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Best In-Class Business Insurance for Technology Firms & IT Consultants
As a business owner, it is crucial to understand risk management strategies and how they can protect your enterprise. One effective approach to mitigating risks is through risk transfer. Insurance is one method of risk transfer. Businesses are always looking to understand what risk transfer means, its purpose, the most common methods used, and how you can implement it to safeguard your business.
Risk transfer refers to the strategic process of shifting the financial burden of potential losses from one party to another. In simple terms, it involves transferring the responsibility of certain risks to another entity, such as an insurance company or a contractual partner. This transfer can occur through various means, providing businesses with a mechanism to alleviate the potential financial impact associated with uncertain events.
The primary purpose of risk transfer is to protect your business from potential financial losses resulting from unforeseen events. By transferring the risk, you essentially transfer the potential burden of liability to another party. This enables you to focus on your core business activities without being overly exposed to risks that could disrupt your operations or deplete your financial resources.
One of the most widely used methods of risk transfer is insurance. Business insurance policies allow you to transfer the financial responsibility of certain risks to the insurance company. These policies can cover a range of risks, including property damage, liability claims, employee injuries, and business interruption. By paying premiums, you ensure that the insurance company will bear the financial burden if any covered events occur.
The first step in transferring risk is to identify the potential risks your business may face. Conduct a thorough risk assessment to determine the areas where your business is vulnerable. Complete our risk assessment survey here to see what risks your business may have. Examples of risks may include natural disasters, lawsuits, cyber-attacks, or economic downturns.
Once you have identified the risks, select the appropriate insurance policies that cover those specific risks. Consult with an experienced insurance agent or broker who can help tailor the coverage to your business’s unique needs. Common types of insurance include general liability insurance, property insurance, professional liability insurance, and workers’ compensation insurance.
It is crucial to carefully read and understand the terms and conditions of the insurance policies you are considering. Insurance is an effective method of risk transfer, but not all risks are covered by insurance. Pay attention to coverage limits, deductibles, exclusions, and any other relevant provisions. This will ensure that you have a clear understanding of what risks are covered and the extent of protection provided.
In certain business relationships, such as contracts with vendors or subcontractors, you can transfer some of the risks associated with the project or service. By including indemnification clauses, hold-harmless agreements, or insurance requirements in contracts, you can transfer the responsibility for specific risks to the other party.
Regularly assess the effectiveness of your risk transfer methods. As your business evolves, your risk profile may change, necessitating adjustments to your insurance coverage or contractual agreements. Stay informed about new risks that may emerge and adapt your risk transfer strategies accordingly.
Risk transfer is a vital aspect of managing chaos and protecting your business from potential financial losses. By understanding the concept, purpose, and common methods of risk transfer, you can make informed decisions to safeguard your business. Whether it’s through insurance or contractual agreements, risk transfer provides an effective way to mitigate the impact of unforeseen events. By implementing these strategies, you can focus on growing your business with peace of mind, knowing that you have taken proactive steps to minimize risks.
Remember, running a business involves taking risks, but managing and transferring those risks can help protect you, your employees, and your business.
InsureYourCompany provides comprehensive Technology Business Insurance solutions to help protect your company from potential risks and liabilities. Our policies are tailored to meet the unique needs of your technology-based business. Request a free quote today and ensure the future success of your company.
This article is for general information purposes only. The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation. We shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
As an independent tech consultant, you engage in short-term and results-oriented work. This type of work is usually accompanied by a consulting contract, which is a vital document that outlines the terms and conditions of your engagement with clients. Understanding the concept of a fully executed contract is crucial to protect your rights and ensure a smooth working relationship. In this blog post, we will explore the ins and outs of fully executed contracts and provide valuable insights for independent tech consultants.
Firstly, let’s clarify what an executed contract means. In simple terms, it is a contract that has been signed by all parties involved, indicating their agreement to the terms and conditions outlined in the document. It is a demonstration of mutual consent and signifies the beginning of a legal relationship.
To better understand the concept of a fully executed contract, let’s consider an example. Imagine you are an independent tech consultant hired to develop a mobile application for a client. After negotiations, both parties reach an agreement on the scope of work, timelines, and payment terms. Once all the terms and conditions have been agreed upon, the contract is drafted and signed by both you and the client. At this point, the contract is considered fully executed.
Now, let’s delve into the key considerations for independent tech consultants when dealing with fully executed contracts. One crucial aspect to be aware of is the typical insurance requirements for independent consultants. As a 1099 worker, you are responsible for securing your own insurance coverage. While specific requirements may vary depending on the industry and client, there are common types of insurance coverage that independent tech consultants should consider.
