How Cyber Liability Insurance Can Keep You in Business

Posted under Commercial Insurance, Cyber Liability.

shutterstock_81825655Almost every business has a cyber liability exposure.  Most businesses are securing some form of coverage to protect their companies from these types of threats.  A recent report by a leading insurance firm said that purchases of cyber insurance grew over 30% in the last year.  It has become clear that even a good IT department cannot solve all the cyber risks your business has.

Cyber liability coverage (for data breaches) has evolved from just insurance for information technology companies, to coverage that nearly every kind of business should have — if they do not already.  Businesses including retailers, banks, contractors, distributors, restaurants, medical offices and more are unaware of the severe data breach exposure they face.

Here are a few of the latest methods used by cyber criminals

  • Social Engineering. This email looks like it is coming from your boss or CFO to transfer funds into the company account.
  • Direct Force. This is software that attaches to your computer, usually through emails, and then goes through hundreds of thousands of different words, combinations of words, and numbers to try to crack your password.
  • This is a common way to gain entry and pull information.  Again, usually attached to an email, and once it is opened, the virus accesses your system.

Cyber Insurance

We can provide your firm with the right combination of pricing and coverage.  Cyber risk insurance is available at very reasonable premiums.  Many of our companies offer coverage to help protect your business from loss.

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.  We primarily write business in Johnson and Wyandotte Counties in Kansas but are licensed in the entire State. We primarily write business in Jackson, Cass and Platt County in Missouri but again are licensed in the entire State to write business.

What Is the Difference Between Homeowner’s Insurance and a Home Warranty?

Posted under Homeowner’s Insurance, News and Announcements, Personal Insurance.

insuranceservices_blue_houseHome warranties are offered by many companies, mostly during the selling process. Typically, there are two types of home warranties that people will purchase for their homes.  The first one covers any major systems or repairs for the first year, and the second is an annual renewal type contract which continues to keep the coverage active. See more

Homeowner’s Insurance

A homeowners insurance policy protects your home and personal property from damages as result of a fire, wind, storm, or some other act of God or covered activity.

Home Warranty

A home warranty, on the other hand, is optional and typically covers the costs for repair or replacement of the electrical, plumbing and HVAC systems as well as major appliances like the refrigerator or oven.

Home warranty protection usually offers repair or replacement of a specific item for a specific period of time.

Even if you secure a home warranty policy, we recommend that you also have a homeowner’s insurance policy, as there are limitations in home warranty products.  If you have a mortgage, homeowner’s insurance is generally required by your mortgage company.

With over 30 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We are a full service insurance agency representing individuals, families and businesses in the Kansas City area. We are licensed professionals who are not limited to placing your insurance with just one carrier. We have the flexibility to choose the insurance company that best serves your individual needs. Having choices is our advantage and it benefits our customers.

 

Does Your Homeowner’s Insurance Offer Hidden Coverage?

Posted under Homeowner’s Insurance, News and Announcements, Personal Insurance.

insuranceservices_blue_houseHomeowner’s Insurance Update

How many of you have actually read your homeowner’s insurance policy? We guess not too many. We do recommend that you read your policy to help you understand what coverage you have. Most homeowners are familiar with the basic coverage found their homeowner’s insurance policy; including coverage for the home itself, personal property and liability associated with owning a home.

Are There Other Coverages?

There is often other coverage found in your homeowner’s insurance policy that you may not know you have. Remember, each policy is different, so these coverage examples are general in nature.  This “hidden” coverage may have specific limits and terms of which you need to be aware, but here are some examples of coverage found in most homeowner’s insurance policies.

  • Liability coverage away from your home. You have coverage if you cause injury to a third party away from your premises.
  • Damage to your neighbor’s property. If you are at a party and cause damage to your neighbor’s property, chances are it would be covered.
  • Legal expenses. Should you be sued for an accident that occurred in your home, chances are legal costs would be covered under your homeowner’s insurance policy.
  • Additional living expenses. Your policy can pay the additional costs of living away from home if you cannot live there due to damage from an insured loss. It covers hotel bills, restaurant meals and other costs, over and above your usual living expenses, incurred while your home is being rebuilt.
  • Many homeowners’ policies provide a small amount of coverage for stolen money.
  • Property of your college student. If your dependent child is a full-time college student living on campus, their property is covered by your homeowner’s insurance policy

It is important to note that not all homeowner’s policies are created equal, and what one company offers may not be the same as another company. Also keep in mind, if you bought your policy online, who really knows what coverage you have?

