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Baker Insurance Brokers
13750 Crosstown Dr NW #107
Andover, MN 55304
P: (763) 316-6632
Text Us: 763-703-7461
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Does your business need Cyber Liability/ Data Breach insurance?

Posted by on Jan 10, 2019 in Business Insurance, Commercial Insurance, data breach, News, Quick Tips, Uncategorized | Comments Off on Does your business need Cyber Liability/ Data Breach insurance?

Chances are the answer is yes. If your company handles customer information in any form, there is the potential for a data breach. Even if a computer is not used in your line of work, a data breach can still occur. Lets say you go out to your truck after having lunch and find someone broke into the truck and stole your clipboard with your next job on it, that’s a data breach. Do you have client information available to you on your cell phone? If you lose that phone, that’s a data breach. It’s not just the Target’s or the Blue Cross’s of the world that are the targets. 70% of all data breaches are small business’s with less than 100 employees. 55% of small business’s have had a data breach. 53% of those have had more than one! The average cost of a data breach is $200 for each and every current client, prospect or past client. Do the math, it can get expensive fast. If you choose not to report it, the Department of Homeland Security will fine you $500,000 in addition to those costs. Costs associated to a data breach include but are not limited to; 1) cost to hire a forensic engineer to determine the extent of the breach 2) you must notify each and every single person who’s information may have been obtained by the breach. 3) 1 year of credit monitoring for each person. Indirect costs associated are; 1) client turnover. 2) loss of reputation. 3) loss of good will. 60% of all small business’s are out of business within 6 months of a data breach. ” It takes 20 years to build a reputation and 5 minutes to ruin it” Warren...

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The Importance of a Home Inventory Checklist

Posted by on Dec 16, 2018 in Home Insurance, News, Quick Tips, Renter's Insurance, Video | Comments Off on The Importance of a Home Inventory Checklist

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Market Value vs. Replacement Cost

Posted by on Dec 15, 2018 in Home Insurance, News, Quick Tips, Video | Comments Off on Market Value vs. Replacement Cost

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How to Save Money On Your Auto Insurance

Posted by on Nov 30, 2018 in Auto Insurance, News, Quick Tips, Video | Comments Off on How to Save Money On Your Auto Insurance

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Selecting the Appropriate Liability Coverage

Posted by on Nov 20, 2018 in Auto Insurance, Business Insurance, Commercial Insurance, Home Insurance, News, Quick Tips, Video | Comments Off on Selecting the Appropriate Liability Coverage

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What To Do In An Accident

Posted by on Nov 10, 2018 in Auto Insurance, News, Quick Tips, Video | Comments Off on What To Do In An Accident

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Teen Driver FAQs

Posted by on Nov 2, 2018 in Auto Insurance, Quick Tips, Video | Comments Off on Teen Driver FAQs

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Protecting Yourself Against Identity Theft

Posted by on Oct 30, 2018 in Home Insurance, News, Quick Tips, Video | Comments Off on Protecting Yourself Against Identity Theft

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