A majority of companies are leaving themselves exposed in one crucial area as they take on high-end professional services work. As more companies’ work is intangible, many firms are missing a critical element of protection for their professional services. Professional liability insurance in the past was mainly purchased by architects, accountants and lawyers, but with…Read more
Most Frequent Homeowners Claim
While most people are understandably concerned about insuring their homes against fire loss, that risk is not what causes the most losses for homeowners. Water damage is a more common threat that accounts for more claims than fire damage. Statistics show that one out of every five homes will experience some kind of water damage…Read more
Workers’ Comp Payroll
The owners of a California flooring installation company allegedly underreported their payroll amounts to workers’ compensation insurers to the tune of $30 million, costing the insurance company almost $4 million in premiums. The men are each facing three felony charges. These are the potential consequences for those who deliberately falsify their payroll records and reports…Read more
Dog Bites and Homeowners Insurance
There are some 63 million dogs in the U.S. and while they make for great companions and help keep our homes safe from intruders, they can also be a significant liability. About 4.5 million people suffer dog bites every year, according to the Centers for Disease Control and Prevention. Of that number, about 885,000 need…Read more
Cargo Insurance
Although you may not hear much about it on the evening news, according to the FBI, cargo theft is on the rise and represents a threat to both our economy and our national security. Over the past five years, criminals involved in this type of activity have become more sophisticated, and more violent, in their…Read more
Protect Your Business with a Business Owners Policy (BOP)
Imagine the following costly scenarios: One of your staff embezzles $80,000 from your company. A visitor to your office slips and falls after the floor has been mopped, breaking his leg. There’s a fire in your warehouse that damages half of your $2 million inventory. As a small business owner, you would likely be reeling…Read more
What is Umbrella Insurance?
Umbrella insurance is designed to protect you from liability exposures that your homeowner’s and auto insurance policies do not, as well as fill in gaps in coverage when the limits of these policies are exhausted. Lawsuits are filed daily against ordinary folks, with reasons ranging from the frivolous to the justified. More often than not,…Read more
How Much Does Flood Insurance Cost?
As we experience more extreme weather and floods increase across the country, the National Flood Insurance Program is poised to make a shift in how it prices its policies that is expected to have a drastic effect on premiums for many homeowners. The NFIP’s new premium-setting system, called Risk Rating 2.0, will change how the…Read more
New Definition of Independent Contractor
In the last month of the Trump administration, the Labor Department finalized a regulation to clarify for employers which workers are employees and which are independent contractors. Because independent contractors are typically ineligible for employee benefits, businesses have an incentive to classify workers that way. The new regulation’s purpose is to make answering the question…Read more
Car Insurance Limits – Choose Wisely
All states set minimum coverage levels for drivers, but if you are involved in a serious accident, minimal coverage may not get you off the hook for the full extent of damages. Your state’s goal is to make the required insurance affordable, but in many cases the established minimum coverage is not adequate to cover…Read more
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