Author Archives: INF_WP_U53r

Wow!

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Wow, 10 years!

It doesn’t seem possible that it was 10 years ago that we opened our doors as a start up agency with no clients, no carriers and yes no revenues.  Talk about a scary proposition.  My friends and collegues looked at me with skeptical smiles and that “really, are you sure look?”  I learned from Day 1 (about 3600 days ago) that it wasn’t going to be easy, romanticized or an instant success.  It was going to be hard work, long days that turn into long nights, stressful and at times crazy.  Crazier, I would do it all over again.

We have had many successes and some disappointments too but we are not finished building the INtegrity First dynasty!  We have many more long days and long nights ahead to get to where I/we want to be as an agency! To take a lyric from a favorite singer we want to be king of the hill, top of the heap A#1!

It has been a wild ride, I have said many times, “it is the most excited I have been and at the same time the most scared I have ever been.”  Kind of like raising children.  I have two so I know!  Something else I know; We would not be here for 10 years without the support of our clients.  I truly appreciate the loyalty, support and the encouragement that our clients have provided through the years.  Our clients have many choices when it comes to choosing a broker and the fact that they choose us and remain with us is very humbling.  My thanks go to each  of our clients past and present.  I look forward to serving them for another 10+ years.

Thanks again,

Don

Holiday balloons on blue sky background.

June Attorney Pro Risk Tip of the Month

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Be careful online.

Unfair or not, lawyers have to be more careful than the average person when posting online. Don’t be casual. Don’t post anything about a specific legal matter or client. Include disclaimers. Remember that the Model Rules of Professional Conduct apply to your actions online.

Tip courtesy of  www.attorneyprotective.com

Keeping Your Information Safe In the Digital Age – Part 2

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With the onslaught of data breaches that happened in 2015 (about 65,000 according to the Verizon Data Breach Investigations Report), INF presents this multi-part blog series about keeping your data safe in the digital age.

Password Management Programs

As promised in Part 1 of this series, this blog entry will cover setting up and using a password management program.  There are many good password management programs available, such as LastPass, KeePass and 1Password, and the cost of the program varies anywhere from free to around $100.  If you are like most users, you need a password management program to:

  • Create unique, strong passwords for all accounts, new and old
  • Be an easily searchable repository for all passwords
  • Remind you when to change your password
  • Keep track of the security question answers that you created

Fortunately, there are multiple free programs that fit the above criteria.  KeePass does all of the above and more.  It is free and open source, which means that there is no chance of a security issue, because there are thousands of developers that have reviewed the code.  In this article, we will cover the installation, setup and a few highlights of this program.

How to Set Up KeePass 

To download the latest version of KeePass, go to: http://keepass.info/download.html.  We recommend downloading the most recent version of the “Professional Edition”.  The download link will take you to Sourceforge, which is where the download is stored.  Save the setup file and then run it.  Select your language and accept the agreement.  Most people allow the program to be installed on the C drive.  Install the program, keep “Launch KeePass” checked and click “Finish”.

KeePass will launch, as shown below:

Image1KeePassBlank

The first thing to be done is to create a new database file that will store all of your passwords.  Go to File > New.  This will bring up a dialog box, asking you the location to save your password file.  We recommend saving it in a cloud, such as Dropbox or Microsoft OneDrive.  This way, you will be able to access your database from any device that has access to your cloud account.  Take note, the file extension will be “.kdbx”.  Name your file, then click “Save”.

This will bring up the dialog box to create the master key:

Image2MasterPassword

The master key is simply the password that you need to open the database file.  This will be the only password that you need to remember from now on, so you need to make it secure.  See Part 1 of this blog series for tips on creating a secure password.  Enter your master password twice and click “OK”.

This brings up the next dialog box, which specifies the settings for the password database:

Image3DatabaseSettings

The default settings are adequate, so no need to change them.  Press “OK” and you are done with the setup.  KeePass will be opened to your new database.

Image4EntriesInKeePass

Creating a New Entry in KeePass

To create an entry in KeePass, click the “Add Entry” button (the yellow key) or press Ctrl + I.  The “Add New Entry” dialog box will appear:

Image5AddEntry

The title field should be a description of the username and password that you are going to enter, such as “Susan’s PNC Bank Account” or “Andrew’s Chase Visa Credit Card”.  The username field should be your username, which is normally an email address.  By default, KeePass provides a 20-character alphanumeric password.  To display this password, click on the button with three dots to the right of the password field.  If you would like to change the character set or length, click on the “Generate a Password” button (it looks like a key with an orange burst) and select “Open Password Generator”.

