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By Shayne Bevilacqua, MBA | 02-28-2024

BUYERS’ MARKET NO MORE   As the digital age deepens, businesses have been benefiting from a buyers’ market in cyber insurance, courtesy of relatively low premiums and generous coverage options. However, with the increasing sophistication and frequency of cyberattacks, this trend is expected to pivot. Industry leaders are now sounding the alarm on an imminent […]

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In 2023, cybercriminals amassed a staggering $1.1 billion from ransomware attacks, setting a new global record that surpassed 2022 earnings by a significant margin. This information comes from the latest findings by Chainalysis, a prominent blockchain analysis company. Despite the hope for a decline in ransomware revenue after a substantial drop in 2022 from the […]

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  In an alarming surge of digital extortion, cyber criminals have shattered previous records by amassing over $1.1 billion in ransom payments in 2023. This figure, released by cybersecurity experts, marks an unprecedented escalation in the severity and frequency of ransomware attacks targeting businesses, governments, and individuals worldwide.   Ransomware, a malicious software designed to […]

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By Shayne Bevilacqua, MBA | 02-08-2024

Labeled as the “Ultimate Data Breach,” a significant data spill has disclosed 26 billion records, breaching prominent platforms such as LinkedIn, Snapchat, Venmo, Adobe, and X, previously known as Twitter, marking it as one of the most substantial data breaches in history. The compromised information extends beyond mere login details, with a substantial portion being […]

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By Shayne Bevilacqua, MBA | 02-06-2024

Microsoft revealed that its corporate email system was breached by state-backed Russian hackers, resulting in unauthorized access to accounts held by key leadership and teams responsible for cybersecurity and legal matters. The intrusion, which began in late November, was only detected on January 12 and has been attributed to the same highly skilled Russian hacking […]

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By Shayne Bevilacqua, MBA | 12-07-2023

Professional liability insurance, also known as errors and omissions (E&O) insurance, plays a critical role in protecting professionals from potential lawsuits. As we stand at the forefront of the digital era, emerging technologies are reshaping industries and, subsequently, impacting the landscape of professional liability insurance. In this blog, we will explore how these technologies are […]

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By Shayne Bevilacqua, MBA | 11-28-2023

The rapid surge in cyber threats has become a significant cause for concern among consumers, yet a surprisingly small percentage are opting for appropriate insurance measures for protection. According to the latest Agency Forward survey conducted by Nationwide, only 15% of American consumers currently maintain personal cyber insurance.   In this age of digital interconnectedness, […]

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By Shayne Bevilacqua, MBA | 11-02-2023

  Technological advancements have significantly transformed the life and health insurance industry in recent years. Experts, including Senan O’Loughlin, Executive Vice President of US Mortality Markets at Reinsurance Group of America (RGA), highlight the game-changing potential of innovations such as artificial intelligence (AI) and machine learning. In this article, we will explore the impact of […]

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By Shayne Bevilacqua, MBA | 10-26-2023

With the growing popularity of telemedicine, healthcare providers are increasingly offering telehealth services to enhance accessibility and affordability for patients. While telehealth has its benefits, it also brings forth data security and medical malpractice risks that need to be addressed. This article explores the safety of telehealth and highlights essential telehealth policies that can protect […]

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By Shayne Bevilacqua, MBA | 09-26-2023

The cyber insurance market has experienced a rollercoaster ride in recent years, with periods of growth followed by setbacks. Just as insurers were beginning to see profitability return, the industry faces a new wave of losses stemming from ransomware attacks, business email compromise (BEC), and privacy litigation. A report from Tokio Marine HCC highlights the […]

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By Shayne Bevilacqua, MBA | 09-07-2023

As a lawyer, protecting your clients’ confidential information and data is critical. Cyber liability coverage can help to mitigate the risks associated with data breaches and cyber attacks. However, it’s important to choose the right cyber liability coverage for your practice. In this blog, we will explore the top 8 factors lawyers need to consider […]

