Remote Workers And Cyber Security Risks

There are more remote workers in American today than at any time in our recent history. Many employers are embracing this trend, but there are new risks to consider. As a result of this distant work environment, a crucial problem arises in new security threats. In our digital age, businesses have had to improve their cybersecurity, yet cybersecurity dangers have increased significantly due to remote labor. Employees who work from home are at a significantly higher risk than those who work in offices.

Ransomware attacks are also a big concern for more than two-thirds (69%) of IT executives, who anticipate that the hybrid workplace will be a target for ransomware. Targeted organizations faced a threat to their business continuity as a result of these attacks.

Sharing a computer and using it for personal purposes are two different things. It may seem self-evident, but sharing a business computer with family or roommates can be a security concern. This should be avoided at all costs, especially if your work result contains sensitive customer information.

Cyber Tips For Remote Workers

  • Keep devices patched and up-to-date.
  • Accommodate the increase of remote VPN workers.
  • Proved employee training.
  • Require passwords to be updated regularly, use PW managers.
  • Use cloud software for file management.
  • Use only secure Wi-Fi.
  • Have good backup systems

Have a good cyber liability insurance plan in place. Cyber liability insurance is a type of insurance that offers a variety of coverage choices to help organizations protect themselves from data breaches and other cyber security risks. It’s not a question of whether, but when your company will be hacked. Policyholders with cyber insurance can also use tools and services to manage and minimize cyber risk both before and after a breach.

For remote employees, cybersecurity necessitates ongoing monitoring. Give us a call if you’re concerned about your present remote security practices. We’ll examine and put safeguards in place that will allow your remote workers to work securely and productively.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

Commercial Liability Insurance

We understand all businesses are unique. Just because you are a small or medium-sized business does not mean you are exempt from litigation. All businesses need General Liability Business Insurance to protect your organization from unforeseen events. General Liability Business Insurance should be the foundation of your insurance program.

General Liability Insurance provides the following coverage:

  • Bodily Injury– Bodily Injury to a third party.
  • Property Damage– Damage to a third party’s property (equipment building etc.).
  • Personal Injury– Injury to the mind or emotions, as opposed to an injury to property.
  • Advertising Liability– Damages arising out of advertising, libel, slander and invasion of privacy.
  • Products & Completed Operations– Liability arising out of the Nonprofits products or business operations and services conducted, excluding Professional services.
  • Premises-Covers liability arising out of injury to third parties while on your premises.
  • Medical Payments- A general liability coverage that reimburses others, without regard to the insured’s liability for bodily injury while on your premises.

General Liability Insurance is designed to cover defense costs as well as judgments. It is an important part of your insurance program that we recommend for your organization.

Call us today for more information on a complete business insurance program. We know there are as many unique insurance needs as we have neighbors who live here! To talk with one of our helpful team members about your insurance needs, contact us today.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining a focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

How Insurance Protects Your Financial Future

Insurance is designed to provide the financial resources you need in the event of an un-expected loos.  This could be form an auto accident, home fire, disability or even a loss of the primary bread winner.

There are many personal insurance solutions and products that can provide the protection you need to help you manage your future financial wellbeing. Your current premiums are intended to help cover you in the future. What if your home was lost in a natural disaster? Will you be able to afford substantial repairs or a full rebuild? The cost of dealing with this catastrophe will be more than you can handle, as well as more than you have charged in insurance premiums.

What Kind of Insurance Do You Need To Protect Your Future?

Life Insurance – Life insurance provides real security for those you care about. Life benefits can provide financial security and resources for your family or loved ones after you are gone. Life insurance can provide funds to; pay off debt, un-paid medical expenses, funeral expenses, future living expenses, college, and more.

Home Insurance – Homeowners insurance is a form of insurance that covers losses and damages to an individual’s residence, along with furnishings and other assets in the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property.

Health insurance – Health insurance is important to have, no matter what your situation is. If you don’t have affordable health insurance through your work, you might be able to qualify for a tax credit to make it affordable on the health insurance exchange.

Auto Insurance – Car or truck insurance is needed if you drive a vehicle. Almost every state mandates some kind of insurance. However, if your vehicle is inexpensive or you are confident in your ability to replace it, you can only need liability coverage.

 

How To Reduce Your Business Insurance Cost

Saving money on business insurance is not always an easy thing many companies to do. You have many options regarding insurance agents and insurance companies that at times can be confusing. We specialized in the entertainment industry that is all we do. We have a proven track record of providing the right combination of pricing and coverage, along with experience and responsive service.

