Insurance News

The Cost of Food Recalls: 2022

June 20, 2022 |

Food recalls are a risk for food companies. Not only do damaged goods pose a health risk to the public, but the cost of food recalls can be astronomical. Businesses that are unprepared to deal with food recalls can quickly be overtaken by the process. Therefore, it is important to understand the cost of food…

What You Need to Know about Marine Cargo Insurance

June 2, 2022 |

As a business owner, you’re always looking for ways to minimize your costs and protect your interests. When you’re shipping goods over water, marine cargo insurance is one way to do both. Here’s what you should know about this type of insurance. What is marine cargo insurance? Cargo insurance protects your goods in the event…

What are the four types of marine insurance?

May 12, 2022 |

All insurance is designed to help you or your business manage risks in the event of accidents or damages. Marine insurance is designed to help manage the risks involved with the travel of goods from one destination to another.  Despite what the name implies, marine insurance covers all modes of transportation of goods. However, it…

What are the benefits of trade credit insurance?

May 2, 2022 |

Running a business is difficult. Learning to protect yourself from liabilities and potential losses is one of the most difficult parts of running a company. However, it doesn’t have to be as complicated as people think! One of the best ways to protect yourself from bad debts and unpaid invoices is to get trade credit…

Who pays for a product recall?

April 20, 2022 |

Product recalls are financial and PR nightmares for businesses. Potentially costing billions of dollars, product recalls can be one of the biggest financial losses a company faces. But who pays for a product recall? Many parties are involved, such as the company, insurance, 3rd party distribution, etc. Here’s what you need to know about the…

Mitigating Supply Chain Threats to the Food Chain

February 22, 2022 |

By Michael Coughlin and JJ Van Aman The global trade system has never contended with anything quite like the Coronavirus. The pandemic has triggered inflation across the supply chain from labor to raw materials, forcing corporate America to raise prices of everything from burgers to hoodies. However, hit by higher freight expenses, many companies still…

Who’s required to have flood insurance?

November 7, 2021 |

Whether you live inside or outside of the high-risk flood area, if you own property you should consider purchasing flood insurance for the protection and peace of mind it brings. However, many property owners, particularly those in high-risk flood areas, may be required to have flood insurance. Do you have a mortgage? Homes and businesses in high-risk flood areas with…

Study Projects a Surge in Coastal Flooding, Starting in 2030s

November 7, 2021 |

High-tide floods – also called nuisance floods or sunny day floods – are already a familiar problem in many cities on the U.S. Atlantic and Gulf coasts. The National Oceanic and Atmospheric Administration (NOAA) reported a total of more than 600 such floods in 2019. Starting in the mid-2030s, however, the alignment of rising sea…

What Is Multi-Factor Authentication?

October 3, 2021 |

Multi-factor authentication (MFA) is a security process that requires users to respond to requests to verify their identities before they can access networks or other online applications. MFA may use knowledge, possession of physical objects, or geographic or network locations to confirm identity. Why is multi-factor authentication needed? As organizations digitize operations and take on…

Help secure your accounts with these strong password tips

October 3, 2021 |

It’s no secret that passwords have substantial monetary value to cybercriminals. The importance of using secure, unique passwords is growing as you entrust increasing amounts of personal information to organizations and businesses that can fall victim to data breaches and password leaks. Although there may be little you can do to prevent a large-scale data…

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