This will open the Password Generator window:

Image6PasswordGenerator

Select the character set checkboxes that you would like the password generator to use.  You can also change the length of the password.  Once you have the settings to your liking, select “OK”.  The password will now use the settings that you selected.

The other option is to enter your own password.  You can delete the one that is generated and enter your own.  Fill in the URL field with the web address of the sign-in page that corresponds to the username and password.  You may choose to put in an expiration date for the password as well as set a reminder alarm.  Finally, if you have any notes that go with this entry, such as a security question/answer combo, you can enter it in the “Notes” section.  Once the password entry is to your liking, select “OK”.  You will now see your entry in the main right-hand window pane.

Image7TestEntries

To edit the entry, double-click on the title and the “Edit Entry” dialog box will pop up:

Image8EditEntry

Make any necessary changes and press “OK”.  To save your database, click on the “Save” button, which looks like a blue disk.  You will want to create an entry for every password that you have.

To help you organize your passwords, KeePass provides categories on the left-hand side of the main window.  Simply drag and drop your entries into the categories that they belong to.  You can also add categories, if the existing ones do not fit your needs.

Image9LefthandWindow

Using your KeePass Database

Now that you have populated your database, the next step is using it!  To open your browser to the sign in page of an entry, double-click on the “URL” field in the right-hand window pane or highlight the entry that you want to use and press Ctrl+U.

Image10URL

Your browser window should automatically open to the sign-in page corresponding to that username and password.  If the page has both the username and password fields on it, put your cursor in the username field and then go back to KeePass.  Make sure that entry is highlighted and press Ctrl+V.  This will automatically fill in the username and password in the browser.

Alternatively, if you want to enter the username and password yourself or if they are on separate pages, you may do the following:

  • Double click on the “URL” field in KeePass to open a browser to the sign-in page
  • Go back to KeePass and double click on the “Username”
  • Go back to the browser, put your cursor in the “Username” field and press Ctrl+V to paste the username
  • Go back to KeePass and double click on the “Password” field
  • Go back to the browser, put your cursor in the “Password” field and press Ctrl+V to paste the password

Please keep in mind that KeePass only keeps the fields copied for 12 seconds, so you must do the steps above fairly quickly.

Part 3 of this series will cover accessing your password database on different devices.

May Attorney Pro Risk Tip of the Month

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Avoid fee disputes.

Avoid fee disputes by explaining the fee arrangement in great detail during the first meeting. Confirm this understanding in writing and have the client agree by signing the agreement. When billing the client, ensure there is enough detail in the bill to allow the client to understand everything you are doing on their behalf. Use simple terminology and avoid abbreviations to make sure the bill is easily understood.

Tip courtesy of  www.attorneyprotective.com

Reporting A Claim Under A Claims Made and Reported Policy

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Most professionals know to protect themselves and their clients with the purchase of a professional liability insurance policy, commonly referred to as an E&O policy.  What most professionals don’t know or don’t care to know, is when and how to properly report a claim or potential claim to their insurance carrier.

Initially, the most important issue when reporting a claim is the timing of the notice to the carrier.  All carriers have different reporting requirements but most state that the claim or potential claim must be reported to the carrier in the policy period YOU first become aware of the claim or potential claim.  Some carriers are even more restrictive and will use the term “immediately report” or “as soon as possible after first becoming aware of the claim.”  No matter the wording in the policy, the timing of the notice to the carrier is absolutely vital to the claim being covered under the policy.  A delay in reporting the claim or potential claim to the carrier can lead to a declination of coverage due to “late reporting.”  Late reporting is a term no insured wants to hear in a claim situation.  Do not fall into the trap of thinking it will just go away, or hold off on reporting for fear that your premium will increase.  Providing professional services for others unfortunately will give rise to a claim or potential claim.  These must be dealt with immediately.

All carriers have slightly different policy wording with regard to the timing of claim reporting.  The best way to reduce the possibility of a declination due to late reporting is to report the claim as soon as you first become aware of the claim or potential claim.  Regardless of “how much time” the policy provides, immediate reporting of the issue to the carrier will be viewed as favorable by the carrier and the claims personnel.  It may even provide a good night sleep for you!

Keeping Your Information Safe In the Digital Age – Part 1

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With the onslaught of data breaches that have been in the news lately (think Target or Sony), INF presents this multi-part blog series about keeping your data safe in the digital age.