1. Professional Liability Insurance: This type of insurance, also known as errors and omissions insurance, protects you in case a client alleges financial loss due to your professional services or advice.
2. General Liability Insurance: This insurance provides coverage for claims of bodily injury or property damage that may occur during the course of your work.
3. Cyber Liability Insurance: In today’s digital landscape, protecting sensitive client data is of utmost importance. Cyber liability insurance safeguards you against liabilities arising from data breaches, hacking, or other cyber threats.
4. Workers’ Compensation Insurance: If you have employees, you may be required to have workers’ compensation insurance to cover injuries or illnesses that may occur while on the job. Some contracts even require you to carry workers compensation coverage if you’re a single-member LLC.
5. Third Party Crime Bond: Many contracts require consultants to purchase a third-party crime bond. This protects you if an employee or contractor steals from a client site.
When entering into a consulting contract, it is essential to thoroughly review its terms and conditions. Here are some crucial points to consider:
1. Read the Details: Carefully review the contract, ensuring that all the agreed-upon terms, including scope of work, timelines, deadlines, payment information, and any specific project requirements, are accurately reflected.
2. Hire a Lawyer: Consulting contracts can be complex, and it is advisable to seek legal counsel to ensure your rights and interests are adequately protected. A lawyer can assist you in understanding the legal implications and offer valuable advice.
4. Have It in Writing: Verbal agreements may be binding in certain situations, but it is always best to have everything in writing. A written contract provides clarity, avoids misunderstandings, and serves as evidence in case of disputes.
5. Keep an Original Copy: Make sure to keep a copy of the fully executed contract for your records. This will serve as proof of the agreed-upon terms and protect your rights in case of any future conflicts or misunderstandings.
In addition to the basics of a consulting contract, it’s important to address other crucial elements that can affect your interests:
1. Non-Disclosure Agreements (NDAs): NDAs typically prohibit disclosure of confidential information. Make sure you’re away of your obligations if signing one, and consider using them to protect your interests.2. Non-solicitation Clause: Many contracts contain a non-solicitation clause to prevent one or both parties from hiring away employees or soliciting clients.
3. Cancellation and Termination: Clearly define the terms and conditions for canceling or terminating the contract, including any applicable notice periods and potential consequences.
4. Dispute Resolution: Anticipate potential disputes and establish a mechanism for resolving them. Dispute resolution clauses can lay out how disputes are to be resolved, such as requiring the parties to go to mediation or arbitration instead of court.
The most important thing you can do is consult an attorney. Contracts can be lengthy and difficult to comprehend. An attorney can help you understand your obligations and protect your interests.
By understanding the significance of fully executed contracts and paying attention to the key elements mentioned above, independent tech consultants can protect their rights, set clear expectations, and help ensure a smooth working relationship with their clients. It is crucial to approach contracts with due diligence, seek professional advice when necessary, and secure the necessary insurance coverage to safeguard your business interests.
This is not legal advice. This article is for general information purposes only. For legal advice, please contact lawyer in your state. For specific insurance questions, contact a licensed insurance agent.
InsureYourCompany provides comprehensive Technology Business Insurance solutions to protect your company from potential risks and liabilities. Our policies are tailored to meet the unique needs of your technology-based business. Request a free quote today and ensure the future success of your company.
If you’ve ever been asked to provide a certificate of liability insurance (C.O.I), you may have found yourself wondering what it is and why it’s important. Don’t worry, you’re not alone! So, please join as we explore the world of C.O.I’s, unraveling their significance and shedding light on how to obtain one when needed.
To put it simply, a certificate of insurance is a document that serves as proof of insurance coverage. Various business contracts, such as leases or work agreements, often require it to ensure that all parties involved are protected.. While it doesn’t guarantee the validity or extent of your insurance, it provides crucial information about your policy to interested parties.
Fortunately, the process is typically straightforward. Begin by reaching out to your insurance agent or carrier. They are well-versed in providing certificates of insurance and will guide you through the necessary steps. If you’re unsure about your insurance carrier, you can check your policy documents, invoices, or even past certificates of insurance to find the information you need.
At Insure Your Company, we’ve streamlined the certificate of insurance request process for our clients. We’ve established a dedicated email address and a convenient certificate portal. Making it quick and easy to request and receive certificates of insurance. We understand that time is of the essence, and we strive to deliver efficiency and peace of mind to our valued customers.
