Yearly Archive2020

Brokers and Agents

Professional Insurance for Brokers and Agents

When you work in the insurance industry, you occupy a position of trust, just like in other financial services. Like those other financial professions, the decision-makers who ultimately take responsibility for the coverage paperwork by writing policies and closing deals wind up taking risks because of the liabilities they take on with regard to their clients. Insurance agent E&O is a bit different from what you’d see in the real estate or stock investment communities, but it does cover a wide range of similar mistakes and omissions, and it does provide similar protection against financial losses associated with liability for a client’s losses due to mistakes or intentional omissions.

What Exactly Does an Insurance E&O Policy Cover?

Confidentiality and information handling regulations are more stringent than ever, so modern E&O policies include provisions that cover you in the event of HIPAA violations, as well as longer-standing issues like insolvency, coverage for actions undertaken by independent contractors working on your behalf, and other common industry risks. That includes innocent insured coverage, too. For more specifics, you really need to talk to an agent who specializes in quoting E&O policies to other insurance professionals, because the exact coverage and cost is determined by your business risk profile, and as you know, that’s something it takes time to work up because it’s different for every business every year.

Operating a Cemetery

The Unique Risks of Operating a Cemetery

Operating a cemetery is a very practical decision. Death is a part of life and the funeral industry is one that sees consistent business. Naturally, there are also many unique risks that come along with running this type of establishment. In order to provide exceptional service to individuals who are already going through a difficult experience, you need to make sure all of your bases are covered with your insurance plan. Explore these tips to get a better feel for what to expect.

Insurance That Meets Your Needs

There are a few factors to consider when looking into cemetery coverage. For one, you need to think about the specific risks that you encounter on a routine basis. Some graveyards are the targets of individuals with nothing better to do, meaning gravestones and other memorial markers might be vandalized or damaged. Should this happen, handling the costs of the damage may fall on you. Additionally, the region in which your cemetery is located should be taken into account. The weather and climate can create risks that need to be addressed. Other points to remember include:

  • Wildlife and invasive species
  • Coverage for crematories
  • Industry-specific options like MemorialPro

Provide Yourself Peace of Mind

By taking out comprehensive insurance for your business, you can do what’s best for your future and your clients. Take time to research the basics and understand what will help your cemetery stay protected.

BOP Insurance Policies

Why Small Business Owners Are Choosing BOP Insurance Policies

One thing that every small business owner learns right away is that all businesses need insurance. One costly setback or major expense can mean serious problems if not covered by the appropriate policy. One way that business owners choose to protect themselves from a variety of costly scenarios is by selecting a business owners’ package.

What’s in the Box?

When you opt for BOP insurance coverage, you can rest assured that your business is protected under a wide variety of circumstances, because you know that you’re getting all of the insurance you need in one place and at one time. Rather than having to shop around and cobble together the policies needed to protect their investment, busy entrepreneurs can choose a single bundle under one premium and move on to turn their attention to the things that they’re passionate about.

Got Coverage?

Did a customer slip in your store, and decide to sue? Your general liability insurance can cover that as part of your BOP insurance policy. Did a freak hailstorm damage your storefront? Property insurance is included too, along with business interruption insurance if you have to close for a time.

The benefit of BOP insurance is allowing hardworking business owners to breathe easier at the end of the day, knowing that these packages of policies are protecting them if something goes wrong.

Supermarkets VS Convenience Stores

Supermarkets VS Convenience Stores: What Insurance Policies Do You Need?

Your store is an important part of your community. It only makes sense that you would prioritize protecting your assets from unforeseen circumstances. Whether you have a grocery store or a convenience store, you still need insurance.

What separates a convenience store from a supermarket, and does it change the type of policy that you need?

Supermarkets Versus Convenience Stores

Supermarkets and convenience stores are similar. The big difference is that convenience stores tend to have a more limited supply of products. They tend to be smaller stores, some of which have a 24-hour schedule. A supermarket does have similar risks when compared to a convenience store.

Both have to worry about theft, vandalism and injuries. Supermarkets simply tend to have more employees, more assets and may have different levels of risk.

Supermarket and Convenience Store Coverages

No matter what type of store you own, you will need similar insurance coverage. When working with an insurance agent, you can customize your options for your particular business.  If you need a supermarketing insurance policy, it might look very similar to the convenience store policy. Some coverages you need include:

All stores have their own needs for business insurance, so you must choose coverages based on your store.

Boatyard Insurance

The Most Important Types of Boatyard Insurance Your Facility Needs

Every boat owner knows that insurance is the best way to protect their boat on the water, but what happens when the boat is in storage? As a boatyard manager, the best thing you can do is invest in comprehensive insurance to protect your facility and your clients’ vessels every day. So, what types of coverage do you need?

The Must-Have Boatyard Insurance Types

The exact types of boatyard insurance that you’ll need will depend on the type of facility you run. However, most boatyards can benefit from these common coverage options:

  • Protection and indemnity insurance
  • Pollution coverage
  • Marine general liability insurance
  • Cargo insurance
  • Hull and machinery coverage
  • Docked vessel liability coverage

These are just a few of the coverage types you’ll need when running a successful boatyard. Keep in mind that every situation is unique. You’ll want to choose coverage that protects your business and your clients.

What To Look For

When searching for coverage, pay attention to the limits each policy and coverage types have. You’ll need to choose a comprehensive boatyard insurance plan that provides enough protection for your needs. Choosing coverage with small limits means you’ll have to pay more out of pocket every time you file a claim.

Every boatyard is different, but they all need high-quality insurance. Look for these types of coverage and your facility will be safe at all times.