Passwords

Do you pick a password and then use that for all of your accounts or do you choose short passwords that are easy to remember?  Is your password “Password” or the name of your pet?  Do you keep a word document or piece of paper with all of your passwords written down?  If so, your digital information could be in trouble.  More than 60% of people use the same password on multiple accounts.  In the digital world, this means that if I can break into one account, then I can have access to all of your accounts.  This is why when a data breach happens with one retailer, fraudulent activity among other retailers goes up as well due to usernames and passwords being the same.

Most people choose their passwords from a finite set of words, phrases and numbers (or some variant of this), which makes guessing your password a trivial task for most hackers.  They use a “Dictionary Attack” on an account, which takes commonly used words from the dictionary and puts them together with numbers and other words to create a password to try.  Bear in mind, this is not a human being doing this, so multiple attempts to guess your password can be made by the second and whole attacks can last less than one minute.  Additionally, software that does this is commercially available and thus, is very easy to implement.  Once a hacker has cracked one of your accounts, they immediately target others.  In doing this, they will touch as many accounts as they can before you are alerted that anything is wrong.

How To Choose a Strong Password

In order to combat this and become a smarter user, you must create a strong, non-trivial password for each account that you have.

Choosing a strong password becomes simple once you learn the following four rules:

  1. Choose a password that is 13+ characters long
  2. Choose a password that does not contain any words in the dictionary
  3. Choose a password that has an uppercase letter, a lowercase letter, a symbol, and a number
  4. Choose a password that does not use all obvious substitutions of symbols/numbers for letters (i.e. 5 for “S” or @ for “a”)

One recommended way to create a password is to think of a phrase from a book or song that you like and turn it into a password.  As an example, if you are a fan of “Hitchhiker’s Guide to the Galaxy” by Douglas Adams, you may turn the phrase “So long and thanks for all the fish!” into the password “S81ng&Tks4@!!f!$h!”.  Notice that none of the actual words were used and not all of the substitutions were obvious, such as “8” for ‘o’.  A simple trick to remember is – the longer the password, the stronger the password.

You may be asking, “How in the world am I going to remember all of these passwords?  I must have over 90+ accounts online, like the average American!”  There is no need to remember all of the passwords that you create.  In fact, if you can remember one very strong password, you can access all of your others by using a password management program such as KeePass, 1Password or Dashlane.

Part 2 of this series will cover setting up and using a password management program.

 

WHAT IS IN MY PROFESSIONAL LIABILITY INSURANCE POLICY?

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The other day I was speaking with an attorney who had an interest in our Professional Liability Insurance programs.  So to start the process, I asked him questions regarding his current coverage.  Keep in mind, they were not tough questions:  Who is his carrier? Who is his agent? What are his limits and deductible? When is his renewal date?  All of these questions solicited the same response, “I’m not really sure”.  As crazy as that may sound, his next answer really took me by surprise.  When asked if I could review his current policy, he had no idea where his policy was or how to get a copy.  He actually asked me if I could get him a copy of his policy!

I realize that professionals are very busy people and insurance (for some) is considered BORING, but you spend a lot of money for this coverage.  You should at least take the time to know some of the basic details (at the very least, where your policy is kept).  If you do nothing else, take the time to read your policy once a year.  It shouldn’t take that long to read it and will be time well spent.  Some things to pay attention to are the obvious: carrier name, policy period, limits of liability and deductible.  Be sure to take note of any retroactive dates that apply as well as the definition of claim, the definition of insured and any and all exclusions.  You may find out that things you thought were covered aren’t and vice versa.  Bottom line is take the time to read your policy.  Know what you are paying for.

And, remember, you can always ask your agent to explain things that you don’t understand.  

Value of Broker Services for Professional Liability Insurance

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As an insurance professional for more than 25 years, It never ceases to amaze me how commoditized the professional liability insurance marketplace has become.  The coverage is not that simple but yet many professionals purchase the policy on line directly from the carrier without the assistance of a broker.  No consideration is given to policy form, prior acts coverage, limits, deductible or the many ancillary coverages available.  No value is given to the broker services.  I don’t understand this as brokers provide valuable services: policy comparisons, concise explanations, proposal/carrier options and risk management services.

As an insurance agent and the owner of a small business, I understand and can relate to cost cutting measures and getting the best “deal” possible.  I have seen clients change carriers/programs/brokers for a  $50 savings of annual premium and little or no regard to the coverage or broker services lost!  Does that make sense to you?

I don’t believe that the purchase of insurance, especially one that protects a professional’s reputation can be all about the money.  Don’t get me wrong, the money issue is very important however neglecting the coverage issue and broker services can be devastating at claim time.