An Insurance Package Solution for Small Businesses

Small businesses are not left out when it comes to insurance coverage. While all types of insurance policies are openly available to these small businesses, it is often too costly for most of them to operate. This is what an insurance policy like the Business owner’s Policy (BOP) was designed to cater for. BOP is more like a bumper package that comes included with several insurance policies. These include property insurance, liability insurance, and business interruption/continuation insurance.

While this insurance policy is quite affordable for many small businesses, it does have its limitations. It does not include health insurance, disability insurance, worker's compensation, and professional liability. While the package is suitable for small businesses, not all businesses are eligible for BOP. Businesses with unique risks like a factory or jewelry store would need a more customized coverage. BOP cannot cover the risks of such businesses. A BOP therefore, is ideal for all home based businesses. These businesses usually begin with few employees and as the business begins to expand, the coverage can be changed to fit into the new structure of the business.

Insurance Company Review - GNG

One of the sadness moments of my life was when I lost my home to fire. I spent almost four years building that property and in less than two hours, it was almost reduced to nothing. At that point, I couldn't even think of anything but when I got through to the guys at Greater National Group and told them what had happened, the lady calmly told me my complaint had been lodged. For someone as devastated as I was at that time, I never would have thought GNG would be the people I'll call a friend.

Since it was caused by an electrical fault, the company took care of all the costs of repairs and replacement. Today my family and I can boldly sleep in peace under our roof just because GNG did not let us down when we needed them the most. Thank you to Rob and your team of experts! My family will forever be grateful for what you guys did. 

Car Insurance: When is Your Vehicle Considered a Total Loss?

Ever been in a position where you had an accident with your car and your insurer tells you the car is totaled? This usually leaves many people confused as to how and why; especially when they think it was just a minor damage. We asked experts at Greater National Group to help simplify this for us. When the cost of repair is greater than the current cash value of the car, then the car is deemed totaled.

Age of the Vehicle

The first thing insurance companies look at is the age of the vehicle. A vehicle has a certain service age and as the years go by, the vehicle's strength diminishes. If the vehicle is already old, there's no need repairing it because it probably would soon expire.

Condition

The condition of the vehicle before and after the accident is another thing to look at. It's not about the physical appearance but it's actual working condition. The insurance company hires the services of a professional car mechanic to inspect the vehicle's condition.

Odometer Reading

Every vehicle's service life is measured by the odometer. Odometers read the distance traveled by the vehicle and the working life can be estimated using such readings.

Value of the Vehicle

By this, the price estimate of the car when it was bought and the current value in the local market. This, among all other factors, is used in determining if the car needs repairs or replacement. 

What's the Job of An Adjurer?

If you have ever has a loss or damage and need an insurance company to pay for it, then an adjurer is a word you're probably already familiar with. To help simplify the job description, experts at Greater National Group have outlined some of the activities of an adjurer.

1. They critically examine your policy to know the extent of coverage it has for your loss or damage.

2. They ascertain the level of loss or damage and properly document it for reference purposes.

3. They make a detailed inventory of all your business properties. This includes the undamaged and damaged properties.

4. If your policy coverage allows it, they calculate the loss incurred by your business as a result of the loss.

5. If there have been estimates provided for the repairs or replacement of property damaged or lost, the adjuster looks at all of them and compares them to see which is more feasible.

6. They are experts at filing a claim, so they provide you with all needed information to this effect.

7. They take back all documented information to the insurance company to start processing your filed claim.

8. Keep you updated on the progress of the filed claim process.

9. Ensure you are satisfied with the claim pay out and strengthens the trust bond between you and the insurance company.

Why You Need Worker's Compensation Included in Your Business Insurance

Business insurance is all encompassing and contains different sub-types. One of such is worker's compensation policy. This policy protects workers in case of an injury. The policy provides disability benefits, medical coverage, rehabilitation, and death coverage to employees.

Disability Benefits

When an employee is unable to work because he/she is disabled as a result of work injury, disability benefits replaces the wages for that period of time. This policy replaces just a portion of the wages and not necessarily the full wage during that period of time. There are 4 categories of disabilities; Temporary Total, Temporary Partial, Permanent Total, and Permanent Partial.

