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Why Cyber Insurance is a Must for Mississippi Businesses

2/25/2025

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The Critical Role of Cyber Insurance for Businesses in Mississippi
In today’s digital world, businesses of all sizes rely on technology to stay competitive and efficient. However, with that reliance comes an increased risk of cyber threats that can disrupt operations, damage reputations, and drain financial resources. The reality is, cybercrime isn’t just a big business problem—it affects Mississippi contractors, service providers, retailers, and professionals alike. That’s why having a cyber liability insurance policy is a critical piece of a well-rounded risk management strategy.
Learn more below, or check out our short Youtube video on this topic!

What is Cyber Insurance?
Cyber insurance is designed to protect businesses from the financial fallout of cyberattacks, data breaches, and other IT-related risks. Unlike general liability or property insurance, cyber liability coverage is tailored to cover digital threats that traditional policies don’t account for—such as ransomware attacks, system hacks, or compromised client data.
Many businesses don’t realize that standard commercial insurance policies exclude most cyber-related claims. That means without a cyber policy, a single data breach or phishing scam could leave your business footing the bill for recovery costs, legal fees, and regulatory fines.
Learn more about cyber liability insurance options in Mississippi here.

Why Mississippi Businesses Need Cyber Insurance
1. Financial Protection Against Cyber Attacks
Cyberattacks are costly—even for small businesses. A single ransomware attack could force you to pay thousands in recovery costs, IT repairs, legal expenses, and potential fines. A cyber liability policy helps absorb these costs so your business doesn’t take the financial hit.

2. Coverage Gaps in General Liability Policies
Many Mississippi business owners assume their general liability insurance covers cyber incidents. Unfortunately, it doesn’t. Cyber liability insurance fills that gap, covering digital threats, data breaches, and the costs of protecting sensitive information.

3. Quick Incident Response & Recovery Support
When a cyberattack happens, a fast response is critical. Most cyber insurance policies include access to expert IT forensics teams, legal professionals, and public relations specialists to help your business recover quickly—before the damage escalates.

4. Protection from Business Interruption Losses
Cyber incidents can shut down operations for days or even weeks, costing businesses tens of thousands in lost revenue. Cyber insurance helps cover these losses so you can focus on getting back to work without the financial strain.

5. Compliance with Data Protection Laws
Regulatory requirements around data security and consumer protection are getting stricter—especially for businesses that handle customer data, payment information, or medical records. Failure to comply can result in hefty fines and legal penalties. Cyber insurance helps businesses in Mississippi stay compliant while covering potential regulatory costs.
Learn more about business risk management strategies in Mississippi.

The Bottom Line: Cyber Insurance is a Business Essential
Cyber threats are becoming more sophisticated and no business is immune. Whether you run a construction firm, law office, retail store, or professional service, a cyber policy ensures that one cyber event doesn’t derail your business.
At The Granberry Agency, we help Mississippi businesses understand their cyber risks and secure tailored policies that fit their operations. Want to protect your business from cyber threats? Let’s talk.

Contact us today to learn how a cyber insurance policy can safeguard your business from financial and operational losses.

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Do You Need USL&H Insurance? Avoid Costly Workers' Comp Claims Near Water

2/19/2025

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Does your business work near water? USL&H insurance protects businesses from denied workers' comp claims. Learn more

USL&H Coverage: What You Don’t Know Can Hurt You

If your business occasionally operates near navigable waters, you may be exposed to federal workers’ compensation laws without realizing it. The United States Longshore & Harbor Workers’ Compensation Act (USL&H) extends beyond traditional maritime work and can impact contractors, electricians, painters, maintenance workers, and many other industries.

Many business owners assume that state workers’ compensation is sufficient, but a single claim can reveal dangerous coverage gaps. Without USL&H insurance, you could face lawsuits, major fines, or even personal liability.