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By Shayne Bevilacqua, MBA | 08-24-2023

The medical field is experiencing a groundbreaking development in cancer detection, thanks to recent advancements in artificial intelligence (AI). Researchers have successfully developed an AI model that surpasses human radiologists in accurately identifying cancer from radiology films. This revolutionary breakthrough could potentially save millions of lives through early detection and treatment.   A study conducted […]

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By Shayne Bevilacqua, MBA | 08-22-2023

In an ever-evolving business landscape, future-proofing has become a vital strategy for organizations seeking long-term success. This proactive approach involves identifying potential risks and implementing measures to mitigate them. In this blog, we will explore key strategies to future-proof your business, with a specific focus on cyber insurance and professional liability insurance to address emerging […]

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By Shayne Bevilacqua, MBA | 08-15-2023

As a small business owner, protecting your business from cyber threats is critical. Cyber attacks can result in lost data, financial losses, and damage to your business’s reputation. Cyber insurance can help to mitigate these risks, but how do you determine your cyber coverage needs? In this blog, we will explore how small business owners […]

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By Shayne Bevilacqua, MBA | 08-10-2023

In today’s digital era, social media has become an integral part of our daily lives. It has also emerged as a powerful tool for businesses to connect with their target audience, build brand awareness, and drive growth. However, harnessing the full potential of social media requires the effective utilization of various tools and strategies. In […]

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By Shayne Bevilacqua, MBA | 07-25-2023

The Bank for International Settlements (BIS), often referred to as the central bankers’ central bank, has unveiled a comprehensive plan to safeguard digital national currencies against cyberattacks. With approximately 130 countries exploring the development of central bank digital currencies (CBDCs), concerns have arisen regarding the potential vulnerabilities of these online assets to criminal activities and […]

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By Shayne Bevilacqua, MBA | 07-18-2023

According to a report by broker Howden, cyber insurance rates declined by approximately 10% in June compared to the previous year. This reversal of recent sharp rate increases is attributed to smaller-than-expected claims. In 2021, cyber insurance rates more than doubled due to the COVID-19 pandemic and the surge in ransomware attacks. However, the number […]

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By Shayne Bevilacqua, MBA | 07-11-2023

In today’s digital age, online reviews have become a key factor in the success of businesses. Positive reviews can help attract new customers and build trust with existing ones, while negative reviews can have the opposite effect. In this blog, we will explore how online reviews can help your business and why it is important […]

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By Shayne Bevilacqua, MBA | 06-13-2023

In today’s digital age, businesses are increasingly dependent on technology, and the risk of a cyber-attack is higher than ever. Cyber liability insurance is a relatively new type of insurance that has rapidly grown in popularity over the past few years. In fact, it is the fastest-growing insurance product, and for a good reason.   […]

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By Shayne Bevilacqua, MBA | 06-08-2023

  Claim Description: A box of rental applications with the name, names, addresses and Social Security numbers of 500 individuals was stolen from the office of an apartment complex.   Coverage: Data Compromise COST: $17,500 for notification, call center and credit monitoring expenses     Claim Description: Identity thieves used credit card skimmers at a […]

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By Shayne Bevilacqua, MBA | 05-23-2023

What is Cyber Liability Insurance?   Cyber liability insurance is a type of business insurance that protects businesses from financial losses due to cyber incidents. It covers costs associated with data breaches, extortion fraud, as well as other expenses related to the recovery after such an event. Cyber liability policies are tailored to fit your […]

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By Shayne Bevilacqua, MBA | 05-16-2023

As technology continues to advance, businesses are increasingly reliant on remote access solutions to stay connected with their employees and customers. However, with the rise of remote access comes an increased risk of cyber attacks. As a result, many insurance providers are now requiring businesses to implement multi-factor authentication (MFA) for remote access as a […]

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By Shayne Bevilacqua, MBA | 02-14-2023