A certificate of insurance or COI is your key to doing business. This piece of paper gives you the power to win contracts, complete transactions and get paid.
By definition, a certificate of insurance verifies the existence of an insurance policy and summarizes the key aspects and conditions of the policy. That is the book definition in the industry but doesn’t really convey all that your certificate of insurance can do.
Like the definition states, it verifies the insurance your company has in place. The COI lists important information about your business, the insurance carriers and the coverages it represents. Like your auto ID card, it represents the active policies you have purchased and that currently protect your business. The type of information you will find on your certificate of insurance can consist of your business name and address or the policyholder information. It will have the contact info, name and NAIC number of the insurance carriers you purchased the insurance from. It will state the effective period, coverage type and limits of insurance that cover your business.
This is incredibly important for any company trying to do business. Certificates are usually requested by opposite parties in an agreement, contract, or transaction. This confirms to them or fulfills a contract requirement to make sure that your business has the proper insurance in place. An employer, vendor or contractor may require specific types of insurance to work for them. Your COI will show them what your current coverage portfolio consists of.
The main thing your certificate of insurance is going to do for you is get you paid. You can’t receive your compensation or even start a project without sending your COI to the party requesting it. Having your certificate available at a moment’s notice can mean the difference to win a job or losing one, getting paid or not. If you are in an industry that requires you to bid on available work then you are familiar with the certificate of insurance and how important it is to obtaining work.
Your certificate of insurance is sometimes the only document you have pertaining to your insurance details and coverages. Use your certificate to get info on your policy quickly. It tells you the insurance carrier of the policy in case you need to look them up and contact them. The COI provides a summary of your insurance policies and what they cover. This gives you one convenient place to see your insurance policy information when you need it.
The certificate of insurance is a convent, powerful and depending on your broker very easy to obtain. Though it provides the policy information it does not confirm that the information on the certificate is correct or active. So if you are on the receiving end of a contract requiring insurance coverage you may still need to contact the insurance carrier to provide proof that a business has insurance.
The insurance policy adds a party, typically through endorsement, to extend coverage beyond the original policyholder, which is known as an additional insured. When the insurance policy names an entity or individual as an additional insured, they receive protection for specified liabilities or claims that arise from the actions or operations of the policyholder.
The additional insured status is often requested in various contractual relationships to provide an extra layer of protection for the party requiring it. Common examples include landlords, contractors, subcontractors, vendors, and other entities. These parties may have a financial or legal interest in the activities of the policyholder. By being added as an additional insured, they can potentially access insurance coverage if they are held liable for damages or claims resulting from the actions of the policyholder.
When you receive a certificate of liability insurance, you’ll notice that it includes a certificate holder or additional insured. The certificate holder is the person or business that holds the certificate and serves as a means of tracking and accountability. While a certificate holder receives a certificate of insurance, it is important to note that being a certificate holder does not grant them any rights or coverage under the insurance policy itself. The issuer does not consider the certificate holder as an insured party and does not provide the same level of protection as an additional insured..
If you receive a certificate of liability insurance from a third party you’ve hired, you become the certificate holder. It’s essential for tracking purposes and clarifying responsibilities in the event of a claim. The certificate holder may be an entity with a business relationship to the policyholder or may have a vested interest in ensuring the policyholder has adequate coverage.
It’s important to note that not all insurance policies are created equal. Some policies may require an additional premium when adding an additional insured to the certificate. This means there may be associated costs if someone requests to be named as an additional insured or certificate holder on your policy. To navigate these complexities, it’s crucial to consult with your insurance agent, who can provide you with the necessary guidance.
In summary, a certificate of insurance is a vital document that acts as proof of insurance coverage. It ensures that you meet the insurance requirements specified in your contracts. By promptly providing a certificate of insurance when requested, you demonstrate your commitment to fulfilling contractual obligations and building trust with your business partners.
The next time you’re asked for a certificate of liability insurance, don’t fret! Reach out to your insurance agent or carrier, and they’ll guide you through the process. Remember, having a certificate of insurance not only satisfies contractual requirements but also provides you with peace of mind, knowing that you have the necessary coverage in place. Stay insured, stay protected, and enjoy the benefits of a certificate of insurance!
In the business realm, understanding the precise definition and significance of words and terms is crucial, especially when interacting with employees and clients. However, the challenge arises when, depending on the industry, similar terms, words, and phrases can take on diverse meanings. So, what exactly does being “Licensed, Bonded, and Insured” signify, particularly when discussing general liability insurance and contractor licenses with an insurance company?
