Tag Archives: business insurance michigan
Think about this: If you walked into your office tomorrow and discovered all computers had been stolen, what would you do? When would you be able to resume work? How would that down time affect your business?
This stuff really happens!
Protect Your Assets
Two businesses we insure are thanking us for helping them understand why they should add Employment Practices Liability to their business insurance policies, as they are being sued by either an employee or a former employee.
A typical commercial insurance policy does not provide coverage for the physical loss or damage to a laptop. It will also not cover your legal “data breach” requirements if your device was storing customer, vendor and employee information. You will need to purchase an inland marine policy (or an electronic data processing policy) to cover the laptop and “data breach” coverage to your policy to cover the costs associated with loss of that information.
Another business we insure is thanking us for helping them understand why they should add “Money and Securities” coverage to their insurance policies, as cash in their store recently was stolen.
Any organization with cash on site is at risk of loss due to theft or burglary. Don’t just assume that money is covered or that your coverage is adequate!