Due to the covid-19 pandemic, the demand for telehealth services has increased significantly, leading physicians and hospital systems to adopt more technologically efficient methods of digital communication. Unfortunately, there has been such a spike in demand and complexity of these services that several facilities are beginning to enforce additional billing for digital services.    While […]

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By Shayne Bevilacqa, MBA | 02-23-2023

In recent years, ransomware attacks have increased along with the insurance market to protect from them. Although there is coverage offered to protect against ransomware attacks, there are outstanding risks that can impact the insured.   On December 27, 2022, the Supreme Court of Ohio denied insurance coverage for incurred losses after software and data […]

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By Shayne Bevilacqua, MBA | 03-07-2023

Today we will focus on the need to know tips for starting and maintaining a healthy foundation of a remote workplace that wil.   Evaluate! The first key to running a successful remote business is to assess company needs and planning accordingly. By taking this crucial first step, you gain a better understanding of where […]

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By Shayne Bevilacqua, MBA

Today’s message serves as a quick reminder to stay diligent and up to date on your cyber security coverage, especially if you have been subject to a previous attack. Ransomware is the most common ways that modern hackers are using to steal personal information from companies. Also, companies that have been attacked before have a […]

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By Shayne Bevilacqua, MBA | 01-24-2023

Today we will focus on making you money! Yes, we are going to provide four payment methods that have been proven to increase small business revenue. Using mobile payments, text to pay, and credit cards have all been proven to have the ability to increase revenue by up to 29%.   Mobile Payments:  As can […]

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By Shayne Bevilacqua, MBA | 01-19-2023

Especially in recent times, cyber security is one of the most important factors involved in business and how to make sure that valuable, personal information for your business is protected. One of the most universally accepted methods of protecting company information is multi-factor authentication (MFA). MFA, in layman’s terms, is a second round of proving […]

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By Shayne Bevilacqua, MBA | 01-17-2023

In light of some small signs of decrease in suspected cyber risk from 2021, a recent study from Beazley detects some signs that many business leaders from the U.S. and UK may be complacent or overconfident about their cyber security preparedness. Given that cyber risk was chosen as the top tech risk for businesses in […]

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As you may know, the insurance market is heavily reliant on manual processes, especially when lines of businesses utilize agents and brokers in distribution efforts. As these manual processes may be both taxing and time consuming, the progression of technology may be opening new opportunities that could save you and your firm time. Artificial Intelligence […]

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By Shayne Beveilacqua, MBA | 12-20-2022

Today’s message focuses on the importance of telehealth as it relates to monitoring medicine assisted training (MAT) and its ties to substance use disorders (SUD). According to the U.S. Department of Health and Human Services, about 10.1 million people struggle with opioid related SUDs, a statistic serving as a major driver of U.S. attention toward […]

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By Shayne Bevilacqua, MBA | 12-06-2022

While the holidays are a fun time for families, they can be a challenging time for IT. Cyber attacks have become both more frequent and more sophisticated, so it’s important not only to have security in place but also to know what makes an attack successful. This guide offers tips on how to respond to […]

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By Shayne Bevilacqua, MBA | 12-01-2022

Today’s message will focus on various things to consider when deciding how to be protected from cyber security risks. Many companies are frustrated as prices of cyber security insurance continue to rise and are beginning to look for alternative options to suit their needs. Some are under the belief that purchasing compensatory controls may be […]

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By Shayne Bevilacqua, MBA | 11-29-2022

What is the Metaverse? To begin, the meta verse is the product of combining elements from both the physical and virtual worlds to allow for simultaneous experiences. With this new technology, you have the ability to visit facilities across the world while interacting with devices within it. All by simply putting on a headset and […]

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By Shayne Bevilacqua, MBA | 11-17-2022

Today’s message focuses on cyber-security, diving specifically into how your company can manage risks of using Enterprise Connected Devices (ECDs) and how to also better educate employees in preventing an attack. ECDs are employees issued devices having internet connectivity. Several companies, maybe even your own, utilize enterprise connected devices as they are intended to streamline […]

