This month’s Business Bytes highlights privacy protection, pursuing insurance claims and businesses in distress.
Privacy Protection. While Illinois may have been first to enact strict privacy protections, most states, the federal government and many countries have laws or regulations regarding the collection, use, storage and sale of private and biometric information, with most providing for substantial fines and civil damages for noncompliance. Know what you collect and the risks. READ MORE.
Persistence in Pursuing Insurance Claims. Many carriers’ first response to a claim is to deny it, so don’t quit. Be persistent in pursuit and if you need help, call on your agent, broker or attorney. You paid your premiums so get your coverage. READ MORE.
Don’t Let Business Distress You. When a business is in distress owners, directors, officers and employees often act rashly, potentially causing greater losses and exposing themselves to personal liability for business losses. To avoid personal exposure when your business is in distress, stay calm and seek competent advice. READ MORE.