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Safeguarding Your Business in the Digital Age: The Rising Importance of Cyber Coverage In today's interconnected world, businesses of all sizes are increasingly reliant on digital technology. From company websites and email systems to storing client information and accepting credit card payments, many businesses have embraced the convenience of the digital landscape. However, with these technological advancements come cyber threats that can pose a significant risk to businesses. If you have a company website, email, store client data, or accept credit card payments, it's crucial to be aware that you could be vulnerable to a cyber attack. The Prevalence of Cyber Threats: Cyber threats are found everywhere and constantly evolving. No business, big or small, is immune to potential cyber attacks. The frequency and severity of cyber incidents have prompted a paradigm shift in how we perceive Cyber coverage. It has evolved from being a "nice to have" aspect to a fundamental "need to have" policy for almost every company, across all industries. Small to medium-sized businesses are particularly at risk. Shockingly, over 98% of cyber claims stem from such enterprises. These attacks can have disastrous consequences, resulting in financial losses, damage to the company's reputation, and even business disruptions. The Average Payout and the Need for Protection: The financial implications of a cyber attack can be staggering. On average, a cyber claim results in a payout of approximately $170,000. For businesses, this could mean a severe blow to their financial stability, possibly even leading to closure. To mitigate these risks, businesses need to take proactive measures, and Cyber insurance has emerged as a critical solution. Unlike many other insurance products, Cyber coverage offers comprehensive protection against a wide range of cyber risks, including data breaches, ransomware attacks, and business interruption caused by cyber incidents. Moderated Rates and Increased Accessibility: The good news is that Cyber insurance is now more accessible and affordable for businesses. Recent months have seen a significant moderation in Cyber insurance rates. Previously, businesses faced annual rate hikes of 20-30%, making Cyber coverage daunting for some. However, the trend has shifted, and insured parties now experience more stable or even decreasing rates, particularly during policy renewals. High-income households are also recognizing the value of Cyber insurance, and the same positive trend can be observed among them. This indicates that businesses and individuals alike can now secure comprehensive cyber protection without breaking the bank. Take Action Today: If you're concerned about your business's exposure to cyber threats and want to explore Cyber insurance options, don't hesitate to reach out to our office. Our team of experts is here to assist you in understanding the cyber risks your business faces and finding the best coverage to safeguard your assets and reputation.

You come into the house in a rush moving onto the next thing on your to-do list. You pause for a moment and happen to look down at your hand. A wave of terror washes over you as you realize that the diamond from your engagement ring is gone. You immediately begin retracing your steps to try and remember where you might have been and what could have possibly happened to it? Panic, guilt, rage, are all emotions that you are experiencing simultaneously as you try figure out what happened and where that stone could have gone. You enlist the help of family and friends to help with the search. The kids, your dog, neighbors, any able-bodied person is called upon to help solve this horrific mystery. The fortunate few find the stone, but the majority of people do not and eventually the search is ended. Your insurance program and how well it was designed will have direct bearing on what happens next. A typical homeowner’s policy may provide some limited protection for valuables such as jewelry if they are stolen, but is it enough and does it cover loss or damage? A majority of home insurance carriers offer additional and broader coverages for jewelry and valuables but they have to be specifically scheduled on the policy. What are the steps make this happen? Have the conversation with your agent. Your agent should be a resource. Use them to make sure that you have the proper coverage and carrier for your jewelry and valuables. Get a professional appraisal. Go to your jeweler and have the value of your jewelry formally documented. Document, document, document! Good documentation is always one of your best assets in a claim. Take photos and save your receipts. If you have additional questions or want additional information on coverage for your jewelry, please call us or send us a message on Facebook - we will be happy to discuss your options. Happy Valentine’s Day from all of us at Fuqua Insurance Group!

1. Liability Limits This coverage provides a specific dollar amount of medical coverage to other people you would injure in an accident. The higher the limits, the better you will be protected. (ALWAYS) A way to check if you have enough is to see if bodily injury limits are more or less than the value of your home and retirement accounts combined. **ADDED BONUS: IT GETS CHEAPER PER $1000 OF COVERAGE AS YOU INCREASE LIMITS WITH THE VAST MAJORITY OF INSURANCE CARRIERS** 2. Uninsured/Underinsured Motorists This coverage is for medical damage caused to you and your passengers. It is sometimes reduced to save premiums which leaves you exposed to the 7.2% of drivers in the state without auto insurance. This doesn’t even take into consideration the number of people with inadequate limits. 3. Loan/Lease Gap Coverage This coverage provides additional money to cover the depreciation of your vehicle in the event of a total loss. Cars are expensive, and they depreciate the most in the first few years. Insurance policies will settle claims on an Actual Cash Value basis, meaning what the vehicle is worth at the time of accident. This can create havoc if you owe more on the car than what it is currently worth. This gap coverage helps handle this problem. 4. Glass Coverage Does your coverage cover rock chip repairs? Is there a deductible? One of the most common auto claims is rock chips and broken windshields. Many carriers will repair a glass chip with no deductible. If the chip moves to crack, you will have to pay your comprehensive deductible. 5. Rental Car Coverage This coverage provides a rental car to you in the event you are involved in an accident. This is not a mandatory coverage, but it can be very helpful in the event you have an accident. Often repairs after an accident can take    multiple weeks which can make this a very valuable coverage. **Note: This is not coverage for renting a car.**