Straight From The Source Blog by Higginbotham Insurance

Why your business may need social engineering coverage

June 24 , 2020


Most companies are aware of their ransomware and data breach exposures and the urgent need for cyber liability insurance. However, there are other exposures that exploit human weaknesses. Worse yet, losses caused by employee mistakes may not be covered by standard policies. That’s why your business may want to consider social engineering coverage.

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Tags: Business Insurance

Out of state employees create work comp complexities

May 27 , 2020

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If your business only has a physical location in one state, you might think that’s the only state that needs to be listed on your workers’ compensation policy – but think twice. There are multiple situations in which other states might come into play, and this needs to be reported to the insurer.  

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Tags: Business Insurance

Captive insurance: a risk management tool

May 06 , 2020


Insurance rates are rising across most lines of business. This means that your company’s insurance rates may be going up – even if your claims are low. Or, you may find that there are exclusions in your commercial insurance coverage that are important to have covered. You may also see that deductibles are increasing while your premiums are also increasing. If you’re finding yourself in this situation, you may be looking for a new strategy that will help you keep your insurance costs contained and improve your overall risk management program. That strategy might be captive insurance. 

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Tags: Risk Management, Business Insurance

Understanding key differences in cyber policy forms

April 29 , 2020

cyber security

Businesses around the world are worried about cyber risks. According to Business Insurance, a 2019 survey from the World Economic Forum found that cyber threats are the number one risk that American and Canadian business leaders worry about. Given this concern, it’s no surprise that interest in cyber liability insurance is increasing. Obtaining cyber insurance is a smart move – but not all policies are the same.

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Tags: Business Insurance

The shrinking capacity for umbrella coverage

April 15 , 2020


Umbrella coverage offers attractive protection for those who worry that their limits might not be high enough or that insurance gaps might be leaving them exposed. Unfortunately, current insurance market conditions may be making umbrella coverage more difficult to obtain. Here’s why you should prepare for umbrella coverage’s shrinking capacity. 

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Tags: Home & Auto, Business Insurance

The commercial property insurance market has hardened

February 19 , 2020

insurance policy

Business Insurance reports that commercial property and casualty insurance rates are rising. In the fourth quarter of 2019, MarketScout Corp. also showed increased rates for commercial property, professional liability and D&O liability. While their reports represent national averages, some areas of the country are seeing much steeper property increases.

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Tags: Business Insurance

Protect yourself against illegal acts with crime coverage

December 23 , 2019


You may feel that your employees would never steal from you or that your business would never be the victim of theft, but the harsh reality is that nearly every business is eventually victimized by fraud or theft. In this day and age, thieves (and potentially your employees) do not need direct access to cash to steal from you — merchandise, supplies and securities are all fair game.

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Tags: Business Insurance

Crowd control during retail sales events

November 20 , 2019

GettyImages-crowd control v2

Crowd-related injuries during special retail sales and promotional events have increased during recent years, both as certain products have become more popular and as people have tightened their budgets. Unfortunately, stories about crowd-related injuries and fatalities make the news every year.

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Tags: Business Insurance

Ride sharing: who's liable for accidents?

October 23 , 2019

HTempGettyImages-Ride-Share Driver

Uber, Lyft and other ride-sharing services can make it easy to get a quick car ride or make some extra income, and they’re only becoming more popular. In fact, in the cities where these platforms are available, taxi ridership has declined anywhere from 10 to 30 percent. However, the convenience of ride-sharing isn’t without risks. Most ride-sharing businesses are in the early stages of development, and the popularity, risk management and compliance issues they’re facing are all in uncharted territory.

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Tags: Business Insurance

Global risk: Do I need specific coverage for my overseas business?

September 12 , 2019


Business is becoming increasingly global. This can lead to new opportunities, but it can also complicate risk management. If you operate an overseas business, you need to make sure it’s protected with the right insurance.

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Tags: Business Insurance


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