With over 30 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We are a full service insurance agency representing individuals, families and businesses in the Kansas City area. We are licensed professionals who are not limited to placing your insurance with just one carrier. We have the flexibility to choose the insurance company that best serves your individual needs. Having choices is our advantage and it benefits our customers.

 

Summer Can Be Risky Business for your Family

Posted under Homeowner’s Insurance, Personal Insurance, Safety.

Personal Insurance Update

With the summer months approaching, now would be a great time to review your homeowner’s and personal insurance program.  There is a large spike in auto accidents during June through August.  We offer a free review to assess your insurance needs, and we can recommend needed personal insurance coverage like a personal umbrella, cyber liability, and flood insurance.  Summer Risks Are Very Real.

Here are a few of the risks your family may face this summer:

  • Watercraft — Remember, your personal watercraft insurance does not cover racing. In addition, if your boat is over a certain length, you will need a separate boat policy.  Remember to have personal floatation devices for all people in the boat, and do not drink and drive your boat.  Venture beyond the geographic limits in the policy and the insurance may be nullified.
  • Travel — If you are planning a family vacation, make sure you keep your home safe while gone. Use timers on lights, cancel the mail and garbage, and do not post vacation pictures on social media while you are gone.
  • Swimming — Never leave a child unattended around water. If your child does not know how to swim, make sure they have a floatation device on at all times.
  • Bug Bites — If you are heading outdoors, be prepared for annoying critters. Use EPA-registered insect repellents* that contain at least 20% DEET (products include Cutter Backwoods and Off!  Deep Woods) for protection against mosquitoes, ticks, and other bugs.  Other repellents protect against mosquitoes, but may not be effective against ticks or other bugs.
  • Barbequing — Never leave a barbeque unattended. Do not barbeque inside or in a garage.  If you receive a minor burn, hold the skin under cool running water for up to 15 minutes to reduce swelling or until the pain subsides.
  • Sunburns — Always use sunscreen, and if your skin is burned, mix one-part whole milk with one-part cool water and gently apply it into the affected areas with a washcloth.
  • Heat Stress — You may be having fun or working in the sun, but if it is hot, keep hydrated by drink plenty of water. Wear lightweight clothing and take breaks every hour or so.
  • Fire pits — Fire pits are becoming increasingly popular for outdoor entertaining. While some burn wood, others use propane or natural gas.  Keep kids at a safe distance and teach them that fire pits stay hot long after the flames go out.

Remember to always seek medical treatment if the injury warrants it.

With over 40 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We have established relationships with some of the top carriers in the industry including Travelers, Allied, Kemper, Encompass, Progressive and many others.

How to Properly Insure Summer Interns

Posted under Commercial Insurance, News and Announcements, Safety.

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Many businesses are getting ready to hire summer interns. These internships can be rewarding for the college student as well as provide some help to the business.  Offering paid or non-paid internships can create risk for your business.  If the interns are receiving wages, they will be considered employees of the company, and eligible for workers’ compensation insurance coverage under your current policy.  If the interns are not receiving wages, you should check with your workers’ compensation insurance carrier to make sure they are covered for workplace injuries.

The Department of Labor (DOL) recently updated their requirements for interns.

  • Even though it includes actual operation of the employer’s facilities, the internship is similar to training that would be given in an educational environment.
  • The internship experience is for the benefit of the intern.
  • The intern does not displace regular employees, but works under close supervision of existing staff.
  • The employer providing the training derives no immediate advantage from the activities of the intern and, on occasion, its operations may actually be impeded.
  • The intern is not necessarily entitled to a job at the end of the internship.
  • The employer and the intern understand that the intern is not entitled to wages for the time spent interning.

Businesses need to evaluate their internship program to ensure they meet the DOL criteria and any applicable state laws.  Unpaid internship programs should be designed to provide an educational experience.

