3 Ways to Reduce Your Companys Cyber Risk

Virtually every company today faces cyber risk. Hackers can take your customers information with ease, and then you have to allocate resources to dealing with the aftermath. Although a comprehensive insurance policy should be acquired in case this ever happens, there are other things your business can do to reduce the risk.

1. Have Strong Passwords

This is one of the most basic things your computer systems should have. You have likely heard about company’s accounts getting hacked because the password is Password or 12345678. Have something that is difficult to guess.

2. Only Give Access to People Who Need It

Many hacks occur internally. Whenever you give out a password or access to a certain system, make sure the employee can be trusted. You also need to consider if the employee absolutely needs to have access.

3. Have an Expert Look at Your System

You can hire someone to take a look at your security system. They can locate weaknesses and recommend improvements you can make. It might cost money to upgrade a system, but it is much better to do this than deal with costs associated with a data breach.

A few easy steps can make all the difference in how protected your company is. Remain vigilant and take essential actions to reduce your company’s cyber risk.


The Ins and Outs of a Hospitality Insurance Program

There are many insurance considerations that pertain to the hospitality services industry that are both unique and complicated. The risks and operations associated with operating this type of business requires the knowledge of a professional hospitality insurance company in order to appreciate just how, and what type of insurance should be placed.

A qualified agent or broker can assist in explaining, for example, how a property insurance claim should be handled. Anyone can appreciate the amount of time and work it takes for insurance agents and brokers to become specialists in this industry. Without this specialization, insurance agents would be much more likely to sell insurance coverage that contains gaps that would often leave hospitality policyholders uninsured or drastically under-insured.

How to get started

Finding an insurance agent or broker who thoroughly understands the hospitality industry is vital, since most owners aren’t fully aware of all the risks facing them and the need for certain coverage’s to properly insure their businesses. Sadly, most owners have little knowledge of, or appreciation for, the impact of exclusions and limitations contained in many policies purchased.

In addition, you should request that the agent thoroughly review your particular business and encourage him or her to follow up with letters and agreements setting forth exactly the type of relationship and service expected, the broadness of coverage desired, and the thoroughness of value investigation needed in order for you to be fully (and safely) insured.

When you decide the time is right to buy liability coverage for your hotel or restaurant operation, you should expect to receive a measure of protection, but you may still remain somewhat concerned that all may not be well with your insurance portfolio.You may still wonder whether or not you have enough coverage for any and all situations.After all, you may not have the right kind of coverage to cover all of the possible accidents, incidents and catastrophes that might occur.

What about employers liability, liquor liability,or auto insurance for employees who drive their own car on behalf of the business?Do you know where your current liability insurance policy is, and when was the last time you read it?If you don’t fully understand the language then you need the agent operating on the behalf of the hospitality insurance program to take the time to explain everything. Insurance works best when you know what the specifics are, what to do when an issue arises, and how to properly file claims.

4 Common Business Liability Insurance for Professionals

It doesn’t matter how good you are at your job. Liability insurance for Austin professionals is a must. In general, these policies help reduce the financial risk you may have due to your business. Common business liability insurance policies you may need include:

  1. Cyber Liability: If customer or employee information is compromised due to a cyber breach, this policy would help recover said information and pay related costs. General liability is rarely enough to protect you from cyber-related risks.
  2. Excess Liability: This gap coverage helps provide the money for legal fees that your general liability may not cover. This is an important liability insurance for Austin professionals because it can help save thousands of dollars.
  3. Errors & Omissions: If your business or an employee is sued due to a failure to perform, this policy would cover fees incurred for civil defense and judgements. Typically, it wont help cover lawsuits due to criminal actions.
  4. Employment Practices Liability: Under certain circumstances, past, present or prospective employees may feel you discriminated against them. If they sue you, this liability policy will help pay the legal fees and may help deal with public relations issues.

If you’re in the market for liability insurance for Austin professionals, you should talk with an insurance expert. He or she will be able to help you get the policies you need.

Capitalizing on Your Insurance Social Media Efforts

The insurance industry, much like any other business model that relies on customer relationships, has positioned itself perfectly in terms of adopting social media to enhance their sales. In fact, insurance social media has become a key component to the success of agencies nationwide. They want to connect with their audience on a more personal level, and have embraced the philosophy of integrating social media into their customer service strategies.

Social media marketing helps to increase referrals

Savvy insurance agents learned quite some time ago to use social media marketing to increase referrals. The results have been quite good, and will only improve as long as they effectively stay current and do not falter in their online efforts. Most agents fully realize that a social media presence is one of the most efficient ways to market yourself and your services.

Once you’ve established yourself in the social media universe, you need to do everything in your power to use those channels to get the most from your online presence. When it comes to developing referrals, insurance social media can be a tremendously useful tool.

Here are some tips for how insurance agents currently use social media marketing to increase referrals:

First, if you haven’t already done so, spend some time creating an account and exploring the major social media channels. Facebook, Twitter, LinkedIn and Google+ seem to be the major outlets, but others have quickly become equally relevant, such as YouTube, Pinterest, Tumblr, Flickr and Instagram, many of which may be of interest to you as well. The best thing to do is to set up your account on the major outlets and then begin familiarizing yourself with their services and rules, along with the etiquette of these sites.

Spend some time focusing your efforts on some of the major social media outlets, develop relationships and engage your audience. This will demonstrate that, not only are you a helpful member of the community, but you will also be building a social network that will result in positive reviews and referrals through word-of-mouth.

Two Tips for Marketing Your Insurance Agency on Social Media

Social media has changed the way most people interact with each other. For this reason, today’s businesses have adapted their marketing strategies to include social media channels. Marketing on social media allows you to interact with your customers and potential customers on a more personal level. If you have an insurance agency, insurance social media marketing is a great resource to grow your business. Here are two simple tips to help you make the most of this tool.

1 – Be Unique

Social media is not the place for generic ads. Instead, it is better to provide unique content that is tailored to the customer. If you want to succeed with your insurance social media efforts, try to be original in your content. You can ask questions, link to blog articles, publish videos, and more.

2 – Know Your Audience

Next, make sure you understand your audience. If you are using multiple social media outlets, each audience might be a little bit different. In these instances, it might be smart to tailor your message to each particular group of people. Individuals are more likely to respond to content that is generated for them rather than something generic. Be patient with your insurance social media efforts, and make sure to implement a strategy that will allow you to succeed. Overtime, you are likely to reap results from your efforts.


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