When cyber attacks like data breaches and hacks occur, they can result in devastating damage. Businesses have to deal with business disruptions, lost revenue and litigation. It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component to any risk management program.
Cyber liability insurance policies are tailored to meet your company’s specific needs and can offer a number of important benefits, including the following:
One of the most important types of insurance you company can buy is Excess Liability Insurance, commonly known as Umbrella Insurance. It protects your business from holes or limits in existing policy coverage as well as from financially draining lawsuits. Just as you carry an umbrella to protect you from a potential downpour, Excess Liability Insurance protects your company from the types of claims that could close your business.
Whether you’re a nonprofit, privately held or a public company, it is likely that your business can benefit from a D&O (Directors and Officers) Policy. In today’s business climate of corporate transparency and accountability, an organization’s officers and directors face a myriad of employment related exposures.
Insurance-based retirement plans (IBRP) may be able to protect your family’s future through a death benefit while you save for retirement with the same product.
As your personal situations change (i.e., marriage, birth of a child or job promotion), so do your life insurance needs. Care should be taken to ensure your strategies and products are suitable for your long-term life insurance needs. Weigh your objectives, time horizon and risk tolerance as well as any associated costs before investing.
Also, be aware that market volatility can lead to the possibility of the need for additional premium in your policy.
Life insurance fees and charges associated with plans include costs of insurance that vary with such characteristics of the insured as sex, health and age, underlying fund charges and expenses, and additional charges for riders that customize a policy to fit your individual needs.
Potential problems may exist with life insurance policies purchased from ANY life insurance company during the 1980s, 1990s and pre 2008.
Many of those life policies have sustainability that is linked to interest rates and performance of the stock market. Interest rates have steadily declined and are at historic lows; also the stock markets over the last decade have under performed.