News

New Address, New Terms of Coverage?

As a business gains traction, achieves success and expands, it can outgrow its original location and facilities, making a move to a new, larger site necessary.

Don’t forget to consult with an insurance professional as part of researching that new location, however. The results can be either advantageous or detrimental to your ongoing financial health.

Any change in how a business operates – including where it positions its facilities, equipment, and personnel – requires an analysis of coverage. Physical location can be impacted – either positively or negatively – by factors including:

  • The likelihood of severe weather, like hurricanes, windstorms, tornadoes, or hail.
  • Does the property sit in a floodplain? Is flooding becoming more common due to the effects of climate change?
  • Whether the area shows a statistical trend regarding crime, vandalism, and theft.
  • The condition of existing infrastructure, such as plumbing, electrical wiring, and HVAC, as these help to determine the chances of causing fire or water damage.

Similarly, a new service or line of products pursued as part of a business’ expansion plans also introduce new variables in terms of number of employees, equipment needed, safety procedures, and much more – all of which need to be incorporated into a package providing the best insurance coverage possible.

“New” in the world of business should mean “better.” To safeguard your investment on the road to improving your overall performance, make sure you have the right insurance protections in place, as well.

Contact the professionals at Evergreen 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.

UM/UIM Coverage

If you own a business and an employee gets in an accident on company time with someone who is uninsured, it can put a lot of strain on you and your company. Uninsured motorist and underinsured motorist coverage can be very helpful in these situations. Click on the image to download or print the information sheet.

Individual Life Insurance

Life insurance at work is a nice benefit, but it may not be enough to protect your family. If it isn’t enough to cover the mortgage, childcare, medical expenses and ongoing bills, you probably need an individual policy. We can help! Contact the team at Evergreen to get an individual life insurance policy today: https://evergreeninsurance.net/products/life-health/individual-life/

SEC Watching Cyber Protections Closely

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

Carbon Monoxide Safety

November 5th is the start of Carbon Monoxide Safety Awareness Week. Carbon monoxide is deadly, and it can be hard to detect since you can’t see, taste, or smell it. Click on the image to download or print the safety sheet for tips to detect and prevent carbon monoxide in your home.

Preventing Cyberattacks on Remote Employees

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.