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Cybersecurity Best Practices Navigating today’s cyber & data security landscape

Businesses in every industry are facing cyber threats with increasing frequency and severity.  It is no longer a question of if your organization will experience a cyber incident, but when.  From employment/HR data breaches to operations disruptions to wire transfer fraud and more, today’s landscape is brimming with real threats promising real and costly business impacts.

Earlier this month, our team in Nashville pulled together a group of industry experts for a panel discussion to discuss the current cybersecurity environment and best practices for businesses to prepare for and respond to potential incidents.  Continue reading

Flood Policy Changes That Will Impact the Affordable Housing Industry

FEMA has introduced the largest reform to the National Flood Insurance Program (NFIP) rating system since its inception in 1968. The NFIP program premium will now be determined by the risk assessment at individual property levels versus the current more standardized, one-size-fits-all approach. Continue reading

Have a Plan for Responding to Floods

Floods are the most common and widespread of all natural disasters, with many U.S. communities experiencing some degree of flooding after spring rains, winter snow thaws or heavy thunderstorms. Learning about this weather possibility and how to properly prepare for it can save lives and minimize damage.

Flood Characteristics

Most floods develop slowly over a period of days but flash floods are different, developing like walls of water in a matter of minutes, often due to intense storms or a dam failure. Flooding can create conditions favorable for a fire to occur, either by causing it or by impeding efforts to fight it. While electrical fires can occur for any number of reasons, including overloading of circuits and improper wiring practices, floodwater increases fire danger through short circuits in wiring and electrical equipment.  Continue reading

Mold: Impacts on the Affordable Housing Industry Risk & Insurance Considerations

Mold issues in multi-family housing can lead to many significant impacts – from remediation costs to loss of rent and, perhaps most critically, long-term health effects. Although engineering and construction practices have significantly improved in recent years, affordable housing organizations need to be vigilant around mold issues and concerns.  While insurance coverage is typically relied upon for many property-related losses, there remains a disconnect about how mold claims are often handled by the insurance industry.  Continue reading

Tips for Winter Weather Travel

Nobody ever wants to be stuck in traffic or on the side of the road.  However, a situation that is typically more of an annoyance than a safety concern can become increasingly hazardous when dealing with winter weather or freezing temperatures.

An excellent example of this is the recent traffic nightmare on I-95 which Virginia Sen. Tim Kaine referred to as “dystopian” and which left some motorists stuck on the road for over 20 hours, many with limited supplies and means to stay warm. Thankfully, emergency crews were able to provide water and means of warmth to those in need, and none of the thousands involved were seriously injured.

With the possibility of another major winter storm next week and several more months of winter travel ahead, our Personal Insurance team at Scott advises you to take a few moments to create a winter travel checklist and prepare an emergency kit.  Continue reading