Why startup CEOs should care about cyber security The data breach that Target suffered around Thanksgiving last year has finally worked its way up to the top of the organizational totem pole. A couple of weeks ago, Target’s CEO Gregg Steinhafel lost his job a result of the cyber security shortcomings that cost the company a ton
It’s no secret that marijuana is going mainstream in America. The size of the illegal drug market in the US is estimated at anywhere between $200 and $700 billion. The legal marijuana trade has already cracked into that number with an estimated market of $1.43 Billion in 2013 and projections hitting $2.34 billion in
At Founder Shield, we pride ourselves on getting our clients in front of underwriters immediately. But as we present our clients to underwriters for quoting, we get a lot of questions about what’s going on under the hood. To clear the air, here’s a quick and basic overview of the process and to tools
Last week we posted about the importance of Employment Practices Liability Insurance (“EPLI”) for rapidly growing startup companies. If you read that post, it should be pretty clear why there’s so much risk exposure related to employment practices. I wanted to follow up that post with a quick EPLI risk exposure checklist for startups. Here’s
We place a lot of D&O coverage for our clients because it can be vital to startups for several reasons. D&O Insurance is only one piece of the overall Management Liability puzzle. The other big piece is Employment Practices Liability Insurance (“EPLI”). This post will answer two important questions: what is EPLI insurance, and
With potentially 70 million effected by the recent Target data breach, the US government thinks it’s time to talk about the elephant in the room for the tech world: Cybersecurity protocol.
What is it? At a very high level, business interruption insurance (“BII”) protects the insured when business operations are interrupted (no, really?!). Typically this coverage is paired with others, including General Liability and Cyber Liability.
Venturebeat originally posted about this earlier this week and we thought it was an important one to be aware of. Unbeknownst to most, a new trade agreement between the Trans Pacific Parternship (the “TPP”) has been in development for almost a year now. The TPP consists of the United States, Mexico and a handful
We usually talk about key man insurance with our clients in the wake of a freshly closed round of institutional funding. Investors typically make their portfolio companies get key man insurance to protect their own cash. They realize that at most startups, the team is the company. It takes a truly phenomenal team to guide
One of the major products we provide for our clients is Directors and Officers Insurance. Admittedly 90% of our D&O clients sought us out because their investors required them to get coverage. Don’t be mistaken, though…startups need D&O insurance regardless of the investor situation.
The Question The biggest question we deal with on a daily basis: how much does insurance for startups cost? All of our clients want to know exactly what they’ll have to spend and how long it will take. They all expect an immediate answer, and can you blame them? The startup world moves at a
With the recent launch of fresh government programs under the Affordable Care Act, the landscape is changing massively in the health insurance space. We can’t help but think about what effects the new healthcare laws will have on startups.
The New CA Breach Notification Law If you’re a tech startup, your duties to protect your users’ personal information just got a bit more onerous. Last Friday (Sept 27th), Governor Jerry Brown signed a bill into law that expands the security/data breach notification requirements beyond their current spectrum.
While this list is definitely not exhaustive, I wanted to briefly shed some light on a couple of the reasons why startups need insurance and should look into coverage options regardless of where they are in their life cycle.
Cyber Liability Insurance is one of the biggest issues we deal with at Founder Shield. The vast majority of our clients are either straight tech startups or they’re leveraging technology to make their product or service scale. I think we can all agree that it’s probably impossible to run a startup these days without a