Fusco & Orsini Insurance Services

Insurance Agency in San Diego, California

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Cybersecurity: What is Spear Phishing?

Fishing remains a top U.S. pastime. Sadly, another kind of “phishing” has become popular, too.

Phishing is a type of cyber attack in which hackers disguise themselves as trusted sources online in order to acquire sensitive information. It is a common and simple scam that can put you, your employees and your business at risk. Worse yet, more resourceful criminals are resorting to a modified and more sophisticated technique called “spear phishing” in which they use personal information to pose as colleagues or other sources specific to individuals or businesses.

Have you ever received an email that almost convinced you to urgently help a friend or coworker in need? A spear phishing attack is often disguised as a message from a close friend or business partner and is more convincing than a normal phishing attempt; when messages contain personal information, they are much more difficult to identify as malicious.

The attacks are on the rise. In fact, in a report released by the Internet Crime Complaint Center, it’s stated that there were over 120,000 cyber crime-related complaints against businesses last year, resulting in over $800 million lost.

We don’t want this to be you!

Though it’s difficult to completely avoid the risk that spear phishing attacks pose, there are ways to prevent further damage to your business. Make sure your employees are aware of these simple techniques:

  • Never send financial or personal information electronically, even if you know the recipient well. It may be possible for a third party to intercept this information, especially if the recipient is later subject to a spear phishing attack.
  • Be cautious when you are asked to divulge personal information in an email. Even if it appears to be from a trusted source, it could be a hacker impersonating another person or group.
  • Only share personal information on secure websites or over the phone. When in a Web browser, you can ensure a website is secure when you see a lock icon in the URL bar, or when an “s” is present in the “https” of a URL. The “s” stands for “secure” at the end of the normal “http”.
  • Some spear-phishing schemes use telephone numbers, so be sure to never share information over the phone unless you initiate the call to a trusted number.
  • Encourage employees to think twice about what they post online. Spear phishing hackers often attain personal information through social media sites. Make sure that employees know how to keep this information private to protect their own security as well as that of your business.
  • Regularly check all online accounts and bank statements to ensure that no one has accessed them without authorization.
  • Never enter any personal or financial information into a pop-up window or a Web browser. Never click on links or open attachments from unknown sources. Even opening a file that seems familiar can give a spear phishing attacker access to personal information stored on your device.
  • Ensure that your company’s security software is up to date. Firewalls and anti-virus software can help protect against spear phishing attacks.

For a printable version of our spear phishing prevention tips, click here.

Cyber Security Planning Guide

Does cybersecurity leave you scratching your head? Grab a cup of coffee and we’ll walk you through it. We promise our easy-to-navigate guide will answer all of your questions.

First, it’s important to acknowledge that businesses of all sizes need to be proactive in order to protect themselves against growing cyber threats. As larger companies take steps to secure their systems, smaller, less secure businesses are becoming increasingly attractive targets for cybercriminals.

In our Cyber Security Planning Guide, you’ll discover action items for protecting your company’s data, website, email, mobile phones, facility and more. We’ve also included a glossary to help you understand commonly used terms like skimming, pharming, and phishing.

Please note, our planning guide is designed to help employers protect their business, information, and customers from cyber threats. This guide is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. It is generally recommended that businesses using sophisticated networks with dozens of computers consult a cybersecurity expert in addition to using this cybersecurity planning guide.

To receive a copy of your free Cyber Security Planning Guide, please complete the following form:

Complete to receive your Cyber Security Planning Guide!

If you’d like someone from our team to walk through this guide with you, please call or text: (858) 384-1506.

 

 

 

What’s Your Score? Cyber Risk Exposure Scorecard

Do your employees use their company-issued computers indefinitely without updating the password? Does your organization use cloud-based storage? If so, tune in!

In recent years, cyber attacks have emerged as one of the most significant threats facing organizations of all sizes. The Internet and other network operations have created risks that were unheard of less than a decade ago. When cyber attacks, such as data breaches and hacks occur, they can result in devastating damage, such as:

  • business disruptions
  • revenue loss
  • legal fees
  • forensic analysis
  • customer or employee notifications

It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component of any risk management program.

We encourage you to download our 20-question cyber risk exposure scorecard to understand your level of risk. If you need help completing the scorecard or if you have any questions, please don’t hesitate to call or text Ray on our team at (858) 384-1506.

Implement a Cyber Incident Response Plan

Available to Customers that Subscribe to our MyWave Connect Portal

All businesses should be concerned with data protection and plan for cyber attacks.  It’s a known fact that regardless of size, all companies are at risk of a data breach.

