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Is Your Business at Risk?

The number of changes and risk potential that the COVID-19 pandemic has presented to businesses is unprecedented. While normal business exposures remain, there are risks that have increased due to the current environment which are detailed below. We recommend reviewing your current coverages and limits with your insurance agent to ensure you are properly protected.

Cyber Liability & Data Security Insurance: Recent statistics show that on-line threats have increased as much six times their usual levels since the onset of COVID-19. Phishing (fraudulent attempts to obtain sensitive information such as usernames, passwords, and credit card information by disguising oneself as a trustworthy source) has skyrocketed over 600% since the end of February and e-mail takeover attacks are on the rise. Cyber coverage can protect businesses and individual users from Internet-based risks, and more generally, from risks relating to information technology infrastructure and activities. Some exposures include unauthorized access, human error, theft of digital assets, privacy breach, cyber extortion threats, and social engineering. Here are some claims scenarios that demonstrate the damaging impact of cyber and data security attacks.

Employment Practices Liability (EPL) Insurance: According to legal and other experts, the fluid and ever-changing nature of COVID-19 will undoubtedly have an impact on employment-related issues resulting in claims. EPL provides coverage to employers against claims made by employees alleging, for example, discrimination (based on gender, race, age, religion, or disability, for example), wrongful termination, breach of contract and harassment. Here are some claims examples for your review.

Directors & Officers (D&O) Insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company which include, but are not limited to, improper management, errors in judgement, negligence of duties, breach of fiduciary duty, misrepresentation, failure to comply with workplace laws. During this uncertain time, we recommend that you evaluate your potential exposures and explore coverage accordingly. Here are some claims examples for consideration.

At Avery Insurance we Analyze, Advise and Advocate for our valued clients. Please contact us to learn how to best protect your business.


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Avery Insurance Agency
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