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Your center for insurance and risk management tips, news and trends.

Best Practices for High Net Worth Data Security

Posted by Parker Beauchamp on Mar 31, 2015

On December 27, 2014, the account records of 350,000 of Morgan Stanley’s wealth management clients were stolen. The data of its 900 wealthiest clients were posted to online bulletin board Pastebin, along with an offer to release more records in exchange for payment. 

The data breach still leaves many unanswered questions, and has heightened concerns in the financial services industry. Whether the work of a rogue employee or a sophisticated computer hacker, high net worth individuals were clearly the target. 

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Topics: Risk Management, Wealth Management

How INGUARD’s CEO Helped Save Iconic Wabash Theater

Posted by INGUARD Team on Mar 30, 2015

Throughout the U.S., the number of operational drive-in movie theaters has slowly decreased over the years. In fact, as of August 2014, less than 400 theater locations remain.

In an era of high-definition, surround sound and stadium seating, it may not come as a surprise that drive-ins have lost their place in American entertainment. With the continuous advancements in technology and customer experience, patrons often prefer state-of-the-art theaters, or the convenience of streaming an on-demand movie from their homes.

However, there is still a place for these nostalgic venues in the heart of a community that cherishes family traditions and fond memories.

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Topics: INGUARD News, Community Investment

Cyber Security for Professional Service Agencies: How to Safeguard Your Clients’ Intellectual Property and Trade Secrets

Posted by Parker Beauchamp on Mar 26, 2015

This is the final installment in a three-part series on agency cyber security and risk management. Check out our earlier articles on exposures associated with managing client social accounts, and customer databases and personally identifiable information.

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Topics: Business Insurance, Risk Management

Cyber Security for Professional Service Agencies: 5 Ways to Protect Clients’ Personally Identifiable Information

Posted by Parker Beauchamp on Mar 25, 2015

This is the second installment in a three-part series on agency cyber security and risk management. Check out our first post on how to protect clients’ social media accounts and online reputation.

2014 was appointed as the year of the hack. Each attack, from the Sony cyber breach to the long string of celebrity iPhone breaches, was cringe-worthy, and as we move through 2015 businesses are worried about what the future of cyber attacks will hold.

After the scare of last year’s high profile hacks, the U.S. government is developing a new agency titled the Cyber Threat Intelligence Integration Center (CTIIC) to monitor cyber security threats. Finally. 

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Topics: Business Insurance

Cyber Security for PR and Marketing Agencies: How to Protect Your Clients’ Social Media Accounts

Posted by Parker Beauchamp on Mar 23, 2015

This is the first installment in a three-part series on agency cyber security and risk management. Stay tuned for future articles on exposures associated with the management of client customer databases and protection of intellectual property.

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Topics: Business Insurance

Are Taylor Swift’s Legs Worth $40 Million? When Not to Insure Celebrity Body Parts

Posted by Parker Beauchamp on Mar 18, 2015

Flickr-legs-479289-edited.jpgIf you keep up with entertainment news or celebrity gossip, then you’ve probably heard the unconfirmed rumor that 25-year-old pop icon, businesswoman and cat lover Taylor Swift has insured her legs for a reported $40 million.

That’s right, $40 million to insure not her voice, but her legs. (Some simple math for you—that’s $20 million per lengthy appendage.)

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Topics: Business Insurance, Risk Management, Wealth Management

U.S. Crop Insurance Options: An Overview of Crop-Hail versus Multi Peril

Posted by Parker Beauchamp on Mar 12, 2015

Farming and agribusiness are at the root of our country’s economy—an essential component of domestic food production and U.S. exports. However, due to the volatility of production yields and other external factors, the nature of the agriculture industry puts business owners at a high risk for loss.

From shifting demand and changes in government subsidies, to severe weather patterns and climate change, unpredictability is part of a farmer’s day to day. Knowing these variances and how to protect yourself from loss is essential to owning and operating a profitable agribusiness.

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Topics: Business Insurance

Is Captive Insurance Right for My Business? [Interactive Checklist]

Posted by Parker Beauchamp on Mar 09, 2015

ING_Captives-ChecklistThough its name may sound restrictive, captive insurance is just the opposite.

As an insurance method traditionally limited to large-scale companies, many mid-size businesses or organization leaders may be unaware of their options, foreseeable benefits and eligibility.

While the concept of a captive program may seem complicated or daunting, this doesn’t have to be the case. With a trusted insurance partner, you can easily navigate the captive selection, setup and maintenance process, and begin to receive the financial and coverage benefits so many others have enjoyed.

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Topics: Business Insurance

Commercial Drones: The Future of Retail and Entertainment

Posted by Parker Beauchamp on Mar 05, 2015

This is the second post in a two-part series on commercial drones. For more information, see our previous post, "Tech and Innovation: How Drones Can Improve the Claims Process in Disaster Recovery." 

The drone, a device once used exclusively by military forces, has been transformed for multi-purpose use. Also known as an unmanned aircraft system (UAS), drones are predicted to be the future of efficiency in a variety of consumer industries including retail, first aid, sports, and even insurance.

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Topics: Business Insurance, Insurance News & Trends

Tech and Innovation: How Drones Can Improve the Insurance Claims Process in Disaster Recovery

Posted by Parker Beauchamp on Mar 04, 2015

This is the first post in a two-part series on commercial drones. Stay tuned for our next post, "Commercial Drones: The Future of Retail and Entertainment."

Drones were originally developed by the military to safely conduct surveillance and reconnaissance missions without risk to human life. Since then, the use of drones has evolved greatly, expanding into many personal and commercial applications.

For businesses, drones offer a new way to capture images and footage like never before. But before a business can deploy a drone, it must first acquire special certificates and authorization from the Federal Aviation Administration (FAA), the authority over all U.S. air space and regulator over the domestic use of drones.

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Topics: Insurance News & Trends