Medical Coverage

Just as the name implies, this relates to all medical cost incurred by the employee to treat an illness. The medical benefits are paid until the employee fully recovered from the illness. There are several variations as to what is obtain in this coverage as it differs from country or state to the other. Get in touch with any insurance brokers like those of Greater National Group, to provide specific information.

Rehabilitation

In cases where workers are unable to return to work as a result of a work related injury, this policy provides rehabilitation for such a person. The policy even goes as far as offering psychological rehabilitation to workers who suffer from work related mental injury.

Death

In the case of a death of an employee caused by work related activities, the policy pays benefits to the spouse, children and family in general. The policy also covers all burial incurred costs.

Insurance Company Review: GNG

As long as I can remember, I have always had one insurance policy or the other for my home and business. The truth is for a long time, I wasn't lucky with the insurance companies I used. I was introduced to the Greater National Group by my father in law. I remember walking into their office with much skepticism but was at ease with the level of professionalism and friendliness of the staff. Rob Sinclair has really got a great team over there. In June of 2013, my home was engulfed in flames and a part of my house was damaged.

It happened around 10am in the morning but was surprised when the company sent over an adjuster later in the day to evaluate the level of damages. The entire process of filing a claim was as stress-free as I could ever imagine. The adjuster kept me up to date on basically all new information regarding receiving compensation. GNG came through for me and paid for all repair and replacement costs. Just want to say a big thank you to the team.

What to Do After a Car Accident

Car accidents, no matter the magnitude, are almost inevitable if you drive every day. For this reason, car insurance is not some policy to take for granted. For a greater proportion of us, a car will probably be the second largest financial transaction we'll ever make - second only to buying a house. This means it is of much value to you.

Immediately After the Accident

The very first thing you do is to contact your insurance company and let them know you've been involved in an accident. Why this is advisable is because the incident is still very fresh in your mind and narrating specific details will be easy for you.

Take Record of Everything

Usually this would require writing down plate number, name of driver, exchanging insurance information and all the sorts. In this age we're in don't let your smartphone go to waste. Take as many pictures as you possibly can. This will always come in handy in case the other party is trying to dispute how the accident occurred. If there are policemen on the scene, write down their names and numbers. Do same for any eyewitness willing to help out. According to experts at GNG, you are not being paranoid but ensuring you have evidence to back your story.

Filing Your Claim

Most insurance company will call back to ask questions about the accident. Questions being asked are just to get information on the true nature of things and not necessarily to freak you out. Once your claim is filed, the insurance company will immediately assign a claims adjurer to help with the proceedings. With the right coverage, your damages should be taken care of in no distant time.

Car Insurance: When You Get Hit By an Uninsured Driver

Usually when car insurance is talked about in cases of accidents, many go with the popular opinion that the victims exchange insurance information. This is done with the hope that the affected insurance company get to pay for the damages. So what happens when the person who hits you is uninsured or underinsured? These are situations that most people don't know how the process would work.

When asked, one of the experts at car insurance in Greater National Group helped give a simple explanation for it. Since we all know the steps to take immediately after an accident, let's just skip to what happens when you discover the person is uninsured or underinsured. The term uninsured or underinsured has different interpretations from one country or state or city to another. If you sustain injuries after a hit from an uninsured driver, your insurance company will pay for your personal damages. If no injury but your car is damaged, you would need to have collision insurance or something similar that covers you in such a situation.

If you do, your insurance company will pay you for all damages and go directly to the uninsured driver to seek reimbursement for the money paid to you. This has nothing to do with you as both parties would settle themselves. If it's an underinsured driver who probably has a policy that covers up to $3000 but you had damages of $7000, your insurance company will pay the additional $4000. Just like in the previous case, they'll go directly and collect the $4000 from the underinsured driver later.

Insurance Company Review

Until 2 years ago, I would consider myself unlucky when it comes to finding the right insurance broker. The last one I had left me hanging and was totally absorbed with working with a larger company. I got introduced to the GNG by a business colleague who has watched me suffer in the hands of insurance brokers for far too long. At first I was skeptical about it all but meeting with their representative for the first time changed my perspective entirely. He was ready to start off from whatever level of understanding I had of business insurance.

So when we had a little issue with my business, the company didn't hesitate to send an adjurer to come take a look at it. They were not only committed to paying for the damage, they readily provided ways to prevent future mishaps. You guys should keep up the good work you are doing. It is good to know there are still insurance brokers with honesty and integrity. 

