When providing employees with company cars, check to see if they have their own automobile policy. If not, drive-other-car coverage can help protect you from any gaps in policy. Click on the image to download or print the information sheet.
Grain dryers can be very helpful and efficient when harvesting crops. However, they can be dangerous if not used properly, especially when it comes to starting fires. Click on the image to download or print the safety sheet for tips on how to prevent grain dryer fires and keep your work area safe.
Despite the approaching back-to-school season, the summer weather is still strong. There are a lot of dangers when the temperatures are high. Click on the image to download or print the safety sheet for tips for fighting the summer heat and avoiding heat related injuries.
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.
Renters insurance can be helpful in protecting your belongings. However, there are many misconceptions about what renters insurance entails. Click on the image to download or print the list of myths.
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.
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.
It’s already time to head back to school! Do you have a child headed off to college? Before you pack up the car, review your current insurance policies and consider adjusting them to ensure that your child is covered. Click on the image to download or print the information sheet.
Personal injury protection coverage can protect your wallet when no-fault insurance is in place. Click on the image to download or print the information sheet.
Swimming or participating in water sports is one of the best ways to cool down this summer. While water activities can be fun, they can lead to accidents, including drowning. Today is National Drowning Prevention Day, so take a minute to read over tips on how to avoid dangerous accidents. Click on the image to download or print the safety sheet.
