Skip to content
ASZ Risk Services Click to Text Click to Call
ASZ International, Inc.

200 Summit Lake Drive
Suite 220
Valhalla, NY 10595

Get Directions

Celebrating Cybersecurity Awareness Month: “Secure Our World”

October is here, and with it comes the 21st annual Cybersecurity Awareness Month! This year’s theme, “Secure Our World,” is a call to action for businesses everywhere to prioritize cybersecurity. In today’s digital age, safeguarding company data, protecting customers’ personal information, and ensuring employee privacy are more critical than ever.

To help businesses stay cybersecure, the Cybersecurity and Infrastructure Security Agency (CISA) and the National Cybersecurity Alliance have shared four essential strategies.

First, using strong passwords and password managers is crucial. Cybercriminals are adept at cracking simple passwords. To combat this, businesses should mandate the use of strong, unique passwords for all work-related accounts. A robust password should be at least 16 characters long, random, and unique for each account. Password managers can simplify this process by securely storing and generating passwords, making it easier for employees to maintain strong security practices.

Second, implementing multifactor authentication (MFA) adds an extra layer of security by requiring users to present two or more credentials to verify their identity. Even if one credential is compromised, unauthorized users won’t be able to access the system without the second authentication factor. Businesses should enable MFA on all sites and services that offer it to enhance their security posture.

Third, recognizing and reporting phishing attacks is essential. Phishing attacks are a common method for cybercriminals to gain access to sensitive information. Employees should be trained to recognize phishing attempts, which often use alarming language or offers that seem too good to be true. It’s crucial to report these attempts through the appropriate IT channels. If a phishing attack is suspected, businesses should immediately notify their insurance partners and relevant government authorities.

Finally, keeping software up to date is vital for closing security vulnerabilities. Businesses should ensure that all software programs are updated with the latest security patches as soon as they become available. This proactive approach helps protect the organization from potential cyberattacks.

By adopting these strategies, businesses can significantly enhance their cybersecurity measures and contribute to a safer digital world. Let’s make this Cybersecurity Awareness Month a time to “Secure Our World” and build a more resilient future for everyone.

Protecting your Business from the Rise of AI Phone Scams

Artificial intelligence (AI) has undoubtedly made life easier for millions of people, bringing everything from virtual assistants to medical diagnoses within easier reach. Unfortunately, there is a downside to AI as well: it is also used by cybercriminals to perpetrate scams and other malicious activities. One example of this is AI phone scams, which have been on the rise in recent years. These scams are harder than ever to recognize and can cause significant financial damage to businesses that fall prey to them. In this blog post, we will look at how AI phone scams work and explore why cyber insurance is a valuable tool in protecting your business from them.

AI phone scams, also known as voice phishing or vishing, are scams in which cybercriminals use AI-generated voice technology to impersonate real people or entities. They can create very convincing simulations of customer service agents, executives, and even law enforcement officers. These scams often involve social engineering, psychology-based tactics designed to trick people into giving up valuable information or making payments they shouldn’t. They have been used to trick businesses into wiring money to fake accounts, steal sensitive data, and even deploy ransomware.

AI phone scammers will often do their research ahead of time, researching a company and its employees online to learn who might be the best target. They will then place calls to these employees using spoofed numbers that appear to be legitimate. Once someone picks up, the scammers will then use psychological tactics to create a sense of urgency, fear, or confusion. They might claim to be from a critical department like IT or HR and threaten that the employee’s job is in jeopardy if they don’t act quickly.

Cyber insurance is an essential tool for any company that wants to prepare for potential AI phone scams. It is designed to help businesses recover from data breaches, cyberattacks, and other technology-related incidents that cause damage or loss. This can include the costs associated with investigating a cyber incident, notifying customers, restoring data, and more. For example, if your business falls victim to an AI phone scam that leads to a data breach, cyber insurance can help cover the costs of notifying affected individuals, providing credit monitoring services, and offering them identity theft protection.

AI phone scams pose a serious threat to businesses of all sizes. With the rise of AI technology making them even harder to detect, it’s essential to take steps to protect your assets. Cyber insurance is one of the most valuable tools in your arsenal when it comes to defending your business against these types of scams. With comprehensive coverage, you can minimize the financial and reputational damage that can come with a successful attack. By investing in cyber insurance, you demonstrate that you are taking proactive steps to defend against the latest threats, while safeguarding your reputation and business interests.

The Importance of Detecting Dirty Data in Insurance

Data is a critical component of the insurance industry, as it helps insurers make sound decisions in underwriting and claims management. However, not all data is created equal — some may be incomplete, outdated, or inaccurate, resulting in severe consequences for insurers and their policyholders. In this blog post, we’ll delve into the concept of dirty data and its implications in the insurance industry.

