Long Insurance Services of Kernersville, NC


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All Posts in Category: Business Insurance

What You Should Know About the Rise of the Side Business

There’s an exciting career revolution taking place – say hello to the “gig economy” (AKA, the side hustle), a booming new job market characterized by workers who call their own shots, set their own schedules and control their own destinies.

According to the Chicago Tribune reports, “There’s no hard data yet on the size of this labor force. Some say it represents less than 10 percent of the domestic workforce but is growing rapidly, while other studies say it makes up nearly 25 percent. The U.S. Department of Labor is conducting a study to determine its size.”

No doubt, it’s a trend that is on the rise. That – of course – got us thinking: What do insurance needs look like in the gig economy?

  • The Gig Gap: For decades, having a job meant being an employee of a company—often for life. Today, it’s a different story. Many people are a part of the “gig” economy. Upsides like freedom and flexibility attract people to this work. Yet there are downsides like hustling to find jobs and managing a fluctuating income. Another lesser known one is not having enough—or even any—business coverage. Fortunately, there are easy ways to fix that.
  • You’re Invited: Remember the “exchange chain letters?” If you sent a single kitchen towel to the first person on a typewritten list and then mailed the letter to six of my friends, you’d receive the bounty of 36 kitchen towels. These days, invitations continue, but the requests aren’t coming through the U.S. Postal System—they’re coming via email, text and, more often than not, social media.
  • How to Cash in on the Gig Economy: Whether you’re a new graduate looking for a job, a retiree looking for some extra cash or a stay-at-home parent hoping to grow your nest egg, there are many advantages to joining the gig economy. Here are a few.
  • [INFOGRAPHIC] Evolution of the Gig Economy: Gig economy. Side Hustle. Welcome to the 21st Century workforce. Check out a few ways some of the most popular side gigs have evolved over time.
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Cyber Liability – Understanding Cyber Liability for Technology Companies

Recently, a large healthcare provider reported that, due to a data breach, it would be providing credit
monitoring and identity theft services to over 600,000 individuals for two years. In addition, the same provider settled class action lawsuits in several states with payments to each individual. The total costs to the provider were in the tens of millions – all as a result of a network security failure. This scenario
illustrates the economics of cyber risk and liability, an area of growing concern for life science companies.

What is cyber risk and how do medical technology and pharmaceutical companies manage this potential for financial loss? Cyber Exposure Simply stated, cyber exposures are directly connected to the responsibility companies have to protect their electronic information. Cyber risk refers to the potential consequences associated with this information being compromised or misused.

Cyber Liability Insurance

Cyber Liability Insurance

Failsafe Overview

Failsafe Overview

Failsafe Coverage Analyzer

Failsafe Coverage Analyzer

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Data Breach Insurance: Just the Facts

As the facts emerge, one thing is becoming clear – a data breach is a serious issue every small business needs to understand and plan for.

Data Breach Insurance

Data Breach Defined – Loss, theft, accidental release or accidental publication of Personally Identifiable Information (PII) and Protected Health Information (PHI) including: Social security number, bank account number, credit or debit card numbers, driver’s license number, patient history and medications.

How a Breach Can Occur – Stolen or lost paper and electronic files; stolen or lost laptop, smartphone, tablet or computer disks; stolen credit card information; employee error or oversight; theft or release due to unauthorized access (such as by former employees or vendors); hacking.

Who Needs Data Breach Coverage – Any business, small or large, that handles or stores any private customer, patient or employee data is at risk. Businesses such as healthcare practices, law offices, accounting offices, retailers, restaurants or financial services are at a higher risk for a data breach because of the quantity and type of sensitive information they handle and store.

How Data Breach Insurance Can Help – Offers time-saving professional services to help quickly restore your business’ reputation, guide you in handling a breach and assistance with regulatory compliance Covers response expenses, including mailing notification letters, credit monitoring services and public relations Provides coverage for defense and liability expenses in the event you’re sued because of a breach.

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Business Insurance Quotes

When was the last time you had your insurance quoted? We have multiple lines to find the best rates for your Personal and Commercial needs.  Call us today at 336-992-5664 to see if we can save you some $$$$.

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