Compromised Data Are You Covered?

If you own or operate a business then you handle personally identifying information such as Social Security numbers, driver’s license numbers and credit cards. As a business it is your responsibility to protect that information and keep it from getting into the wrong hands.

However, sometimes despite your best efforts, a data compromise occurs. What can you do to help protect your business and your customers when this happens? Data Compromise insurance coverage is available to help you respond to this type of incident.

A data compromise can occur in several different ways. These include:

· Theft of your computer system or computerized cash register from your business.

· Theft of physical files containing customer or employee records

· Hacking, pharming or phishing of your computer system

· Mistaken publishing of personal information on mailing labels or on your web site

· Improper disposal of customer or employee records

Data compromise coverage can provide peace of mind in the event a data compromise occurs. This coverage provides legal and forensic technology review; this will help determine the extent of the data breach and the response required for the breach. It also helps you notify your employees and customers affected by the breach. Credit monitoring services are also provided for twelve months following a data compromise.

Each of these services would be very costly if paid out of pocket, not to mention the cost for the damage to your business reputation for not responding to a data compromise.

Penny Insurance Agency can help you determine the level of risk your business faces in relation to data compromise. We have been serving the Carolinas since 1931, helping businesses and families design cost effective insurance programs that keep them protected without breaking the bank.

North Carolina Employment Practices Liability

Restaurants are complex businesses and their insurance issues are complex as well. In my experience an area that gives me great concern for restaurant owners is the issue of Employment Practices Liability. The good news is that you can buy insurance to protect your business although it can be expensive.

What is Employment Practices Liability insurance (EPLI)? EPLI is designed to provide protection for business owners against claims from employees regarding wrongful employment acts. These acts include any actual or alleged wrongful termination, harassment (including sexual harassment and hostile work environments), discrimination, retaliation, wrongful failure to employ or promote, wrongful discipline, failure to provide or enforce adequate or consistent policies or procedures, negligent supervision, or any employment-related misrepresentation, libel, slander, defamation, humiliation, mental anguish, invasion of privacy, or intentional infliction of emotional stress.

In other words; anything you could possibly do or not do and for which an employee can sue you. With that in mind, why would a business owner NOT have Employment Practices Liability insurance?

EPLI can also help protect your restaurant against conflicts that flare up between employees and third parties, such as vendors or customers, if a third-party coverage endorsement is secured as part of the EPLI policy.

Obviously the restaurant owner must weigh risks and costs very carefully. General Liability policies do not normally cover employment-related risks. If such risks are high, buying EPLI may be a wise decision. The life savings of the small business owner are often tied up in the business and need to be protected.

Penny Insurance Agency has been helping North Carolina restaurants and small businesses design cost effective insurance programs since 1931.