Staffing Insurance for Nursing

Key Facts About Staffing Insurance for Nursing

If you run a medical staffing firm and specialize in providing healthcare facilities with qualified personnel, you may be wondering whether you need staffing insurance for nursing. While it might seem like an extra expense, staffing insurance is essential to protect your company in case of injuries and accidents, damage, liability claims, and more. Here are a few key facts to keep in mind as you search for the right coverage for your firm.

Coverage Can Be Tailored

No matter what your medical staffing firm needs, you can find an insurance program tailored to your situation. Coverage may include:

  • Workers’ compensation
  • General and professional liability
  • Cyber liability
  • Third-party crime
  • Regulatory audit insurance coverage

While you can purchase a broad package, you may want to look for a carrier that can customize your coverage.

Protect All Your Assets

When purchasing insurance, it can be easy to overlook potential liabilities. Be sure that the package you decide on covers all of your assets, including finances, personnel, and company property.

Running a medical staffing firm can involve a lot of moving parts, so getting staffing insurance for nursing is key to protecting yourself in case of claims. Whether you provide medical personnel on a permanent or temporary basis, these key facts can help you find the right insurance coverage for your needs.

Grocery Stores

How Grocery Stores Can Manage Risk

Managing a grocery store requires outstanding service, great staffing, and comprehensive risk management. In order to protect your grocery store against liability and loss, you need to develop conservative practices and strategic safeguards. Comprehensive commercial insurance should be an integral part of your store’s risk management plan.

Choose the Right Level of Coverage

Grocery liability insurance should be a core part of your store’s operating budget and risk management strategy. It’s important that you structure your insurance to contain adequate coverage levels as well as affordable deductibles. Supplementing your insurance with umbrella coverage can give you an added layer of protection in the event that you have to contend with a sizable claim.

Incorporate Essential Elements of Coverage

While general liability and property insurance are certainly among the most important components of commercial policy for a grocery store, you may also need to consider additional forms of coverage. Workers’ compensation, auto insurance, and liquor liability policies can offer targeted risk management.

Get Expert Assistance

It’s advisable to work with an insurance company that has a longstanding tradition of serving clients in the grocery industry. In addition to providing you with competitive rates, it can impart valuable insight towards building effective risk management plans. An outstanding provider will offer guidance about accident prevention, loss prevention, and workplace safety.

Coverage For Cemeteries

Insurance Coverage For Cemeteries

Operating a cemetery requires careful attention to the condition of the premises. In addition to holding services, cemeteries are a place that many people will visit regularly to remember a loved one. Being responsible for any type of area that is accessed by the general public can give rise to liability concerns, and a cemetery is no exception. Cemetery managers need to safeguard their operations with comprehensive insurance.

Why Is Insurance Necessary for a Cemetery?

Owners or operators of a cemetery could face legal claims in the event that there is an incident on the premises that leads to an injury or damage to a person’s property. Cemeteries often encompass considerable square footage. Even when the grounds are meticulously maintained, any number of accidents could happen. For example, an unsafe condition that causes someone to trip and fall. Cemetery insurance can help address these types of liability claims.

What Benefits Are Available?

Coverage benefits for liability claims may include legal costs, a damages award, or a settlement agreement. In addition, supplementary insurance benefits are available to compensate a cemetery for several types of damage to a cemetery’s premises or its assets:

  •       Damaged equipment
  •       Broken fences
  •       Fallen tree removal

For help with cemetery insurance coverage, it’s advisable to reach out to an insurance company that has experience serving cemetery operators.

 

Employee Theft

How Employee Theft Can Create Significant Losses

When business owners think about the possibility of theft, their first thoughts don’t generally involve their own employees. However, employee theft can be among the most serious and substantive.

Theft Can Go Undetected for a Long Time

Employees are in a unique position to be able to steal from a business because they have been entrusted with access to products, supplies, and even funds. Moreover, they may be able to conceal their theft rather effectively. Employees may have the opportunity to repeatedly steal from a business over an extended period of time before anyone else becomes aware of it.

Employees Can Use Their Position to Steal From Third Parties

In some instances, theft could be committed against a third party who a business works with or a client who it serves. In addition to having lost revenue, a business could be liable to the party from whom the employee has stolen.

Businesses Need to Safeguard Themselves Against Dishonesty

Virtually every type of business needs a strategy aimed at preventing and addressing internal loss. Employee theft protection through crime insurance can compensate a business for losses resulting from theft.

Reach out to an experienced insurance company so that you can find out more about what you need to do to protect your operations and revenue from employee dishonesty.

ATV

Ensure That Your ATV Is Covered Before You Hit the Trail

There are a wide variety of off-road trails to explore in Connecticut. From dense forests to muddy tracks, the state has lots of opportunities to enjoy the outdoors. However, before you head out on your next adventure, you should look into getting ATV coverage. Without proper insurance, you risk liability if something happens to you or other riders.

Types of Coverage

Insuring your ATV or UTV makes sure that you’re prepared for whatever may happen on the trail. Depending on your needs, there are a variety of different insurance types to check out:

  • Comprehensive (covers damage to ATV due to fire, theft, etc.)
  • Collision
  • Bodily injury and property damage liability
  • Uninsured/underinsured motorists

Insurance for your ATV means that you are protected in the event that you’re involved in an accident. Even if you’re not out on the trail, comprehensive insurance offers protection for theft and vandalism. Should there be an accident that results in injury or property damage due to your ATV, you can protect yourself from liability.

Peace of Mind Off the Road

ATVs offer a way to escape and explore the great outdoors. Though they’re recreational vehicles, they’re still an investment. Instead of risking liability, protect your assets by covering your quad or UTV with a variety of different insurance options.