrongful act or providing another with the ability to do so.
Legionella, a harmful bacteria that causes the pneumonia-type illness called Legionnaires’ disease, was initially identified in 1977 after being responsible for 34 deaths. Since the initial discovery, outbreaks have occasionally surfaced. In 2015, numerous outbreaks in New York City; specifically in the Bronx and Queens, infected nearly 150 people and resulted in 13 deaths.
Ransomware seems to be everywhere and is one of the latest cyber crime tactics being utilized by cyber criminals to extort money from companies. This malicious code can lock or encrypt your network files or PC until a hefty fee is paid. It can infect your PC, server, network files, and or backup systems and can enter your network through an infected email attachment, downloaded file, or a vulnerability in a network service.
Failing to provide a safe work environment for employees will leave employers paying the consequences from both a financial and workforce standpoint. We all know that an unsafe work place can make it very difficult for good contractors to attract good tradesman; nobody wants to go to work thinking they have an increased likelihood of being injured due to the negligence of their employer.
It was not a very happy new year for Chipotle having been slapped with a shareholder class action lawsuit for “having known the fast food chain had inadequate safety practices but lied and omitted material facts in reports to stockholders”.
Our areas of expertise include:
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information: [email protected]
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information : [email protected]
New Jersey
175 Main St
Woodbridge, NJ 07095
Tel: +1-732-395-4250
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
