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 […]
August 16, 2024
jdowdinsTips for Securing Business Interruption Insurance
Business interruption insurance can make all the difference in helping organizations stay resilient amid unanticipated disasters and reduce the fallout stemming from related disruptions. Consider these best practices for purchasing and maintaining adequate business interruption insurance: Perform a risk assessment. An organization’s business interruption exposures and related coverage needs will vary based on its industry, […]
August 15, 2024
jdowdinsWhat Additional Coverages Are Available With Business Interruption Insurance?
Business income and extra expense coverage or business interruption coverage provides financial protection for certain expenses that can arise if a business is forced to pause its operations or temporarily close its doors due to direct physical damage incurred by covered perils. Business income and expense policies also offer additional coverages and extended coverages. This […]
August 14, 2024
jdowdinsWhat Is Business Income and Extra Expense Insurance Coverage?
When organizations encounter unexpected disasters, avoiding operational disruptions or temporary shutdowns may be challenging, and even brief closures can carry costly consequences. That’s where business interruption insurance can help. This policy can offer much-needed financial protection when an organization’s usual business activities are disrupted due to covered perils (e.g., fires, theft, vandalism, heavy wind and […]
July 24, 2024
jdowdinsWhat Are The Benefits Of Professional Liability Insurance
Although most service professionals prioritize taking good care of their clients and providing them with the best possible guidance, mistakes can still happen. When these errors occur, clients could face considerable harm, prompting them to hold service professionals accountable for their wrongdoings and leading to costly lawsuits. Fortunately, that’s where professional liability insurance can help. […]
July 10, 2024
jdowdinsCan A Business Insurance Claim Denied Because Of Late Notice?
The Importance of Timely Notice Under Claims-made Liability Policies Claims-made liability policies require timely notice of claims or circumstances that could lead to a claim for an insured to qualify for coverage. This allows insurers to properly investigate and respond to claims, which helps control costs and determine the legitimacy and extent of the claim. […]
June 17, 2024
jdowdinsWhat is Inland Marine Insurance?
Contrary to its name, inland marine insurance does not relate to the ocean or waterways; rather, it can help reimburse losses stemming from an organization’s products, materials and equipment getting damaged or lost due to covered perils that occur while these items are being transported over land (e.g., via van, truck or train). Such coverage […]