Having cyber insurance can allow you to keep your business safe in a variety of ways. With that being said, cyber security is also an important part of business operations, as it is the first line of defence for your e-commerce and other digital platforms.

Since many businesses are operating in a variety of ways where sensitive information, including the online transfer of funds, it is absolutely worth having the proper cyber security in place.

For example, private business details, as well as sensitive client information, such as bank accounts, addresses, emails, etc. can all be breached if secure online measures are not effectively implemented. Without these actions, not only will this affect your business information, but also that of your client’s, and this can be detrimental to your company’s reputation.

However, even with cyber security in place, breaches can still happen, as cyber thieves continue to find creative and underhanded ways of accessing private information that does not belong to them.

With this being the current and likely future affairs of our online world, having cyber insurance can certainly make a difference in protecting your company from a variety of severe financial and reputation-breaking outcomes.

As previously mentioned, companies should make having their own cyber security systems in place a top priority. Insurance companies will then be able to act as an added layer of protection for the more unpreventable types of online threats.

In addition to software security safeguards, businesses can also be proactive by educating their employees about the wide range of virtual threats. For example, employee’s actions can help prevent these attacks, and along with being informed, and taking the necessary precautions, your company will have a much better chance of avoiding cyber-attacks.

Cyber insurance packages, while can’t necessary help restore a company’s reputation, can assist when it comes to various cyber security breaches that can result in the significant loss of income.

Whether this loss of income is due to a company’s shutdown, loss of clientele, or financial theft, cyber insurance can play an important role in a company’s ability to survive. In the event a company is sued and requires legal services and other financial advisor, this type of insurance is also design to help provide aid to these kinds of financial situations.

Especially if a business deals with high volumes of financial and sensitive information, cyber insurance is highly beneficial and a recommended part of a company’s cyber security preparedness plan.

The world of cyber security and cyber insurance is only growing each year. Therefore, it is well-worth looking into obtaining this type of insurance if you haven’t already, as soon as possible in order to protect your business.

As cyber threats evolve on a near daily basis, there are even new cyber risks that haven’t even been detected yet. With that being said, by having cyber insurance in place, you can plan for both the existing and the future cyber security threats by having the proper insurance in place.

You will of course require specific insurance coverage for the unique needs of your business. To help ensure you have the best coverage, you can reach out to an insurance agent who is well-versed in this area.

Connect with our experts at Leaders Insurance to find out more about the cyber insurance policies we offer and let us help you protect your business both today – as well as into the future.

It is possible for every person insured with a given carrier to have a rate increase. Insurance rates can rise due to increased claim activity. If an insurance carrier is losing money, rates can increase. Also, if there appears to be a higher level of risk, an insurer will increase the value of the insurance on the policy to protect them from further exposure. Insurance policy renewals are a standard part of insurance. All policies renew and insurance companies have the ability to recalculate your insurance rate. Use this time of year to mark your renewal dates in 2020 so you know when to review your policy and think about possible changes.

When looking for insurance coverage, you want to partner with an insurance agency that has access to a wide network of insurers. This is key to getting the best coverage and the most competitive rates.

At Leaders Insurance, we can often source competitive insurance coverage where other agencies can’t. Our team has a wealth of expertise and we service clients not only in the Tri- Cities but also across the Lower Mainland and BC as a whole. As you plan out your year, please feel free to reach out to us so we can provide you with a quote for all your insurance needs. Let’s make 2020 your best year ever!

An insurance renewal is the standard length of time an insurance policy is in effect without an insurance company adjusting your rate. Of course, there are exceptions to every rule, and it is possible – on rare occasion – for your rate to change shortly after purchasing a new policy if you do not meet underwriting guidelines.

The renewal date of your insurance policy is based on the date your policy took effect. So, it could actually take place on any day of the year depending on when you originally started the policy. The other factor in determining your renewal date is the length of your policy period. Policies usually renew annually or semi-annually. The start of the year is a perfect time to take stock of when these renewals are coming due so you can plan ahead.

Renewal information is usually mailed or emailed to you 45 to 30 days in advance of your renewal. You will receive a declaration page along with other information explaining your policy. A new proof of insurance is usually enclosed with the declaration page.

Look at your existing rate and see if you qualify for any further discounts. When you get your renewal reminder, this will help prompt you to do this review as sometimes insurance is easy to forget if you haven’t had the need to use it recently. It is a good time to contact your insurance agent to review your policy.

It is possible for every person insured with a given carrier to have a rate increase. Insurance rates can rise due to increased claim activity. If an insurance carrier is losing money, rates can increase. Also, if there appears to be a higher level of risk, an insurer will increase the value of the insurance on the policy to protect them from further exposure. Insurance policy renewals are a standard part of insurance. All policies renew and insurance companies have the ability to recalculate your insurance rate. Use this time of year to mark your renewal dates in 2020 so you know when to review your policy and think about possible changes.

When looking for insurance coverage, you want to partner with an insurance agency that has access to a wide network of insurers. This is key to getting the best coverage and the most competitive rates.

At Leaders Insurance, we can often source competitive insurance coverage where other agencies can’t. Our team has a wealth of expertise and we service clients not only in the Tri- Cities but also across the Lower Mainland and BC as a whole. As you plan out your year, please feel free to reach out to us so we can provide you with a quote for all your insurance needs. Let’s make 2020 your best year ever!