Risk Control

No one wants to experience an accident or loss — especially one that could be avoided. Our risk control consultants can help your customers protect their business risks — employees, property, and operations. Our practical recommendations can help keep their businesses running safely and smoothly.

Cyber crime’s on the rise. Take steps to protect your agency

Did you know that insurance has become one of the most targeted sectors for cyber-criminal activity? Hackers are targeting the personal and financial data that passes through online quoting and rating systems – and the credentials you use to log in to those systems are a common starting point for these attacks.

 

What you need to do

The best way to reduce the impact of credentials theft is to reset your password regularly – at minimum every 90 days, and immediately after a staff member leaves your agency. Other tactics recommended by the Big “I” for safeguarding data on the systems your agency uses:
• Avoid sharing passwords among staff as this increases the risk and impact of a data breach.
• Never use the same user ID and password for multiple systems.
• Safeguard your user IDs and passwords – and never post them where they can be seen, such as on sticky notes or in spreadsheets.
• Learn about common social engineering ploys – methods hackers use to gain your trust and compromise the security of your systems.

 

What we’re doing

Earlier this year, we required agencies to reset their passwords for our systems – something we’ll continue to require periodically.

 

In the next few months, we’ll also be rolling out multi-factor authentication for agency log-ins – a security feature that should make our systems much more secure. Note that all agency log-ins will require multi-factor authentication by the end of 2021.

 

Multi-factor authentication will make it challenging to share IDs and passwords, so we’re strongly advising agencies to create unique credentials for their staff and update them regularly. To obtain your agency access code and create unique IDs for staff, visit the User Report screen (Agency Administration tab > Manage Portal Users) on the Agents’ Portal.

Did you know that insurance has become one of the most targeted sectors for cyber-criminal activity? Hackers are targeting the personal and financial data that passes through online quoting and rating systems – and the credentials you use to log in to those systems are a common starting point for these attacks.   What you…

Improving the auto signed forms request process

Process changes are coming for small commercial auto policy request forms. These changes will collectively add up to a smoother, quicker process of receiving the signed forms your clients require. More importantly, they will minimize risk and allow us to more accurately and competitively rate our products. You and your clients and prospects will reap the benefits! So what’s changing?

 

  • This process will affect new business and endorsements.
  • The current 30 calendar-day deadline for returning policyholder selection/rejection/acknowledgement signed forms for UM/UIM is reducing to 15 business days. Now, you will have 10 business days to respond to form requests, then five more business days after a second request is issued. After that, if a signed form is not obtained, we will update to the required limits.
  • Shortening this timeline means minimizing the opportunities for uninsured accidents to happen while we wait for forms to arrive.
  • Notifications about form requests will be clearer about deadlines and next steps if they aren’t met.
  • Requests for signed forms will be coming from LMEndorsements@LibertyMutual.com

 

This updated process goes into effect on April 12, 2021, for Liberty Mutual small commercial auto policies.

Process changes are coming for small commercial auto policy request forms. These changes will collectively add up to a smoother, quicker process of receiving the signed forms your clients require. More importantly, they will minimize risk and allow us to more accurately and competitively rate our products. You and your clients and prospects will reap…

Quoting a BOP in eCLIQ® Simple™? Add cyber!

Cyberattacks are on the rise, so you want to make sure you’re taking every opportunity to help clients protect themselves.

 

Now you have a new way to do that: adding cyber coverage when quoting a BOP in eCLIQ<sup>®</sup>Simple™*. You’ll need to select the coverage when creating a quote – it’s not included automatically (check out our handy how-to).

 

Need help promoting the importance of cybersecurity to your clients? Discover our trove of cyber resources.

*BOP is not live in eCLIQ Simple for AK, CA, FL, HI, KY, ME, NH, NY, RI and VT, but agents in these states can write BOPs in eCLIQ Simple for clients in all other states.

Cyberattacks are on the rise, so you want to make sure you’re taking every opportunity to help clients protect themselves.   Now you have a new way to do that: adding cyber coverage when quoting a BOP in eCLIQ<sup>®</sup>Simple™*. You’ll need to select the coverage when creating a quote – it’s not included automatically (check…

Cybersecurity risks are skyrocketing

Cyberattacks pose a serious threat to small businesses, which typically have limited resources to prevent and recover from a data breach. Two-thirds of small businesses have experienced an attack in the past 12 months1 – with an average cost per stolen record of $1462.

 

Amid COVID-19, the problem has only worsened. Cybersecurity experts are seeing up to 4,000 attacks a day – a 300% increase from what they were pre-pandemic3.

 

For National Cybersecurity Awareness Month, attend our 20-minute coffee break to learn more about the growing risk of cyberattacks, common mistakes businesses make, examples of exposures and more. Talk to your small business clients about protecting their online assets and share these cybersecurity resources.

12019 Global State of Cybersecurity in Small and Medium-Sized Businesses, Ponemon Institute, sponsored by Keeper Security, Inc.
2Cost of a Data Breach Report 2020, Ponemon Institute, sponsored by IBM Security.
<sup>3</sup>FBI sees spike in cyber-crime reports during coronavirus pandemic, The Hill, April 16, 2020.

Cyberattacks pose a serious threat to small businesses, which typically have limited resources to prevent and recover from a data breach. Two-thirds of small businesses have experienced an attack in the past 12 months1 – with an average cost per stolen record of $1462.   Amid COVID-19, the problem has only worsened. Cybersecurity experts are…

An important layer of protection for farm

Excess liability isn’t just for catastrophes or large-scale operations – it provides added protection for many types of losses that farms and agribusinesses of all sizes may experience.