There are a number of ways to reduce your business insurance cost without jeopardizing coverage. Here are a few

1. Use a broker who knows and understands your industry. Having an understanding of the risks, and what markets best are suited for your risks, can result in lower costs. Have us shop your insurance. We have access to many insurers, this allows us to offer many options.
2. Provide driver’s training- having educated and trained drivers can reduce your business auto insurance cost up to 5%.
3. Have proper safety equipment.
4. Use special markets. There are insurers that specialize in your industry. .
5. Increase deductibles. Insurers often will provide good credits if you increase your deductibles on property or auto physical damage.
6. Reduce your risk, Talk with your insurance agent about how you can help prevent insurance losses. You may be able to reduce your exposure to fires, work-related accidents, disasters or lawsuits. Reducing these risks may lead to fewer claims, which may lower your insurance premium.
7. Keep up to date with current liability trends; liability claims tend to be the most significant claim with most aspects of insurance.

Having insurance premiums reduced by cutting corners is not the ideal way to deal with high insurance premiums. That’s a case of addressing the symptom – not the problem. Lowering premiums by reducing the risks posed and faced by your business is a far healthier solution.

Personal Umbrella Insurance

Many people are unsure what an umbrella policy is or what it covers. When you are outside, and there is a light rain or breeze, you generally don’t need or want an umbrella. However, if it is pouring down rain with high winds, you take your umbrella. An Umbrella Insurance policy works much the same way.

Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. Just as an umbrella protects you from heavy rain, an Umbrella Insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella Insurance can provide limits above your personal auto and home policies. Umbrella insurance is also competitively priced.

It is true that Umbrella Insurance may not be for everyone, but if you are building financial resources for your future, are a professional, own your home, boat or recreation vehicle, you should consider an Umbrella Insurance policy. Insurance offers Umbrella Insurance with very competitive rates. Having the added protection of an Umbrella Insurance policy is coverage no one should go without.

Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of homeowners, auto, and boat insurance policies. It can also provide coverage for claims that may be excluded by the primary policies.

When You May Need An Umbrella Policy

  • Having rental property
  • Owning a Boat, RV, or ATV
  • Have a high net worth
  • Owning a business
  • Having teen drivers
  • Own a swimming pool, trampoline, or swing-set

In addition, the umbrella may cover things like volunteer activities, statements made online, and certain business activities that a homeowner’s or auto policy might not cover.

Why Work With Our Insurance Agency?

  • We know and understand your risks
  • We are a full-service independent insurance agency
  • Our goal is to provide the best possible combination of coverage, price, and service.

 

How To Avoid Contractor Insurance Scams

As a homeowner, you carry homeowner’s insurance to protect yourself in case of damage to your home. A devastating storm can leave flooding waters, property damage, and personal injuries in its wake. Perhaps one of the least expected dangers that follow a storm is fraudulent contractors. Most contractors are honest and work hard, but some will follow disasters and try to take advantage of you.

After recent storms and major disasters, a few unscrupulous contractors use a trick to defraud homeowners every year – convincing them to sign away their rights through an Assignment of Benefits (AOB) form.

A contractor or repair company representative will often tell you that an Assignment of Benefits or “AOB” form is necessary for them to do work on your home. They may promise it will make the process easier for you as it will allow them to “handle everything.” They might even offer to lower or eliminate your deductible if you sign the form immediately.

Don’t allow contractors to start work before the damage is assessed by your insurer. Most importantly, don’t sign an AOB form. We are here for you and can help you navigate the claims process and avoid contractor abuse and fraud.

  • Use well know contractors
  • Ask for a written contract
  • Ask to see proof of insurance and licensing from the contractor
  • Make sure your agent and insurance company is involved.
  • Have your claims adjuster inspect all damage?

Five Things People Should Know About Insurance

For many people, insurance can be difficult to understand.  Most people know that insurance is needed, but often they do not fully understand what they are buying or if they are properly covered.  That is why it is important to have an insurance agent on your side.  A good agent will help you determine what your insurance needs are, educate you about your options, and help you understand the specifics of the insurance you are buying.

Here are five things that you need to know as you consider your insurance options.

  • You cannot add coverage for a claim that has already occurred. For example, if there is flooding in your area, you cannot buy flood insurance during an event.
  • Coverage gaps can be costly. Having a gap or lapse in coverage can be costly. Always pay your premiums on time, or ask for a grace period from your insurer.  You will end up paying more if you have lapses in your policy.
  • Insurance is not intended to cover everything. Insurance is designed to provide financial recovery after an accident or unforeseen loss. Every policy has exclusions which are important to understand. Remember, insurance is not intended to cover regular maintenance.
  • An agent can be a valuable resource. A licensed agent can help you find the best possible combination of coverage, price, and service that fits your individual needs. A good agent will be willing to answer any questions you may have and be there for you when a claim occurs.
  • Do not skimp on liability insurance. The cost of litigation these days underscores the need for everyone to have an adequate amount of liability insurance.  The greater your assets are, the greater your need is to have your assets covered.  To protect yourself and your family financially, buy enough liability insurance on your auto and home insurance policies to cover above your net worth.  We can help you determine how much coverage your individual needs require.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

Five Things People Should Know About Insurance

For many people, insurance can be difficult to understand.  Most people know that insurance is needed, but often they do not fully understand what they are buying or if they are properly covered.  That is why it is important to have an insurance agent on your side.  A good agent will help you determine what your insurance needs are, educate you about your options, and help you understand the specifics of the insurance you are buying.