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By Shayne Bevilacqua, MBA | 11-08-2022

Today we reflect on a very important topic in the world of cyber security, phishing, and how Cyber Security can be beneficial in the prevention of an attack.  Phishing is defined as the use of fraudulent email accounts intended to lure viewers to click on messages in attempts to steal personal information or install malware […]

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By Shayne Bevilacqa, MBA | 10-18-2022

The question of how much your business should post on social media sounds like an easy one. However it can be quite complicated to answer exactly. Posting too much on your business’s accounts may cause current or potential customers to feel overwhelmed. In contrast, not maintaining a social media presence at all may also cause […]

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By Shayne Bevilacqa, MBA | 09-29-2022

The healthcare industry is an industry full of sensitive and private information from all walks of life. Healthcare businesses commonly require card payment information, patient health records, and personal identifying information. As these types of information are the most sought after among cyber criminals, the healthcare industry is a perfect target for them. When patients’ […]

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By Shayne Bevilacqa, MBA | 09-27-2022

Having a cluttered email inbox is something nobody wants. One thing that people have found helps is using email aliases.    What is an Email Alias? Email alias is in simple terms: a forwarding email address. With email aliases, you can make an infinite number of unique email addresses that are all connected to the […]

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By Shayne Bevilacqua, MBA | 08-25-2022

Substance use disorder and mental health advocates have been long awaiting updates to the DAACA and MHPA confidentiality provisions. Advocates were hoping for updates allowing for easier sharing of patient information between mental health and substance abuse disorder providers, in hopes to provide more efficient and satisfactory patient care.   DAACA and MHPA were put […]

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By Shayne Bevilacqua, MBA | 08-23-2022

Accusations under Illinois’ Biometric Information Privacy Act include allegations that TikTok has been using technology for facial recognition in order to pin down user ages, gender, and ethnicity. They allegedly used this information to factor into their algorithm of recommending videos to users, and prevent minors from using the app.    The allegations claim that […]

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By Shayne Bevilacqua, MBA | 08-18-2022

Due to the major increase in ransomware attacks and their multimillion dollar payouts, qualifying for a cyber insurance policy isn’t as simple as a phone call to a provider. But how can you do your best to qualify at a fair price?   The Market in the Past Few Years  The average cost of insured […]

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By Shayne Bevilacqua, MBA | 08-10-2022

The term metaverse is loosely defined as a virtual environment shared by many people via digital devices. The four technologies that the metaverse is usually accessed through are virtual reality, mixed reality, extended reality, and augmented reality.    Metaverse Market Predictions As our world is transitioning into being immersed in technology, the metaverse market is […]

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By Shayne Bevilacqua, MBA | 08-08-2022

In 2021 we experienced rapidly climbing ransomware attacks, which then led to cyber insurance rates rising. Experts around the world are doing their best to stay ahead, but it doesn’t seem to be looking up in 2022. Rates are projected to stay the same despite the efforts to slow down the devastating attacks. With our […]

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By Shayne Bevilacqua, MBA | 08-01-2022

With crime rates rising in big cities such as New York City, Philadelphia, Chicago and more, there is a growing concern among workers about returning to their offices.    What’s Causing the Scare? In New York City on Tuesday April 12, a shooting occurred on the subway leaving a Goldman Sachs employee dead, and ten […]

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By Shayne Bevilacqua, MBA | 07-28-2022

With the constant worry of cybersecurity breaches in today’s world; how can we safely send HIPAA compliant text messages out to our patients/clients?   What is the Risk You Take in Sending Private Information Over Text? Although texting is an easy and efficient way to send information out to patients and or clients, there is […]

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By Shayne Bevilacqua, MBA | 07-20-2022

As challenges and trends surface on TikTok, people of all ages attempt to recreate them. A recent challenge that has resurfaced, the “blackout challenge”, took the lives of two young girls. Following their tragic deaths, TikTok is being sued for wrongful death.   What is the Challenge? The blackout challenge is when people essentially choke […]