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.  We primarily write business in Johnson and Wyandotte Counties in Kansas but are licensed in the entire State. We primarily write business in Jackson, Cass and Platt County in Missouri but again are licensed in the entire State to write business. We offer preferred coverage that qualifies for all mortgage companies and strive to be the premier Kansas City Independent Insurance Agency.

The Top Google Searches On Business Insurance

Posted under Commercial Insurance, News and Announcements.

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Our Business Insurance Answers

Your business insurance is an important part of your risk management program. It is important to have the right insurance coverage, competitive pricing, and the right insurer.  We have researched the top Google searches regarding business insurance programs, and we thought you might like to see what kinds of questions people are asking.

  1. What are the different kinds of business insurance? Business insurance can be broken down into the following categories; commercial property, general liability, crime, commercial auto, professional liability, and excess liability.
  2. What is employment liability insurance?Employment liability insurance covers claims made by your employees for injury that they suffer due to their work.
  3. Do I need business interruption insurance? Yes, every business should have some level of business interruption coverage. This insurance covers your business in the event you have to shut down for period of time due to a covered loss.
  4. How much insurance is enough? If you own a business, you should always consider liability limits of at least $1,000,000. Depending on your business you may need more. For example, if you own a wall building company you will want to have higher limits than someone who owns a laundry business.
  5. Is combined liability insurance available? You can build a business insurance policy that combines all the coverage you need for your business. You can take out liability, product liability, and employers’ liability cover to create a combined liability insurance policy.

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.  We primarily write business in Johnson and Wyandotte Counties in Kansas but are licensed in the entire State. We primarily write business in Jackson, Cass and Platt County in Missouri but again are licensed in the entire State to write business. We offer preferred coverage that qualifies for all mortgage companies and strive to be the premier Kansas City Independent Insurance Agency.

 

Kansas Contractors Insurance

Posted under Commercial Insurance, News and Announcements.

bigstock-Architect-looking-at-House-moc-15903488PlatinumOne Insurance Agency, provides insurance and risk services to the construction industry. Insurance can play an important role in “on time and on budget” projects. If your insurance coverage is not written properly, your business may not survive financially. Your success depends on good planning whether you’re estimating a project, hiring good people, protecting your business with complete commercial insurance, or selecting your insurance agent.

You can depend on our team of construction professionals to design, build, negotiate and implement an insurance program that fits your individual needs. As your insurance partner we will create and deliver insurance solutions today in order to keep you in business tomorrow.

­­­­­­PlatinumOne Insurance Agency, has created and developed strategic partnerships with many highly rated insurance companies. Our goal is to create the right combination of coverage, price, and service that exceed your expectations.

Over the years our construction professionals have worked with many different kinds of construction firms, including:

  • General contractors
  • Restoration contractors
  • Environmental contractors
  • Electrical contractors
  • Painting contractors
  • Paving contractors
  • Excavation contractors
  • Masonry contractors
  • HVAC contractors
  • Plumbing contractors
  • Roofing contractors
  • Artisan contractors
  • Landscaping contractors
  • Specialty contractors

 

Having the right insurance coverage and the right agent is an important part of managing construction risks. As a contractor your insurance needs can change quickly. You need an insurance agency partnering with you to make sure your company’s unique needs are met.

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.  We primarily write business in Johnson and Wyandotte Counties in Kansas but are licensed in the entire State. We primarily write business in Jackson, Cass and Platt County in Missouri but again are licensed in the entire State to write business. We offer preferred coverage that qualifies for all mortgage companies and strive to be the premier Kansas City Independent Insurance Agency.

Why You Need A Personal Umbrella Policy

Posted under Homeowner’s Insurance, Personal Insurance.

umbrella-1014057_1920Let’s face it, most of us have limited budgets when it comes to our insurance.  And most people feel insurance is an expensive item.  Generally, auto, homeowner’s, RV, and boat insurance policies cover liability for injuries or property damage suffered by a third party. Personal insurance policies are designed to cover accidents for which the insured person may owe tens or even hundreds of thousands of dollars. However, sometimes the person may be responsible for an accident so catastrophic that the damages are $1,000,000 or more.

