Long Insurance Services of Kernersville, NC


  Contact : 336-992-5664

All posts by Duane Long

Hartford - Data Breach Security

Cyber Liability – Understanding Cyber Liability for Technology Companies

Recently, a large healthcare provider reported that, due to a data breach, it would be providing credit
monitoring and identity theft services to over 600,000 individuals for two years. In addition, the same provider settled class action lawsuits in several states with payments to each individual. The total costs to the provider were in the tens of millions – all as a result of a network security failure. This scenario
illustrates the economics of cyber risk and liability, an area of growing concern for life science companies.

What is cyber risk and how do medical technology and pharmaceutical companies manage this potential for financial loss? Cyber Exposure Simply stated, cyber exposures are directly connected to the responsibility companies have to protect their electronic information. Cyber risk refers to the potential consequences associated with this information being compromised or misused.

Cyber Liability Insurance

Cyber Liability Insurance

Failsafe Overview

Failsafe Overview

Failsafe Coverage Analyzer

Failsafe Coverage Analyzer

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Hartford - Data Breach Security

Data Breach Insurance: Just the Facts

As the facts emerge, one thing is becoming clear – a data breach is a serious issue every small business needs to understand and plan for.

Data Breach Insurance

Data Breach Defined – Loss, theft, accidental release or accidental publication of Personally Identifiable Information (PII) and Protected Health Information (PHI) including: Social security number, bank account number, credit or debit card numbers, driver’s license number, patient history and medications.

How a Breach Can Occur – Stolen or lost paper and electronic files; stolen or lost laptop, smartphone, tablet or computer disks; stolen credit card information; employee error or oversight; theft or release due to unauthorized access (such as by former employees or vendors); hacking.

Who Needs Data Breach Coverage – Any business, small or large, that handles or stores any private customer, patient or employee data is at risk. Businesses such as healthcare practices, law offices, accounting offices, retailers, restaurants or financial services are at a higher risk for a data breach because of the quantity and type of sensitive information they handle and store.

How Data Breach Insurance Can Help – Offers time-saving professional services to help quickly restore your business’ reputation, guide you in handling a breach and assistance with regulatory compliance Covers response expenses, including mailing notification letters, credit monitoring services and public relations Provides coverage for defense and liability expenses in the event you’re sued because of a breach.

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Erie Business Insurance

Business Insurance Quotes

When was the last time you had your insurance quoted? We have multiple lines to find the best rates for your Personal and Commercial needs.  Call us today at 336-992-5664 to see if we can save you some $$$$.

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BBB 2015 Torch Award Winner

2015 BBB Torch Award Winners

Four Companies Distinguished with Highest Business Ethics Award.

BBB celebrates the accomplishments of 4 Northwest North Carolina business that have proven excellence in business ethics. These companies were honored on Thursday, June 4 at the Hickory Room, Bib’s Downtown in Winston-Salem. The 2015 BBB Torch Award for Ethics winners are Long Insurance Services (Category 1-10 employees, Kernersville, NC), Holland Transportation Management Services (Category 11-50 employees, Statesville, NC), Tar Heel Basement Systems (Category 51-175 employees, Winston-Salem, NC) and Wake Forest Baptist Medical Center (Category 175+ employees, Winston-Salem, NC).

“While many businesses throughout our region practice sound business principles, these four businesses exemplify a culture of integrity from leadership to workers, with vendors and customers and throughout the communities they serve,” said Brian Wright, President & CEO of BBB of Northwest NC. The Annual Torch Awards for Ethics ceremony honors companies whose leadership demonstrates impeccable character and whose practices meet the highest standards of integrity. These companies generate a high level of trust among their employees, customers and their communities. The award embodies the BBB mission of advancing marketplace trust throughout our 14-county region.

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Business Insurance – Winston-Salem, Greensboro, High Point & Kernersville

If you are in business in Winston-Salem, Greensboro, High Point, Kernersville or, really, anywhere else in NC, SC or VA you have reason to protect yourself from being sued or having property loss.  You have invested time and resources into developing and growing an enterprise to provide an income and a future for your family and one unfortunate and unexpected event could take it all away.  For your business consider contingency planning and include insurance coverage in that master plan. Business insurance is a way to transfer risk away from you and to another responsible party.

Consider some of these examples:

Garage Claims Example

Insured was working on customer’s vehicle while it was on a hoist and the vehicle caught fire in the insured’s garage. The customer’s car was a total loss and insured’s carrier paid $40,000.

Insured was working on customer’s vehicle that was left in neutral. The vehicle rolled out of the garage into the parking lot and into incoming traffic. It hit a pickup truck and a man on a motorcycle. The claim had Damage to customers vehicle $20,000, damage to the pickup truck $8,000, Motorcycle Damage $5,000 and Bodily Injury damage to the driver of the Motorcycle $30,000.

Customers Vehicles were parked beside the garage on the insured’s property within a secured area. The vehicles were all vandalized. Equipment was stolen out of the vehicles resulting $12,000 Property Damage.

Small Business Claims

A women slipped on a raised portion of sidewalk at insured’s premises, fell down and broke one of her legs also incurring a spinal injury – This claim for bodily injury was $50,000.

A woman fell in parking lot when she tripped over a wheel stop. She broke her arm and caused damage to her rotator cuff resulting in a $60,000 claim.

Man tripped over a rug in an office, fell and broke his leg resulting in a $15,000 bodily injury pay out.

Contractor

Former employee of contractor came by to visit job site of contractor fell off roof. The bodily injury resulted in a $50,000 claim.

 

 

Hotel

Insured owned Hotel – The insured kept a dog in the hotel lobby. The dog bit a small child in the face. A $50,000 bodily injury claim resulted.

Hotel caught fire from a heater causing damage to 7 rooms resulting in a property damage claim of $250,000.

Restaurant

Person walking up ramp at restaurant which was not well lit or marked, the claimant fell causing bodily injury. The carrier paid $50,000.

Workers Compensation

Condominium housekeeper was walking up the stairs and slipped. She sustained a back injury. The workers compensation claim incurred was $90,000.

A worker cut finger on the job and was treated and released from the emergency room with a few stitches. The worker later got a staph infection and had to be hospitalized. The bodily injury on this minor accident ultimately resulted in a workers’ compensation claim of $50,000.

Leased Space

Insured had a tenant that placed a lit cigarette in a trash can. The entire building burned which resulted in a fire damage claim of $400,000.

Call us and let’s have a conversation.

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