2/22/2011 - Data Breach – Are You Protected?

Like we needed a new worry…the economy, the oil spill, families hunkering down and not driving to vacation spots this summer, two wars and unknown consequences of health care legislation that no one seems to understand. Now, the government has added new industries to its regulations concerning data security, and therefore subject to the government’s red flag rules. Petroleum Marketers and convenience store operators who accept credit cards are now included under these rules.

Business information theft has been an ongoing issue for years. The information superhighway is now infested with highway robbers looking for credit card numbers, social security numbers and dates of birth, anything that can be converted to a quick buck. Because of technology, geography no longer limits theft. An outside hacker, operating anywhere in the world, can access a company network, getting valuable and damaging customer information. In fact, the primary threat of data breach comes from other countries. .

The new red flag rules require you to notify all possible customers who MAY HAVE had their information seen, accessed, or in any way, compromised. The cost associated with these requirements is estimated on a national basis to be $50 per customer, including response to liability lawsuits, contact costs and remediation expenses. Want even better news? Your current insurance program most likely does not have you covered. .

What can I do to protect my business from the expense, embarrassment and loss of customer goodwill that could arise from a data breach? According to industry specialists, there are two loss control measures that can help reduce the frequency and severity of data breach exposures. First, a security audit performed by a certified computer data specialist is recommended. They will test your firewalls, your security updates and check for open access points. Second, it is recommended that you have a penetration test performed on your operation. They will actually employ a hacker to try to break into your system to test for vulnerability. Actually, your completion of these two items and having the reports on file and up to date greatly reduces your liability exposure because it shows that you have exercised a duty of care to protect your customer’s data. .

As mentioned previously, traditional insurance policies have major gaps in this area. The insurance industry has responded to this loss exposure with a developing data-breach/cyber-security liability coverage. There is no industry-standard policy form yet, and a market poll shows coverage and pricing can vary widely. Most policies begin at $2,500 minimum premium for $1,000,000 of coverage including liability, notification costs and repair/restoration. .

Risk managers recommend BOTH contracting with a data specialist to perform a security audit/pen test AND purchasing data breach insurance. The time to act is now while the cost is still relatively low. It is better to pay a little now than a lot later, a risk management lesson that can be very costly to learn the hard way.

9/3/2008 - Office Location Merger

The Nowell Agency would like to announce the merger of the Lumberton office with the Oak Grove Road location in Hattiesburg, Mississippi. The office at 2010 Oak Grove Road, will service all existing accounts for both locations and will continue to offer the same quality insurance products as it did before.

The change is effective immediately and consequently results in the closure of the Lumberton branch. The merger reflects the continued efforts by The Nowell Agency Inc. to provide the best possible service to their customers and to the community.

Please stop by our beautiful new building at 2010 Oak Grove Road to meet the additional staff that will now be available to handle all your insurance needs.

7/31/2008 - Having a Catastrophe Plan Is Important!

As the country braces for severe weather season during the spring and summer months, many people are inadequately prepared or covered for the expected damage and financial loss. Being prepared and having the right catastrophe plan in place with your insurance provider can mean the difference between financial safety and bankruptcy. A recent survey conducted by the National Association of Insurance Commissions (NAIC) shows that a lot of people do not have adequate or even the right type of coverage needed to protect themselves from specific types of losses like earthquakes, floods and even damage from water and sewer line breaks. Standard insurance policies do not cover these types of damage so consumers are advised to review their policy every year with their insurance agent to make their policy provides adequate coverage to avoid financial ruin.

The Nowell Agency offers various types of Business Insurance coverages and will work with you to match the coverages with your needs. Restaurant insurance, non-profit insurance, apartment building insurance and small business liability insurance are just some of the services available. With over 23 years of experience providing customized Business Insurance, the Nowell Agency has the knowledge and the expertise to provide the right coverage so you are financially prepared for whatever nature throws your way.

10/8/2007 - New Merger Announced

The Nowell Agency is pleased to announce a merger with the Brock-Wyman Insurance Agency in Hattiesburg, Mississippi. The office located at 2010 Oak Grove Road, Building 1, will retain all existing personnel and offer the same quality insurance products that are offered at the nine other Nowell Agency’s Mississippi locations as well as their new office in Birmingham, Alabama.