Common Mistakes That Put Businesses at Risk:

Assuming "temporary work near water" does not require USL&H coverage.
Believing "state workers’ comp is sufficient" when maritime exposure exists.
Failing to notify an agent when bidding jobs near or on navigable waters.

How to Determine If You Need USL&H Coverage

To determine whether your business requires USL&H coverage, consider these two critical tests:
1. Situs Test (Location-Based Coverage)
USL&H applies if work is performed on, over, or adjacent to navigable waters, including:

Piers, docks, wharves, or terminals
Bulkheads, seawalls, or marine facilities
Shipyards and dry docks
Areas adjoining navigable waters where maritime work occurs

If your employees set foot in these locations for work, even temporarily, you may need USL&H coverage.

2. Status Test (Job Duties Matter)
Even if a job site is near water, an employee must be performing work related to maritime operations for USL&H to apply. The following roles often qualify:

Construction, maintenance, or repair of docks, piers, or bridges over water
Shipbuilding, ship repair, or shipbreaking
Cargo handling, loading/unloading vessels
Mechanical, electrical, or structural work supporting marine operations

If your workers perform any of these duties—even if primarily land-based—you should review your coverage with your agent.

While this discussion focuses on contractors, USL&H laws can apply to many other industries that have incidental exposure to maritime work. Any business with employees working near navigable waters should carefully assess their coverage needs.

Case Studies: How a USL&H Endorsement Can Make or Break a Claim

Many businesses assume their state workers’ compensation policy is enough—until a claim proves otherwise. These real-life cases highlight why it is critical to notify your insurance agent when working near water.
Case 1: The Carpenter Building a Pier
Case: Trotti & Thompson v. Crawford
Scenario: A carpenter was injured while constructing a pier over navigable waters. Even though he was not a maritime worker, the injury occurred on a structure over water, qualifying it under USL&H coverage.
Outcome: Paid under the USL&H endorsement because the jobsite was a maritime situs.
Takeaway: If your construction work involves docks, piers, bulkheads, or bridges over water, USL&H coverage is essential to avoid denied claims.

Case 2: The Electrician Performing Shipyard Repairs
Case: Wade v. Ingalls Shipbuilding Corp.
Scenario: A maintenance electrician was responsible for electrical repairs on cranes and equipment used in ship construction at a shipyard. The employer argued that he was not a maritime worker since he worked on equipment rather than ships.
Outcome: Paid under the USL&H endorsement because shipyards qualify as maritime situs locations.
Takeaway: Even maintenance workers in a maritime environment can fall under USL&H coverage. If your employees service cranes, heavy equipment, or infrastructure in shipyards or docks, you need USL&H coverage.

Key Takeaway: Don’t Wait Until a Claim Happens

If your work takes you near navigable waters, it is critical to ensure your insurance policy matches your exposure:

Occasionally work near water? → A USL&H endorsement may be enough.
Frequently work on piers, docks, or marine structures? → A stand-alone USL&H policy is necessary.
Assuming state workers' comp is enough? → You risk denied claims, lawsuits, and compliance penalties.

What To Do Next:

Many businesses don’t realize they have USL&H exposure until it is too late. If your work takes you anywhere near navigable waters, you need to review your policy before an injury occurs.
Contact The Granberry Agency to Review Your Coverage Today.

Call Us: 601-755-2468
Address: PO BOX 345, Sumrall, MS 39482
Email: [email protected]
Website: www.thegranberryagency.com
YouTube: Granberry Agency YouTube
LinkedIn: Granberry Agency LinkedIn

Frequently Asked Questions: USL&H Insurance

What is USL&H Insurance?
USL&H insurance covers workers near water under federal law when state workers’ comp doesn’t apply.

Do I Need USL&H if I Work Near a Pier?
Yes! Even temporary work on piers, docks, or bridges may require USL&H coverage.

