October 21, 2024
jdowdinsSeven Commonly Overlooked Business Insurance Policies
Business insurance is essential for keeping a company financially resilient should disaster strike. While most employers know that they should purchase basic forms of insurance, such as a commercial general liability policy, they often overlook other important types of coverage that provide valuable financial protection and peace of mind. 7 Types Of Insurance Every Business […]
October 17, 2024
jdowdinsHow To Avoid Insurance Coverage Disputes
It is often beneficial for businesses to implement strategies to avoid coverage disputes altogether. Business leaders can take the following measures to help accomplish this goal: Proactively review insurance policies. Employers and business leaders should Ensure coverage aligns with current business risks, especially after growth or operational changes. It’s crucial to seek clarifications regarding any […]
October 16, 2024
jdowdinsHow To Resolve Insurance Coverage Disputes
Disagreements can arise between businesses and insurers over what a policy covers or how much an insurer should pay on a claim, potentially leading to financial strain and operational challenges. To mitigate these risks, business leaders must understand the steps to resolve them, including alternative dispute resolution (ADR) options and litigation. Alternative Dispute Resolution (ADR) […]
October 15, 2024
jdowdinsHow To Navigate Insurance Coverage Disputes
Coverage disputes can be expensive, time-consuming, stressful and confusing. The following measures can help businesses navigate these challenges effectively: Thoroughly review insurance policies. Business leaders should carefully review their insurance policies and ensure they understand key terms, exclusions, coverage periods, premium payment timelines and other obligations. Understanding the scope of coverage and any limitations can […]
October 14, 2024
jdowdinsCommon Causes of Insurance Coverage Disputes
Insurance plays a crucial role in a business’s risk management strategy, offering financial assistance after covered losses to ensure continuity in their operations and minimize disruptions. However, disagreements can arise between businesses and insurers over what a policy covers or how much an insurer should pay on a claim, potentially leading to financial strain and […]
October 11, 2024
jdowdinsFactors That Affect Small Businesses’ Insurance Costs
Regardless of industry, your small business encounters a variety of risks in your everyday operations. These exposures can lead to significant financial losses, making it crucial to secure tailored insurance policies. However, there is no one-size-fits-all solution for all organizations; risk profiles vary widely, and several factors affect insurance costs. Understanding these influences is essential […]
September 24, 2024
jdowdinsHow to Avoid Insurance Gaps
Small businesses in all industries face numerous risks that can lead to significant financial losses. To mitigate these exposures, businesses secure insurance. Many considerations go into building an insurance portfolio; business leaders must be mindful of policy specifics, such as limits and exclusions. Failure to adequately address a business’s insurance needs can result in costly […]
September 9, 2024
jdowdinsWhat Is Employers’ Liability Insurance?
Understanding Employers’ Liability Insurance Accidents can happen in any workplace, and they often result in employee injuries and illnesses. These events can pose serious consequences for both employers and their staff. That’s why almost every state prescribes certain statutory benefits for injured and ill employees and requires organizations to have workers’ compensation insurance. The primary […]
September 6, 2024
jdowdinsHow Does Key Person Life Insurance Protect My Business?
As a small business owner, you may employ at least one individual who is essential to your company’s success. This person may be a partner or have a unique expertise that is unmatched throughout the rest of the company. If this person’s exit from the company is planned, such as retirement or voluntary termination, then […]
August 19, 2024
jdowdinsWhat Is Management Liability Insurance?
Running a business entails a multitude of responsibilities and decisions. Whether they are making strategic choices or overseeing daily operations, business leaders are exposed to numerous risks. Management liability insurance consists of a package of policies designed to cover the exposures businesses and their leaders face. It is primarily designed for privately held firms; nonprofit […]