The implementation of a Cyber Incident Response Plan is crucial, but many business owners don’t know where to begin.  Clients of Fusco & Orsini Insurance Services that subscribe to MyWave Connect annually have access to our “Cyber Incident Response Plan Creation and Implementation Toolkit.”   The Toolkit, which is 47 pages long and provides a step-by-step guide to plan creation, may be downloaded and customized to the specific needs of each business.

How Do I Subscribe to MyWave Connect?

Contact our employee benefits, risk management and compliance consultant, Ray Ramirez,  by completing the form below.

California Legislation Introduces New Data Breach Notification Law

Many states have embraced standards that businesses must follow to safeguard personal identifying information. Often these standards include ‘Data Security Breach Notification Requirements.’ In California, the California Attorney General’s Office implements these laws.

It’s important to note that in February new legislation was introduced to strengthen California’s data breach notification law that protects consumers. The bill was created to close a loophole in the current data breach law by requiring businesses to notify consumers when passport numbers, as well as biometric information, is compromised, which was not previously required.

California Businesses Should Take Note

As a business owner, it’s crucial that you take proactive measures to protect your customer’s private information.  California Law requires individuals or businesses that own, license or maintain personal information about California to safeguard this information. It’s up to each company to implement reasonable security procedures and practices protecting their data from unauthorized access, use, destruction, modification or disclosure.  Under these laws, a business is defined as any group that is chartered, organized, or holds an authorization certificate or license or under California law or the law of any other state, the federal government or of any other country.

There are certain businesses exempt from California’s breach notification law, including:

  • Health care providers, contractors, or health care service plans regulated by the Confidentiality of Medical Information Act.
  • Financial institutions which adhere to the California Financial Information Privacy Act.
  • Businesses governed by the Health Insurance Portability and Accountability Act of 1996 (HIPAA) security and privacy rules.
  • Companies that are regulated by federal or state laws that provide greater protections to personal identifying information than what California’s breach notification laws require.
  • Entities that obtain information under an agreement authorized by the vehicle code and that are subject to the confidentiality requirements of the vehicle code.

Under the breach notification law, personal identifying information includes a person’s first name or first initial and last name in conjunction with one or more of the following:

  • A California identification card number or driver’s license number.
  • A Social Security number
  • Medical information about a person’s medical history, mental or physical condition, or diagnosis by a health care professional medical treatment.
  • An account, debit or credit card number, in combination with any required access code, password or security code that would permit access to an individual’s financial information.
  • Information or data collected by use or operation of an automated license plate recognition system. Personal identifying information may include a username or email address, along with a password or security question and answer that would permit access to an online account.
  • Health insurance information.

It’s essential you know what a breach is. Under the current law, a security system breach is the unauthorized acquisition of computerized data that jeopardizes the confidentiality, security, or integrity of the personal identifying information kept by another person or business. Ascertaining whether a breach took place under the law depends on if the affected information was encrypted or unencrypted.  To understand more about California’s data breach notification law, visit the following state resources.

California Attorney General’s Office
www.oag.ca.gov/home
Breach Reporting
The attorney general’s office offers the following guidance regarding data security breach reporting.
Business Resources
The attorney general’s office has made the following resources available to businesses.

Protecting Your Business

It’s critical to ensure the success of your business, and it’s the law that you do all you can to protect your customer’s private information. Here are some ways you can protect yourself and your customers from a data breach.

  • Safeguard Data
  • Keep Only the Information that You Need
  • Destroy Before Disposal
  • Manage Use of Portable Media
  • Keep Security Software Up-To-Date
  • Secure All Computers
  • Stop Unencrypted Data Transmission

We also recommend carrying a cyber liability policy. Cyber liability insurance is designed to help the insured recoup losses related to both first- and third-party risks associated with supplying and collecting information on the internet to.  Are you ready to discuss your business needs? Call 858-384-1506 today and chat with an insurance professional at Fusco & Orsini, who can help you create a customized cyber liability policy, tailored to your business.  And remember to ask for assistance regarding our risk management services.

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OSHA INCREASES Civil Penalty Amounts for 2019

As if OSHA penalties weren’t already drastic, the Occupational Safety and Health Administration published a final rule on 1/23/2019 that increases maximum penalty amounts for 2019.  The numbers are staggering; for most violations, the new maximum penalty amount is $13,260.  For willful or repeated violations, the updated maximum penalty amount is $132,598.

Normally, Federal law requires OSHA to increase penalty amounts by January 15 every year.  However, the federal government shutdown delayed the process in 2019.

