The U.S. Securities and Exchange Commission has begun to crack down on companies it deems to have breached securities laws by making inadequate cybersecurity disclosures, a policy that shows no sign of slowing down.

As a result, businesses have been advised to establish clear internal communications strategies on cybersecurity issues, and to also examine their directors and officers liability insurance and cyber liability policies to determine whether they have adequate coverage if the issue arises.

Some SEC cyber disclosure actions have resulted in penalties of up to $1 million. Industry experts attribute the increased attention on cyber intrusion preparation to the reality of cyberattacks in the economy today, and an alarming lack proper preparation on the part of organizations to fight it.

The agency will likely become even more aggressive in the future, as the SEC is expected to have less tolerance for organizations that don’t take the basic steps to protect sensitive data.

Companies should develop incident response plans that include how to deal with a vulnerability’s discovery before it becomes an intrusion, then make sure the infrastructure is in place to address that vulnerability. Organizations need to get a clear picture of their own cybersecurity environment and communicate regularly about roles and responsibilities. Also, a well-constructed D&O policy should cover investigation costs in the event of a breach.

It pays to invest in solid cyber security plans, whether or not the SEC or any other entity is looking for problems. It’s just good business these days. Contact the professionals at Evergreen Insurance for guidance on cyber security.
 
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.

Source: https://www.businessinsurance.com/article/20210831/NEWS06/912344206?template=printart

Bundling insurance policies can be beneficial to your business. While bundling can save you money, you can also ensure you have all the coverage you need and that your policies work together. Click on the image to download or print the information sheet.

Ever since the pandemic, more employees have switched to working remotely. With this reality, employers need to be aware of the threat of cyberattacks on their remote workers. Employees may be using personal devices or not be connected to a secure network, which can be an easier targets for hackers. Click on the image to download or print the safety sheet.

Business travelers typically carry valuable company data and can be vulnerable targets for cybercriminals. If you are neglecting cybersecurity while traveling for your business, a breach could be detrimental to your company. Click on the image to download or print the safety sheet.

Organizations and businesses everywhere can face general liability exposures from the kind of work they perform and where it is executed. It’s important for your business to understand where these exposures are so you can avoid legal or financial responsibility for damage to another party. Click on the image to download or print the information sheet.

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.

As an employer, the health of your employees should be a priority. If an employee gets injured on the job, you may not be aware of what goes into resolving the claim. Click on the image to download and print the information sheet.

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.

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.