Why We All Need Life Insurance

So as not to sound over dramatic, let's just say life insurance is one of the bedrocks of good personal finance. The surprising thing about life insurance is that as much as there are innumerable benefits from it, many people treat it with a seemingly lackadaisical attitude. This attitude is often borne out from our inadequate understanding of what it truly entails or a conscious effort to avoid the topic altogether.

The only reason why someone may want to opt out of this type of insurance is probably because they have no dependents to worry about. Life insurance has no benefit for the holder whatsoever but it goes a long way to ensuring that their dependents are well taken care of and do not have financial burdens to worry about.

Inadequate understanding of what life insurance entails is usually because of the misinformation being propagated by some inexperienced insurers. A top insurance expert at Greater National Group once said the misunderstanding comes as a result of people seeing life insurance as an investment instead of a risk management tool. The premium cost for life insurance is largely dependent on the type (Term or Permanent life insurance). There is no simpler way of reiterating the importance of life insurance in today's economy situations.

The Types of Business Insurance Your Business Needs

Businesses face several kinds of risks from the first day, all through its existence, to its last. These risks are no respecter of the size of business. For this reason, business owners have to be equipped with the right insurance policies. Insurance experts at Greater National Group have listed top insurance policies every business ought to have.

Professional Liability Insurance

This type of insurance is industry specific and may differ from one industry to another. This policy protects businesses from claims as a result of negligence or mistakes. The policy is also known as Errors & Omission Insurance.

Product Liability Insurance

This is a must for any business in the manufacturing sector. This insurance protects the business from law suits filed as a result of a damage caused by one of its products. No matter the level of quality tests undertaken, there is always a possibility of having faulty products released to the public.

Property Insurance

The importance of this cannot be overemphasized. Whether the business property is on lease or owned, it's always wise to get it insured. It usually covers things like the building, equipment, furniture, inventory, and all physical assets.

Worker's Compensation Insurance

Since business requires workers, then this is a must for all businesses. The insurance would take care of medical treatment and other worker's benefits.

Other insurances business owners should consider having includes Vehicle insurance, business interruption insurance, Business Owner Policy, and home base business insurance for small businesses.

Life Happens But How Prepared Are You?

Life insurance should be one of the most important insurance every family should have in its armory. Most people try to shy away from life insurance which actually is like shying away from the inevitable. As much as we don't like to talk about it, death happens to us all. Since we cannot escape it, what happens to people you love after you're gone? This is what life insurance hopes to answer.

Having life insurance ensures that your loved ones receive a lump sum of money when you did. This will go a long way to reduce the financial burden on them. While having a life insurance is important, according to insurance experts at Greater National Group, it is certainly not the end of it. You have to keep it updated by reviewing the terms it covers. This process ensures the coverage is sufficient enough in case of an unexpected loss of life.

Basically there are two main types of life insurance: Term insurance and whole-of-life insurance. The second one seems self-explanatory with the name but Term insurance is one that would pay you a lump sum if you die within specified number of years. This type of life insurance would need periodical renewal to stay viable. Whole-of-life insurance offers coverage and protection for a lifetime. Ideally, its premium is more expensive than the Term insurance.

Read it also: How to Reduce Your Vulnerability to Business Theft

Cyber Insurance Review - Greater National Group

Since I started my business in 2007, I have never had any cause to need an insurance pay out. Since the inception of my business, I have had a goof business insurance package with Greater National Group. Sometime last year, my business was among those affected by the wild fire. We almost lost everything and it was a devastating time for my family and business. I remember standing and watching my business go up I'm flames as the fire fighters fight to save whatever they could.

My first gleam of hope came when representatives from the GreaterNational Group came over to the house to discuss my options with me. They went over all the entire process with me, ensuring I understood every bit of it. My premium payments were up to date so I had no issues from my side. I was amazed the way the company took responsibility for every bit of loss. In less than 6 months, my business was up and running again. I am forever grateful to the team of professionals at GNG.