 

Share this brochure with your clients to help them better understand how an excess liability policy can further protect the farms they’ve worked so hard to grow, without breaking the bank.

 

And remember – for every farm policy you quote and issue in eCLIQ<sup>®</sup>through Sept. 30, 2020, you’ll receive two Instant Incentives™ spins, putting up to $100 in your pocket*.

*For participating agencies only.
 Farm is not available in AK, CT, DE, FL, HI, LA, MA, ME, NH, NJ, NY, RI and VT.

Excess liability isn’t just for catastrophes or large-scale operations – it provides added protection for many types of losses that farms and agribusinesses of all sizes may experience.   Share this brochure with your clients to help them better understand how an excess liability policy can further protect the farms they’ve worked so hard to…

Wildfires are on the rise

Wildfires are on the rise across many parts of the country — and the season is starting earlier and ending later each year. It’s never too early for you and your clients to take steps to minimize losses before the next one strikes.

 

Download and share our action plan. It has important information that can help secure property and protect lives.

Wildfires are on the rise across many parts of the country — and the season is starting earlier and ending later each year. It’s never too early for you and your clients to take steps to minimize losses before the next one strikes.   Download and share our action plan. It has important information that…

Water, the new fire in commercial construction

Representing 24% of total incurred losses from 2014 to 2018*, water damage has become a key driver of builder’s risk claims. From installing water flow alarms to caging sprinkler heads, policyholders have various tactics at their disposal to mitigate the risk of water damage. It all starts with a wet work program – something we can help your clients create.

 

Share our water damage infographic with your clients to help them understand the principal causes of water losses and how to address them.

*Insurance Services Office, Inc. 2019

Representing 24% of total incurred losses from 2014 to 2018*, water damage has become a key driver of builder’s risk claims. From installing water flow alarms to caging sprinkler heads, policyholders have various tactics at their disposal to mitigate the risk of water damage. It all starts with a wet work program – something we…

Risk control services to share with your clients

Today’s changing business environment amidst COVID-19 has impacted small businesses across the country. As sections of the country slowly reinstate parts of the workforce, you can help ensure the safety of your clients’ workers, their projects and the public by sharing Liberty Mutual’s risk control resources and services with them.

 

Liberty Mutual SafetyNet™ is a one-stop online destination for safety tools, training and resources to help improve workplace safety, reduce the cost of risk and follow nationally recognized standards.

 

In addition, clients can contact the Risk Control Consulting Center, where our expert consultants are able to answer questions about safety and risk control, provide advanced technical guidance and offer a wide array of solutions to help them minimize loss.

Today’s changing business environment amidst COVID-19 has impacted small businesses across the country. As sections of the country slowly reinstate parts of the workforce, you can help ensure the safety of your clients’ workers, their projects and the public by sharing Liberty Mutual’s risk control resources and services with them.   Liberty Mutual SafetyNet™ is…

Builder’s risk: Protecting the jobsite

As our communities respond to COVID-19, many construction jobsites are becoming vulnerable to theft, vandalism, fire and water damage. Help your builder’s risk clients protect their jobsites during this time by going over simple safety tips and best practices with them. Don’t forget to ask them about the progress of each of their projects, as it may influence what steps they take to protect their property!

 

For the latest updates and resources, visit our COVID-19 page on Helping You Succeed.

As our communities respond to COVID-19, many construction jobsites are becoming vulnerable to theft, vandalism, fire and water damage. Help your builder’s risk clients protect their jobsites during this time by going over simple safety tips and best practices with them. Don’t forget to ask them about the progress of each of their projects, as…

Commercial umbrella rates are trending up

For the first time in years, escalating losses and lawsuits have combined to max out coverage limits on liability policies and increase rates for those with commercial umbrella policies. Additionally, due to inflation, policy limits set at $1 million in 1985 may no longer be enough to cover large claims — especially those that take years to settle.

 

Get familiar with the trends that contribute to the recent rate hikes, then share our Ways to Help Reduce Hazards and Costs guide with your clients.

For the first time in years, escalating losses and lawsuits have combined to max out coverage limits on liability policies and increase rates for those with commercial umbrella policies. Additionally, due to inflation, policy limits set at $1 million in 1985 may no longer be enough to cover large claims — especially those that take…

Hurricane season is upon us

According to the National Weather Service, the 2020 hurricane and tropical storm season starts May 15 in the Pacific Region and June 1 in the Atlantic Region of the United States. Advance preparation can help minimize losses due to a catastrophic event. Share our sample action plan with your clients to help them protect their customers, employees and livelihood.

According to the National Weather Service, the 2020 hurricane and tropical storm season starts May 15 in the Pacific Region and June 1 in the Atlantic Region of the United States. Advance preparation can help minimize losses due to a catastrophic event. Share our sample action plan with your clients to help them protect their…

Tornado and hail storms: A growing threat

During the past five years, losses due to wind and hail averaged about $15 billion annually; and they’re increasing each year. Wind, tornado and hail storms are growing in intensity and impacting more areas of the country. To help protect your clients’ business as well as your own, it’s important to have safety measures in place before, during and after a storm. View and share our tornado and hail sample action plans.

During the past five years, losses due to wind and hail averaged about $15 billion annually; and they’re increasing each year. Wind, tornado and hail storms are growing in intensity and impacting more areas of the country. To help protect your clients’ business as well as your own, it’s important to have safety measures in…