October is National Cybersecurity Awareness Month. During this annual event, government and industry leaders come together to raise awareness about the importance of cybersecurity.
Artificial intelligence, or AI, is transforming the insurance industry, leading the way in revolutionizing tasks that were traditionally performed by humans, such as visual perception, speech recognition, decision making, and language translation. Virtual assistants such as Alexa and Siri are familiar examples of how artificial intelligence (AI) is used in everyday life, capable of performing tasks like calling a contact, setting an alarm, or playing a song through simple voice commands. By utilizing AI in Insurance, the industry is witnessing a profound transformation, leveraging technology to meet evolving customer needs and redefine the standards of service and efficiency.
Most organizations recognize the vital role directors and officers play in steering their companies toward success. With this responsibility comes significant risk, making Directors and Officers (D&O) insurance an essential safeguard. D&O coverage comes in many shapes and sizes depending on the number of companies, boards, and activities that executives are involved in. Here, we’ll explore the key aspects of D&O insurance and discuss why personal D&O insurance is crucial, especially for those serving on multiple boards.
With bonded work on the horizon for a new or growing company, owners may be wondering how they can get started and what programs are available for these initial bond needs, especially regarding surety bonds for contractors.
DSP Insurance Services, an independent insurance agency headquartered in Schaumburg, IL, is pleased to announce the appointment of Taylor Virgil as its new President. Taylor joined the firm in 2017 and will be responsible for the overall strategy and execution of DSP’s long-term vision. Taylor is an alumnus of the Georgia Institute of Technology, where he graduated with high honors in 2009. He began his career with Lockheed Martin Aerospace and The Midtown Consulting Group. He brings to the table an extensive background in operations, management consulting, risk management and executive leadership. In addition to his work at DSP, Taylor serves on the Board of Antigua Cerveza, a production brewery he co-founded in Antigua Guatemala in 2016.
In today’s unpredictable world, ensuring the safety of your employees and colleagues has become a top priority for businesses and organizations of all sizes. One crucial aspect of workplace safety that cannot be overlooked is active shooter awareness training. In this blog post, we’ll delve into the significance and share some effective active shooter training tips, highlighting why this training is essential for both businesses and individuals.
Welcome to Cyber Awareness Month! The theme for 2023 is “It’s easy to stay safe Online.” At DSP Insurance Services, we understand the challenges that the ever-evolving digital world poses. Especially to insureds seeking to navigate this complex landscape. This month is pivotal for those looking to bolster their understanding of cyber threats and protections,
Recognizing the signs and symptoms of a heart attack or stroke is crucial for timely intervention and potentially life-saving action.
In the world of construction, navigating the financial landscape requires more than just basic accounting and banking services. Construction firms face unique challenges and opportunities, making it crucial to partner with a both a CPA firm and bank with significant construction experience. These specialized service providers understand the nuances of construction accounting and financial reporting, the allowable income recognition methods for small contractors, and the industry’s volatile nature. Here’s why these partnerships are essential for your firm’s success.
In a tightening construction market, the importance of financial planning and strategic equity retention cannot be overstated. Bonding capacity serves as a barometer for a construction company’s financial health and operational capability. Financial resources are becoming increasingly constrained due to high interest rates, increased material costs, and a tight labor market. Following a strategic financial plan is critical to maintaining a strong equity and working capital position to secure the levels of bonding capacity your business requires.