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Category Archives: Cyber Liability Insurance

Virtual Reality: A Risk Management Tool?

As technology continues to evolve for the better, industries are using it to their benefit. The newest craze is the idea of using the virtual reality seen in video games, as tools for the insurance field. It’s also important to protect your business with New York Cyber Liability Insurance. There are a few ways the insurance world can use virtual reality to reduce costs and protect employees. According to an article in Workers’ Compensation Institute, using virtual reality can prevent workplace injuries in warehouses when it comes to using forklifts. Tactus Technologies have built a virtual reality training program for forklifts that will allow operators to practice with a video-feed-like gaming system in the typical environments they work in. the program is called 3D Forklift Trainer and is meant to be interactive and puts aside the passiveness of classroom-based lecture training. This virtual reality program provides a risk control element that enables you to look at possible hazards and how to handle them before the real deal. While preventing injuries, it’s also cost efficient for insurance companies. Insurers won’t have to spend the money to send their employees to different locations to train and will be able to hire more staff without the fear of extra costs for training. The idea of virtual reality seems to have a lot of benefits as a risk management tool. As mentioned before, this program is representative of how innovative technology is becoming and how industries like insurers can use it to their advantage. At A.J. Benet, Inc. Insurance, we understand the harm cyber crimes can have on your business and that’s why we take the time to review exposures including cyber attacks, data breaches, and privacy risks. We are also proud to say that we offer cyber policies that provide first and third party coverage for security and data breach events. For more information on how we can provide you with your insurance needs, call us today at 888.639.4560.

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Is Social Media Increasing Your Company’s Cyber Liability?

  A new age has dawned in the world of business. Social media has become a great tool when it comes to advertising and interoffice communication and planning. Studies show that many small and medium sized businesses have increased their use of social media from 44 to 63 percent. However the increase in the use of social media does create New York Cyber Liability Risks. Loss of information is one of the biggest risks of using social media for your business. Between a project’s information being accidentally leaked, or hackers obtaining personal information, there are many ways that personal and even confidential information can leave the safe confines of your office once you start using social media. Another risk involved with the utilization of social media is company reputation. As fast as positive feedback about your business can spread via the Internet, backlash from a disgruntled employee or client can travel just as quickly. For companies that have not started using social media yet, there is also potential for someone to make a page using your name and bad mouth your company and your workers. Usage of social media also runs the risk of raising compliance concerns when it comes to employee screening and HIPAA regulations. Personal information on an employee’s online profile can lead to discrimination charges if used in the event of hiring or firing decisions. Organizations that are subject to HIPAA regulations must make sure that there is no inappropriate sharing of private patient information. With all the risks involved in using social media for your business, there are a few simple steps you can take to help reduce your cyber liability risks. For example, you can set up policies outlining proper security measures for posting at work, or even for how your employees are allowed to speak about the company off the company page. Most importantly, you may want to consider getting Cyber Liability Insurance to protect your business from losses due to hacking, copyright infringement, discrimination charges, and other issues that may stem from the usage of social media. At A.J. Benet Inc. we understand the risks associated with social media usage. Call us today and ask about our cyber policies and how we can assist you. 888.639.4560

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NY Cyber Liability Insurance: Identity Theft

NY Cyber Liability Insurance: Identity Theft  According to both the FTC and FBI cybercrime is a rising concern across the country. In 2013 over 290,000 cases of identity theft were reported to the FTC, the majority of those instances involved digital storage, usage and transmission of private data. That number represents cases officially filed with the FTC, not handled through private financial institutions or other means. The FTC estimates that millions more cases transpire each year costing consumers and businesses millions. The Bureau of Justice Statistics approximates that 16.6 million people, 7% of individuals over the age of 16, are victims of identity theft a year. Yet only about 10% of victims report these events to law enforcement while the vast majority alerted their financial agency where the incident took place. Unauthorized uses of credit card and bank account data account for roughly 92% of all fraudulent instances. The total financial losses in 2012 were $24.7 billion, which is more than any other property crime. Cybercrime and identity theft can arise in any industry utilizing digital methods of storing customer data, conducting online transactions, and many other instances. Consumers can no longer be held solely accountable for the protection and storage of their personal data. Data breaches and unauthorized use of data can occur across-the-board posing a risk to every business throughout all industries. Keeping your business safe is as important as protecting you customers, and having the right NY cyber liability insurance can help. While certain sectors have a higher risk of exposure to cyber liability, but no business is really immune to the risk of cyber liability in today’s digital environment. At A. J. Benet, we work with organizations to review their exposures by focusing on where cyber breeches could arise. Exposures could include cyber-attacks, data breaches and privacy risks. Our Cyber Liability and Crime coverage can be valuable addition to our New York Business Insurance policies and help protect your company. Contact us at (888) 639-4560 for more information about making sure your company is aptly covered.

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Westchester New York Business Insurance: Cyber Safety

Westchester New York Business Insurance: Cyber Safety If you allow your employees to have access to the Internet, then cyber safety should be a top concern. This involves more than just installing a firewall to protect your business network. The right combination of hardware, software, and education will provide your business with a safe internet environment. Here are just a few tips you should follow and share with your staff to ensure cyber safety. Don’t Download or Install “Free” Software, Music, or Ebooks. It’s a smart idea to ask yourself, “How is somebody making a profit off of giving this software away?” when you see a deal such as this. There are legitimate offers out there, such as Adobe giving away their Adobe Reader program, but it’s better to err on the side of caution when it comes to business computers. Know Which Sites Are Safe. Knowing what types of websites to avoid can protect your business’s security. Individuals assume that the only “dangerous” sites are porn and gambling sites. Though these should never be allowed into your business, these are not the only sites that introduce risk. Install a Hardware Web Appliance. This is inserted in between your local area network and your internet connection. These appliances can filter out spam, stop malware from being downloaded, restrict Internet access, and generate reports on employee online activity. Monitor Employee Internet Usage. The best way to do this is with a software based solution. The standard configuration consists of a central server that gathers information from the software that is installed on every employee’s computer. In addition to following these steps to ensure online safety within your business, it’s vital for your company to be covered by a Cyber Liability Insurance policy. At A.J. Benet, we serve the New York business community as well as surrounding areas with exemplary service, meaningful recommendations, and claims follow-up with fast resolutions. Contact us today for more information at (888)639-4560.

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