What Happens If I Don’t Have USL&H Insurance?
Without USL&H, workers’ comp claims may be denied, leading to lawsuits, fines, and liability issues. By ensuring your business has the right USL&H coverage, you can:

Protect your employees from uncovered injuries.
Avoid costly lawsuits and fines.
Stay compliant with federal law.

Is The Jones Act Different From USL&H?
YES! Here is a brief comparison:

Jones Act: Applies to "seamen," defined as individuals who spend a significant portion of their employment (typically at least 30%) on a vessel in navigation and contribute to its function or mission.
USL&H: Covers land-based maritime workers, such as dockworkers, shipbuilders, and harbor construction workers, who are not considered seamen.

Don’t let one job site put your business at risk. Contact The Granberry Agency today to review your coverage.

👉 Call us at 601-755-2468 or visit www.thegranberryagency.com to request a coverage review.

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Do You Need Jones Act Coverage? A Quick Guide for Maritime Employers

2/19/2025

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Understanding the Jones Act

The Jones Act (Merchant Marine Act of 1920) protects seamen—workers who spend at least 30% of their time on a vessel in navigation—by allowing them to sue employers for negligence if injured on the job. Unlike standard workers' compensation, Jones Act claims require proving employer fault or unseaworthy vessel conditions.

Jones Act vs. USL&H: What’s the Difference?

Both the Jones Act and USL&H (United States Longshore & Harbor Workers' Compensation Act) provide maritime worker protections, but they apply to different employees:

Jones Act: Covers seamen (e.g., captains, deckhands, engineers) who actively contribute to a vessel’s mission.
USL&H: Covers land-based maritime workers (e.g., dockworkers, shipbuilders) who are not considered seamen.

Who Needs Jones Act Coverage

If your business employs seamen, you may be liable under the Jones Act. Common vessel types include:

Fishing boats
Tugboats
Barges
Offshore rigs (if floating, not fixed platforms).

📌 Fixed offshore platforms are not covered under the Jones Act—workers there fall under the Outer Continental Shelf Lands Act (OCSLA).

Key Employer Responsibilities Under the Jones Act

Maintain a seaworthy vessel—safe conditions, proper equipment, and adequate training.
Provide Maintenance & Cure—covering living expenses and medical care for injured seamen.
Ensure proper insurance coverage to mitigate costly negligence claims.

FAQ: Jones Act Coverage

Who qualifies as a seaman?
A worker who spends at least 30% of their time aboard a vessel in navigation and contributes to its mission.

Can an employee file both a Jones Act and USL&H claim?
No, a worker qualifies for one or the other, not both. Seamen fall under the Jones Act, while land-based maritime workers are covered by USL&H.

What happens if I don’t carry Jones Act coverage?
You could face lawsuits, financial penalties, and liability for negligence claims. Proper coverage protects your business.

Next Steps

Ensuring compliance with the Jones Act is not only a legal requirement but also a critical aspect of protecting your employees and business interests.

Contact The Granberry Agency Today to Review Your Jones Act Coverage.

Call Us: 601-755-2468
Address: PO BOX 345, Sumrall, MS 39482
Email: [email protected]
Website: www.thegranberryagency.com
YouTube: Granberry Agency YouTube
LinkedIn: https://www.linkedin.com/company

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Co-Insurance and Commercial Property Insurance

2/11/2025

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Understanding Coinsurance Penalties in Commercial Insurance
When it comes to commercial insurance, one of the most overlooked yet crucial aspects is understanding coinsurance penalties. Whether you own a commercial building or operate heavy construction equipment, failing to grasp how coinsurance works could lead to unexpected and costly surprises when you file a claim.

What is Coinsurance? Coinsurance is a clause found in many commercial property insurance policies. It requires you to insure your property for a certain percentage of its total replacement cost—often 80%, 90%, or even 100%. If you don’t meet that threshold, you could face a significant penalty when you file a claim.