Dirty data can be defined as data that are inaccurate, duplicate, or incomplete, which can lead to mistakes and poor decision-making. A common example of dirty data in insurance is inaccurate customer information, such as misspelled names or wrong addresses. This can cause issues when policies need to be sent to the right person, or when a claim has to be settled at the correct address. For insurers, these errors can result in lost revenue due to missed premium payments or wrongful payouts of claims.

Another type of dirty data that can impact insurers is data that is outdated. This can occur when insurers fail to update policies with the latest coverage limits or terms in a timely manner, which can make it difficult to accurately assess risk in underwriting. Similarly, outdated data can also hinder the claims process, as it may be challenging to verify whether policyholders are still under coverage or to determine the extent of damages after an incident.

Incomplete data is yet another type of dirty data that can be detrimental to insurers. This is often the case when policyholders or claims adjusters fail to provide adequate information or documentation. For instance, if a policyholder fails to disclose all existing health conditions, it can dramatically increase the insurer’s risk exposure, leading to costly claims payouts. Likewise, if adjusters fail to provide complete documentation detailing the extent of damages in a claim, it may result in a loss of revenue for insurers or even legal action.

Understandably, insurers must take proactive measures to protect themselves against dirty data by implementing data management and quality control initiatives. This includes using automated tools, such as data quality software, to detect and correct any dirty data in their system as early as possible. Additionally, insurers can engage in regular data cleansing exercises or audits to ensure that all data in their databases are up-to-date and relevant. Lastly, insurers can provide training and resources to policyholders and adjusters to use when submitting information and documentation, thus ensuring that the data insurers receive is complete and accurate.

Dirty data is a pervasive issue in the insurance industry, and insurers must take all necessary measures to safeguard themselves against its implications. By leveraging advanced data management tools and techniques and providing training and resources to policyholders and adjusters, insurers can minimize the impact of dirty data on their business operations, improve their chances of detecting fraudulent activities, and ultimately, deliver better outcomes for policyholders. Given the significant impact of dirty data on insurers, failures to proactively address this issue can result in lost revenue, reputational damage, and legal implications. Therefore, it’s essential that all insurers take data quality seriously and integrate it into their overall business strategy.

Why Cyber Liability Insurance is Essential for Business Owners

With the increasing reliance on technology in today’s business world, cyber threats have become a major concern for businesses of all sizes. Data breaches, cyber-attacks, and other security incidents can cause significant financial losses and can damage a business’s reputation. To protect themselves, business owners should consider purchasing cyber liability insurance. In this blog post, we will explore the importance of cyber liability insurance and why it should be on every business owner’s radar.

1. What is Cyber Liability Insurance?

Cyber liability insurance is a type of insurance that provides coverage and protection against losses resulting from cyber attacks, data breaches, and other security incidents. It is designed to safeguard businesses from the financial losses that can result from these types of events. Cyber liability insurance can cover a wide range of expenses, including legal fees, notification costs, credit monitoring services, and other expenses related to the breach.

2. Why is Cyber Liability Insurance Important?

Data breaches and security incidents can happen to any business, regardless of their size or industry. Cyber liability insurance is important for businesses because it provides protection that can help mitigate the financial losses that can result from these types of events. Without insurance, businesses could potentially face significant financial losses that could jeopardize their ability to continue operating.

3. What Does Cyber Liability Insurance Cover?

Cyber liability insurance can cover a range of expenses related to a cyber-attack or data breach. Some of the common expenses covered by cyber liability insurance include legal fees, notification costs, credit monitoring services, and other expenses related to the breach. Cyber liability insurance can also provide coverage for damages resulting from lost or damaged data, cyber extortion, and cyber-terrorism.

4. How to Choose the Right Cyber Liability Insurance

When choosing a cyber liability insurance policy, it’s important to consider the specific needs of your business. Factors to consider include the size of the business, the industry you operate in, the types of data you handle, and the potential financial impact of a cyber-attack. Working with an experienced insurance agent can help you select the right policy that will provide adequate protection for your business.

5. Conclusion

In today’s world, cyber-attacks and data breaches can have devastating consequences for businesses. To protect themselves from financial losses and other risks associated with these types of events, business owners should consider purchasing cyber liability insurance. With the right policy in place, businesses can have peace of mind knowing that they are protected against the financial impact of a cyber-attack or data breach.

Tips on Avoiding Wire Fraud

The number of wire fraud cases is on the increase globally, and this includes within the insurance industry. As a reminder of best practices for reducing the likelihood that you will be victimized by this type of crime, we share the following information.