Read it also: Find Insurance That Matches Your Business Size

Tips to Protect Your Business Website from Hacking By Top Cyber Insurance Broker

Cyber-attacks are a major concern for businesses all over the world. A major marketing strategy for businesses is to own a website and while this has innumerable advantages, it also possess a level of vulnerability. Cyber insurance has become the only viable protection for businesses that have been hit with cyber-attacks. Although cyber insurance serves to take on associated risks, the professionals at Greater National Group advise that businesses should also be proactive with preventing such attacks.

Businesses should ensure they are up to date with cyber threats, especially when it affects others in the same industry. With such information, these businesses would be able to know how to better protect itself. It is always smart to update software when require as a delay could expose the company to cyber-attacks. The fact is that updates are quite expensive for software companies, so they do it occasionally or when there's known security vulnerability. So when an update is required, it should be done as quickly as possible.

Getting a very tight network security by installing an effective web application firewall is the first line of defense for any company. Although hackers have been able to break through certain firewall, it's usually as a result of a combination of weaknesses in the network security. Keep admin pages hidden as much as possible. When everything else is done, ensure regular backups just in case of any attacks.

Read Also: Cyber Insurance Brokers Look to Hackers to Help Curb Cyber-Attacks

Cyber Insurance Was Our Only Hope

The truth is that there are many more cyber-attacks than actually documented. Most businesses, in trying to do damage control and protect their reputation, do not report cases of cyber-attacks. My business was put to a halt in summer of 2013 when these cybercriminals hacked into my business firewall. We are an accounting firm with lots of personal data on our clients. It was a sad day for all of us in the company as we struggled to see how we could recover some of our data.

At first we wanted to keep things quiet and just see how far we could protect our reputation but after we spoke to the professionals at Greater National Group, they advised otherwise. They not only assisted in recovering what was left of the data loss but also gave tips on how we could prevent such magnitude in the future. In less than a month, the cyber insurance broker was ready to pay us for damages. In all honesty, if not because the company was protected by a reputable cyber insurance broker, we may not have been able to survive through that data breach storm

Cyber Insurance Tips Small Businesses Should Be Aware Of

Although data breaches have become a global epidemic, small businesses are yet to take quality effective measures to protecting or covering themselves against such risks. While the use of firewalls has prevented some level of cyber hackings, it still doesn’t stand as a total guarantee for data security. This in no way means businesses should stand aloof and watch their data get hacked.

Small businesses should understand that these cyber-attacks are a global phenomenon but there was few ways to keep track of these cyber-attacks trends, usually they occur through software hacks. Usually most of these software manufacturers make available their software to more than one business. A breach in a business using similar software as your business should put yours in alert because it is usually the same principles in hacking.

For most of us, we can identify phishing scams and most random-ware but this should make us complacent. The truth is that these phishing scams are become more well-crafted and specific. They are becoming harder to detect. Employees should be educated on how to avoid falling prey to such random-ware and phishing scams.

Qualities of a Reputed Cyber Insurance Brokers

An insurance broker acts on the behalf of its clients and gives advice in their interests. You can take the assistance of a broker for the business, vehicle, funding, health, life, or personal insurance. He knows all the rules and regulation, benefits, and prices of the various competing insurance policies so as to help you to find the apt coverage at the best price.

Hence, a life insurance broker would act on your behalf to find the most affordable and appropriate life insurance policy option from different companies. There are plenty of Cyber insurance brokers in Australia and thus, choosing the best one is a challenging task.

A reliable Australian Cyber insurance broker should be friendly, honest, and readily share the details of the companies he works with, if you ask him. He should be aware of the life insurance and its related companies. He should show all the favourable options so that you can choose the best one. Hire a well experience broker to avoid the risk of misinformation, and to get the expert advice.  He has to act in the client's best interests prior and then his own benefit. He can be sued and lose the license if at any point, he cheats and misguide the client for his selfish interest. Generally, the professional gets some compensation depending on his agreement with the insurance company. It is suggested to hire a life insurance broker having a good knowledge and experience in this field.

How to Get the Broadest Cyber Insurance Coverage at Competitive Prices

For a business to get the broadest insurance coverage at competitive prices, it is wise to hire a reputed business insurance broker. When a company purchases its insurance coverage through a broker, it is the Insurance Company that will pay him a certain percentage for his work. Those who are looking for an experienced Business insurance broker in Melbourne can choose from an extensive number of professionals. Some of them are employed at a brokerage while others work independently.
 

