Happy New Year business owners! This is the sixth edition of the Johnsonese Brokerage Technology Insurance Newsletter. The goal of our quarterly newsletter is to provide useful information about insurance to independent technology businesses .
We all know that the winter months can be a little slow. Take advantage of this downtime to let us review your insurance. We may be able to save you some money! 2012 looks to be a good year as we continue to climb out of the recession. Take full advantage of the recovery by starting the year off with cost savings!
Contact me today to schedule an appointment! |
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Small Businesses and Data Breaches |
Identify theft is the fastest growing crime in America. Still many Small and Medium-size Enterprises (SMEs) assume that they are unlikely targets of hacking simply because larger companies have more data to steal. Unfortunately, the facts don't support this assumption. In one recent survey, 73% of SMEs had experienced a cyberattack, 30% of which were "effective". The US Secret Service found that 63% of data breaches occurred at companies with fewer than 100 employees.
And these attacks can be expensive. 46 states have laws requiring notification of everyone whose personal data may have been breached. One study estimates the cost of a breach at $214 per record compromised. Multiple that figure by the number of credit card customers even a small retail store may have, and the magnitude of the problem becomes obvious.
One solution for small businesses is to work with reputable technology suppliers. In fact the figures above may help you to market to potential clients.
And insurance offers another layer of protection for both tech service providers and their end clients. For example, through the Hartford our agency offers first- and third-party liability coverage for exposures emanating from a breach. This coverage is tailored to small business and includes costs such as legal and forensic services, notification expenses, crisis management, defense, and civil awards or other settlements.
-Independent Agent, December 2011
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Nintendo, Third Party Devs Face Exercise Game Patent Lawsuit | |
Ohio-based Impulse Technology has brought a lawsuit against Nintendo and a number of third-party Wii game developers, accusing them of violating a 1996 patent on motion control technology. That patent describes a system that measures movement using sensors attached to users' limbs, with data sent wirelessly to a monitor that shows an "interactively controlled" video sequence.
The suit alleges that games including Wii Fit Plus, Grand Slam Tennis, and to other games infringe on the patent when used in conjunction with a Wii Remote and/or Balance Board. Earlier this year, Impulse brought a similar lawsuit against Microsoft and multiple Kinect game developers, citing additional patents it holds on movement tracking systems. Nintendo has previously prevailed in multiple patent lawsuits regarding the novelty and utility of the Wii Remote.
-Gamasutra, November 22, 2011
As I say often, with lawsuits even winning the case can be a hollow victory. You still could be stuck with substantial defense costs. Technology Errors & Omissions insurance could help with these costs, and potentially settlement costs if the case is lost.
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Dell Discrimination Suit Goes to Trial | |
A former Dell Inc. executive who filed a gender discrimination lawsuit against the company a year ago is scheduled to have her day in court in February. A former 11-year employee alleges that she was treated differently from male counterparts and fired in March 2009 after refusing to quit when she was demoted. The suit further alleges that Dell withheld her annual bonus because she declined to waive her rights to file a claim.
- Austin Business Journal, December 16, 2011
As the issue of the underrepresentation of women in the tech sector continues, these types of suits may increase. According to PCMag.com (April 25, 2011), only one in four technology sector employees are women, and less than 10 percent of technology startup companies are headed by women. Furthermore, only a tiny fraction of women-led startups-five percent-receives venture capital funding.
Employment Practices Liability Insurance (EPLI) can help cover the costs of employee discrimination claims.
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Northwest Suburban Chicago Agent | |
We now have an agent based in the northwest Chicago suburbs. Kate Migon is based in Kane County, and is ready to work with small businesses in Algonquin, West Dundee, Elgin, Lake in the Hills, Crystal Lake, Gilberts, Schaumburg, Hoffman Estates and beyond...
Please contact her at kate@johnsonese.com.
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AXA's Tips to Protect Your Home for Winter |
AXA, one of our insurance partners, reminds us to take necessary precautions against the potential risks of the winter season.
- Have your boiler and heating system checked by a certified professional
- Check that your home is watertight
 - Remember to have your gutters and chimney cleaned
- Ensure your smoke alarms are in good working order
- Test your central reporting fire and burglar alarms and set your alarms when away from home
- Make sure you know where the main water supply valve is just in case you experience frozen pipes this winter
- If you are away from home for any length of time, set the thermostat for the heating system at a reasonable temperature to keep your water pipes in your home from freezing
- Ask a friend or neighbor to keep an eye on your house if you take a winter vacation
- If you are hosting a party, move small, fragile items to a safe location
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The Johnsonese Brokerage can assist you with most of your art insurance needs. To get started immediately call 773.857.0242 or Email info@johnsonese.com.  Christopher Johnson
(dba Johnsonese Insurance Agency LLC in CA)
insurance for innovative organizations
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About the Johnsonese Brokerage |
The Johnsonese Brokerage LLC is a licensed and bonded independent insurance agency focused on insuring independent tech businesses.
Who we insure:
- Computer Consultants
- Computer Equipment Distributors
- Computer Maintenance and Repair
- Database Developers
- Electronics Design Consultants
- Electronics Distributors
- NEDA Members
- Network Consultants
- Manufacturers Reps
- Outsourced IT Service Providers
- Software Developers
- Software Programers
- Technology Sales & Marketing
- Technology Solopreneurs
- Technology Trade Shows
- Telecom Service Providers
- Value-Added Re-sellers
- Website Developers/ Designers
We are licensed in the states of Arizona, California (license #0H55862), Florida, Illinois, Indiana, Kentucky, Maryland, Michigan, Minnesota, Missouri, New Jersey, New York, Ohio, Pennsylvania, Texas and Wisconsin.
How are we doing? Your feedback is always welcome!
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Common Insurance Terms
1. IIABA
Independent Insurance Agents & Brokers of America is an alliance of agents who represent more than one insurance company, so that they can offer clients a wider choice of insurance coverages. Johnsonese Brokerage is a member!
2. PPC
Public Protection Class is a rating system for local fire department services. The class can impact the cost of commercial insurance; a lower number is better.
3. USPAP
Uniform Standards of Professional Appraisal Practice are guidelines of acceptable methods for conducting appraisals. It is a form of quality control for property appraisals.
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We Work with Top Global Brands!
Interbrand annually ranks the best global brands, using criteria such as financial performance and the role and presence of the brand in the global market. Three of our insurance suppliers made this year's list of top 100 global brands:
- AXA (#53),
- Allianz (#67)
- Zurich (#94)
Go Team!
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We Appreciate Referrals!
As a service business, referrals are our biggest source of new clients.
If you know of any other business needing insurance, please let us know. We promise to give them the same personal and professional service that you've come to expect from the Johnsonese Brokerage.
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Our Business Partners
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AmWins -
AXA -
Chubb -
CNA -
Hartford -
Insurance Noodle -
Markel -
Philadelphia -
Risk Placement Services
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A Dog is Not an Arsonist's Best Friend According to Best Review, an insurance industry magazine, dogs are being trained to help fire investigators find accelerant residue (think gasoline) at fire scenes. This is a big deal since arson is the cause of 25% of US fires. Labrador retrievers are typically used as arson dogs because of their tracking ability, ease of training, sociability and strong work ethic. The dogs are also used in outreach programs focused on fire prevention. |
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