You might have come across this phrase when exploring how to get licensed, or perhaps you’ve seen a variation of it emblazoned on work trucks, in advertisements, or within contracts. But have you ever paused to ponder its true meaning or questioned its relevance? Fortunately, our insurance professionals have nothing but insurance on their minds. They’ve sought answers to this very question and are eager to impart their insights.
The existence of the phrase “insured, licensed, and bonded” is deeply rooted in regulations. These regulations encompass industry standards, governmental directives, and public safety measures.Some sectors necessitate stringent regulation due to their profound impact on society or the environment. The consequences could be catastrophic if things were to go awry, especially when it comes to compensation insurance or the wrong type of bond. To mitigate such risks, our society has devised various types of regulations tailored to distinct industries. The aim is to ensure a foundational level of knowledge and experience, which in turn, ideally fosters a consistent standard of safety and professionalism.
One form of regulation is licensing. Requiring a license is very common If you work for the government or are under government contact. Each state has defined different minimum requirements that you must meet, forms to submit, and fees to pay to obtain a license. Individuals or businesses often require licensing to conduct operations in a specific state.
There are also hundreds of different professions that require a license to legally perform their duties. Every industry has different standards but the point is to protect the public from someone who has no experience or training and ensure that people put the time and energy to understand their industry and perform their tasks safely.
Licenses usually come with continuing education requirements. This requires the licensee to fulfill educational or other types of credits necessary to maintain the license. This is another attempt to help keep the public and workers as safe as possible.
The next common regulation is the need for a surety bond. This is the Bonded part of the term. The requirement is that the business must have something called a surety bond. A surety bond is a promise to be liable for the debt, default, or failure of another. It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee).
In short, the person doing the work pays a fee to a Surety Company and the Surety Company issues a piece of paper promising the customer that if the worker fails to do the job, the surety company will pay to make it right. When it comes to getting bonded, different levels of surety bonds will cost different amounts of money. To get a closer estimate of costs, you will need a quote from the bonding agency or an insurance agent such as the ones here at Insure Your Company.com to determine what your payments will be.
Next up, insured. When a person or entity says they are insured. They are representing that they have purchased an insurance policy that covers their work. Purchasing an insurance policy is different for every business. It depends primarily on the type of work you perform and where you are located while working. Insurance policies are very specific about what is covered and excluded. Be sure to read and review all the details of your policy.
Insurance aims to put the parties back in the position they were in before the loss happened. It’s like fixing a crack in the driveway, but not repaving the entire thing. You are no better than you were before but you are no worse. When an event happens that is included in your insurance policy the coverage will provide a dollar amount to fix, replace or cover fees.
A business owner and their employees are at risk every day from the unexpected, the unknown, and the unforeseen. Insurance is a tool to fix these issues and get businesses and individuals back to the place they were before the event happened. Insurance protects people and businesses and allows our society to grow and move forward.
By requiring a professional to have insurance, a license or a bond, governments and industries are trying to regulate the risk to business and the public in case something goes wrong. Some common industries that will require one or all of these items are construction contractors, motor vehicle dealers, freight or transportation, and the mortgage, finance, insurance, and tax industries.
It’s with good reason that these industries are highly regulated. Shortcuts, shady sales practices or incompetence can lead to a pretty huge mess. People could be injured, structures destroyed or personal financial life can be ruined.
So, the next time you see the term Insured, Licensed and Bonded you will understand that it is primarily to keep you, workers, and the public safe. And it’s always a good idea when working with professionals to get a copy of their documents or proof of their insurance, licenses or bonds.
Hired and Non-Owned Auto Insurance is coverage that business owners can purchase to protect themselves financially from damages caused by vehicles that they do not own, but which are used for business purposes.
This coverage provides liability protection for property damage or bodily injury to third parties involved in an auto accident with someone from your company driving a hired or non-owned auto.
HNOA can be purchased as a stand-alone policy or added as an endorsement to a commercial general liability policy.
Consider this scenario:
You ask your administrative assistant to pick up lunch at a local restaurant for an important business meeting. On the way back from the restaurant, they lose control of their vehicle, hitting a pedestrian and a parked car. Their auto insurance has lapsed.
Could your business be liable?
The simple answer is yes.
This is why it’s important to understand the different types of auto insurance coverages that are available and how they apply to your business.
Businesses use vehicles in many ways, whether it be driving a company-owned delivery van, renting a vehicle while on a business trip, or employees using their own car in the course and scope of their job.