OSHA RELEASES NEW MAXIMUM PENALTIES FOR 2019

Staggering Penalties for OSHA Violations

ACTION STEPS

First and foremost, employers should become familiar with OSHA’s new penalty amounts and review their workplace policies and procedures to ensure OSHA compliance.

Fusco & Orsini Insurance Services offers a wide range of risk management and compliance resources.  Contact Ray Ramirez for assistance with the implementation of workplace policies to avoid large OSHA penalties.

 

 

Free Training Materials for California Sexual Harassment Prevention

At Fusco & Orsini Insurance Services, we understand the importance of keeping your employees protected.

Did you know California passed a new law in September requiring sexual harassment prevention training? The law, which requires all employers with 5 or more employees to provide two hours of training, went into effect on Jan. 1, 2019.

We are happy to provide all of our California clients with free training materials via our Training360 platform. There’s a 120-minute training webinar for supervisors and a 60-minute training for non-supervisor employees. Please contact our president, mike@foagency.com, to gain access to these materials.

We also encourage you to read up on why the law changed and what to expect, by reading our sexual harassment law overview.

Want To Lower Workers’ Compensation Rates? Implement A Construction Safety Program

Companies throughout California are struggling with sticker shock as workers’ compensation insurance rates continue to skyrocket. Workers’ comp rates can be a particularly large burden to companies with a high risk of injury, like construction and manufacturing companies.

Wouldn’t you like to decrease the cost of your workers’ comp insurance? Then consider implementing a strict safety program. If safety programs were adopted in high-risk industries on a larger scale, more carriers would be willing to ensure more companies. This increase in competition would help push workers’ comp rates down. Additionally, companies following a strict safety program would experience fewer workplace injuries. Fewer injuries mean fewer claims and fewer payouts, which would allow insurance companies to lower their worker’s comp rates.

So, what would a good safety program look like?

Commitment

Most importantly, the company’s management team needs to fully commit to implementing its safety program. It doesn’t matter if your company comes up with the very best, air-tight safety program if management isn’t willing to implement it and hold themselves accountable to it.

Safety Manual

Develop a comprehensive safety manual that lays out all aspects of the safety program in a clear manner. The safety manual should include all safety rules, policies, and procedures. Distributing the manual to employees is an important step, but it’s not enough. You need to make sure the manuals aren’t just collecting dust in a desk drawer. Make sure your employees read the manual, understand it, and are committed to the objectives of the manual.

Safety Committee

A safety program has a much higher chance of working if someone or a small group is put in charge of implementing and maintaining the safety program. This is your safety committee. Depending on the size of your company, you may pick one individual or a handful of employees and task them with upholding the safety program. These individuals will be in charge of training new employees on the safety program, providing yearly refresher courses, monitoring safety throughout the business, investigating injuries or reports of unsafe conditions and making sure that the program is being followed.

First Aid Procedures

Keep first aid materials on site, including first aid kits and an AED device. We also encourage you to offer first aid training to employees or reimburse them for first aid and CPR training classes.

Accident Investigation

Accidents are inevitable in any business. When one does occur, you’ll want your safety committee to perform a full investigation to determine the causes and to make specific recommendations on how to prevent similar accidents in the future. Learning from the accidents today is the best way to prevent them from happening again tomorrow.

Keeping Records

Records are critical in determining whether or not the overall safety of your company is improving. Employees need to record safety checks and document any safety concerns or issues that they find. If an accident does occur, these records will help your safety committee figure out what happened, why it happened and how it can be prevented.

Visibility and Accountability

We recommend posting safety rules and policies in highly visible places throughout the company and to provide regular reminders and refresher training so employees keep safety needs top of mind. You might also want to implement accountability measures to help incentivize employees to follow the policies. This could include rewards when no injuries are reported for a specific length of time or strict punishments if an employee is caught ignoring the safety rules, policies, and procedures.

Fewer injuries are not only good for employees and business owners, but it could also lower expensive workers’ comp premiums if businesses throughout California commit to a safety program in the workplace.

How To Conduct An Accident Investigation In The Workplace

Workplace accidents are a big liability to businesses. Not only is it a terrible tragedy whenever an employee is injured while performing their job, but it can also have big financial consequences for your company as well. Losing a valuable employee for any length of time is expensive, and workplace accidents will also raise workers’ compensation premiums, which can cut deeply into a business’s overhead.

Unfortunately, accidents are sometimes unavoidable, especially in high-risk industries like construction and manufacturing. In our previous blog post, we encouraged all businesses to implement a strict safety program to try and prevent accidents. As part of that safety program, we advised companies to perform thorough investigations into every employee accident.