Here are five things that you need to know as you consider your insurance options.

  1. You cannot add coverage for a claim that has already occurred. For example, if there is flooding in your area, you cannot buy flood insurance during an event.
  1. Coverage gaps can be costly. Having a gap or lapse in coverage can be costly. Always pay your premiums on time, or ask for a grace period from your insurer.  You will end up paying more if you have lapses in your policy.
  1. Insurance is not intended to cover everything. Insurance is designed to provide financial recovery after an accident or unforeseen loss. Every policy has exclusions which are important to understand. Remember, insurance is not intended to cover regular maintenance.
  1. An agent can be a valuable resource. A licensed agent can help you find the best possible combination of coverage, price, and service that fits your individual needs. A good agent will be willing to answer any questions you may have and be there for you when a claim occurs.
  1. Do not skimp on liability insurance. The cost of litigation these days underscores the need for everyone to have an adequate amount of liability insurance.  The greater your assets are, the greater your need is to have your assets covered.  To protect yourself and your family financially, buy enough liability insurance on your auto and home insurance policies to cover above your net worth.  We can help you determine how much coverage your individual needs require.

 

The Future of Risk

Business Insurance Trends

The business insurance world is changing at a fast pace. Technology is continually evolving and businesses must change or die. New technology also brings a change in claims and litigation. Often lawsuits filed today are indicators of business liability claims tomorrow.

Business Insurance

Business or commercial insurance coverage is available for almost every conceivable risk your business might face. The cost and amount of coverage of policies vary among insurers.  Also, the type of business you are in also impacts cost and coverage.  You should discuss your specific business risks and the types of insurance available for your business with us.

Future Business Insurance Risks

Intellectual Property

This is one of the fastest-growing areas of litigation. The average defense cost in 2019 was over $500,000. With more information being disrupted over the internet, claims are sure to increase. Intellectual property insurance coverage protects companies for copyright, trademark or patent infringement, and claims arising out of the company’s operation.

Cyberattacks

Recent news that Russian cyber thieves stole billions of passwords should create heightened awareness about the risks and need for cyber insurance. The problem, Munich Re explains, stems from the fact that “most traditional property and liability policies provide no cover for cyber risks” although there still may be a duty to defend until such time as coverage is determined.

Social Media

Social media is becoming popular with many businesses, and this increases the liability risks. The combination of personal use and business use combined with privacy laws increases the risk to the business of being sued by employees and other third parties. There is a definite increased risk of defamation, libel, and slander for firms who don’t outsource the service.

Directors & Officers Liability

Most business owners don’t believe they can or will be sued despite statistics that show otherwise. The latest number by Chubb Insurance Company shows that about 20% of firms have been sued for directors and officers negligence. Claims can be made by shareholders, regulators, family members, customers, vendors and competitors.

 

Are You Starting A Home Business?

Do you want to start a home-based business? Having a home business of your own is a good way to make a living. Keep in mind that if there are risks involved. Most home-based businesses do not have the same risks as other businesses, including buildings, employees, production machinery, and a fleet of vehicles.

However, home-based businesses do have many risks that need to be considered.

Do Some Pre Planning

  • Check with your local zoning to see if home-based businesses are allowed
  • If you are planning on having customers visit your home, you may need special permits.

Home Based Business Risks Can Include

  • Product liability
  • Professional Liability
  • Injury or damage to customers
  • Auto accidents
  • Disability
  • Cyber breach
  • Property loss and damage
  • Crime and dishonesty
  • Cyber liability
  • Web page copyright liability
  • Employees or contractor’s issues

The key is to understand what these risks are so you can take the necessary actions to make sure that your business is protected. It’s important to carry the right commercial insurance to protect your business in case of an unforeseen event. Hire a reputable insurance provider to help you assess the potential risks and determine which types of policies meet your business needs.

As an independent insurance agency we are affiliated with multiple industry-leading companies. It is these partnerships that allow us to provide our clients with better coverage at a competitive price. Our staff is knowledgeable and committed to providing a quality customer service experience to our valued clients.