melloInsurance

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Identity Theft 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 do we keep ourselves protected in an online world?

Do you ever log onto Facebook and the first thing you see is an advertisement for a pair of shoes you just were looking up the night before? Fellas? We all know you were eyeing up those new pumps (Christian Louboutin…?). Well the reason is, social media and many online companies are collecting data on everything you view. The data that from your device is then analyzed by companies like Google and then sent back to your device giving you information that is relevant to what you were just looking for. Google’s whole business model is to provide you with the most accurate information in the quickest amount of time.

This is insane! I mean, you don’t even have to type “Blingy 4 inch heels for wedding” into Google anymore without it already having advertisements for those shoes on your facebook timeline. The data and analytics that is being processed every second is astounding. So with that all being said, this is all very cool, but how do we keep ourselves protected from people who want to use that information against us online.

Many banking and online payment websites have added security measures to make sure it is indeed you logging into the website to make a payment or transfer. They also have guarantees that if you are hacked or someone accesses your account, that they will refund your money. So please contact your banking institution for their information on these types of scenarios.

For businesses who store data and privacy information on their computers at work, you need to make sure you are taking similar precautions. Having proper internet security software on your servers and computers is crucial. This software can be frustrating at times, as they can hold up day to day operations to keep added security in place. So talk to you IT analyst and make sure your software is going to be compatible with the security provider.

Next, you want to keep everything backed up, preferably off-site. What does this mean? You can do a few things. Some people manually backup their information onto a hard drive or USB flash drive daily and take it home with them. Others have IT departments that can backup information online in their database overnight. Either of these options are good as long as you’re able to restore your data in a quick and efficient manner if an attack or crash were to occur. You don’t want your business to be disrupted for too long. Having these measures in place beforehand will save you a huge headache in the future.

One more thing you can do, is purchase a cyber insurance policy. Many companies are offering added cyber security endorsements onto business policies to help protect people/businesses from these types of risks. These policies include coverages such as:

  • Coverage for cyber liability if your computers are hacked or a virus attacks your system causing personal or financial information to be leaked and someone brings action against you for the leaked information.
  • Payment of the costs to repair your systems if they are damaged and any losses of revenue you may suffer as a result of this damage
  • Coverage for data held ‘in the cloud’
  • Coverage for regulatory actions or investigations as a result of a privacy breach
  • Coverage for threats and extortion conducted online
  • Data Recovery Coverage

The internet is one the most amazing inventions of our generation. However, like anything we must treat it with respect and take precautions when working with it. Identity theft, viruses, hackings, malware emails all happen on a daily basis. We don’t want this to happen to you, so hopefully this information can help you prepare ahead of time for when these situations arise.

Christmas Lights, Thieves, Tips and Safety – What you need to know this holiday season

This time of year is full of events, gatherings, food, family and friends. You are running from the mall, to the next turkey dinner, to work, back home and then to another get-together. This season is packed with shopping, decorating and christmas events. It is exciting and busy, and some people love it, while others don’t, but regardless, there are things you will do, or need to do, and we want to make sure you have your bases covered. 

First of all, the decorations. Some people go all “Griswold-like,” and decorate like mad men. Others don’t, but they will put up a tree and a few lights. Either way, it is important to take some precautions before you start.

  • Do not overload your power circuits / breakers and remember to use 3-wire ground extension cords outside. Contact an electrician if you are unsure about your capacity.
  • Inspect the lights beforehand, not only so you know they’ll work, but to make sure there aren’t any damaged bulbs or wires showing that could cause potential shocks, sparks or fires.
  • If you can, use LED lights as they burn cooler, which will help reduce the chance of overheating and causing a fire.
  • Never leave your tree on when you leave the house.
  • If you are using a real tree, make sure you keep it watered, so it doesn’t dry up.

Next concern, why don’t thieves ever seem to take time off around Christmas? In fact, it seems like they are more busy this time of year. Naturally, it is because people fill their houses with toys and gadgets all in one convenient place – under their tree. Many shop in large quantities, so if you leave your vehicle, you are leaving many new possessions inside of it. Some tips to avoid potential issues include:

  • Don’t leave a message on your voicemail that you are “Gone to a wedding in Jamaica, be back in 2 weeks.” This is an easy opportunity for burglars to access your house while you’re away.
  • Leaving a key in the flower pot or under the doormat. This isn’t the burglars first rodeo and they likely have some experience checking these convenient places.
  • Make sure your windows and doors are locked while you are away.
  • Installing a security system is always a good way to deter unwanted traffic. This also benefits you by giving you a discount on your home insurance.

Lastly, here are some shopping tips for you:

  • Be careful when you purchase gifts online from stores you are unfamiliar with. Quickly do a google search to check out some reviews beforehand. Check your credit card to make sure you have fraud protection.
  • Buying gifts when the prices have dropped significantly. This can result in fake items, or the sale of much older models that they have had for many years.
  • Keep your wallet and purses well protected while walking in crowded stores and malls.
  • Park your vehicle in a busy, well lit location so your belongings are safe in your vehicle while you continue to shop. Make sure you keep your purchases out of sight.

Some insurance information for you:

  • Most home insurance policies include identity theft coverage, so if your wallet or purse goes missing and this becomes an issue – check your policy to see if you have this coverage to protect yourself.
  • Theft coverage on belongings, again, most home insurance policies will include theft of your belongings, check to make sure your policy has this coverage. Some items, like jewellery have a cap on the value of coverage when it results from theft, so if you have high-end jewellery or lots of it, make sure you talk to your broker about making sure it is properly protected.
  • If you have a copy of your policy, you can check your coverage by matching your policy coverage in your companies wording booklet. We have them available on our website for your convenience.

We want to wish you all a Merry Christmas, full of love, joy and laughter; and a Happy New year.