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By Shayne Bevilacqua, MBA | 07-09-2022

Cybercrime groups around the world attempt to steal data and threaten their victims into paying. As time goes on, these cybercrime groups are getting wiser to the game, and are making the threats increasingly worse.    What are the Groups Threatening Now? A ransomware group by the name ALPHV/BlackCat went from exposing victim data on […]

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By Shayne Bevilacqua, MBA | 06-09-2022

In the first quarter of 2022, global commercial insurance prices rose by around 11%, marking the fifth consecutive quarter with an increase of rates. However, the level of increase in premium has declined slowly and steadily.  The five-quarter rate increase has been the longest since 2012, but there still remains one big outlier: Cyber insurance!  […]

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By Shayne Bevilacqua, MBA | 06-06-2022

    Trends are constantly changing and reappearing in all areas of life, especially in the business and insurance industry. With 2022 reaching its midpoint, it is important for business owners to not only reflect on what they have accomplished so far within the year, but it is also important to understand trends that are […]

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By Shayne Bevilacqua, MBA | 05-02-2022

    With the COVID-19 pandemic slowing down, more and more employees are returning back into the workplace. However, the idea   of the common “workplace” will never be the same again, and remote work has proven to be more efficient in some cases for some   businesses as well. Since the workplace environment is […]

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By Shayne Bevilacqua, MBA | 02-16-2022

      What is First-Party Cyber Coverage?   First-Party cyber coverage is liability insurance that can help small businesses protect themselves against cyberattacks. The financial impacts of cyberattacks can be significant, so it is very important to make sure that your small business is protected against the potential financial burden of cyber attacks. First-party […]

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By Shayne Bevilacqua, MBA | 04-10-2020

April 10, 2020   UnitedHealth to offer nearly $2B in accelerated payments, financial support to providers (Fierce Healthcare-April 7, 2020) The insurer said that it would accelerate claims payments to both medical and behavioral health care providers across its fully insured commercial, Medicare Advantage (MA) and Medicaid plans. It will also make $125 million in […]

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By Shayne Bevilacqua, MBA | 03-27-2020

Please read this announcement from the SBA regarding their disaster loan program for new applications:   U.S. Small Business Administration   To submit an application:   Email: Email your completed document(s) as attachments to: disasterloans@sba.gov Any information you send to SBA via email is sent via an unsecured email link. Due to the nature of […]

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By Shayne Bevilacqua, MBA | 09-25-2018

Social media is a significant part of everyone’s lives now. Nearly every adult in the US spends some time on a social network whether it’s on Facebook, Twitter, WhatsApp or LinkedIn. There are many reasons why someone might spend time on these social networks, but some of the top reasons include sharing information about businesses, […]

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By Shayne Bevilacqua, MBA | 03-12-2018

It’s getting tougher every year to make an impact in the world of ecommerce, yet there has been significant growth. In 2015, online sales were worth $1.6 trillion. In 2018, that figure is expected to be $2.5 trillion. However, ecommerce is becoming very crowded. Statistically only one in every twenty online shops will sell more […]

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By Shayne Bevilacqua, MBA | 02-16-2018

Running an accounting firm is not easy. There’s a lot of competition for your business, and the work is demanding, especially around the tax season when workloads are higher than normal. Completing work isn’t your only problem. There are numerous challenges which you could face daily that could be harming your accounting firm’s bottom line. […]

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By Shayne Bevilacqua, MBA | 07-24-2017

The world is becoming increasingly digital and online payments are now an important part of a customer’s experience. In fact, if you don’t take online payments, people are less likely to buy from you. If you don’t currently take payments online, but are looking to provide this convenient service, what do you need to consider? […]

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By Shayne Bevilacqua, MBA | 06-19-2017

Remote working is the future it seems. According to surveys, business leaders believe that three-quarters of employees won’t work in a traditional office by 2020. This could mean they work from home or they operate on the go. In addition, more cloud-based applications are being used in businesses to help manage them than ever before. […]

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