The world of insurance can be a complicated maze of initials and acronyms, which are often seemingly used to confuse the insurance buyer. Among the hodge-podge of acronyms, nicknames and “short-fors” are E & O and D & O which, when used together, have comfortably sunk into the industry lexicon as meaning anything and everything…Read more
Ransomware Is Major Threat Facing Businesses
Ransomware is turning out to be the biggest cyber threat facing companies in 2017 after attacks more than quadrupled in 2016 from the year prior, according to a new study. If you are not familiar with this fast-evolving cyber threat, typically the perpetrators will essentially lock down your database and/or computer system and make it…Read more
Builders Risk Insurance
Builders’ policies are not totally comprehensive. While specific policies vary, the vast majority of construction coverage policies are written based on a regulator-approved standard form. So for the most part, you can expect your policy to cover the buildings and structures on the property, including the systems directly installed thereto. Usually, your standard policy will…Read more
Do I Need Workers Comp Insurance?
Workers comp insurance provides coverage for medical benefits and wage replacement when an employee is injured or killed on the job. When an injured employee accepts workers’ compensation payments, he or she legally gives up the right to sue the employer later for damages or negligence. This is commonly known as the compensation bargain, and…Read more
Commercial Auto Rates
By now, you’ve likely noticed that your commercial automotive insurance rates have been increasing since last year, and for now, there seems to be no slowing the momentum. The increase is probably noticeable since the period between 2011 and 2016 saw rates drop thanks to a number of factors, including fewer accidents, fewer cars on…Read more
Insurance For Green Commercial Buildings
A study by the U.S. Green Building Council estimated that environmentally-friendly, or “green” construction, would grow at a compound annual rate of 9.5 percent between 2014 and 2019. Traditional property insurance products do not adequately cover these innovative construction methods and materials. In recent years, the insurance industry has unveiled new coverages to help cover…Read more
Cyber Crimes
Cyber crime has grown into a massive expense for businesses and organizations around the world. According to a recent report by Allianz Global Corporate & Specialty, it costs the global economy an estimated $445 billion annually. It costs the world’s four largest economies – the US, China, Japan and Germany – more than $200 billion.…Read more
Workers Compensation Experience Rating
How does safety pay dividends to the business owner? Time and resources spent on developing a culture of safety repays the business in the long run. Safety cultures rely on reducing the number of workers compensation claims, in return, the odds of a disastrous claim are reduced. Business owners with workers’ compensation experience modifications above…Read more
Errors and Omissions Insurance
Professional liability insurance funds losses caused by errors or omissions in the rendering of services. What does this mean? Professionals are human and errors do occur. In medicine and science, the client benefits from the best course of action suggested by an experienced practitioner at the time the service is rendered. The best course of…Read more
Cyber Insurance and Why Your Business Needs It
If you’re reading this blog, you’re concerned about protecting your business from cyber attacks and you should be. Cyber liability is no longer nice to have. It is a must have for businesses. Many businesses do not understand just how important cyber insurance is or why they need it. One of the most common targets…Read more
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