Steers Insurance Blog

​A cyber attack is not just inconvenient and expensive, it can be an existential threat to an organization.  Cyber attacks have been on the rise for several years now and then came Covid-19.  As business strive to continue on at this time, more employees are working at home and using new tools and technology to stay connected.  

In a situation where one company merges with another to become a single entity, or when one company is acquired by another, it is imperative that both parties review and update their insurance coverages to ensure all risks are accounted for. This article details the steps your company should take to prepare for a merger or acquisition and defines two types of insurance that may help your company close the deal with confidence.

With the State of Emergency in place due to Covid-19 your business might be vacant for sometime. This is something no business owner likely ever planned for, but it does need consideration. 

If you conduct business in your home, insuring your business properly is part of a solid risk management plan. We can help!

Most businesses today send, receive, and store electronic data. While automated data processing has numerous benefits to your business, it also exposes you to an array of cybercrimes. For instance, a security breach could result in data loss, damage, or theft. If the compromised data belongs to your employees, customers, or vendors, you face the risk of getting sued for the damages.

Company directors have numerous responsibilities and obligations, some of which require them to make decisions that expose them to liability claims. There’s a lot resting on the shoulders of directors and officers of companies and non-profit organizations: wrongful dismissal, bankruptcy, defamation... these are just a few liability situations you might be faced with.

When running a business, you have the responsibility of ensuring that your employees are happy, safe, and healthy. However, sometimes thing doesn’t always go as planned. You might find yourself facing a lawsuit due to inappropriate employment practices such as employee discrimination, sexual harassment, or wrongful termination. That’s why it’s crucial to have an employment practice insurance policy to cater for the lawsuit.

Cyber security threats and trends can change year over year as technology continues to advance at alarming speeds. As such, it’s critical for organizations to reassess their data protection practices at the start of each new year and make achievable cyber security resolutions to help protect themselves from costly breaches.

If a fire causes the facility to be temporarily unusable, what would you do next? Ideally,
you would move to a temporary location while your permanent place of business is being repaired. Yet, traditional Property Insurance does not cover this move or a loss of income when a business must temporarily close. With Business Interruption Insurance, also referred to as Business Income coverage, this setback can be minimized by simply adding this coverage to your Property Insurance policy.

What is included in a Business Interruption Insurance Policy?