When it comes to wire fraud, prevention is key. To help protect yourself and your business, take the following steps:

-Ensure that all employees who handle wires are properly trained on how to spot red flags and identify fraudulent activity.

-Implement dual approval procedures for all wire transfers, so that no single individual has sole control over the process.

-Verify the wiring instructions with the intended recipient by telephone or in-person before sending any money. Do not rely on email communications alone.

-Never send wires in response to unsolicited requests, even if they appear to be from someone you know and trust. If you are unsure about a request, confirm it with the person directly before taking any action.

By following these simple steps, you can help protect yourself and your business from wire fraud. If you have any questions or concerns, please contact your insurance agent or broker. Thank you for your time and attention to this important issue.

Catastrophic Events

We are officially in hurricane season, and along with hurricanes also come disasters like flooding, severe storms, and even wildfires. Informing our clients on how to be prepared for events like this, through purchasing the right coverage, is something we strive to do. Though it may not seem like something that could happen to you and your home, you never know when a storm may blow through. According to Asta (2022), in 2021 there were 18 weather and climate disasters in which damages were around $1 billion or more.


Something important that all homeowners should know is that your homeowner’s policy might cover many natural disasters such as hail, windstorms, and lightning, but what it likely does not cover is floods, earthquakes, and/or tsunamis (Asta, 2022). Flood insurance is coverage we always suggest to our customers, as we feel it is very beneficial. We’re also able to provide standalone wind coverage. For our clients who live in coastal areas, this policy provides coverage for damage from hail and wind, regardless of whether the damage is from a named storm or an everyday storm (Orchid).


Now, although flood and wind coverage is something all homeowners should look into purchasing, it’s also an important thing for business owners to consider as well. Catastrophic events don’t just affect homes, they destroy anything in their path. As a business owner, you want to make sure you plan in advance by making educated choices on what insurance coverage you really need (Asta, 2022).


One final way you can help protect your home, business, family, and employees from catastrophic events is to have a plan of action. If a disaster does strike, your family members and employees should know the procedure. For example, where to take shelter in the event of a tornado, where the fire extinguisher and emergency exits are located, or where to meet if everyone must evacuate the premises (Asta, 2022).


If you don’t already have flood or wind coverage, give us a call today so we can get you a fast and easy quote!

References:
Asta, Donna (March 1, 2022) Planning for the Future with Catastrophic Insurance. Big I Independent Agent. https://www.iamagazine.com/magazine/issues/2022/march/planning-for-the-future-with-catastrophic-insurance
Orchid. www.orchidinsurance.com. Accessed July 5, 2022.

Getting a Personal Insurance Quote

So, now that you have a little background knowledge on insurance, such as why it’s important to have, and which type of agent you should work with, it’s time to start thinking about getting insurance quotes. Before you start calling around to different agencies, you should first know what types of insurance you’re looking for. If you own a house, apartment, or condo, you will need homeowners’ insurance. If you rent a house, apartment, or condo you’ll need renters’/tenants’ insurance. If you own a vehicle or motorcycle, you’ll need car or motorcycle insurance. The list goes on…so take a minute to stop and think about the major things you own, rent or lease. If you’re still unsure of what coverage you need, plan to have a conversation with the agent you speak with, they can help guide you.

Next, do some research about agencies near you. Google and social media can be a good place to start. Once you find an agency, you may want to review their website and look over reviews. Once you’re ready to call, you may want to start by asking which specific carriers the agency works with. The more carriers, the more opportunity the agent will have to find you the best quote for your needs.

Many agencies will ask you questions like your first and last name, your date of birth, driver’s license number (if you’re looking for auto insurance), your marital status, and who your current carrier is. Here at ASZ International, we ask that you provide us with your declaration pages. This simply outlines the coverage you have in place right now, so we can make sure that when we look into a new policy for you, we are not giving you anything less. If you don’t want us to know how much your current premium is, we totally understand that, feel free to cross it out on your paperwork.


Now the tedious part is over. Your agent will begin to look into quotes for you. Again, if you work through an independent agent, they will plug your information into a comparative rater which will populate many different options. This is beneficial to you as it will allow you to compare coverage apples to apples with more than one carrier.

If you’re ready to start looking into quotes, download our app by clicking here and then following the on-screen instructions. We would be more than happy to assist you in finding the right coverage for you and your family!

Independent Agents vs Captive Agents

When looking for insurance, it can be incredibly stressful trying to decide which provider is right for you and your family. The entire process can be overwhelming, from narrowing down a provider, to getting the right coverage you need, and of course trying to stay within an affordable budget. Many people do not even know where to begin, and if that’s how you feel, don’t worry, you’re not alone.