Browse the internet to get the details of the popular companies equipped with expert Cyber insurance brokers Melbourne. The professional's job is not limited just to give the details of a favourable insurance policy. He has to assess all the requirements of the business, and then provide different options to choose from. He has to ensure that the policies not only fit to a company's needs, but also to the risks that it may face. He has to provide the reasonable premium rates for the best coverage.
 

Insurance brokers act on the behalf of its clients and give the best suggestions on the insurance matters. The experts have all the knowledge related to this industry and its associated companies. They know everything about the clients' business, potential risks, and the appropriate policy to cover those risks. By hiring an experienced Cyber insurance broker Melbourne, you can be ensured of getting the best possible insurance coverage at competitive prices. So, investing in a reputed brokerage firm is a sagacious decision for your business profit.

Why I choose Cyber Insurance

As a IT security professional, I have had the privilege of working in some very good companies. While the job could be demanding, it is usually generally fun. One of the biggest challenges any IT security professional have to face is dealing with high tech cyber-attacks.

When it was time to start my company in June of 2007, among other things, my mind was focused on how well to protect my data from malware, hacks and spyware. Over the past few years, there have been worldwide records of cyber-attacks. Stopping these attacks is what I am legally trained to do but the channels through which they operate are sometimes too enormous to keep track of. I knew at that point that I needed Cyber insurance for my company.

Data breach is something I take seriously, so I set out only to get the best cyber insurance broker I could find. It was fun working with the professionals at Greater National Group as they simplified the entire process of cyber insurance. My company had its first hack sometime in October of last year. Although the damages were not much, GNG was with me all the way. They even went further to offer advice on how to protect my data in case of a future attack. I believe without any doubt that this is what professionalism is all about! 

Insurance Conference 2016: Educating Businesses about the Benefits of Cyber Insurance

As part of its annual conference, the Greater National Group (GNG) has earmarked the second half of the year to hold yet another conference. The conference would be dealing with pressing insurance issues in the society today and would be tagged 'Educating Businesses about the Benefits of Cyber Insurance'.

With the current surge in cyber-attacks all over the world, it has become imperative for businesses to take a more proactive solution than just sitting and waiting for events to unfold. Over the past few years, we have seen big companies, even multinationals, fall prey to these malicious cyber-attacks. As one of the leading Cyber Insurance brokers in the country, the company will be using the conference as a way to promote the campaign against cyber bullies.

Data losses or breaches have cost businesses all over the world billions of dollars. While there is yet to be an accurate figure for the total global loss, it is predicted to run into hundreds of billions within the past 5 years. The conference will bring together major stakeholders in the industry as well as investors and cyber security experts. An official date is yet to be released for the conference but by the end of the month, the company should release an official statement about it.

Government Partners with Cyber Insurance Brokers to Curb Cyber-Attacks

The US and UK business markets have been one of the major markets hit by cyber-attacks in recent time. Since this has become a global epidemic, governments all over the world have finally agreed to pull resources to tackle this growing plague.

Even the Asian market have not been spared of this malicious attacks as a major market player like Sony had to suffer data breach to these cyber hackers. Cyber-attacks are no longer a continental disease and it seems like even with the upgrade in security technology, cyber hackers too have made an upgrade. To help cushion the effect of these risks and losses, government is partnering with leading Cyber insurance brokers. Cyber insurance brokers would be able to bear the risks and keep these businesses afloat in case of a data breach.

A data breach cannot only affect the reputation of a company; the company could also face legal prosecution from clients. Cyber-attacks are not just small businesses targeted; they hit big businesses that have access to sensitive data of clients. While the world governing powers put heads together to solve this problem once and for all, Cyber insurance brokers have a lot to play to help weather the storm.

www.gng.com.au/

More Investors Look into Investing In Cyber Insurance

Just as the second quarter of the year is about to end, there are indications that new investors are looking to sink millions of dollars into the Greater National Group (GNG). The company has been a leading name in cyber insurance for the past years. The company since its emergence over 30 years ago has had a successful track record with clients.

It is not surprising that investors are looking to invest in cyber insurance as the market is seemingly profitable. Over the past years, cyber-attacks have been a major menace for both small and big businesses alike. With the wake of all of these, many businesses have moved to secure their business data and software with cyber insurance. Business watchers has predicted that with the rise of cyber-attacks and the frequency of occurrence, cyber insurance is the only way to help brace the impact for these businesses.

