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Dec 06
On Our Mind: Preparing for a Cyber Breach

By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & Development

It seems like every day there is another notice about a security breach. We've all most likely heard about the biggest ones- Yahoo (3+ billion accounts affected); Marriott (383 million accounts affected) Equifax; Home Depot; Target... the list goes on and on.

However, there are so many “smaller" breaches we may not hear about- firms like Blur (a password manager with 2.4 million accounts); Town of Salem Video game;; benefit mall; Blackrock Inc.; Huddle House; Rubrik and too many others to list here- but I think you get my point.

What if something happened to your business? How many people would be affected? You have personal information about your clients- social security numbers, dates of birth, drivers license number, addresses and probably banking information if they pay by EFT. Would you be able to fully recover from the loss of reputation? loss of business? loss of referrals? Loss of income? And what about the cost of recovery? How much time, money and people will need to be involved to help you “get back to normal"? After all we are risk managers and what is more important than managing this type of risk for your business?

Now let me ask the same questions with a bit of a twist. How many of you have small to medium size businesses as clients? Are you having these conversations with them? Are you asking them to think about what would happen to their business if they sustained a security breach? More importantly, are you setting yourself up for an E+O claim for NOT having these conversations with your clients? What if they did indeed suffer a breach and were not covered because you didn't recommend this type of insurance protection?

Here are some related upcoming classes/webinars that I feel are very much worth your time.

 ABEN Cyber Exposures and Ins Training for Agents and Brokers

 ABEN Little This a Little That: New Threats & Possibilities​

Dec 06
Carriers Requiring You Add Them to Your Cyber Liability Policy

​By Brian Bixby, IAAC President

We've heard from many members that their carrier is now requiring the agency both carry cyber liability coverage and name them (the carrier) as an additional insured on the policy. 

Many cyber liability companies aren't allowing this, putting agencies at risk with their carrier.

We have a market that will.

Reach out to Brenda Strong or me today to secure this very inexpensive, valuable coverage or to add the carrier your existing policy.

Brenda: 315-432-4247 |
Brian: 315-432-4233  |   ​

Dec 05
Two Minutes With Tim: NY Cyber Reg - Certification of Compliance Reminders

​If you received an email from the New York State Department of Financial Services about the certification of compliance, here's what you need to know.​


Dec 02
Agency Owners: Protect Your Hard-Earned Value by Insuring These Seven Risks
Dec 02
On Our Mind: The Weird, Unusual, & Crazy

By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & Development​​

Over my thirty…err, many years in the insurance industry, I handled numerous claims - usually in the “fender bender" or “small house fire" category. I've had my share of larger claims where my clients suffered big financial, personal and/or professional losses and we were there to help them, as best as we could, to get their lives back together again. For that I am very proud and humbled.

The weird, unusual or just plain crazy loss notice crossing my desk sometimes made me laugh, and some made me wonder if our clients have the proper coverages for any future similar loss.

A few days ago, I heard about one of the most bizarre, strange and frankly frightening losses ever to cross my path.

Here goes… (only the names have been changed).

A couple of weekends ago, Joan's husband, Tim, was working on their family salt water aquarium.

He was attempting to remove some palythoas (a type of zoanthid coral) from the rock structure in their tank. As he was removing the palythoas, they released a toxin that went airborne, which the entire family unknowingly ingested.

A couple of hours later, after everyone was fevered, coughing and having difficulties breathing, the whole family ended up in the ER.

Her son, Doug, was admitted with a 107o temperature.  After a decontamination shower, he and sister, Kathy, were airlifted to Children's Hospital, while Tim was on the verge of intubation and was facing kidney failure.  Joan and Tim experienced the joys of a decontamination shower too, just before being admitted to the ICU at the local hospital.

The ER staff was in a bit of a panic because the County Poison Control didn't have a protocol on how to handle palytoxin poisoning. They bagged and incinerated all of the clothes and belongings that they had brought with them to the ER.

Turns out, palythoa toxin is one of the world's deadliest toxins.  Had they stayed in the house overnight, and not gone to the ER and been admitted, they all would have died.

So, after a collective 18 days in ICU and 2 helicopter rides, everyone is back to school and work. 

It was an interesting ordeal and a medical rarity, so a toxicologist and one of the doctors is going to write up the case study for the medical journals.

I told you it was bizarre, strange and frightening.  Now, while I can't promise you a class in the near future about the deadly toxins of salt water aquariums, I think we have many interesting and topical webinars and classes coming up the remainder of this year and well into 2020. This is another opportunity to gain knowledge and become even more valuable to your clients.

Here are some upcoming webinars that perhaps can help you with your insurance knowledge…

Risk, Risk Management and Insurance: Why Agents Are NOT Risk Managers​

Alphabet Soup: The Mistakes & Coverages- DO, EPLI, FLI & EBL

Homeowner's Policy Coverage Concerns for the Modern Family

Everything's Soaked and My Stuff Stinks: Water Damage Webinar

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