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Charlie E. Bernier

Charlie E. Bernier
Charlie Bernier is an attorney and principle professional liability consultant at ECBM Insurance Brokers and Consultants in our corporate office in Conshohocken, Pennsylvania. Recognizing a need for more comprehensive cyber insurance coverage than what is typically included in a General Liability policy (if included at all), Charlie worked with an A+ rated carrier to create a cyber insurance policy that doesn’t include the multitude of exclusions that are found in traditional policies. His intimate knowledge of cyber insurance has led Charlie to speak at numerous conferences and cyber security industry events.
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Recent Posts

Property Insurance Companies are Pulling Their Florida Policies

Florida may be experiencing one of the most significant influxes of new residents, but its also experiencing a mass departure - of insurance companies. Homeowners and property owners alike are receiving cancellation notices from their insurance carriers with no real warning. It's not just a few policies here and there either. Some insurance carriers are pulling out of the state of Florida entirely. Similar to when California wildfires led insurance carriers to flee, residents and businesses are scrambling to secure coverage for their property. But unlike in California, there has been no regulation put in place to stop insurance carriers from pulling out. Now, Florida property owners are at risk of losing coverage during high-risk times and seek new ways to protect their assets amidst the carrier cancellations.

Most Common Types of Insurance Claims for Businesses

Every business has insurance, and most would consider it a positive investment. In some instances insurance is required by law, but in many cases, businesses choose to purchase a plan for their own safety. Whether it be a home, car, or professional plan- insurance provides businesses protection in the event of a catastrophic or unforeseen loss. Of course, most never assume they will experience a significant loss that requires them to use their insurance. In reality, 40% of small businesses file an insurance claim of some kind and 75% of businesses are underinsured to some degree.

Surprising Cyber Threats that Could Be Putting Your Business at Risk

2021 saw higher cyber threats than any other year to date. Even with the advanced knowledge experts have on cybercrime, the new developments in preventative tactics-hacking schemes have become more difficult to detect in advance. With the increased attention on cyber, most people are paying more attention to vulnerabilities in their personal and professional lives. We commonly associate cyber fraud with things like social security numbers, email schemes, and fake websites. Though these areas are highly infiltrated with cyber security risks, there are other areas people should be directing their attention to. Hackers and professional cybercriminals are aware of the increased protection and attention to common risks and are putting their efforts elsewhere as a response. Being aware of surprising cyber threats that your business could face can help you implement better practices and protect your business.

Will Inflation Effect My Insurance Premiums?

We are currently facing the most significant wave of inflation in close to 40 years. This March experienced 8.5% higher prices compared to the year prior, making it the biggest price increase since the 1980s. These rising costs are affecting every aspect of the American economy, from its manufacturing, distribution, laborers, and consumers. As the cost of goods goes up, so does the cost to insure them. Many people are concerned with the steady rise in costs and wonder, how will this affect my insurance plan? Can I still afford to protect my home, business, and other vulnerable assets? Inflation is caused by a variety of factors, but it's likely going to remain or increase over the next year or two. Understanding how inflation is affecting the insurance marketplace is key to being prepared for years ahead.

The U.S Prepares For Increase in Cyber Attacks Amid the Russian-Ukraine Conflict

The severe conflict between Russia and Ukraine has resulted in high-level cyber attacks and threats of imminent shutdowns reaching the west. Though the invasion of Ukraine by the Russian military escalated over this past weekend, the tension between the two territories has been steadily increasing over the past several weeks. Leading up to the invasion, Russian hackers have been shutting down Ukrainian websites, including important government and bank sites. These sophisticated cyber-attacks have cut off access to crucial resources for the Ukrainian people. Experts are going so far as to name these events the start of a true cyberwar. As more and more countries get involved in the conflict to aid the Ukrainian people, Russia continues to warn of consequences. The clear threat of more cyber hacks now has the potential to hit the US, and businesses are preparing for how to respond in the event that they are targeted.

The U.S Still Faces Covid-19 Liability Threats

With vaccinations up and cases mostly on a downward trend, one might think the threat of Covid is coming to an end. While in some ways it is, in others ways-its holding strong. The pandemic has introduced a precarious situation of having to put the blame for a spreading infection onto a specific party as people seek financial compensation for losses incurred due to Covid-19. And as businesses continue to face fines and legal obligations into 2022, it's important to be aware of professional responsibility in regards to the pandemic, as well steps one can take to protect themselves and their employees.

Blockchain to Disrupt the Majority of Industries, Including Insurance

Though blockchain has become a common topic in business and personal conversation, many don’t fully understand its purpose, or it's potential to change the digital landscape and disrupt industries. Blockchain technology was originally developed to secure emerging cryptocurrencies like Bitcoin. In essence, blockchain is a data structure that builds digital ledgers across a peer-to-peer network. Blockchain funding has more than doubled since 2018 and it will reach nearly $16B by 2023, according to a CB Insights research brief. The massive traction blockchain is experiencing is due to its ability to store and transfer data securely without the need of a trusted third party. Industries like finance, insurance, and even manufacturing are planning to utilize the technology to secure and simplify their processes. This will not only change the basic structure of the industries but change the ways in which we interact with these industries as well. The revolutionary and coveted abilities of this technology will result in a radically different future, evolving the way we do business, and how we protect our assets.

Cybersecurity Predictions For 2022

Cybercrime rates are the highest they’ve ever been, and experts don’t expect that to change anytime soon. Companies are expected to not only try and reduce the frequency of cybercrime in their organization but prepare to respond to cybercrime events that are inevitable. The 2020 Internet Crime Report revealed that in the past 5 years there has been an average of 440,000 complaints and that the number grew by 330,000 in 2020. Those 5 years combined have resulted in a total loss of $13.3 Billion.

Government Cyber Security Initiatives

The past decade has exponentially increased the world's radar on cybersecurity threats and vulnerabilities. These years have shifted society into a primarily digital where business, social, and financial matters are typically handled through some form of an online platform. In the past two years alone, due to the pandemic, the few areas of life that remained physical are primarily digital now as well. A report by Purplesec for 2021 claimed that cybercrime has increased 600% since the start of the pandemic. While insurance agencies and those prone to threats have had a keen awareness of the rising risk, the government is also stepping up and claiming some responsibility in providing protection to the general public.

Is Cyber Insurance Worth The Investment?

Is Cyber Insurance Worth the Investment?

Cyber-attacks have become a top threat to businesses both big and small in the last decade. Social engineering schemes, malware, and ransomware have all seen a significant uptick, especially since the start of the pandemic. According to the Identity Theft Resource Center, 2021 has already hit a record high for cyberattacks, exceeding the total amount in 2020 by more than 17%. So, with cyber threats (and the cost to mitigate them) skyrocketing, its time to consider investing in Cyber Insurance to protect your business.