An accident investigation should not be conducted to place blame, but rather to understand the underlying causes of the accident in order to prevent similar accidents from occurring in the future.

Here are the steps you need to take to conduct a comprehensive accident investigation once an accident has occurred in the workplace:

  1. Appoint an individual to be in charge of the investigation. Depending on the size of the company and the nature of the accident, you may want to allow this individual to assemble a small investigation team.
  2. Define the scope of the investigation. The lead investigator should make clear exactly what information he or she is looking for and what the goal of the investigation is.
  3. Create a preliminary brief. The investigation team should put together an initial review of the incident, which includes a description of the accident, damage estimate, normal operating procedures, location of the accident, witness list and a description of relevant events before and after the accident.
  4. Visit and inspect the accident site. The investigation team should spend time at the accident site, looking for details that might have been missed in the preliminary brief. They should also make sure the area is secured so that nothing is disturbed while the investigation is ongoing.
  5. Interview victim(s) and witnesses. The investigation team should sit down and discuss the accident with the victim(s) and any witnesses to the accident. They will also want to interview other relevant individuals, such as those who regularly work in the accident area or who had contact with the victim before the accident. It’s useful to use a tape recorder to capture these interviews.
  6. Look for abnormal circumstances. If your company has a comprehensive safety program in place, then it is likely that the program was not being followed in its entirety when the accident occurred. When reviewing the data collected about the accident, the investigation team should be on the lookout for odd circumstances before the accident, which could have contributed to it.
  7. Determine the sequence of events. Using their notes, observation, and interviews, the investigation team should be able to determine a sequence of events and the likely cause or causes of the accident.
  8. Prepare a summary report. The investigation team should put together a report that includes all of the collected data, the sequence of events, the presumed causes of the accident and recommendations for preventing future accidents.
  9. Conduct a post-investigation briefing. The investigation team should provide the accident report to management as well as a briefing to review the report findings. The most important discussion topics will likely be the causes of the accident and prevention recommendations, which the management team can then approve for implementation.

While every accident investigation is unique, these steps will provide some basic guidance on learning how and why a workplace accident occurred so you can make your company a safer place to work in the future.

The Indirect Costs of a Workplace Accident

Workers’ compensation insurance helps insulate a company from the direct costs associated with an employee injury. For example, the company’s workers’ compensation policy will pay for medical care and will cover partial wages while the worker or workers recover.

While the direct costs of a workplace injury could manifest in increased workers’ compensation rates, companies need to be aware that they also pay indirect costs related to employee injuries and workplace accidents. In fact, studies have shown that the indirect costs of a workplace accident could be as much as 20 times higher than the direct costs. In some specialized industries, indirect costs could even be 50 times higher than direct costs.

What are some of the hidden costs of an employee injury or workplace accident?

  • Decreased labor and productivity: If you have one or several injured employees who are no longer able to work, this could create critical shortages that could slow production or bring certain departments to a standstill.
  • Lower employee morale: A bad injury at work can be distressing and traumatic, even to employees who are not injured. This could lower morale or cause distractions that lower productivity.
  • Less production: If your injured employee or employees were responsible for the production of products, you may have to deal with decreased inventory or longer wait times to sell products and collect payment
  • Damaged equipment: Damaged equipment from a workplace accident will need to be repaired or replaced. Not only will the repair or new equipment cost money, but every minute the equipment is not functioning could cost the company in productivity.
  • Disrupted schedules: Having to cover the responsibilities of an injured co-worker or try to work around a damaged piece of equipment can disrupt the schedules of your employees, leading to stress and loss in productivity.
  • Loss of customer and public goodwill: If a customer becomes aware of a workplace accident, or if their product or property was damaged, this could drastically undercut their confidence in your company. Not only is there a chance that they could fire you from the job, but in this world of Yelp and other highly public customer satisfaction websites, a negative review can hurt your chances to close future prospects
  • Hiring and training new workers: If your injured employee or employees are going to be out for an extended period of time, you might have to consider hiring a temp or bringing on a new employee or new employees. This will require time from you and your management team to interview, hire and train new employees. You’ll also have to absorb lower productivity until your new employees become proficient at their jobs.
  • Cleanup: If a workplace accident caused widespread damage, you or your employees may have to spend significant time cleaning up the damage, which will cost your company time and labor.

Just because your company has workers’ compensation insurance doesn’t mean you are insulated from the costs of a workplace accident or injury. In fact, the hidden costs of an injury are severe. The best way to avoid absorbing all the indirect costs of a workplace injury or accident is to try and prevent accidents as much as possible through the implementation of a strict workplace safety program.

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