It’s important to note Hired and Non-Owned Auto Coverage does not provide coverage for accidents that occur while an employee is commuting to or from work or while running personal errands. In most cases, it only provides liability coverage, meaning the insurance does not provide protection for any damage to the hired or non-owned vehicle involved in the accident.
In insurance policies, these different usage scenarios are specifically defined and affect coverage.
As used by insurers:
Owned autos – owned vehicles are vehicles that are owned by your business and are the most straightforward to cover.
Hired autos – hired autos are vehicles that are rented, borrowed, or hired. For example, if you are on a business trip and you rent a vehicle, this would be considered a hired auto.
Non-owned autos – non-owned autos are vehicles that are used in the business by an employee that do not belong to the business. For example, if an employee uses their own vehicle to run errands, their car is considered a non-owned auto.
Your business may benefit from reviewing your current coverage if you use hired or non-owned vehicles.
It’s also important to keep in mind that with Hired and Non-Owned Auto Coverage insurance policy, other coverage would apply first.
For example, if an employee were driving their vehicle to the post office, coverage under their personal auto policy would apply first. If the employee doesn’t have coverage or the policy limits are not sufficient for the claim, the HNOA policy would then apply.
Many contracts tech consultants enter into often require proof of adequate auto insurance, including coverage for hired and non-owned autos.
As you think about your business, consider if your business has hired or non-owned auto exposures. Do your employees ever use their own cars to do their job? Does anyone in the company rent vehicles while on business trips? Do you ever find you need to rent a vehicle to make a delivery to a customer?
There are many considerations when it comes to insuring your consulting business. Many of our clients are often surprised by how affordably they can get the coverage they need so their personal assets are not put at risk. Contact us today so we can help you determine if the coverages you currently have provide the protection you need.
This article is for general information purposes only. It is not insurance, tax, legal, business, or other advice. For specific insurance questions related to you or your business, please review your policy and contact our office.
The answer to this question is a straightforward one, and it’s one that could have significant consequences for the future of your business. In the world of entrepreneurship, unexpected events can happen, and they can happen fast. One misstep could mean the difference between success and failure. That is why it’s essential to consider insurance to protect your investment.
So, do you really need business insurance for your LLC? The answer is yes.
Let’s dive deeper into this critical topic and explore what types of coverage you should consider.
In a Limited Liability Company, the business itself is typically the entity that obtains insurance coverage and provides coverage for the owners, employees, any business property or other assets used to run the business. This type of business structure combines the liability protection of a corporation with the tax benefits and flexibility of a partnership. The Legal entity of the LLC is separate from its owners generally protecting personal assets. Even though you created an LLC and purchased commercial insurance it may be necessary for owners or employees to purchase their own individual insurance policies for extra personal asset protection.
Each insurance policy will have coverage for an array of risks and liabilities based on the industry your business falls under. It is important when you talk to an insurance agent to give a detailed description of your operations so you can properly protect every aspect of your business. Insurance covers evets that arise out of the operation of your business that result in a liability exposure, bodily injury or property damage. Each industry will have different risks and even laws or regulations that dictate what insurance will cover.
Insurance provides a dollar amount of coverage for different types of events. You will see this referenced in your insurance policy as limits of liability. Commercial Insurance Products are broken down into different polices that protect the various events a Limited Liability Company can experience.
Below is a list of policies every LLC should have and how they protect your business.
Commercial general liability provides coverage for slips, trips or falls and other liabilities while people are on your property or while doing business together. Property damage can also be added to this policy. Adding protection for property that you own and use for business. This is a must have policy if you are an LLC, it provides basic levels of coverage that you can modify depending on the needs of your specific vertical.
This policy protects against injury or illness of an employee related to your business. It provides medical benefits and income protection and can protect an employer from lawsuit. (This coverage is often required and regulated by the state, please confirm with your states labor department) If you have or hire employees in your LLC you need Workers Compensation. It is best to confirm with an insurance agent, such as the ones here at Insure Your Company. They can easily tell you what coverage is mandatory and how insurance will protect your LLC.
Professional liability insurance (or Errors & Omissions insurance) protects your limited liability company if it is sued for negligence or other errors related to the services you provide. Designed to cover the cost of legal defense, settlements and judgments that may arise from such claims. This coverage is essential if you provide a professional type of service.
Cyber-attacks are an ever-present threat to businesses of all sizes and their effects can be devastating. Cyber liability insurance provides coverage options to help protect your company from data breaches and other cyber security issues. Lost data, lost devices, lost money, notification requirements, and forensics are all potential liabilities facing your business. Cyber insurance can help.
