Many contractors that produce some type of pollutant throughout the course of daily business operations don’t know they are doing so. Others know they are producing pollutants and have processes and safeguards in place to reduce their release into the environment. A business can be held liable for some very costly damages when these byproducts…Read more
Business Growth Will Lead to Increased Risk
As the economy continues expanding, companies need to be careful about properly managing their risk, according to a report by Advisen Inc., an insurance research and data firm. Increased activity typically means proportionally additional losses. For example, more trucks driving more miles will inevitably result in more accidents. However, there are other kinds of risk…Read more
Historical Property Insurance – 7 Tips
In recent years, hordes of home buyers have been leaving the suburbs and flocking to urban historic districts throughout the nation. Not only do these home buyers want to own their very own piece of history—they also want to protect these charming old neighborhoods from destruction and modern development. If you’re attracted the charm of…Read more
Fine Art Insurance
Do you have expensive art in your home: Paintings, sculptures, glass works, textiles, ornamental jewelry and other items? But while you may have art, is it “fine art” – a one-of-a-kind work that may have some historic or artistic significance that required a specific fine skill to create, and is rare and unique. Fine art…Read more
Commercial Liability Rates Start Climbing as Lawsuits Rise
Commercial liability insurance rates are starting to edge higher after years of flat or declining rates, depending on your market. A new survey by MarketScout found that general liability, umbrella/excess and professional liability lines increased by 2% in the first quarter of 2019. Another report by insurance exchange IVANS Insurance Solutions found that rates for…Read more
Workers’ Comp Audit: What to Look For
No company owner wants to undergo a workers’ compensation audit, but they are a fact of life if you run a business and have employees. Unfortunately, many audits don’t go smoothly and sometimes your insurer may make mistakes. Missouri-based Workers’ Compensation Consultants, which helps employers through the workers’ comp audit process, recently listed the 10…Read more
Small Businesses Don’t Need Cyber Insurance
If your business has millions of excess cash and a crisis department dedicated to damage control, your business may not need Cyber insurance. If your business falls into the 95% category, and you do not have these resources, Cyber insurance is a must. Cyber attacks on companies’ information systems and data have reached unprecedented proportions,…Read more
Employment Practices Liability Insurance
Since Title VII of the Civil Rights Act of 1964 passed, the issue of employees’ rights continues to be controversial. Employers involved in interstate commerce are prohibited from discriminating against applicants. Understanding How Fast Lawsuit Risks Are Increasing As more laws are enacted for workplaces, employers face a higher risk of lawsuits. The likelihood of…Read more
Replacement Coverage for Your Commercial Property
The owners of a new company found a building on the market for an affordable price, so they bought it. Built in the 1940s to manufacture aircraft for the war effort, the metal structure had a large open space. The company occupying this space was in the software development business and the building was much…Read more
Despite Risks, Few Small Businesses Worry about Data Breaches
As the number of data breaches involving smaller businesses continues to grow, a survey by The Hartford finds 85% of small business owners said a potential breach of their own data was unlikely, and many are not implementing simple security measures to help protect their customer or employee data. “Most of the business owners surveyed…Read more
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