Coinsurance Penalties on Buildings Imagine you own a building that would cost $500,000 to rebuild—this is its replacement cost. Your policy has an 80% coinsurance requirement, meaning you need to carry at least $400,000 in coverage to avoid penalties. However, your current policy only insures it for $300,000 because that’s what you paid for it when you bought it. This gap between the required coverage and the insured amount will trigger a coinsurance penalty if you ever file a claim.

How Coinsurance Penalties Are Calculated

Coinsurance Penalty Formula:
Amount You DID Carry ÷ Amount You SHOULD Have Carried = Coinsurance Penalty
In this case:

$300,000 (amount insured) ÷ $400,000 (required coverage) = 0.75 penalty factor.

Now, suppose there’s a fire and you sustain $200,000 in damages. You might expect your insurance to cover the full amount, but here’s what actually happens:

Penalty Calculation: 0.75 (penalty factor) × $200,000 (loss) = $150,000 payment from the insurance company.

That’s a $50,000 shortfall—money you’ll have to cover out of pocket. Plus, this amount is still subject to your deductible!

Coinsurance on Construction Equipment
Coinsurance doesn’t just apply to buildings; it can also affect your mobile equipment coverage, such as skid steers or bulldozers. Many contractors undervalue their equipment, insuring it for less than its replacement cost. This can lead to the same kind of penalties if something goes wrong.

For instance, you recently purchased a skid steer that costs $100,000 to replace. Your policy has an 80% coinsurance requirement, so you need to carry at least $80,000 in coverage.

However, your policy only covers it for $70,000 because you bought used. If that skid steer is damaged in an accident and you need $50,000 for repairs, you could face a coinsurance penalty.

Penalty Calculation for Equipment:

$70,000 (amount insured) ÷ $80,000 (required coverage) = 0.875 penalty factor.

Applying the penalty to your $50,000 claim: 0.875 × $50,000 = $43,750 payment from the insurer.

That’s $6,250 you’ll need to cover yourself—plus your deductible. For more information on protecting your equipment, visit our Inland Marine Insurance page.

How to Avoid Coinsurance Penalties
1.     Get an Accurate Valuation: Always insure your buildings and equipment based on their current replacement cost, not what you paid for them.
2.     Review Your Policy Regularly: Construction costs fluctuate, and so does equipment value. Make sure your coverage keeps pace.
3.     Work with a Trusted Agent: At The Granberry Agency, we help you navigate coinsurance clauses and ensure your assets are properly protected.

Final Thoughts Don’t let coinsurance penalties catch you off guard. If you’re unsure whether your current coverage meets your needs, contact us at The Granberry Agency. We’ll help you review your policies, assess your risk, and make sure you’re properly protected.
Visit our website at www.thegranberryagency.com or give us a call at 601-755-2468. Let’s envision solutions together and keep your business safe and secure.
Stay proactive, stay protected, and avoid those unexpected costs!

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Why Only Hearing from Your Insurance Agent at Renewal is a Problem—And How to Fix It

2/3/2025

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Does This Sound Familiar?You’re running a business, managing employees, and handling day-to-day operations. Then, just days before your commercial insurance renewal, your agent drops a bombshell: your premium has skyrocketed. No warning, no time to adjust—just an unexpected increase that forces you into a last-minute decision.

Unfortunately, this is the reality for many business owners. Most agents only show up when it’s time to renew, leaving you without strategic guidance throughout the policy year. At The Granberry Agency, we knew this was a problem—because we used to operate the same way. That’s why we completely redefined our approach to client servicing.

Why a Proactive Approach to Insurance MattersThe truth is, managing risk isn’t a once-a-year conversation. Your business is constantly evolving, and so are the risks that come with it. Here’s why you can’t afford to rely on a reactive insurance agent:
✅ No Time for Adjustments – If your premium jumps at renewal, last-minute changes are nearly impossible.
✅ Unidentified Risks – Without regular check-ins, hidden exposures go unnoticed until it’s too late.
✅ Missed Cost-Saving Opportunities – A proactive approach means catching errors, optimizing policies, and managing your Total Cost of Risk all year long.
So, how do you fix this problem?

