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Insurance In The Face Of COVID-19

While the world steps through the global pandemic, we know our clients are facing the same questions, concerns, and decisions that we are grappling with. The collective safety of our employees, families, clients, and your business interests weigh heavily on everyone’s mind. Disaster planning can only take you so far when experiencing anything of this magnitude.

How does insurance play into the events unfolding? Insurance policies address coverage in general terms. The specific circumstances around each loss or situation will determine whether or not coverage applies. However, in general terms, we’d like to share an overview of the potential claims issues in various lines of coverage and how those policies might respond.

Insuring Intangible Assets Like Data, Brand, and Intellectual Property


When people think of property insurance, they often immediately think of buildings – things like houses, retail stores, or warehouses.  If they continue the thought further, they may think of additional items of property like furniture or inventory.  These items have a very real physical presence, and that physical presence subjects them to potential damage or loss from known hazards like a fire or water damage.  Property insurance exists to protect individuals and companies from that loss.

President Trump Extends National Flood Insurance Program, But Concerns Remain

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In the wake of an aggressive hurricane season doing extensive damage to the southeast part of the United States, many homeowners are realizing that their basic homeowner’s policy does not cover flood damage.  Instead, flood damage insurance in the United States has to be purchased separately.  Most people who have flood insurance policies purchase their policies through the National Flood Insurance Program.  That Program faces a number of challenges moving forward that may affect the affordability of its offerings.

Businesses Lose Millions In Revenue After Backup Systems Fail

"When people consider cybersecurity, too often they think of high-level data encryption, secure sockets layers (SSL), and high powered firewalls and antivirus protection", says Charlie E. Bernier Principal Consultant and Cyber Insurance Expert at ECBM.  "Yet overlooking simple steps to protect a company’s information technology resources can prove just as costly."  Thinking through issues like adequate backup systems, employee training, and network setups can save a company millions of dollars.  A series of outages at major airlines over the past year have highlighted the specific importance of planning backup systems properly.  Delta Airlines, United Airlines, and Southwest Airlines have all suffered major information technology outages that canceled hundreds or thousands of flights cost these companies millions of dollars in revenue.

A Blizzard In The Fall: Takeaways From The 2016 DDoS Attack

Cybersecurity experts expect the number of sites subject to DDoS attacks to increase significantly in coming years with smaller and smaller sites being targeted.  This results from the proliferation of services that allow relatively unsophisticated users to conduct these attacks.

Crisis Management: Leading Your Team Through A Crisis



Every organization is due to face a crisis. Whether it is a flooded warehouse, building fire, employee theft, losing a big client, the security of your network being compromised, or the loss of a major player in your organization. How do businesses survive?

HR Insights: Cross-Training Employees


Many companies use cross-training for a variety of reasons within their organizations. Whether due to a predictably busy time for a department, if an employee is absent due to illness, if it takes longer than expected to fill a position after a staff member resigns or retires, or as part of a crisis plan. Cross training becomes even more important if hiring outside labor is not feasible; the position may require specialized knowledge, be only for a short time, or may involve handling sensitive information. Plus, it is far less expensive and labor intensive than hiring new staff members to perform the tasks. Not only is this opportunity beneficial to the organization, it gives employees a chance to learn about a different position or part of your business.

How To Reconnect After A Disaster


Do you know where the closest hurricane safe zone is to your home? Your child's school? Your office?

Helpful Resources For When Preparing For Hurricane Season


From our Resource Library, here is a checklist that includes what should be included in your home's prep kit:

Windstorm Coverage: If you believe your property policy responds to a hurricane... think again!

Original interview by Jayne Gest, Smart Business Network Inc.

The Atlantic hurricane season runs from June 1 to Nov. 30, and as a business owner in the Philadelphia area — only 50-75 miles from the coastline — you need to take the time to understand how your property coverage will respond to a hurricane or windstorm. If you don’t understand your coverage and deductibles, along with any potential exposure, the aftermath of a hurricane can be devastating to your business, says Phil Coyne, vice president at ECBM.

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