As a business owner, you know that you need some type of business insurance to protect you against liability in case you’re sued over property damage, bodily injury, or other personal injury. Commercial General Liability (CGL) insurance is often the first type of coverage that business owners look at, but there are important commercial insurance…
Workers’ comp remains a top priority for employers. The challenge that brokers face is the ability to assist clients when health care costs are rising. Nonetheless, brokers will have ways to support businesses by identifying opportunities to keep premiums under control. PREMIUMS CONTINUE TO RISE Higher premiums are a result of higher claims. This is particularly…
A Commercial General Liability (CGL) policy is an important part of keeping your company protected in a variety of situations you’ll encounter over the course of doing business. But it’s also important to understand what this policy might not cover so that you can properly mitigate your risk. CGL insurance is designed to protect you…
Successful businesses run like well oiled machines but those machines can come to an alarming stop if something goes awry like a crinkle in your cash flow. Decisions such as payroll and procuring materials are absolutely critical but one often neglected item, Insurance Audits, can throw a monkey wrench in your well oiled machine which…
The purpose of insurance is to mitigate against risk. No matter how carefully structured and managed your business is, there will be exposure to risk in many ways almost daily. That exposure necessitates insurance to protect against loss, but many businesses start and end their risk management practices with insurance policies. Simply buying more insurance…
Finding the information you need to make an informed decision about your workers’ compensation insurance isn’t always easy. Most are at the mercy of their broker, who may not check the rates of every carrier offering policies for your industry. How do you know if you’re getting the best possible rate from the best possible…
Recently approved by the California State Insurance Commissioner, new reporting requirements went into effect on January 1, 2017 related to first aid and small medical only claims. Moving forward, all employers are now required to report the total cost of any claims for which medical care is provided or costs are incurred. Regardless of whether…
One of the most important but often overlooked forms of business insurance is Employment Practices Liability coverage. Designed to respond if your business is accused of wrongdoing by an employee, EPLI coverage is a standard part of most larger corporations’ coverage, but for small businesses, it’s often not included for a variety of reasons –…
Workers’ Compensation is one of the most significant expenses many businesses pay on a recurring basis. Between 0.5% and 40% of payroll can be spent insuring and protecting employees against loss and injury. So it’s understandably an issue most business owners spend a lot of time worrying about, specifically workers’ comp fraud. While the vast…
If you’ve been in business for any amount of time, you know that your insurance broker will ask a lot of questions, almost every time you speak with them. Whether it’s requesting a quote for a new policy, or reviewing your current coverage and making adjustments based on changing factors in your business – there…