This is where insurance agents come into play. First, let’s go over the difference between a captive insurance agent versus an independent insurance agent. A captive insurance agent is contracted to work for one insurance company and can only sell that one specific company’s policy (West Bend, n.d.). For example, if you reach out to a Nationwide insurance agent, they would only be able to get you quotes with Nationwide. Whereas an independent insurance agent is contracted to work with a variety of insurance companies and can sell policies from multiple providers (West Bend, n.d.). For example, if you reach out to us here at ASZ International, Inc., we can get you quotes from many different carriers like Nationwide, Lemonade, Erie, Travelers, and more, and then we compare them, apples to apples for you. This way you know exactly what each company has to offer, and it allows you to make a more educated decision on which policy is absolutely right for you.

Working with an independent insurance agent, in our opinion, is much more beneficial. Not only does your agent have the ability to go to different carriers who sometimes vary in the coverage they provide, but they can also shop around for you to see where they can get you the right coverage at the most affordable price. Another benefit is that when it comes time for your renewal, your agent will keep an eye out to see if they can get you a cheaper rate with another carrier. If they can, they’ll switch your coverage over and continue to be your assigned rep. Which leads me to another benefit of working with an independent insurance agency, not having to wait on hold or talk to a 1-800 representative. Instead, you get to call a real person, who is there to support, educate, and guide you throughout the whole process.

Here at ASZ International, that is exactly the kind of people we strive to be. We are here to work with you and for you. We don’t work for any specific insurance company, that’s not our job. Our job is to help you, the policy holder.



Reference:
West Bend. (n.d.) Does Your Insurance Agent Have Your Best Interests At Heart? The Silver Lining. https://www.thesilverlining.com/common-topics/independent-agents-versus-captive-agents

The Basics and Benefits of Insurance

Let’s talk about insurance, and why it’s so important. Do you own a home, apartment, vehicle, or any type of personal belongings? If you do, then you want to make sure those things are protected in case of a loss. When you buy insurance, you’re transferring the cost of a potential loss or accident to the insurance company in exchange for a fee. You’re buying yourself protection at a fraction of the price of what it would cost to get back those belongings. If you suffer a loss that is covered by your policy and you file a claim, insurance is there to help you pay for that loss based on the terms of your policy (Grange Insurance, n.d.).

Insurance not only provides protection against theft and damage from perils like fire and water, but it also protects you from the financial responsibility that could result from a visitor or guest being accidentally injured on your property. In a nutshell, insurance is very important. Though it is something you hope you never have to use, because nobody wants something bad to happen to them, it is something that you don’t want to be without if you end up suffering a loss.

So how does insurance work? When you purchase insurance, you are known as the policyholder. When multiple policyholders purchase insurance with the same insurance company/carrier, the insurance company uses the money collected from the policyholders and other investments, to pay for its operations and claims made by its policyholders (Grange Insurance, n.d.). So when you buy insurance, the payments you make are in exchange for being covered from certain risks (Araujo, 2021).

Next, we’ll dive into how to choose the right insurance provider for you and your family.


References:
Araujo, Mila. (2021, July 12). Get the Basics to Learn How Insurance Works. The Balance. https://www.thebalance.com/basics-to-help-you-understand-how-insurance-works-4783595


Grange Insurance. (n.d.). What is insurance and why is it important? The Grange Guide to Insurance. https://www.grangeinsurance.com/tips/what-is-insurance-why-is-it-important


  • Abacus
  • Aetna
  • AIG
  • American Modern Insurance
  • AmTrust
  • American Modern Insurance
  • Attune
  • biBerk
  • Chubb
  • Cigna
  • Citizens
  • CNA
  • Coterie
  • Cowbell Cyber
  • CV Starr
  • Employers
  • Erie
  • Fast Comp
  • Flood Risk Solutions
  • Foremost
  • Foremost Star
  • Great American
  • Guard
  • Hagerty
  • Hanover
  • Hiscox
  • Jewelers Mutual
  • JIBNA
  • K&K
  • Lemonade
  • Liberty Mutual
  • MetLife
  • Nationwide
  • Neptune Flood
  • AIG
  • NYSIF
  • Onust
  • Openly
  • OpenTrack
  • Prime Insurance Company
  • Progressive
  • Pure Insurance
  • RLI
  • Safeco
  • Selective Insurance
  • ShelterPoint
  • Standard Security
  • The Hartford
  • Thimble
  • Travelers
  • US Assure
  • USLI
  • V3ins.com
  • Zurich

Servicing States

  • Servicing All 50 States

Today's Insurance News

quote-icon Comparing Quotes - Made Simple

Compare your unique insurance quotes
online via our comparative quoting form.

Get Started Today!

Get A Quote!