Third Party and First Party Fidelity Crime Bonds protects your business when a criminal act is committed by a third party or first party depending on the type of policy. Crimes like embezzlement, Fraud, forgery and theft of money or property can be covered.
Commercial property insurance protects your LLC’s physical assets such as your building, equipment, inventory or other property that is essential to your business from covered events like fire, theft or natural disaster. The insurance coverage will help repair or replace your property after a covered event.
This insurance is designed to protect business including LLCs, from accidents involving vehicles used for business purposes. Commercial auto coverage includes Liability, physical damage, medical payments, underinsured/uninsured motorist. To obtain a commercial auto policy the vehicle must be registered to the LLC.
Also known as business interruption insurance, it provides financial coverage for lost income and expenses when your business is temporarily unable to operate due to a covered event. Events like fire, natural disaster and other unforeseen acts can leave your LLC shut down for an unknown period of time. Coverage can also help provide rent, utilities, employee salaries and other additional cost with getting your business back up and running.
Having business insurance is crucial for safeguarding you company against life’s uncertainties. While it is not a legal requirement for operating an LLC, not having insurance can leave you vulnerable to the unexpected mishaps. When crisis strikes, it often hits hard and fast, and an LLC is not immune to this. Whether it’s a natural disaster or a lawsuit against your business, you must prepare for the worse-case scenario.
While it is easy to create and maintain an LLC you can still be liable for damages resulting from a lawsuit or personal injury. This is why business insurance is as the best solution to protect your LLC, Your personal Assets, and your success. By investing in insurance, you can have peace of mind knowing your business is secure and you don’t have to bear the financial burden of unforeseen events alone.
It’s Important to note that the specific coverage and limits of all commercial business insurance will vary depending on the policy you choose, so it is important to review your policy carefully to understand exactly what it covers.
Summertime is a time for adventures, new experiences, and day trips to the waterside. Whether you’re inspired to learn a new skill or just lounge in the shade, staying satisfied with your work-life balance in the summer can be a challenge. When your inner self is longing for barbecues and adventure but your weekly workload stays the same, how can you ensure that you’re having a good time?
With a little forward planning, you can make sure you get enough play – and enough work – to make this summer a satisfying success.
First, take control of your schedule. You are the master of your own time, both on and off the clock. Jump out of that wintertime rut and realize that how you spend your time is up to you. Some job schedules are more flexible than others, and you may be able to arrange for time outdoors when you most want to enjoy the summer. But even if your work schedule is set in stone, you can still control how you get ready in the morning when you sleep, and the plans you make outside of work time.
Don’t let your weekends slip by in a haze. Summer weekends are a valuable resource, whether you’re longing to get out of the house or get some extra summer sleep. Make plans a week or more ahead of time for each of your summer weekends. You can book yourself a weekend class to try something new and meet new people or you can order supplies to the house for some fun summer handicrafts. Plan a camping trip, plan a day trip to the beach, lake, or pool, and make sure you enjoy every weekend you get this summer.
Longing for the outdoors when there’s work to do? You may be able to combine the two. Look for (or create!) a shady outdoor workspace. If necessary, run an extension cable to a power strip to charge your laptop and phone while you lounge under a tree or a shady awning. If you work at home, set up an “office” on the back patio. If you commute, check around for a shady balcony or a tree-shaded corner of the landscaping where you and a foldable deck chair can catch a few hours of relaxing work in the summer air.
What are your employee perks? Aside from health insurance and retirement contributions, there might be some gems in there that you haven’t been using. Does your workplace sponsor gym memberships or a recipe box delivery? Are there office building amenities you’ve never explored? Are there “healthy lifestyle” rewards you can claim for summer activities you were already doing?
There might be cool programs to join, classes to take, or programs you’ve never heard of – but would be cool to try – that is included as part of your total employee perks package. Why not enjoy these free perks this summer?
If you want vacation time this summer to travel, spend time with family, or just kick back at home – book it early. Request your days weeks or months in advance and, if your plans are flexible, be flexible with co-workers to make sure everyone gets the vacation days they need for summer plans. Most employers are cool about booking some summer vacation time, as long as the whole team doesn’t try to take the same days off at once and productivity can be coordinated around vacation days.
Make a special checklist of people you want to spend time with this summer. Summer break and the holidays are the two biggest times to reconnect with family, and summer is usually the best time to stay in touch with good friends outside the family circle. Make time, maybe schedule a few weekends, for the people most important in your life. You can also look up old friends and colleagues through social media to plan fun meetups throughout the summer and reconnect with cool people.
