The right auto policy can be invaluable following a vehicle theft. If you have comprehensive coverage on your policy, your insurer can help pay to replace your lost car. Most policies can even provide rental car coverage until your stolen vehicle is recovered or considered lost. For more information on car insurance, contact Scurich Insurance today.
If you suspect your vehicle has been stolen, do the following:
Call the police. The sooner you notify the proper authorities, the more likely you are to recover your vehicle. You will want to share everything about your car that you can, including its make, model, licence plate number and VIN number.
Report the stolen car to your insurer. Once you’ve completed a police report, you should contact your car insurance company. You can often file a report using your insurer’s claims hotline. You should also consider contacting your local motor vehicle department, as they typically maintain a database of stolen vehicles.
Report the theft to your finance or leasing company. If you still owe money to a financing or leasing company, you will want to inform them that your vehicle has been stolen. Often, these companies work directly with insurers following vehicle thefts.
While there’s a chance authorities may recover your stolen vehicle, it’s best to try to prevent thefts altogether. Make sure you always lock your car and take your keys with you. Never keep a spare set of keys hidden in your car or leave the vehicle running unattended. Parking in well-lit areas and hiding valuables that might attract thieves can also be useful.
Business leaders make decidions each day on a range of issues including things like hiring, firing, compensation, promotions and the work environment. Every one of these decisions impacts your employees and, depending on the outcome, could result in a claim related to wrongful employment practices.
These claims can disrupt business, hurt morale, damage your reputation and lead to serious financial damages. Thankfully, employment practicies liability (EPL) insurance can provide organizations with protection from the above risks. Specifically, EPL insurance provides the following to policyholders.
Coverage for alleged acts.
EPL insurance not only protects organization from actual wrongful acts, but alleged acts as well. Specifically, EPL coverage can safeguard an organization from claims related to discrimination, harassment, retaliation and wrongful termination.
Timely responses to lawsuits.
Employees suing their employers is common, and orginzations will want to be prepared. This is especially important when you consider that there is no cap on how much a jury can award and that settlements in employment-related cases can easily reach six-figures.
Access to legal help.
Strong EPL policies provide the insured with access to legal resouces. This can prove invaluable if you need advice quickly.
Risk management strategies.
While employment-related lawsuits can arise at any time, organizations that take the time to implement basic risk controls are better equipped to avoid claims altogether. Many insurance companies provide access to risk management training and human resources consulting. These services can greatly reduce the likelihood that your company is sued by an employee.
Additional protection for your directors and officers.
While directors and officers (D&O) insurance can defend against employment-related lawsuits, dedicated EPL insurance is necessary for many orginzations.Having a policy that provides separate coverage for lawsuits connected to wrongful terminations, discrimination, invasion of privacy and similar employent claims ensures that the limits on your D&O policy aren’t exhuasted unnecessarily.
When cyber attacks like data breaches and hacks occur, they can result in devastating damage. Businesses have to deal with business disruptions, lost revenue and litigation. It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component to any risk management program.
Cyber liability insurance policies are tailored to meet your company’s specific needs and can offer a number of important benefits, including the following:
Data breach coverage.
In the event of a breach, organizations are required by law to notify affected parties. This can add to overall data breach costs, particularly as they relate to security fixes, identity theft protection for those impacted by the breach and protection from possible legal action. Cyber liability policies include coverage for these exposures, thus safeguarding your data from cyber criminals.
Business interruption loss reimbursement.
A cyber attack can lead to an IT failure that disrupts business operations, costing your organization both time and money. Cyber liability policies may cover your loss of income during these interruptions. What’s more, increased costs to your business operations in the aftermath of a cyber attack may also be covered.
Cyber extortion defense.
Ransomware and similar malicious software are designed to steal and withhold key data from organization until a steep fee is paid. As these types of attacks increase in frequency and severity, it’s critical that organizations seek cyber liability insurance, which can help recoup loses related to cyber extortion.
Following a cyber attack, your organization will have to investigate to determine the extent of the breach and what led to it. The right policy can reimburse the insured for costs related to forensics and seeking out expert advice. Additionally, some policies can provide 24/7 support from cyber specialists, which is especially useful following a hack or data breach.
In the wake of a cyber incident, businesses often seek legal assistance. This assistance can be costly, Cyber liability insurance can help businesses afford proper legal work following a cyber attack.
Coverage beyond a general liability policy.
General liability policies don’t always protect organizations from losses related to data breaches. What’s more, data is generally worth far more than physical assets, and it’s important to have the right protection in place when you need it most. Supplementing your insurance with cyber coverage can provide you with peace of mind that, in even of an attack, your organization’s financial and reputational well-being is protected.
To learn more about cyber liability insurance, contact us today.