July 20, 2012 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
“Learned professions” including legal, medical, engineering, accounting and financial services firms were formerly alone in being regarded as professional services firms. According to a number of courts, though, this term has been broadened to describe a wider and more diverse group including firms providing physical or manual services. These firms can include plumbers, roofers, exterminators, […]
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Choosing the right carrier for network security and privacy liability
November 13, 2013 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
As targeted network attacks continue to rise and governmental agencies increasingly regulate the privacy and data security environment, an increasing number of organizations are transferring their risk to insurance products. In many cases, organizations find they have little choice. It has become common for written contracts to require service providers to obtain coverage for network […]
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$0 cyber liability coverage for 75% of American businesses
May 30, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments
According to a recent Towers Watson & Co. study, 75% of American businesses do not have cyber liability coverage. And yet, cyber security concerns affect companies of all sizes: 563,000,000 records have been reported leaked since Privacy Rights Clearinghouse began tracking US data breaches in 2005. The Privacy Rights Clearinghouse database contains information on breaches […]
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$300 of Premium Prevented a $95,000 Loss. Cyber Criminals
March 29, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments
This true story was recently reported by Independent Agent magazine: While transferring $95,000 between bank accounts, a bookkeeper was redirected to a fake website by cyber criminals. The funds were then transferred to another bank, and subsequently to Serbia. Nothing more is known about what happened to the funds. Because the firm had insurance coverage […]
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Have you been hacked today?
March 20, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments
What do Michelle Obama, Hillary Clinton, Donald Trump, Eric Holder, Joe Biden, Beyonce and Sarah Palin have in common? All recently had financial details lifted by a hacker and later posted online. As if to demonstrate how vulnerable we all are to acts of cyber terrorism, even FBI Director Robert Mueller’s financial information was lifted […]
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Are there Errors in your Firm’s E&O Policy?
February 13, 2013 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready? Having insufficient or incorrect Errors & Omissions (E&O) coverage can financially devastate your firm one minute from normal. Following are a few best practices regarding E&O policy “hygiene”: Every E&O policy includes […]
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Contingency Planning in the event of a financial services network cyber attack
October 11, 2012 / by KMRD Partners / One Minute From Normal Series / 0 comments
Following recent denial of service attacks on computer networks at Bank of America, JP Morgan Chase, Citigroup, U.S. Bank, Wells Fargo and PNC, House of Representatives Intelligence Committee Chairman Mike Rogers warned that emerging cyber threats to U.S. financial networks can be traced to nation states including Iran, China and Russia. According to Committee Chairman […]
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KMRD Partners Helps Protect Your Business from Cyberattack
October 4, 2012 / by KMRD Partners / One Minute From Normal Series / 0 comments
Cybersecurity was in the news again last week when six major American banks were hit in a wave of computer attacks. As a result of these denial of service attacks, customers at Bank of America, JP Morgan Chase, Citigroup, U.S. Bank, Wells Fargo and PNC were all temporarily unable to gain access to their accounts […]
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Community Alert Systems
September 12, 2012 / by KMRD Partners / One Minute From Normal Series / 0 comments
Both Montgomery and Bucks Counties in Pennsylvania established Community Alert Systems for local residents and employees. After signing up for this system, residents and employees receive alerts and notifications on their cell phones and e-mail regarding emergencies, severe weather, road closures and crime alerts. In addition, individuals who select the Health Alerts group will be […]
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Does Your Company Need E&O Liability Coverage?
July 20, 2012 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
“Learned professions” including legal, medical, engineering, accounting and financial services firms were formerly alone in being regarded as professional services firms. According to a number of courts, though, this term has been broadened to describe a wider and more diverse group including firms providing physical or manual services. These firms can include plumbers, roofers, exterminators, […]
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Errors with E&O – Part 4
June 20, 2012 / by KMRD Partners / One Minute From Normal Series / 0 comments
At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready? If human beings were perfect, there would be no need for Errors & Omissions coverage. Until we get perfection, we are fortunate it exists. Following the 2008 financial crisis, Robert Boatti joined […]
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