Introducing The Granberry Agency’s Client Servicing MatrixWe built our Client Servicing Matrix to ensure that our clients get the attention and strategic support they need throughout the entire policy period—not just at renewal.

Here’s what makes it different:🔹 Year-Round Support: You’ll never be left in the dark. Our team works with you throughout the year to manage claims, optimize policies, and plan ahead.

🔹 Customized for Your Business: Whether you need guidance on Experience Mod Factors, Business Income Worksheets, or Workers' Comp strategies, our approach is tailored to your specific needs.
🔹 No More Last-Minute Surprises: We proactively monitor your risk, so you’re prepared for renewal--not scrambling to react.
📌 Want to see how it works? Download Our Client Servicing Matrix Here

Already a Client? You’re Covered.If you’re already working with us, there’s no action needed—you’re automatically being rolled into our Servicing Matrix at your next renewal. That means:
✔️ Regular updates and risk management check-ins
✔️ A clear plan for optimizing your policies
✔️ No more renewal headaches

If you’re not a client yet, now’s the time to experience a better way to manage your insurance.

Take Control of Your Insurance Strategy TodayTired of hearing from your agent only at renewal? Let’s change that. We’re here when you need us, not just when it’s convenient.

📌 Download the Client Servicing Matrix 👉 Click Here
📞 Let’s Talk:
📧 Email: [email protected]
📞 Call/Text: 601-755-2468
🌐 Website: www.thegranberryagency.com
📲 Connect with us on Social Media:
🔹 Facebook
🔹 LinkedIn
🔹 YouTube

Don’t wait until your next renewal to start managing your risk the right way. Let’s create a smarter, more proactive strategy today.

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The Granberry Agency, LLC Blog

Why Cyber Insurance is a Must for Mississippi Businesses

Do You Need USL&H Insurance? Avoid Costly Workers' Comp Claims Near Water

USL&H Coverage: What You Don’t Know Can Hurt You

How to Determine If You Need USL&H Coverage

Case Studies: How a USL&H Endorsement Can Make or Break a Claim

Key Takeaway: Don’t Wait Until a Claim Happens

What To Do Next:

Frequently Asked Questions: USL&H Insurance

Do You Need Jones Act Coverage? A Quick Guide for Maritime Employers

Understanding the Jones Act

Jones Act vs. USL&H: What’s the Difference?

Who Needs Jones Act Coverage

Key Employer Responsibilities Under the Jones Act

FAQ: Jones Act Coverage

Next Steps

Co-Insurance and Commercial Property Insurance

Why Only Hearing from Your Insurance Agent at Renewal is a Problem—And How to Fix It

Contact Us

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​The Granberry Agency, LLC Blog

Why Cyber Insurance is a Must for Mississippi Businesses

Do You Need USL&H Insurance? Avoid Costly Workers' Comp Claims Near Water

USL&H Coverage: What You Don’t Know Can Hurt You

How to Determine If You Need USL&H Coverage

Case Studies: How a USL&H Endorsement Can Make or Break a Claim

Key Takeaway: Don’t Wait Until a Claim Happens

What To Do Next:

Frequently Asked Questions: USL&H Insurance

Do You Need Jones Act Coverage? A Quick Guide for Maritime Employers

Understanding the Jones Act

Jones Act vs. USL&H: What’s the Difference?

Who Needs Jones Act Coverage

Key Employer Responsibilities Under the Jones Act

FAQ: Jones Act Coverage

Next Steps

Co-Insurance and Commercial Property Insurance

Why Only Hearing from Your Insurance Agent at Renewal is a Problem—And How to Fix It

Contact Us

Archives

Categories

Navigation

Connect With Us

Share This Page

Contact Us

Location

The Granberry Agency, LLC Blog