Metro Articles


Summer Newsletter


Nathan Smith Thursday, July 24, 2014



Metro successfully writes an upwards of $200k-in-Premium Work Comp Policy for a brand new client!


CONGRATULATIONS TOM!

Metro Insurance is proud to announce it's placement of a very successful engineering business with a highly-competitive, A-rated work comp carrier. The premium, at upwards of $200k, saved the client tens of thousands of dollars and has alleviated stress from their risk management team. We look forward to building on this partnership and helping them grow with our business.


"Hard work, dedication & talent pay off…."



Despite numerous contenders, Metro rose victorious as the President, CFO and in-house attorney selected Metro’s proposal this week. The company, which specializes in remanufacturing engineering components, has nearly 40 employees in high risk jobs. Working with our team of professionals, we developed an extensive and customized risk retention plan along with a highly specialized unbeatable proposal from one of the nation’s strongest carriers. Winning such business is the culmination of Metro team work, years of experience in our ever-changing industry and the result of the unbeatable relationships with our carrier underwriters.

We believe we have a better insurance solution for you and can exceed your expectations just like we did for our new client above. All we ask for is the opportunity to prove it to you....please contact us and we won’t just talk the talk – but we’ll show you just how effective we can be for you…we look forward to hearing from you!









Privacy and Data Security Exposures a Real Threat in Today's World.

As our society moves more and more towards a technology-infused future, the risks of everyday businesses being threatened by hackers, lost data, or stolen hardware is becoming a very important component of our insurance solutions. Metro has seen sharp increases in the need and interest in such coverage and we'd like to share an article below we found that provides important facts that may help you decide if this coverage is something you need to keep a close watch on.



From xlgroup.com, "PRIVACY AND DATA SECURITY EXPOSURES OF SMALL AND MID-SIZED COMPANIES" - December 2013

Almost every company will eventually have important data lost or
stolen, whether the result of an attack by a hacker, a lost memory
stick or smartphone, or a stolen laptop. How well prepared a
company is to deal with such a situation could mean the difference
between a bump along the business highway or a bankruptcy-threatening
calamity.


Owners and managers of small and midsize businesses (SMBs) often
dismiss the threat of data breaches. That is unfortunate since they are
increasingly vulnerable to having data lost or stolen. SMBs, in fact, have
become a favorite target of hackers. Organized crime views smaller companies as high-reward and low-risk targets. According
to Verizon’s 2012 Data Breach Investigations Report, the focus on small companies is an
outcome of “industrialized” attacks that can be carried out against large numbers of targets
with little resistance from the victims. Smaller businesses are typically less sophisticated in
their defenses and therefore are ideal targets for such raids. “Thus, the number of victims in
this category continues to swell,” according to the report.

During the first six months of 2012, more than a third of targeted attacks on businesses were
directed toward companies with fewer than 250 employees, according to security vendor
Symantec. That was double the percentage of attacks aimed at similar sized companies
at the end of 2011.3 Visa reports an even more alarming statistic: 85 percent of all data
breaches occur at the small business level. Trustwave, an internet security firm, claims
that 92 percent of credit card data compromises take place in small businesses with low
processing volume.


A data breach can be devastating for any company, but it can be especially so for a small
company. While costs vary by the type of data involved and other factors, an often-cited figure
from the Ponemon Institute is an average of $194 per record. Organizations having their
first data breach spend on average $37 more per record than companies that had previously
experienced a breach.


The probability of a data breach – potentially with dire consequences – increases daily for
SMBs. Most SMB owners and managers, however, continue to believe that data security is
a large company problem, and many do not take even rudimentary steps to keep their data
safe. However, even basic data security measures could deter a breach since cybercriminals
know that there are so many other unprotected targets available to them. Although most SMBs can do much more to protect their data, even the most diligent
company can have a breach incident. Being prepared to respond to a breach can mean
the difference between quickly gaining control of the situation with minimal financial and
reputational damage, and helplessly watch events spiral out of control. Insurance is an
important tool to assure that SMBs not only have protection against financial loss, but that
they also have the resources to take charge of a breach situation and minimize its impact.



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