Cybersecurity Insurance

Do You Need Data Breach Insurance?

Do you have a database of personal and private information?

Private Information Includes

  • Name
  • Address
  • Date of birth
  • Social Security numbers
  • Credit Card numbers
  • Driver’s License Numbers
  • Mother’s Maiden Name
  • etc.

If yes, then you have exposures that need to be addressed and can be insured.  Even with the best cyber-security team, software, processes and procedures data breaches can happen.  Are you using web based software?  A cloud vendor?  Then you may be liable if your vendor has a data breach, because your customers’ records are at risk.

What is Your Exposure if There is a Breach?

According to the Ponemon Institute, the average cost of a data breach is $204 per record.  If you only have 2500 records, that’s over half a million dollars in risk.

Your expenses could include:

  • Legal and Defense Expenses
  • Crisis Management Response Expenses
  • Regulator Fees and Expenses
  • Notification Expenses
  • Identity Theft Recovery Expenses
  • Information Asset Recovery Expenses
  • Business Interruption
  • Cyber Extoration

Are You Ready to Mitigate Your Cybersecurity Risk?

Call: 251-344-5393

Group Health

Alabama Group Health Insurance
Flexible benefit solutions and expert guidance for our level funded plans.

Do you need to step up your game with your employees’ health plan?

With our level-funded programs, your small to medium sized business gets:

  • One, predictable monthly payment
  • Complete plan administration and support from our team of professionals, account managers, and trusted third-party administrators
  • Protection from larger-than-expected claims with stop-loss insurance
  • Quality benefits — often for less than traditional, fully insured plans

Many employers may save around 30% by switching to our level-funded program.*

Ready for Quality Health Benefits at a Lower Cost?

Call: 251-344-5393

For a Free Quote for Your Group: Download Our Group Quote Form

* Savings example is for an employer group in Alabama with 3 eligible employees.

About Gulf Coast Home Insurance Prices

I figured that one home insurance company was going to more or less the same as any other. I really just checked with Jack Green Insurance just to see what they could do. They very quickly got me a quote.  I was floored when he showed me their price.  I really thought it was a mistake.  They looked over my policy and literally cut my rate in half. Was it the same coverage?  No.  It was slightly better, a little lower deductible and a little  higher coverage limits.    David B - Mobile, Alabama
Read More...

Here are some news stories and articles to help you educate yourself about the factors that influence homeowners insurance prices, especially here on the Gulf Coast.

 

On Mississippi Gulf Coast, the crushing cost of homeowners’ insurance: newspaper reports | NOLA.com

In Mississippi, ;The Sun-Herald reports on a Long Beach couple not sure they can keep their house. The homeowners’ insurance policy has skyrocketed some 225 percent since Hurricane Katrina, the article says. And that’s for a home that filed no claim after Katrina. Louisiana has recently seen its insurance situation stabilize since the double whammy of Katrina and Hurricane Rita caused nearly $30 billion in claims, according to state figures. Despite the unprecedented damage, Insurance Commissioner Jim Donelon said increased competition from providers has calmed the Pelican State’s market. After an average 2.3 percent jump in prices in 2013, premiums in Louisiana increased only 1.9 percent in 2014, Donelon said. That’s a big change in five years. In 2010, on Katrina’s 5th anniversary, a headline at NOLA.com | The Times-Picayune said home insurance prices “remain astronomical.” Consumer advocate Bob Hunter, who once served as the Texas insurance commissioner, told The Sun-Herald he thinks he knows why prices have risen so dramatically. His conclusion is nothing short of startling: the insurance industry lied. He bases that shocker on structural changes the insurance industry pushed, and he supported, while insurance commissioner in Texas. The industry assured him the changes would help keep…

Article Source: www.nola.com/katrina/index.ssf/2015/09/on_mississippi_gulf_coast_the.html

 

 

Hurricane and Windstorm Deductibles | III

JULY 2016 UP FRONT
After Hurricane Andrew in 1992, insurers realized that losses from hurricanes could be much higher than they had previously thought. Hurricane Katrina, in 2005, which cost insurers more than $41 billion at the time, confirmed their fears. After these extraordinary losses, reinsurance companies, insurers that share the cost of claims with primary companies, such as homeowners insurers, said that they could not assume so much risk and that primary companies must reduce their potential losses.

Article Source: www.iii.org/issue-update/hurricane-and-windstorm-deductibles

 

 

Hurricane season is here. Are P&C insurers still prepared for the worst? | PropertyCasualty360

After several seasons free of major catastrophes, here a gut-check on whether property and casualty insurers expect a pendulum swing — and how they would respond.

Article Source: www.propertycasualty360.com/2016/07/05/hurricane-season-is-here-are-pc-insurers-still-pre

 

 

Twelve Ways to Lower Your Homeowners Insurance Costs | III

The price you pay for your homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from. Here are some things to consider when buying homeowners insurance.

Article Source: www.iii.org/article/twelve-ways-to-lower-your-homeowners-insurance-costs

 

Business Insurance

We have some articles to help you discover the cost factors of the various types of business insurance.

The U.S. Small Business Administration has put together some tips about buying insurance.

Buying Insurance | The U.S. Small Business Administration | SBA.gov

Article Source: www.sba.gov/managing-business/running-business/insurance/buying-insurance


Your business insurance costs are not completely out of your control.  There are many things you can do to reduce the cost of the insurance your business needs.

9 Ways to Lower Your Business Insurance Costs | Bplans

With all the costs related to running a business, it makes sense to save money wherever you can. Here are some ways to lower your business insurance costs.

Article Source: articles.bplans.com/9-ways-to-lower-your-business-insurance-costs/


How to Calculate Business Liability Insurance | Chron.com

Without liability insurance, if you lose a lawsuit, you will have to pay the judgment yourself. This can financially devastate your business and personal finances. There are three types of liability …

Article Source: smallbusiness.chron.com/calculate-business-liability-insurance-10480.html


Starting out on your own has enough risks. One way to mitigate those risks is with insurance. As a sole proprietor, it’s important to anticipate every cost, including the cost of insurance.  Every business is unique so  getting the right business insurance requires advice from an expert you can trust.

The Average Cost of Insurance Coverage for a Sole Proprietor Business | Chron.com

Being a sole proprietor is the easiest way to start a new business. The business entity consists solely of one individual, the owner. Insurance coverage is very important for any business especially …

Article Source: smallbusiness.chron.com/average-cost-insurance-coverage-sole-proprietor-business-14691.html