BYOD Saves Money But Increases Risks for Small Businesses

BYOD Saves Money But Increases Risks for Small Businesses











CHICAGO, Ill. (PRWEB) February 05, 2013

Running a small business involves constant cost-benefit analysis. Each minute and dollar spent is one that must yield additional returns. That’s why it’s often easy to get roped into the latest technology fad that promises convenience and cost savings. TechInsurance, the nation’s leading online insurance provider for information technology businesses, has seen a notable increase in cyber liability coverage from small and micro businesses exploring bring-your-own-device (BYOD) approval, which empower employees to use their personal devices – from smartphones to tablets and laptops – for work and at work.

In a CDW survey of small businesses released in October 2012, 89 percent of IT managers said employees were embracing BYOD approval and using personal, non-company issued mobile devices for work. Yet just half of those IT managers thought their business had an effective strategy to deal with these devices.

“Small and micro businesses are particularly vulnerable to the challenges that arise from BYOD,” said Ted Devine, chief executive officer of TechInsurance. “Without a technology department to effectively manage these devices, small and micro business owners need to ensure their insurance coverage is comprehensive and protects against risks of data loss, viruses, and malware on non-company devices.”

TechInsurance recommends that small and micro businesses update their insurance coverage to include the following, which are part of TechInsurance’s suite of products:


    Cyber Liability Insurance: Mobile devices are particularly vulnerable to malware and hackers, who often look for the path of least resistance. Cyber Liability coverage protects against expenses and liability from the theft or loss of data and/or breach of data security and privacy.
    Errors and Omissions Insurance: This type of coverage protects your business from claims that you or one of your employees was negligent in carrying out professional duties. If, for instance, loss or theft of a mobile device resulted in exposure of customer data or inability to complete a time-sensitive project, Errors and Omissions Insurance would protect against related expenses and liability.

In addition to insurance coverage, formal BYOD guidelines should be accompanied by employee education and a thorough set of standards on how to handle company information. “Business owners cannot assume that because they have ceded responsibility for purchasing devices that they hold no responsibility for how those devices are used,” Devine notes. “Quite the opposite, both in practice and in terms of business liability.”

TechInsurance gives small and micro businesses access to the nation’s most respected, A-rated business insurance carriers as well as licensed insurance agents trained to identify the best possible insurance products to meet their needs. For more information on TechInsurance’s offerings, please visit http://www.techinsurance.com.

About TechInsurance

TechInsurance is a web-based e-agent that offers IT businesses and professionals fast, easy, one-stop shopping for all their Commercial Property Insurance and liability needs. TechInsurance was founded in 1997 in response to the difficulty IT services firms had finding high-quality, affordable business insurance. With more than 51,000 businesses insured since 1997, the company has grown to become America’s leading online provider of business and professional insurance for computer consulting, web services companies, and other IT service businesses. For information, visit http://www.techinsurance.com.























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As Impact of Natural Disasters Increases, FM Global Dedicates New Center for Property Risk Solutions and Opens 21st Century Learning Simulator

As Impact of Natural Disasters Increases, FM Global Dedicates New Center for Property Risk Solutions and Opens 21st Century Learning Simulator












Norwood, Mass., USA (PRWEB) September 21, 2011

In a year of unprecedented natural disasters and hundreds of billions of dollars in property damage worldwide, FM Global, one of the world’s largest business property insurers, has created the Center for Property Risk Solutions, marked by the opening of a new US$ 5 million experiential learning facility called the FM Global SimZone.

“The FM Global Center for Property Risk Solutions is the starting point for all the intellectual drivers for our property loss prevention expertise,” said Shivan S. Subramaniam, chairman and CEO. “With the opening of the FM Global SimZone, we’ve taken our capabilities far beyond where we’ve been before by creating a way for our engineers to experience our engineering solutions in a hands-on manner.”

Located outside of Boston, the FM Global Center for Property Risk Solutions houses the one-of-a-kind SimZone as well as the company’s scientific research operations, product-testing and certification division, offices for the development of property protection engineering guidelines and enterprise learning classrooms.

Like FM Global’s state-of-the-art, 1,600-acre Research Campus located in Rhode Island, the Center for Property Risk Solutions is central to the value the company provides its FORTUNE 1000-sized clients. “No organization has a center like this,” Subramaniam said. “It is the fountainhead of everything FM Global does for propelling its property protection guidance worldwide.”

A 21st Century Classroom Like No Other

The FM Global SimZone now enables the company to create simulations of environments and property hazards its loss prevention engineering consultants are likely to encounter.

The 21st century simulation-based classroom brings to life real-world educational scenarios involving common risks like fire, ignitable liquid, construction, equipment malfunction and electrical hazards. In the SimZone, thousands of possible property risk simulations can be created. These simulations provide hands-on opportunities for the company’s 1,800 engineers, and eventually clients, to apply their knowledge and critical-thinking skills to better protect business property from disasters.

“FM Global is the only insurance company with a facility that can simulate most types of potential property risks. That gives our engineers tremendous insights they can share with clients,” Subramaniam added. “The Center for Property Risk Solutions and the SimZone will help ensure property risks are only a distraction, not a disaster, for our clients.”

FM Global has occupied the Norwood, Mass., complex that is now the Center since the 1950s.

About FM Global

Established in 1835, FM Global (http://www.fmglobal.com) is a US$ 4.7 billion mutual insurance company, whose clients include more than one of every three FORTUNE 1000 companies and similar-sized organizations in more than 130 countries. FM Global works with its clients to develop robust property insurance and engineering solutions to protect business operations from fire, natural disasters and other types of property risk. Named “Best Global Property Insurer” by Global Finance magazine and “Best Property Insurer in the World” by Euromoney magazine, the company is rated A+ (Superior) by A.M. Best and ‘AA’ (Very Strong) by Fitch Ratings.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







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