The Brock-Wyman Insurance Agency has a long and established history in Hattiesburg and a great reputation for the service provided to its customers. Under the guidance of Emmett Wyman, the agency has had strong growth. With the completion of the merger, an expanded product offering from Nationwide Insurance will be available. These products include homeowner, auto, health, business insurance, agribusiness insurance and insurance for non-profit organizations.

The change became effective on October 1, 2007 and reflects the continued efforts by the Nowell Agency to provide the best possible service to their customers.

7/12/2007 - New Merger Announced

The Nowell Agency Inc., is pleased to announce a merger with Lumberton Insurance Agency Inc. in Lumberton, Ms. The office at 809 E. Main will retain all existing personnel and offer the same quality insurance products as are offered at the Nowell Agency's eight other Mississippi locations as well as at their new office in Birmingham, Alabama.

Lumberton Insurance has a long established history in Lumberton and a great reputation for the service provided to it’s customers. Under the guidance of its late owner Hall Barrett and its current manager, Alecia Barrett, the agency has had strong growth. One of the new products offered at the new location is Nationwide insurance, which has great homeowner, auto, health, life and business programs.

The change became effective July 12, 2007 and reflects the continued efforts by The Nowell Agency Inc. to provide the best possible service to their customers and community.

1/16/2007 - New merger announced
The Nowell Agency is pleased to announce a merger with the Anderson-Walker & Coker Agency in Hattiesburg, Mississippi. The office located at 607 Corinne Street, Suite #8B will retain all existing personnel and offer the same quality insurance products as are offered at the Nowell Agency’s six other Mississippi locations as well as at their new office in Birmingham, Alabama.

The Anderson-Walker & Coker Agency has a long and established history in Hattiesburg and a great reputation for the service provided to customers. Under the guidance of Jay Walker, the agency has had strong growth including a merger with another prominent insurance agency in Hattiesburg called the Coker Agency.

The change became effective on January 1, 2007 and reflects the continued efforts by the Nowell Agency to provide the best possible service to their customers.

11/1/2006 - New Byram office now open
In an ongoing effort to provide the best possible service to their insurance customers, the Nowell Agency, Inc is pleased to announce the grand opening of their new Byram office located at 7116 Siwell Road. The groundbreaking took place on February 13, 2006 and the new facility officially opened its doors for business on October 30th.

The Byram office offers a wide variety of insurance products as do the five other Nowell Agency locations in Mississippi, including the company headquarters in Brandon. These products include a complete array of business insurance products as well as personal auto insurance, homeowners insurance, long term care insurance and Medicare supplements. The business insurance products include liability, fleet, property and workers compensation insurance.

8/2/2005 - Marty Mays Earns MSAA Designation
Mr. Martin Mays of Jackson, MS has recently completed the requirements of the national Medicare Supplement Accredited Advisor designation. As such he was awarded the professional designation of “MSAA” and accorded 2005 membership in the National Association of Medicare Supplement Advisors.

The MSAA designation is achieved by completing and passing two concentrated courses on Medicare and Medicare Supplement educational information. High ethical standards regarding consumer information in these two important areas, is the objective of the designation and national association.

As a professional Medicare Supplement Accredited Advisor, Martin Mays has demonstrated a willingness to achieve educational goals beyond normal insurance industry standards.

This proficiency is necessary at a time when the Medicare Program is, itself, undergoing great change. Consumers, more than ever, are going to require proper explanation and updates regarding existing and continuing changes in Medicare and Medicare Supplement. The MSAA designation illustrates the ability to achieve these goals for today’s retirees.

Included in the designation curriculum are a proficiency and understanding of Medicare “DRG’s” and how they affect the consumer, Medicare appeals processes, an understanding of Medicare’s $1,000 reward process, an explanation of consumer confusion regarding “Skilled Care” and its relationship to Long Term Care, and an understanding of the Home Health Care benefits of Medicare.

Changes in Medicare and Medicare Supplement offerings starting in 2006, and the addition of Medicare Part D (Prescription Drug) benefits, will require a great deal of understanding for Medicare recipients. Meeting this need is the goal of the LSAA professional and the national NAMSA association.