Cyber risk for Businesses – Cyber incidents topped the list of risks facing businesses around the world in 2023 for the second year in a row, according to Allianz’s 2023 Risk Barometer. (more…)
A recession is a prolonged and pervasive reduction in economic activity. Generally speaking, multiple successive quarters of negative growth in gross domestic product constitute a recession.
A recession can last for several months or longer, and recovering to the nation’s previous economic peak can take years, even after a recession ends. Because a recession typically results in diminished economic output, lowered consumer demand and reduced employment overall, such a downturn can present various challenges for organizations across industry lines—especially small businesses.
Prevent Theft and Trespassing On-site
Cases of construction site theft increased in 2021 after lumber prices spiked. In one instance, $10,000 worth of plywood was stolen from a construction site, according to Vancouver police. While lumber prices have since fallen, it is still important to be aware of potential theft risks when managing work sites. There is often expensive equipment and materials at such sites that—without sufficient security measures in place—may attract criminals. (more…)
Many Canadians and economists think rising inflation, interest rates and housing costs may be warning signs of a looming recession. Unfortunately, 56 per cent of Canadians say they can’t keep pace with elevated cost-of-living trends right now, according to a survey conducted by the Angus Reid Institute.
This article explores ways to ease the financial strain on your budget and protect your savings if a recession hits. (more…)
Understanding Landlord Insurance
Renting out property can be a good way to secure additional income, but it doesn’t come without some barriers to entry. Specifically, investing in real estate and renting it out to tenants involves a type of coverage called landlord insurance, which differs from home insurance. Home insurance traditionally covers property, contents and personal liability to the resident and anyone else living in the home. On the other hand, landlord insurance covers property owners like you from financial losses at your rental establishments. It often covers the building, contents that you own on the property, liabilities that might come up from property ownership and loss of rental income. (more…)
Protecting Your Business During Civil Unrest – Civil unrest can create unique challenges for businesses. Specifically, business owners face the risk of vandalism, stolen or damaged goods and extensive property damage. With this in mind, it’s crucial to take steps to mitigate the risk of potential damages to your business during periods of civil unrest. (more…)
Cyberespionage Explained– Cyberespionage is a type of cyberattack that involves an unauthorized user (or multiple users) accessing a victim’s sensitive information in order to secure economic benefits, competitive advantages or political gain. Also known as cyberspying, the primary targets of such cyberattacks include government entities, large corporations and other competitive organizations. (more…)