We all know the saying “your home is your castle” and it is extremely important to know for certain, that it stays safe from life’s unexpected threats. In order to secure it from any kind of financial harm, you may consider buying a Homeowner’s Insurance (also known as Hazard Insurance). From one side, you have to be sure that your house is absolutely protected because life is full of unexpected hazards, but on the other side, this industry has changed a lot, so insurers hiked deductibles, scaled back on coverage, and added new restrictions. Few homeowners take the time to read their policy and, even if they do, may not realize how one phrase, sometimes one word,can mean thousands of dollars. Continue reading
For law firms, protecting the confidential data of clients any unintended leak of information related to intellectual property or a prominent legal case can be disastrous.
Many lawyers are often asked to safeguard sensitive information, but their ability to do so can be undermined by weak cyber security and determined hackers. If firm’s security is breached, cyber insurance may help protect against subsequent losses.
Key Marsh 2014 Cyber Survey Findings:
- 79% of respondents in aggregate viewed cyber/privacy security as one of their top 10 risks in their overall risk strategy.
- 72% said their firm has not assessed and scaled the cost of a data breach based on the information it retains.
- 51% said that their law firms either have not taken measures to insure their cyber risk (41%) or do not know (10%) if their firm has taken measures.
- 62% have not calculated the effective revenue lost or extra expenses incurred following a cyber-attack.
Personal injury is a legal term meaning bodily injury or emotional distress which is caused by a type of tort or by the negligence of another. Negligence is defined as conduct that falls below the standards if behavior established by law for the protection of others against unreasonable risk of harm.
- Intentional torts can result from intentional acts such as battery, assault, intentional infliction of emotional stress and others.
- Negligent torts also called “prudent man rule” result from failure to behave with the level of care to someone whom he or she owes a duty to (i.e. failing to obey traffic rules)
- Strict Liability torts are caused by virtue of a wrongful act, without any accompanying intent or mental state.