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GENERAL INSURANCE SERVICES MAGAZINE FALL 2020 HOW YOUR PROFIT WORKS IN A CRISIS WITH MIKE MICHALOWICZ FROM KNOWER TO LEARNER - GUY C. PARSONS + JUST TAKE MORE PICTURES - NEIL PASRICHA NOTHING YET Your local hometown HERO Your local independent agent is your neighbor – someone you can trust and someone who’s here for you when it matters most. 219.879.4581 • GenIns.com Your local hometown HERO Your local independent agent is your neighbor – someone you can trust and someone who’s here for you when it matters most. 219.879.4581 • GenIns.com PUBLISHER Tulip Media Group Gain control MANAGING EDITOR Erika MacLeod GRAPHIC DESIGN Carmen McKay over your CONTENT COORDINATOR Stacey Cowperthwaite CONTRIBUTORS Craig Menne healthcare costs Alison Williams David Gately Nicholas T. Otis Guy C. Parsons Erik Qualman Neil Pasricha Dr. Brad Smart Mike Michalowicz Vanessa Van Edwards Shawn Hunter Mel Robbins Candace Arvin Kim Ramsey Katelyn Wisser ADVERTISING (Local) Kara Moon PHOTOGRAPHY Tulip Media Group IStock.com GENERAL INSURANCE SERVICES 421 Franklin Street, Michigan City, IN 46360 GENINS.COM General Insurance Services Risk & Business MagazineTM is published by Tulip Media Group. All content, copyright © 2020, Tulip Media Group. Healthcare out of control? Change the status quo. All rights reserved. TM EmCap® is an innovative funding strategy that puts small and Risk & Business Magazine is a valued and recognized trademark of Tulip Media Group. This publication may not be reproduced, midsize companies in charge of their own employee health all or in part, without written consent from the publisher. Every plans. 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BAH AD 2018-02 1/18 TULIP MEDIA GROUP www.BerkleyAH.com Toll Free: (877) 719-8919 [email protected] | TulipMediaGroup.com 16 feature MIKE MICHALOWICZ Welcome! HOW YOUR PROFIT WORKS IN A CRISIS LETTER FROM THE PRESIDENT CONTENTS hat a wild ride this year has been! 5 LETTER FROM THE PRESIDENT & CEO I think we can all agree that the events that have unfolded this year were not on any of 6 REMOTE WORKFORCE ATTRACTS NEW CYBER RISKS our business plans. However, 2020 has been 7 UNCERTAIN TIMES AHEAD W a great year in terms of providing perspective. 8 AVOIDING THE MISTAKE OF BEING UNDERINSURED We have all had to embrace the art of pivoting, personally and professionally. 9 TIPS FOR ACCELERATING A LEADER’S JOURNEY Guy C. Parsons When our team sat down to determine the topics we wanted to share in this issue, we knew our focus was going to be on 10 3 TECHNOLOGIES TO MAKE YOUR HOME AND KIDS looking ahead and not to the past. We did not want to dwell SMARTER on all that we’ve endured this year but rather to visualize and Erik Qualman prepare for a future of growth. We feel we have accomplished 12 “JUST TAKE MORE PICTURES” that with articles from David Gately, Candace Arvin, Mike Neil Pasricha Michalowicz, Mel Robbins, and more. 14 YOUR APPROACH TO HIRING IS ALL WRONG Ultimately, our goal in publishing this magazine has always Dr. Brad Smart been to share our knowledge with the business community in the region. It is our hope that these articles will help provide 19 7 TIPS TO MAKE EMAIL SUCK LESS Vanessa Van Edwards some direction and position your organization for a profitable future. 22 GROWTH AFTER CRISIS IS POSSIBLE Shawn Hunter It is a team effort to ensure our communities come out of this time even stronger. 24 10 QUESTIONS TO HELP YOU VISUALIZE YOUR Stay healthy, be well! FUTURE Mel Robbins 26 ’TIS THE SEASON FOR OPEN ENROLLMENT Craig Menne, President & CEO 27 THE IMPORTANCE OF BUILDING A SAFETY CULTURE GENINS.COM 28 BRIDGING THE GAP BETWEEN REMOTE AND ON-SITE EMPLOYEES 30 HOW TO DRIVE DOWN AUTO RATES WHILE INSURING A TEEN DRIVER 5 REMOTE WORKFORCE REMOTE WORKFORCE BY: ALISON WILLIAMS ATTRACTS NEW CYBER RISKS BUSINESS RISK ADVISOR, GENERAL INSURANCE SERVICES n response to the COVID-19 pandemic, likely even work on devices accessible by policies and procedures. These applications the world’s workforce saw an several people within their households. The often include questions about (i) policies unprecedented shift to remote work. result of these behaviors may be a significant and practices related to password and anti- This has provided an ideal breeding departure from the company’s cybersecurity virus protection and encryption of devices ground for both malicious cyber attacks and data privacy policies and procedures used for company business; (ii) information Iand unintentional data security incidents. as well as the representations made by the concerning the number of remote-use business to its insurance carrier. devices; (iii) restrictions on physical access Various companies have done recent to computer systems and sensitive paper research to identify the increased risks Two aspects of a typical cyber insurance records and (iv) the identity of internet associated with this sudden shift. One policy present the greatest potential gaps service providers used to access the network. study by BitSight (March 2020) saw that in insurance coverage when supporting The response to each one of these questions as the number of employees and home IP a remote workforce: (1) whether the may be materially impacted by new practices addresses associated with an organization company owns or operates the affected taken up by a company’s workforce in light rises, the diversity of threats that their network, device, and/or systems at issue in of the pandemic. devices are exposed to on the local home the incident; and (2) whether the incident network rapidly expands with it. It was stemmed from a departure from the Widespread remote working appears here to found that over 13% of companies had at company’s information security and data stay, even after the worst of the COVID-19 least one observation of malware on their privacy policies and practices, as represented pandemic subsides. Many companies, network, while 45% of companies had a in its insurance application. including GIS, have found that the transition least one observation of malware on their to remote work has not significantly One of the biggest coverage questions for work-from-home networks, making them impacted productivity, and will choose to a claim arising from remote working is 3.5 times more likely to have a malware keep at least some portion of their work whether the “network” is included within infection present. forces remote going forward. Considering the policy language. For example, an these factors, companies should revisit An article by Una A. Dean, Michael A. employee downloaded and saved some the scope of their cyber coverage through Kleinman and Jasen Fears notes that confidential company information. Now a review of potential policy issues and by most businesses will have some degree of the employee is working from home and working with their Advisor to formulate a coverage for losses associated with remote has a ransomware attack on his home customized company policy that meets their work. Afterall, even before the pandemic, computer. Now add to the scenario that the needs and operational risks. + companies made use of remote work compromised materials contain information capabilities for after-hours work, work that allows the attacker also to access the travel and other out of office needs of their company’s own network. Whether the employees without any special insuring company has coverage for such incidents Alison Williams was born and raised in agreements.