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Protect Your Business with the Right Insurance Solutions
In the debt collection and debt buying industry, insurance isn't optional - it's critical. From frivolous lawsuits to sophisticated cyber-attacks, agencies face constant risks in today's litigious and digital environment. The right coverage, especially Errors & Omissions (E&O) - also known as Professional Liability - and Cyber Liability insurance, can mean the difference between a minor setback and a [...]
The Growing Threat of Cyber Attacks in the Financial Services Industry
As digital technology advances, the financial services industry faces growing cyber threats. Banks, insurance firms, and fintech companies handle huge amounts of sensitive data, which makes them prime targets. Understanding these risks and acting on them is essential to protect both customers and institutions.
Protecting Your Business: Cyber Insurance, Fatigue, and Tailored Solutions
Cyber insurance has become an essential form of protection in today's digital landscape. With the rapid increase in cyberattacks and the evolving nature of cybersecurity threats, it is crucial for businesses to have comprehensive coverage that can mitigate the potential risks. In this article, we will explore the importance of cyber insurance, the risks of [...]
Cyber Insurance: Protecting your Business from Rising Digital Threats
In the last year, cyber criminals delivered a wave of cyber-attacks that were highly coordinated and far more advanced than ever before. Simple endpoint attacks became complex, multi-stage operations. Ransomware attacks hit small businesses and huge corporations in equal measure. It was a year of massive data leaks, expensive ransomware payouts, and a larger, more [...]
CFPB's Statement on Data Security Signals new Compliance Concerns
Insufficient data protection or information security can violate the prohibition against unfair acts or practices according to a circular released last week by the federal Consumer Financial Protection Bureau. This position is not new, as the Bureau has been pursuing covered entities for lax data security measures for some years. In 2016 the Bureau brought [...]
Cyber Liability Insurance- What Does it Cover?
Understanding Cyber Liability Insurance Coverage By now, you've heard the reports and fallout from the recent breach of millions of consumer records from a medical billing agency. Suddenly, those seemingly distant stories of hackers and cyber-crime have hit much closer to home in the ARM industry. Whether the incident is a record breach or a [...]
The One Coverage You Probably Don't Have, But Need
You have taken steps to protect your agency against consumer lawsuits, but what about the potential threat from within your organization? The number of lawsuits against employers for hiring and firing decisions, or even discrimination, continues to rise. No company is immune to these types of lawsuits, and the inevitable turnover on your collection [...]
Hired Auto Coverage - Are You Covered?
Have you ever purchased a new toy for your kids, an expensive camera for a spouse, or even a new power tool for yourself, only to realize upon opening that you overlooked the "batteries not included" note on the box? Similar oversights with your business insurance can lead to major setbacks, and the fix isn't [...]
The Difference Between Claims Made and Occurrence Policies
Understanding the wording that is used in your insurance policy can make a big difference for your business. Whether or not your policy covers you depends on this wording and the period of time that your policy covers. An insurance policy can be written on two bases: Claims Made Claims Occurring Claims Made policies provide [...]
Ransomware - Putting Your Company, Your Clients and You at Risk
Columbia Ultimate (now part of the Ontario Systems family) posted an interesting article on its blog in April about "ransomware" and how it can affect your agency and your clients. What is ransomware? Just what it sounds like. "Ransomware is an access denial type of malicious software that can come from just about anywhere a [...]
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