These top investors have marked out several cyber insurance brokers to sink their funds into. One of the top names up for consideration is one of Australia's top cyber insurance brokers - GNG. If this move is successful, this would give the company a greater financial standing and portfolio. 

Why I Chose This Cyber Insurance Broker

I started my company in the summer of 2002 and we have had quite an amazing journey since its inception. Among the successes, we have had several setbacks that should have shaken us but we were able to recover. Although at the time I was fully aware of the cyber-attacks gaining momentum, I really did not pay much attention to it because I had invested a lot in security. With time I decided to get Cyber insurance policy just in case of any unforeseen events.

Sometime in 2011, I was awoken with a call from the head of my data security department of a possible data breach and hack. Luckily for us, we just lost a couple of data even though they were valued at about $250,000. When I contacted my cyber insurance broker, it took me almost 3 months to realize they were never actually going to pay for the damages. I too got tired with their explanations and bureaucracies and gave up. I was later introduced to the Greater National Group by a very dear friend and got the company insured in less than two weeks. Filling the paper forms was never tedious and I had a Cyber insurance professional assigned to me to answer all of my many questions.

We had a breach again around October of last year and the company sent over some professionals to assess the damage. The company paid for it all without any hassle.

Understanding the Basics of Cyber Insurance

Not many people are quite aware of what cyber security insurance is truly all about. It is easy to explain the effects of cyber-attacks to small and big businesses but the role of these cyber insurance brokers are often misunderstood. Basically, a Cyber insurance broker is one that bears some of the risks associated with a Cyber security breach. In other words, these cyber insurance brokers mitigate financial damage for companies affected by cyber-attacks.

Usually when you are covered by a Cyber insurance broker like the Greater National Group, you have risk management strategy options to choose between First-party or Third-party insurance coverage. The former would cover all damages on your digital assets and business mishaps. Occasionally, it can assist in reputation control of the business. Third-party insurance looks to cover the cost of the following: legal defense, credit monitoring, regulatory fines, forensic investigations, compensation, public relations, and customer notification.

When dealing with cyber insurance, it is important to understand that different markets operate with different rules. When in doubt about any information, it is good to get a clear wording on it. Companies like GNG have professionals that sit with you and explain every aspect of the insurance to customers. Cyber-attack is a global epidemic that every one of us has to take seriously and protect our businesses at all times.

http://gng.com.au 

Summer Discount for Cyber Insurance

One of the best seasons in the year is summer. It comes with this associated freedom to relax and just have fun. Many businesses, especially those that are internet based, usually offer summer discounts for their products. So it is of no surprise that the cyber insurance industry is also offering same.

Cyber insurance is gradually becoming the next big market as cyber-attacks have skyrocketed over the past few years. As more and more companies get affected by cyber-attacks, there is more awareness on the need to be super protected and covered when one's business gets hit. At the forefront of this summer discount sales is one of Australia's cyber insurance brokers - the Greater National Group (GNG).

The company has been in existence for over 30 years and has helped thousands of people find the right insurance cover. With its current summer discount offer, both small and big businesses now have the opportunity to join the company and get their most valued businesses insured against cyber-attacks. While we all go out to enjoy the summer, it is also wise to ensure your business is also 'enjoying' the summer by being protected.

For more info, visit the website: http://gng.com.au

Cyber Insurance beyond Borders

Unless you have chosen to live in denial, cyber-attacks have become a global menace that has to be curtailed. It is no surprise governments all over the world are pulling strings together to try and bring an end to these cyber-attacks.

In Australia, top insurance broker company, Greater National Group, is also a certified cyber insurance broker. The company, since its establishment over 30 years ago, has successfully provided insurance cover of different kinds to clients. Recently, the company is making moves to take its services beyond the continent into other international markets. This move will no doubt throw the company into the international limelight.

When it comes to cyber insurance, the company has been one of the leaders in helping the national government provide relief to both small and big businesses. Industry speculators are of the opinion that if the company can finalize this move and make a breakthrough into the international market, it would be a great success, not just to the company but to the fight against cyber-attacks.

http://gng.com.au