July 31, 2023
AgencyWhy Does Your Business Need Business Interruption Insurance?
The Importance of Business Interruption Insurance: Safeguarding Against Unexpected Disruptions According to the Federal Emergency Management Agency, 25% of businesses don’t reopen after a disaster. Business interruption insurance can play a key role in ensuring operations resume following a catastrophe. The National Association of Insurance Commissioners estimates that 30-40% of small business owners carry business […]
July 31, 2023
AgencyWhy Does Your Business Need Business Interruption Insurance?
The Importance of Business Interruption Insurance: Safeguarding Against Unexpected Disruptions According to the Federal Emergency Management Agency, 25% of businesses don’t reopen after a disaster. Business interruption insurance can play a key role in ensuring operations resume following a catastrophe. The National Association of Insurance Commissioners estimates that 30-40% of small business owners carry business […]
July 12, 2023
AgencyHow Does The Experience Modification Factor Affect Your Workers Comp Premiums?
Understanding the Experience Modification Factor Workers’ compensation insurance is a crucial component of protecting employees in the event of work-related injuries or illnesses. It provides medical benefits, wage replacement, and other necessary resources to injured workers while also safeguarding employers from costly lawsuits. One important aspect that plays a significant role in determining the cost […]
July 10, 2023
AgencyWhy Is Third-Party Employment Practices Liability Insurance Important?
In our increasingly litigious society, the threat of a lawsuit hangs over every business transaction, large or small. Even employers who adhere to the letter of the law at all times are likely be sued by an aggrieved employee or customer at some point. While many suits are groundless, defending against them is costly and […]
June 22, 2023
AgencyHow Contractual Risk Transfer Can Help Businesses Reduce Insurance Claims
Contractual risk transfer (CRT) is a risk management technique that allows a business to shift potential liability to another party through a noninsurance contract or agreement. This mechanism aims to transfer risk to the party that is better equipped to manage and control it. While insurance is the most common method of risk transfer, CRT […]
June 22, 2023
AgencyHow Contractual Risk Transfer Can Help Businesses Reduce Insurance Claims
Contractual risk transfer (CRT) is a risk management technique that allows a business to shift potential liability to another party through a noninsurance contract or agreement. This mechanism aims to transfer risk to the party that is better equipped to manage and control it. While insurance is the most common method of risk transfer, CRT […]
June 15, 2023
AgencyUnderstanding Management Liability Insurance
Management liability insurance is a crucial component of an organization’s insurance portfolio, as it can provide coverage for a business and its leaders. 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 […]
April 24, 2023
AgencyUnderstanding Insurance Premium Audits
Audits can be daunting for businesses. An IRS or insurance audit or a vendor needing records can be a stressful experience. However, as long as you’re prepared, there is no need to dread an insurance premium audit. This blog discusses what a premium audit is, which insurance policies commonly include premium audits, the audit process, […]
April 3, 2023
AgencyRansomware Survival Guide
Ransomware is any type of malicious software—also called malware—that infects a victim’s device or server and prevents the technology from working as it should or blocks access to certain data (e.g., confidential files or sensitive information) stored on such technology until the victim pays a ransom. Typically, the cybercriminals behind ransomware attacks demand bitcoin, a […]
March 27, 2023
AgencyGuide To Navigating Commercial Property Claims
Introduction In the event of a catastrophic commercial property loss, the process of getting your business back up and running can be overwhelming. Although infrequent, these types of claims can severely impact operations, earnings, team members and the company’s reputation. Responding to a loss can seem daunting in the moment, especially considering the first few […]