Ritman Insurance Insights

Global Cyber Attack

Posted 4:14 PM by

The latest cyber attack called WannaCry affected over 300,000 machines in 150 countries last week. Over 9,000 computers were infected per hour when the attack peaked Friday May 12th. Countries hit hardest by this cyber attack are Russia, Ukraine, India, and Taiwan. 

The ransomware used a Windows file sharing vulnerability. Essentially, the virus locks up a PC and demands a $300 ransom from the owner to unlock it. By Monday, the demand doubled to $600.
 
To date, an individual or group has not yet claimed responsibility for the attack. Government agencies around the world are diligently working to shut down the virus and catch the responsible parties.
 
Read more about the ransomware attack here:
-CNN Cyber Safe Article
-Reuters Tech News
 
Now is a good time to ensure your business has sufficient cyber liability coverage. Contact RITMAN today to review your policy or to procure a cyber liability policy to protect your assets.

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Why do you need Professional Liability Insurance?

Posted 12:31 PM by

As a boutique insurance agency, RITMAN specializes in all things property and casualty with an emphasis on professional liability insurance for lawyers. We provide insurance solutions for professionals, businesses, and individuals. You take pride in what you do. So do we. 
 
Why do you need Professional Liability Insurance?

  • Ensure your ability to make a living
  • Protecting your business and personal assets
  • To make your client whole should you or a staff member make a mistake
  • You may be required to maintain it
  • To protect your professional licenses or designations
  • Because you are not judgment proof
  • Coverage for both nuisance and legitimate claims

 
Why should you buy from RITMAN?

  • Superior product knowledge
  • Vast experience insuring lawyers and law firms
  • Access to multiple markets
  • Our passion to educate clients
  • Our involvement and commitment to serving our clients

RITMAN is licensed in Indiana, Illinois, Kentucky, Ohio, Michigan, Missouri, Kansas, Tennessee, Virginia, Wisconsin, Alabama, South Carolina, Florida, Arizona and Maryland.

If you'd like to learn more about professional liability insurance, contact RITMAN at your convenience.


 

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May 1st, 2017: Law Day

Posted 5:11 PM by
May 1, 2017 is known as Law Day.
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Cyber Crime in the form of Ransom Attacks

Posted 3:10 PM by
RITMAN Agent Adam Gwaltney focuses on legal professional liability, title agent errors & omissions liability and cyber liability insurance. Read his latest blog below regarding Cyber Crime.

 

Cyber crime in the form of ransom attacks continues to rise...no matter who you are or what your company does. Falling into a ransom attack is like walking into a minefield, it is totally indiscriminate. These attacks can cripple your business at a minimum. Recent industry reports indicate ransomware attacks increased over 200% from 2015 to 2016. And the hits keep coming. Law enforcement sources state that many of these ransom cases go paid but unreported. Current statistics from the FBI indicate that about 4,000 ransom attacks are reported daily. One can only speculate as to how many go unreported.

Ransom attacks are not only continuing to increase exponentially in number of daily attacks, they are becoming more sophisticated and for increasingly higher ransom amounts. If your company, organization or association doesn't have a data security policy in force that provides ransom coverage....you are officially behind the curve.  To quantify in dollars and cents, our agency has seen ransom attacks range from $23,000 in total costs to the business to upwards of $100,000.

How deep is your pocket?



 

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Are you protected from social engineering fraud?

Posted 4:00 AM by

Social Engineering Fraud is rampant with attacks originating from around the globe, as well as from your own back yard. Impersonation of management personnel or a client to deceive a staffer happens every single day.

Is your firm protected if an employee unknowingly provides data or financial access that could cost you thousands or even millions? Watch the following video provided by Chubb and contact us right away to review your cyber liability coverage.

 

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