What An Umbrella Policy Covers

An umbrella insurance policy covers excess of your primary homeowner’s insurance, auto insurance, and other primary policies. Here is an example. John Doe falls asleep while driving and hits a van with a family inside. The accident results in $600,000 of medical bills, but John Doe’s auto policy has a $500,000 limit. Fortunately, John Doe also has a $500,000 umbrella policy, and the additional $100,000 would be covered under the Umbrella.

When You May Need An Umbrella Policy

  • Having rental property
  • Owning a Boat, RV, or ATV
  • Have a high net worth
  • Owning a business
  • Having teen drivers
  • Own a swimming pool, trampoline, or swing-set

In addition, the umbrella may cover things like volunteer activities, statements made online, and certain business activities that a homeowner’s or auto policy might not cover.

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.  We primarily write business in Johnson and Wyandotte Counties in Kansas but are licensed in the entire State.

The Advantages Of A Business Owners Policy (BOP)

Posted under Commercial Insurance, News and Announcements.

bigstock-Modern-business-buildings-45559522Commercial Insurance Update

There is no denying the fact that the success of your business depends on the hard work of you and your team. But one disaster can wipe out all your efforts and take the profits to dust.  So, to avoid such a situation, you need to insure your business; whether it is a small enterprise or a large corporation.

There are insurance companies which have policies that combine protection for all major property and liability risks into one package. You can also opt for separate coverage. Such a policy is called a Business Owners Policy (BOP). Larger companies tend to purchase a commercial package policy.

What Is Included In A BOP?

BOP’s include property insurance for buildings and equipment owned by the company. If there is any loss of income due to disruption of operation and business because of accidents like fire, it can be covered under the Business Interruption Insurance.

A BOP also covers the company’s legal responsibility for the harm it may cause to others, (bodily injury and property damage) as a result of your company’s negligence. BOP’s can also include professional liability, auto insurance, and workers’ compensation insurance.  Earthquake/Flood is not included in most BOP’s.

Advantages of A BOP

  • Includes many needed coverages
  • Can be very cost effective
  • Many of the top insurers offer BOPS
  • Can be modified to fit your needs
  • It can include workers compensation coverage

We are locally owned and operated out of Overland Park, Kansas and are strongly represented in all areas of the Kansas City metropolitan area including not only Kansas City, but also Olathe, Leawood, Lenexa & Shawnee.  We primarily write business in Johnson and Wyandotte Counties in Kansas but are licensed in the entire State. We primarily write business in Jackson, Cass and Platt County in Missouri but again are licensed in the entire State to write business. We offer preferred coverage that qualifies for all mortgage companies and strive to be the premier Kansas City Independent Insurance Agency.

Are The New Toys You Got For Christmas Covered Under Your Insurance?

Posted under Auto Insurance, Personal Insurance.

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Personal Insurance Update

The holidays are behind us, the tree is down, and the gifts are put away.  But wait, you may have a problem! In some cases, you may need to update your home insurance or auto insurance in order to maintain the proper coverage.  Many of us may have purchased gifts that increase our personal liability, and we thought it might be good to review these items. If you have any of these items, please call your agent today.

Gifts That You Will Need To Add To Your Personal Insurance Program

  • ATV’s, motorcycles, boats, and RV’s are not covered for damage or liability without an endorsement to your personal insurance policies.
  • If you bought an expensive ring, watch, or other item, it needs to be insured separately for loss and theft.
  • Drones are considered aircraft and there are many new laws that could impact your personal liability. Call your agent to review these issues.
  • The new car you purchased for your teenager will need to be added to your auto insurance policy.
  • Smart home technology. These systems may actually help reduce your homeowner’s insurance, especially if the technology includes alarm systems.
  • Guns and art may also need to be added to your policy if they are valued over a certain amount. Each policy is different, so call you agent.

If you added any other personal items of value you may want to review your personal property limits to make sure you are covered correctly.

We hope you never have a loss or claim, but if you do, call our office as soon as possible. Remember your deductible will apply to all losses. With over 30 years of experience in the industry, Brad Runnebaum and Jeff Hartman established PlatinumOne Insurance Agency in 2008. We are a full service insurance agency representing individuals, families and businesses in the Kansas City area. We are licensed professionals who are not limited to placing your insurance with just one carrier. We have the flexibility to choose the insurance company that best serves your individual needs. Having choices is our advantage and it benefits our customers.