Don’t forget the beauty of summer nights. During the summer, your day doesn’t have to end at sunset. Even on weekdays, you can enhance your enjoyment and work-life balance by embracing the nighttime. There’s something magical that happens on a summer evening when the sky darkens and the air cools to a comfortable warm night. Let yourself enjoy each evening. Take a sunset walk or share dinner with friends. Or just lounge on your deck and enjoy the sounds of summer creatures as the night settles in.
How can you enjoy every day of summer and maintain a healthy work-life balance? It’s easier than you think. With just a little planning, you can make sure you get to enjoy your summer and meet your work goals in a comfortable balance between relaxation, adventure, and well-rested productivity. Contact us today for more smart career insights and summer tips.
This article is for general information purposes only. It is not insurance, tax, legal, business, or other advice. For specific insurance questions related to you or your business, please contact our office.
Getting a decent job in the tech industry can be a hassle. You may have already experienced this, having sent countless application letters, made necessary adjustments to your resume, and attended numerous networking events, but still unsuccessful. You should consider working with a tech recruiting agency if this has happened to you. Here is all the essential information you need to know about recruiting agencies and how to find the right agency for your tech skills.
It may seem like taking a big step, especially if you are a beginner, but a recruiting agency might be the hidden ingredient missing from the menu. A tech recruiter will help you bag jobs and ease your way into the industry. If you are already working, but the position doesn’t utilize your tech skills or find it boring, a tech recruiter can also come in handy. An agency uses its connections to help you get noticed, even when you have little or no valuable contacts to help you get unstuck.
Among the advantages of working with an agency is minimizing. You have more time to prepare for an interview other than look for one. Most agencies also have existing connections with various tech companies. If you are their client, they can get you in front of hiring managers much easier. They also have a greater understanding of the tech industry and can help you get to the proper position and company that suits your tech skills. Lastly, agencies know how to make their clients stand out during interviews. Through their interactions with the hiring managers, they know what the managers are looking for and will help you prepare to match the job description.
Working with a recruiting agency also has some downfalls. For instance, the agency may have limited connections. In some cases, the agency may also lack the type of connection that can land you your dream job. You may have expertise in cybersecurity, but the agency has better links in information technology or other tech disciplines. The other issue with an agency is that they tend to serve multiple clients. This makes it hard for them to invest much time in finding you a job as you wish.
You can decide to either wait for an agency to come to you or approach them first yourself. Here are some tips when going about it.
Before settling on an agency, please find out how long they have worked in recruiting and the average success rate of the associated clients. You can gauge the likelihood of getting a positive outcome with this information. You can also look into the companies associated with the agency. Usually, companies hire recruiting agencies to find top talent for them.
Champion yourself when talking to a recruiting agency. Get clarifications, and don’t hesitate to ask questions about things you don’t understand. Understand the recruiter’s perspective and point of view. The recruiter will take you seriously and invest in finding the right tech job for you.
It is important, to be honest, and refrain from withholding information you think might jeopardize your chances of getting a job. Maybe you are unwilling to work in emergencies or past 6 pm because you want to balance work and family time. Inform the recruiter so that they can find you a job that matches your expectations.
After you find the right agency, the hard work of finding the right job is up to the agency. They will bring relevant jobs to you so that you don’t have to trawl through job sites. At Insure Your Company.com, we can assist you with tips to connect with the right recruiters. Contact us today and learn more.
You have likely heard that your business cybersecurity needs to run on least privilege, zero-trust, and make use of data access management. But what does this really mean, and how do these methods offer an essential layer of internal data protection?
Every employee is also an entity in your data system. They have data created about them and are able to access company data through platforms and file systems. They can contact customers through the company CRM or contact list, and they can make changes to projects that they have editing permissions for. Modern employment is a landscape of access management, with each employee accessing a unique tree of files, systems, and sections of your business data network.
Of course, not every employee should access every part of your business data. Your marketing team doesn’t need to – and shouldn’t – see finance department spreadsheets. your shipping team shouldn’t know anything about the customers, and HR’s employee records should be siloed from access by almost any other user or department. Managing this complex – yet practical – ruleset about employee access to specific company data is called data access management.
Access management gives access to each project, file, or folder based on individual authorization and permissions. Permission can be granted as part of group membership (ex: on the marketing team) or granted individually.
Keeping employees from seeing what they shouldn’t – and stopping bad actors in the system – is done with the least privilege and zero-trust protocols.
