insurance marketing

D&O Coverage Essential for Board Members in Healthcare Industry

Directors and officers working in the nursing home industry, whether for a public, private or nonprofit company, are entrusted with the management of corporations and their assets. It is vital that they exercise due care and diligence in managing any and all corporate affairs. Acts of negligence by an officer or director that results in losses to the corporation or its shareholders can result in their being held personally liable.


You should inform your clients in such a position, that to properly protect themselves in the event of a lawsuit, they, along with the organization itself, should purchase nursing home insurance coverage specifically under a directors & officers (D&O) policy. D&O insurance covers the corporation’s loss from indemnified directors and officers and the personal liability of directors and officers who are not indemnified by the corporation.


Types of claims that are covered by a D&O policy


There are a number of allegations that directors and officers working at assisted living facilities, nursing homes, medical facilities, or companies performing home healthcare, could potentially face. Claims and lawsuits are brought about by many different parties, including shareholders, physicians, creditors, employees, and patients.


Allegations can range from conflict of interests to fraudulent conduct. In addition, claims stemming from financial statements, a breach of contract, violation of articles or by-laws, improper self-dealing, and other wrongful acts can be filed. These institutions also come under fire for allegations of financial mismanagement, mistakes or errors in judgment, and negligence, which are all risk areas for directors and officers at healthcare organizations. Any covered loss will include payment for defense costs and indemnification if a settlement, up to the policy limits, is reached.


The important thing to remember for anyone assigned to a position as a director or officer is that, in the absence of D&O coverage, individuals, as well as the company itself, can be held personally liable for a number of allegations. These are exposures that can and should be covered by a comprehensive nursing home insurance coverage program that protects both, the entity, and the assets of the individuals on the board.

Cyber Crimes Plague the Healthcare Industry

The healthcare industry is facing a host of cyber security issues, which has the financial and reputational impact for hospitals and other healthcare institutions. In recent years, the healthcare industry has been under attack by cyber criminals looking to profit from stolen private and confidential information culled from medical records.


Your clients’ in the health care industry are extremely vulnerable to attacks and need data breach insurance as a way of protecting themselves with first party coverage, as well as third party coverage in the event of a lawsuit.


It’s no secret that data breaches have cost the healthcare sector billions of dollars already, a number that will most certainly continue to rise. The fact is that nearly 8 out of 10 healthcare institutions have been hit with two or more data breaches dating back to 2014. Moreover, nearly half of all healthcare institutions have been affected by more than five breaches since that time.


Most healthcare institutions unprepared for an attack


According to Symantec, a leading enterprise security vendor, healthcare companies are notorious for their limited investments in cyber security. This makes them a welcome target for hackers and cyber thieves. Healthcare institutions have been notorious for under spending on cyber security programs in recent years, but the tide may be changing.


According to the Federal Bureau of Investigation, electronic health records (EHR) are far more valuable than financial data. EHRs can sell for as much as $50 in the black market, compared to less than five dollars for a stolen social security number or credit card number.


The reason being is that EHRs are deemed more valuable because they’re more difficult to detect. Plus, EHR theft takes almost twice as long as normal identity theft to be determined. Unlike stolen credit cards, which can be canceled, and fraudulent charges that can be disputed, medical identity theft is a more complex issue and thus very difficult to resolve.


Cyber criminals have also resorted to using certain malware to infect a healthcare organization’s IT system, preventing the company from accessing certain files or sectors until a ransom demand is met. With so many concerns and so much at stake, your clients would be wise to secure data breach insurance as a way of combating these problems when they occur.

Texas Transportation Insurance Requirements

The state of Texas has requirements for what basic insurance a transportation company needs to carry in order to be compliant with the law. These types of insurance protect the business, its clients, and the public in the event of an accident or other property loss event.

Full commercial transportation insurance in Texas includes:

  • Automobile liability insurance
  • Cargo insurance
  • Workers Compensation / accident insurance

Automobile Liability Insurance

A commercial automobile liability insurance policy covers damages resulting from the operation of your commercial vehicle. Both the injuries of others and property damage are covered. Each vehicle in a commercial fleet that carries less than 26,000 pounds needs to have at least $300,000 dollars of liability coverage, and a vehicle that carries more than 26,000 pounds needs a minimum of $500,000 dollars of liability coverage.

Cargo Insurance

Cargo transportation insurance in Texas covers the damage or loss of the contents of commercial vehicles in the process of being transported. With cargo insurance, you will not have to go into debt to pay compensation costs to a client.

Workers Compensation

Accident insurance for your employees covers the medical care for an injury that occurs in the course of performing job duties. It also compensates for wages that are lost because the employee is not able to work. This protects employees from having a work injury destroy their personal finances.


Entrepreneurs Need Cyber Liability Insurance

Data breaches are increasing every year. IN 2013 only 33-percent of executives reported a breach while 43-percent reported a breach in 2014. As an entrepreneur, your business is just as at risk as bigger corporations, possibly more so. Traditional insurance doesn’t cover damages due to cyberattacks. What is a budding business person to do? Cyber insurance is the answer.

The Why

Doing business online without cyber liability insurance is like driving over the speed limit in traffic without auto insurance. Attacks are too prevalent to take the risk. It has been proven many times that cyber security is not keeping pace with hackers’ ability to steal electronic data. Insurance companies are aware of this. Therefore, premiums are high, but the consequences of going unprotected are far more devastating. Startups and small businesses are easy prey because they usually have softer security than big business. Prioritize cyber liability insurance.

