Delaware Business Insurance Update from CNC Insurance Associates Inc. " Year Ends With A Byte" 12-24-14

As we close out another business year, the big story for 2014 has to be cyber risk. Every business owner will need to consider cyber attacks and find ways to protect against them. Cyber risk has now become part of the risk management and insurance conversation. In the eyes of business owners it should be protected against like fire, wind and other perils. How the insurance industry responded to breaches is also a big story, as many claims were excluded under the liability policy, but enhanced coverage under special cyber risk insurance policies saved the day ( if they were bought) . I will be writing more about cyber in 2015, as this risk continues to evolve. Business owners and their risk professionals will have to continually look at the exposure and find ways to treat it so it doesn't come home to "byte" . Until next time be careful out there and know your risk.

G. Kevin Nemith Pres. CNC Insurance Associates Inc. and The Small Business. Insurance Center
Serving DE, MD, PA, NJ, & VA.
www.cncinsurance.com
www.bizinsurancetv.org

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