Rand Insurance Insights: Winter 2023

A Message From RAND Insurance: Welcome to winter and 2023! We hope this seasonal newsletter will provide you with some useful information. Thank you for giving us the privilege of servicing your insurance needs.

Key Ways to Reduce the Risk of Water Damage from Frozen Pipes

Frozen Pipe Season is Here

Winter is here along with subzero temperatures. When temperatures plummet, the risk of your pipes freezing and bursting skyrockets. In fact, burst pipes are one of the most common causes of property damage during frigid weather and can cause thousands of dollars in damage. Read more about why pipes burst, regional differences and how to prevent damage to pipes inside and outside of your home.

Here are some key ways to prevent water damage from frozen pipes from our partners at Chubb

Will Your Home Be Vacant This Winter?

Preparing your home if you are going away for the winter

If you are a snowbird that heads south for the winter, there are several key things you can do to help winterize your vacant home. Taking the right winterization steps can help protect your home from theft, water damage, heating or electrical malfunctions and other possible threats while you are away for an extended period of time.

Our partners at Travelers have developed a checklist to help protect your vacant home while you are in warmer weather this winter.

Click here for a handy checklist from our partners at Travelers

How to Protect Your Retail Business from Cyber Crime

Cyber Risk Management

Today’s digital technologies allow retail businesses to create in-store management efficiencies, and to connect online with customers around the globe. But those same technologies can make retailers vulnerable to cyber risks — risks that can fatally damage the overall health of your brand and business.

While in-store computer systems and consumer-facing websites are a boon for retailers and their customers, the data they collect and maintain — credit card numbers, personal addresses, and other types of sensitive information — makes them a target for cyber crime.

With this ever-more sophisticated and increasing cyber risk, come obligations —to your customers’ privacy and to keep up with a multitude of global and local regulations governing those obligations.

Despite the best intentions of a retail entity, cyber breaches can happen.

Here’s a primer on cyber crime from Chubb — with some tips on how retailers can mitigate that risk.

Compliments of RAND Insurance – a member of the EACCNY.