The How

Three things will help to decide what type of cyber insurance is best for your business.

  • Checklist – First, you need to know from which dangers you need protection. Make a checklist.
  • Research – Learn the ways you are vulnerable to hackers.
  • Help – Ask insurance policy providers about risk management.

The start of a business is the perfect time to address cyber security issues. Install protective software and do research on business vulnerability to hackers. Protect your business further with the right insurance.

The Right Coverage Brings Peace of Mind

FGIB Bankers Professional Liability insurance is a simple and effective way for professionals in the financial sector to give them and their employees added protection from the risks involved in their industry. Nobody likes to think they’re going to be sued, but that doesn’t stop it from happening.

Those who work in the financial sector, whether it’s at a community bank, credit union or a different type of financial institution are at risk of legal action for a variety of reasons, which can include the following:

  • Providing inappropriate financial advice to a client
  • Mishandling the funds within a trust
  • Failure to process a transaction within an allotted time period

Make Sure Your Liability Coverage Is Right for You

No matter the reason for the legal action, FGIB Bankers Professional Liability insurance can help the professional fight it. And, if damages are awarded, the policy covers payment of the award up to the policy limit. In addition, the standard policy of the financial institution might have gaps that leave the banking professional vulnerable but which could be covered by a Bankers Professional Liability policy.

FGIB Bankers Professional Liability insurance can be purchased as either a standalone policy or as an extension of an existing policy. Either way, it is something that all financial professionals should consider for their own protection.

Make Sure You’re Covered for the Long Haul

Texas is the leading state of export goods in the country. That’s why it’s important for you to work closely with a Texas truck insurance agency to find the right coverage to protect you, your employees and your cargo. Trucking and transportation is a unique industry with unique business insurance needs. Here is a quick look at some industry specific coverage that you may want to consider.

1. Motor Truck Cargo

This protects you from liability should the cargo that you’re transporting become damaged or lost during transit.

2. Bobtail Coverage

Once your cargo has been delivered, you’re no longer covered under the same liability that was in effect during transport. Bobtail coverage will protect you while using the truck for mobility rather than transport.

3. Trailer Interchange

More often than not, the trucking company does not actually own the trailer used to transport its cargo. Instead, trailers are exchanged as cargo is picked up and dropped off. Trailer Interchange insurance will cover damages to trailers not owned by the trucking company.

Hauling someone else’s property can be risky business so it’s important to understand all the specific ways you can protect yourself and your business. A Texas truck insurance agency can help you navigate this world of risk and liability to help you understand what coverage is best for you.

Agents Having Success with Online Marketing

Now that consumers have become comfortable going online to learn about and shop for insurance products and services, it’s time to really step up your game. Insurers have undergone the process of increasing their online presence through their company’s Insurance Websites and understand the upside of this marketing strategy. If you are still hesitant you should check out a few simple ways to raise the visibility of your agency’s website, in ways that will hopefully give you the confidence to move forward.

Give your website a distinct look and feel

One of the easiest and most beneficial ways to distinguish your agency’s site from that of others is to use distinct and easy-to-read fonts. Making good use of promotional materials and advertisements will also help enable your visitors to differentiate between trustworthy sites, such as yours, that offer strong and healthy insurance solutions, distinguishing them from sites that lack that special professional touch.

Making proper use of your news feed

One of the best ways to gain consumer trust is to add a news feed to your website that is constantly updated, This will give it a certain authenticity to visitors and prospects, and even currently insureds will be impressed by your ability to target current, market-related news items. Stay up on all of the latest insurance news so you can share it in a timely manner.

Post free surveys on your website

Surveys are a great way to further help you to connect with those visiting your site. Many agencies have found that adding a guestbook to the site is a great way to invite feedback from visitors. Messages left in the guestbook can also be a very helpful tool for learning ways to improve your current business structure. There are systems available that allow you to receive email notifications when new comments are added giving you the ability to preview messages before they’re actually posted. This way, you’re able to weed out any inappropriate postings before they go live.

Many agencies utilize a virtual tour

Adding a virtual tour is a great way to familiarize new prospects with your business as well as present you in a professional light. By providing a series of still photos with detailed captions about individual agents first-time visitors won’t feel like they’re dealing with robots. The idea is to turn your Insurance Websites into stylized, visual web spaces, full of valuable information aimed at enticing prospects, hopefully making you a top choice for all of their insurance needs.

Take Control of Your Future

Direct the progress of your agency with a personalized agent insurance marketing strategy and you’ll set yourself up for future success. The key is getting an attainable set of products, but also have the option to expand. You’ll also need something that works with your current practices and client portfolio.


You probably don’t need enterprise-level software that costs thousands of dollars a month if you’re a free agent or you own a small business. However, it’s always nice to know you have the tools and analytics available to handle rapid expansion. After all, a marketing campaign is about growing your base and expanding operations in your target market. Be prepared to succeed by choosing a robust option.


Whether you’re just starting out online or you’re thinking about a much-needed makeover for your web presence, you want something that aligns with your past efforts and future goals. That means that you should look for companies that want to work with you and understand your specific needs. Get a web presence current clients love and potential leads appreciate by going with a professional agent insurance marketing company.

Knowledge of the industry is just a start. You need a marketing company that’s willing to understand your needs. You’ll also need a partner you can work with well into the future.