melloInsurance

Serving our clients, Serving our community

Cyber Coverage

Is there a reason I have identity theft coverage?

Remember a couple weeks ago when we spoke about the importance of having someone checking your home while away on that warm vacation that you “won” by taking that telemarketer survey?  Well, unfortunately that trip resulted in having your information getting stolen and your personal identity being compromised. Credit cards were forged and now you have charges in your name that shouldn’t be there!  Why oh why was that telemarketer so convincing? Now you are sitting in a world of hurt and anguish, you are confused and have misplaced emotions, and wondering how you will escape the clutches of this unfortunate event.  You grab your favorite blanket, lay down on the sofa and proceed to have yourself a good cry as you wonder what to do.


Suddenly it dawns on you and you stop your panic.  The clouds of broken trust and fear begin to roll back with the glorious blue sky and warm sun shining down on this situation.  You remember that your insurance provider has got you covered! Most companies offer a minimum of $10,000 of identity theft protection that will help you get your life back in order.  This coverage will kick in to cover the costs of getting new documents produced, as well as kick in to cover unauthorized credit card charges that might exist. This coverage can be used any time you suspect that your identity has been compromised.  The claims process is started simply by contacting your broker who will open up a claim on your behalf with your insurance company. Submitting a claim for this type of loss may cause a change in premiums due to discounts being affected, so be mindful of that fact if you should decide to pursue this option.


Identity theft protection.  Who knew you would ever need such a coverage?  Your broker did that’s who! Once this whole disaster blows over and what was lost has been returned, make sure you take the time to thank your broker and maybe even bring them that Iced Cap that they love so much.  Brokers know that they often look like the hero, but deep down they are just regular people that want to help and see your problems through.

No matter what happens in the future, keep your broker close.  You never know when you will need them to help you out of the proverbial hole you find yourself in!

 

How can we be ready for the criminals of the 21st century?

Back in the 1800’s, if there was a crime, you walked out of the saloon and handled the matter in 10-step quick draw. “This town ain’t big enough for the two of us.” You gotta love those old westerns.

Crime itself hasn’t changed, we still have issues today. The difference is the way the criminals carry out the crime. Stealing by pick-pocketing or by stealing off the shelf is less common today as there are cameras everywhere to catch you in the act. Criminals have become more and more creative with how they think up and carry out their crime.

Some things you can do to prevent such issues from happening to you or your business is:

  • Lock everything up – Whether it’s the front doors, your tool trailer, the cash in the til, or any private documents or accounting information. All this information is valuable and can be used by criminals for identity theft issues or to steal financial information for their benefit. Locking up your belongings may be required by insurance companies to cover the theft claim. (Depends on the items that were stolen. Such as tools, jewelry, etc.)
  • Security System – Having cameras and motion detectors in your house or business can not only scare off people prior to entering, but can also set off alarms or catch them in the act to make sure they don’t do it again or prevent others from doing it again. By having a third party monitor your system, you can potentially receive a discount on your insurance premiums for taking these measures.
  • Computer Data Security – There is a ton of financial information available on our computers today with the ability to bank online or do any financial purchases online. It is important to understand your cyber security on your computers, make sure the websites you are using are secure and that you have good security and fraud protection on your credit cards.
  • Iron Bars – This is an old fashioned security measure. If you have a lot of glass in an area that gets broken into more often or you store goods that are more commonly stolen; putting steel bars in the windows can prevent criminals from breaking and entering if they cannot enter.
  • Good Lighting – Having your house and business well lit during the night, helps keep people away as well as they are less prone to break into a building in a bright light to avoid getting caught.
  • Removing Valuables – Storing valuables overnight can also create potential for break-ins. Removing them from the premises can also help avoid future issues.
  • Proper Insurance – It is always a good idea to carry insurance on your buildings and your contents / inventory. Theft and vandalism claims can end up costing a lot of money. You will want to prevent as much of the small issues as possible as you will not want to claim every situation. However, you will want insurance available if a major loss does occur.

Most of our insurance policies now include coverage for criminal issues such as theft, vandalism, riot, identity theft and cyber security. Cyber security coverage is a new to the insurance industry and may need to be added to your policy if you require this coverage for data intrusion or other potential cyber threats. As this is becoming more of an issue, we recommend you look into what exposures you or your business may have to these types of issues.

Crime will always be an issue in society. Despite our best efforts to see the good in all of our fellow men and women, we will always have problems. By taking a proactive approach you can prevent any future problems from occurring before they start. By carrying an insurance policy, you can be insured for the problems and claims that you weren’t able to predict and prevent. Contact us today for any questions or to look into how we can design a policy to meet your needs.