The Advisor’s Corner is a resource for the community that offers insightful information into personal financial considerations and business financial issues.

The articles cover a broad range of topics, and we hope that you will find them useful in helping you to think about getting your fiscal house in order. Economic Empowerment starts at home.

What Is Cyber Insurance and Should Your Business Have It?

Does your company use electronic data? Does it store or communicate potentially sensitive information about customers, employees, or competitors? If so, then a breach of that data could cost your company plenty. Unfortunately, just about any size company or organization that retains personal information can be hit with a cyber attack. One way to transfer some of the risk and costs associated with a data breach or network security failure is through cyber insurance.

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Are There Gaps in Your Insurance Coverage?

Buying insurance is about sharing or shifting risk. For example, health insurance will cover some of the cost of medical care. Homeowners insurance will assume some of the risk of loss in the event your home is damaged or destroyed. But oftentimes we think we’re covered for specific losses when, in fact, we’re not. Here are some common coverage gaps to consider when reviewing your own insurance coverage.

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