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Saving Tips for Business Insurance?

Posted by ryuzaki0 on from the things-you-can-do-to-keep-costs-down dept.

curious boss asks: "I have a question for the IT manager types out there: does anyone know how much a business can save on their annual insurance premiums by having their information security policies and procedures audited once a year? How much would an audit cost? I know those are vague questions, but if there's a rule of thumb (eg, cost per server, or cost per employee), or even pointers to getting more detailed information, that would be great."

4 of 29 comments (clear)

  1. I don't know, but... by Fished · · Score: 3, Informative

    I bet your insurance agent does.

    --
    "He who would learn astronomy, and other recondite arts, let him go elsewhere. " -- John Calvin, commenting on Genesis 1
    1. Re:I don't know, but... by Anonymous Coward · · Score: 4, Insightful

      That's a strange answer. Why would you make that wild-ass claim? Ever talked to an insurance agent that had a clue as to how the actuaries created the rate tables? For my actuary test, I've completed more than twenty times the amount of study that the ridiculously easy CPA test requires. To sell insurance you can be even more of a complete uneducated idiot than a CPA. Those idiots have no clue how us actuaries create the rate tables. That's why the morons that sell insurance make $20k or less per year plus commission, while an actuary that's passed all of the tests averages more than $193k per year.

      You really need to talk to someone that knows something about insurance. An insurance agent knows nearly nothing about the business. That's like asking the janitor at Microsoft for help programming. It's a completely idiotic statement.

    2. Re:I don't know, but... by Fished · · Score: 4, Insightful

      Uh huh. But the answer this guy needs could come straight of the table.

      --
      "He who would learn astronomy, and other recondite arts, let him go elsewhere. " -- John Calvin, commenting on Genesis 1
  2. YMMV, but... by Anonymous Coward · · Score: 3, Funny

    I hear you can save a ton of money on insurance by switching to GEICO