Businesses have always managed a variety of paperwork that needs to be isolated between roles and managers. Each employee can be entrusted with certain responsibilities and access to certain data, but not all of it. This introduces the principle of least privilege. Each employee should have access only to the data, projects, and controls that they need to perform their role. Everything else should be limited to additional requests and authorization.
This can avoid accidental data leaks, undetected data theft, and damage to files from people who should not have access. Least privilege seeks to closely define the data needs of each employee role and ensure that team members are unable to do accidental or intentional harm with further access.
In order to implement the principle of least privilege, you first need a system that uses an access management system to determine individual authorization for each file or project.
Now that you’ve assigned every team and employee-specific authorization – and removed authorization to access non-job-related files – how do you maintain this precise and high level of internal data security?
This is done with a policy of zero trust. Zero-trust is a technical approach, requiring the re-checking of authorization and seeking of red flags on a regular basis. This ensures that access is never “Grandfathered in” from a previous login. Zero-trust policies often include idle time-out log-out features to prevent a new user from approaching a logged-in terminal, as well as location detection.
Zero trust protects against both hacker-stolen logins and thief-stolen devices. The policy also protects against account infiltration. A hacker who manages to operate a dummy employee account on your system will be – by default – denied access to all but the most public files and their account activity is likely to be flagged by the zero-trust checks.
There are many advantages of implementing this triple-stack of internal data security methods. The least privilege protects against mistakes and bad actors with data inside the company network. Zero trust protects from hacked accounts and network infiltration. Access management ensures that even though your data is locked down internally, each team and employee can reach exactly what they need to operate smoothly.
For more cybersecurity insights for your business, contact us today.
Inflation is a rising price level of goods and services. In the United States, the Consumer Price Index(CPI) measures inflation. The CPI measures the average changes in prices paid by consumers for a basket of goods and services.
The CPI basket includes food, housing, transportation, and medical care. In the previous five decades, consumer prices in the United States have been steadily increasing.
The only time prices dropped was during the financial crisis of 2009, when they did so for the first time since 1955. Between 1984 and 2020, the price level in the United States more than doubled.
In recent years, particularly in 2020, there has been an increase in health insurance and housing prices. These increases have been due to inflation and the COVID-19 pandemic.
That’s because businesses had to pay more for health insurance and rent. The pandemic also caused a decrease in demand for some goods and services. This decrease in sales led to a decline in prices for some items, such as travel and entertainment.
Inflation has different effects on different sectors of the economy, but one sector that is particularly affected by inflation is the insurance industry.
During periods of high inflation, insurance companies face rising costs for claims payouts and increased operating costs. For insurers to offset these rising costs, they typically raise premiums, impacting consumers negatively.
In some cases, consumers may be forced to drop their coverage altogether due to the increased cost. In addition, inflation can also reduce the value of investments held by insurance companies, impacting the insurer’s solvency.
However, there are several ways insurers can try to protect themselves from the impact of inflation. For example, they may increase the length of time policies are in effect or raise the deductible amount a customer must pay before coverage begins. They may also reduce benefits or exclude specific perils from policies altogether.
Inflation is one of the significant uncertainties of life. No one knows exactly how much prices will rise in the future or how those price increases will affect their ability to pay for things like insurance.
Nevertheless, inflation influences insurance in a few different ways. Here are the most notable effects:
Ultimately, however, how much inflation impacts your insurance costs depends on many factors, including the type of policy you have and the insurer you’re with.
Inflation in the insurance industry is something that happens from time to time. It’s natural for companies to reassess their costs and make adjustments based on the current market conditions.
That said, there are a few reasons why inflation might be happening more now than it has in the past.
For one, the cost of healthcare continues to rise. That means insurance companies have to pay more for claims, which eventually get passed down to consumers through higher premiums.
Secondly, we’re seeing an increase in natural disasters, which are also costly for insurance companies. Thirdly, the number of people covered by health insurance has increased thanks to the Affordable Care Act. It means that more people are using insurance, leading to higher prices.
Lastly, the insurance industry is becoming more competitive, leading to price hikes.
So, while it’s difficult to say exactly how much inflation will affect your insurance premiums, it’s essential to be aware of the potential impact and take action as needed. Contact us today for more insights and learn more about how we can help you secure the right insurance for your business.
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If you are in the IT industry InsureYourCompany.com is the insurance agent you want to work with, we are technology insurance experts and have changed the way you do business. See below a list of professionals who we help today.
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