Data Breach Fatigue

October is National Cybersecurity Awareness Month. In recent years, cyber attacks have increased in frequency. This can result in data breach fatigue as consumers and organizations become desensitized to breaches. Don’t become complacent to cybersecurity needs in your business. Click on the image to download or print the safety sheet.

Respiratory Protection

Workplaces should be aware of any risks to their employees’ respiratory health. Air particles, dust, and fumes can be dangerous, especially when they are breathed in every day. Make sure your company is dealing with respiratory protection correctly. Click on the image to download or print the safety slides.

New Location Addresses for Evergreen Insurance Offices

Evergreen Insurance is excited to announce that in the next few months, we are going to be relocating two of our physical office locations. Our staff remains the same, and we are ready to continue to assist you with your insurance needs.

The two physical locations that will be changing are our offices located in Ebensburg and Greensburg.

  • Our Ebensburg location will be changing from 196 Industrial Park Road, Ebensburg, PA 15931 to 416 South Center Street, Ebensburg, PA 15931
  • Our Greensburg location will be changing from 701 East Pittsburgh Street, Greensburg, PA to 1000 Village Drive, 4764 State Route 30 East, Greensburg, PA 15601

The exact dates of the location changes are still to be determined, and as those details are finalized, they will be shared with you. We will also be posting updates here on our website – as well as on our LinkedIn, Twitter, Instagram, and Facebook pages. Be sure to follow us on social media to stay up-to-date!

If you have any questions about these changes, or if we can be of assistance to you, please call us at 800-662-2020.

Restricting the Flow: Cyber Attacks Impact Supply Chain

Cyber threats have the potential to impact all facets of the supply chain.

An attack against the Colonial Pipeline in the U.S. in May 2020 illustrated how vulnerable critical infrastructure can be as an attractive target for cybercriminals and even other nations hostile to the American economy. The attack – made possible through a single password breach, as disclosed later – shut key conduits delivering fuel from Gulf Coast refineries to major East Coast markets.

According to industry sources, shipping and logistics companies saw three times as many ransomware attacks in 2020 as in 2019. A spike in malware, ransomware, and phishing emails during the pandemic helped drive a 400% increase in attempted cyberattacks against shipping companies through the first months of 2020, as well.

While shipping represents a major element of overall supply chain operations, the looming threat of cyber attacks remains just as present and prevalent in every other link of that chain.

As the world economy continues to regain its footing in the wake of the coronavirus pandemic, supply chain issues have contributed to inflationary pressures and the less-than-rapid recovery many had hoped to see. Preventing malicious actors from further disrupting the supply chain remains a key priority.

Cybersecurity impacts every business, regardless of size or location or industry. Make sure your business deploys all preventative measures possible, and have regular reviews of your cybersecurity insurance coverage to protect against potential losses.

Contact the professionals at Evergreen Insurance for more information.

Copyright 2022 Evergreen Insurance

Evergreen Insurance provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

Waiver of Subrogation: Added Protection, Added Costs

So much of insurance revolves around who is at fault and who has to pay to make things right again. Waiver of subrogation is one more wrinkle in that complex equation.

Subrogation occurs when an insurer pays their insured for a loss caused by a third- party, and then attempts to recoup their payout by making a claim against the responsible third party.

For instance, if you’re in a car accident and it was the other party’s fault, your insurer pays for repairs to your vehicle and then pursues the other person’s insurance company for the loss. In your insurance policy, which is a contract between you and your insurance carrier, you agreed to allow the carrier to subrogate for any paid loss.

In a typical business contract, one business may ask another business to waive its rights of subrogation because the first business doesn’t want to be held responsible for a loss. When agreed to in such a contract, it prevents the business, and its insurer, who has agreed to waive their right, from seeking a share of the damages paid from the other party, even if they are at fault.

But be aware that when a business gives up its right to recover any losses, it increases the insurer’s risk and transfers responsibility to the insured and its insurer for sometimes uncontrollable losses. This can lead to unnecessary loss history and potentially increased insurance costs.

Conducting regular contractual reviews with your insurer agent can easily point out these exposures and help to you to understand and sometimes negotiate this requirement out of your risk profile.

Contact the professionals at Evergreen Insurance for more information.

Copyright 2022 Evergreen Insurance

Evergreen Insurance provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

Wrap-Up Insurance for Construction Projects

Larger construction projects involve lots of separate parties coming together. When it comes to insuring the risks, it is common for each party to have their own liability policies. An alternative is a wrap-up insurance policy that protects everyone under one policy. Click on the image to download or print the information sheet.

Rates Held Ransom: Increased Breaches Impacting Coverage Terms

As instances and the scope of ransomware events, and losses associated with them, continue to increase, some insurers are tightening their standards in providing cybersecurity coverage.

According to industry experts, insurers are restricting capacity and implementing increases in premiums to accommodate for businesses not keeping pace with the threat of malware and other online attacks.

Ransomware events began to climb in 2019, leading to the continuing response by insurers. On average, insurance rates have doubled since the surge in attacks began, with rising reinsurance costs expected to drive those rates higher.

Insurers certainly are not abandoning cyber liability coverage, but recognize the underlying issue is that while coverage may be adequate today, the rapidly evolving risk means it may not be adequate tomorrow.

Business owners can help their own cause by implementing as many precautions against online attacks as they can, which can contribute to keeping their insurance costs manageable under the circumstances.

The digital universe has opened a world of opportunity for businesses to grow, expand, and succeed. But the flip side of all that openness poses a threat that continues to grow, expand, and succeed as well.

Managing that risk will be a challenge for business owners and their insurers for the foreseeable future. Eternal vigilance may be the price of liberty, but it’s also the price of keeping your data protected online.

Contact the professionals at Evergreen Insurance for more information.

Copyright 2022 Evergreen Insurance

Evergreen Insurance provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.