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Moody Insurance

Tips for Safe Winter Riding

For many motorcyclists, the motorcycle is their primary modes of transportation. That means despite the temperatures falling and ice on the road, they are on their bike. In addition to having worldwide motorcycle insurance, these tips can help riders stay safe this winter.

Following Distance

One way to decrease the risk of an accident is to increase the following distance behind other vehicles. Slippery ice, cracks in the road or fresh salt decrease tire traction. Additional distance gives you more time to stop. The insurance firm Moody Insurance states that auto liability insurance is a requirement in most states.

Slick Conditions

Try to avoid riding when the weather turns nasty. Falling snow can quickly accumulate on the road creating slick road conditions. Those colder tires have less traction on an already slick surface. Besides heading home when the weather turns, consider carrying a kit to turn those tires into studded snow tires for added traction.

Proper Gear

A motorcycle doesn’t have the protection of a vehicle. No heater to warm those cold fingers or keep your core from freezing. Because of that, it is essential you wear proper gear when out. Layers are your friend when the temperatures drop but be sure the underlayer wicks away moisture.

Having a policy with worldwide motorcycle insurance is one way to protect yourself this winter. These other tips can help make riding more comfortable and safe.

Miscellaneous Professional Liability

MPL as an Added Protection

To protect your company from loss related to errors, omissions, or negligence that arise from claims made against your professional services, you will want to carry a professional liability coverage policy. As found in the information at https://www.huntersure.com, those working in printing, publishing, as a mortgage broker, or a travel agent could benefit from this protection in the event of a lawsuit against their company.

Industries Benefiting from MPL

There are hundreds of professions that face these liability concerns, and if you are operating in any of the following services, you may want to consider adding a miscellaneous professional liability (MPL) plan to your arsenal of insurance coverage. This for those in:

  • Information technology services
  • Insurance brokerage
  • Lobbying
  • Multimedia products
  • Process services

This form of coverage is good for those who work in distribution or manufacturing, as it is a way to protect against the financial damages that can arise during claims involving outsourced work, intellectual property, and online commerce transactions.

The realm of professional liability is highly complex, and your business may have unique exposures that aren’t addressed with a generically written policy. You should consult with an agency or broker that is familiar with your industry to give you the best advice on what level of protection you need. Through their help, the underwriting process can specifically address the risks that pose the greatest threat to your company.

usrisk

Cyber Insurance Needs on the Rise in the New Decade

Completing a cyber insurance questionnaire ensures you have a policy that meets the needs of your business. Before you fill it out though you should know why you need cyber insurance in the first place. Even small businesses benefit from protecting their data both on their network and on the internet.

Data Breaches

Norton estimates that over 4 billion records were breached in 2019. This number is half again as much as 2018 making cybersecurity a must for any business operating on a network. The largest breaches include Capital One, DoorDash, Evite, Georgia Tech, Zoll Medical, FEMA and BioStar 2. This doesn’t include the countless small businesses breached throughout the year that didn’t make headlines.

Network Mistakes

Large corporations have made the mistakes this year as in previous years of simply not securing their networks properly. These unsecured databases account for the majority of data breaches. Small businesses are just as prone to making these mistakes.

Cyber Insurance

As seen on www.usrisk.com/, the questionnaire looks at the business’ risk management strategy, data management, network security and history of cyberattacks. These help the insurance company determine how much risk your business poses and can help them provide the coverage you need should a breach happen.

Complete the cyber insurance questionnaire to see how well you are handling securing your data against a breach. Use this information to obtain the necessary insurance and create a more robust cybersecurity process.

Library Insurance

Changing Communities Is the Library of the Future

Every year the Library Futures Conference is put on by the OCLC’s Americas Regional Council. These conferences focus on helping libraries thrive in a time of great change beyond protecting themselves with library insurance. The latest trend is to focus on how libraries can change communities.

Modern Libraries

As seen on https://www.reganagency.com/, books are not all that modern library is. With the new focus of acting as community centers and media centers, insurance must accommodate the changing exposures affecting these cultural institutions.

Library Staff

Library staff is as concerned with a work/life balance as younger generations move into the career. Libraries face similar concerns with other businesses around recruiting talented people who revitalize the organizations they are in. Many libraries have responded by providing opportunities for movement within the organization before posting a job listing outside the library.

Collaborative Partnerships

Many academic libraries are seeking collaborative partnerships inside of their institutions to better serve their communities. Engaging with professors and departments helps students understand the valuable resources available on the campus. With a growing online student population, libraries are meeting the demand for online material like never before.

As the industry changes, library insurance is there to cover new exposures and ones of old. Libraries continue to be a place for the community offering people a chance to grow, learn and discover.

boat fuel vent

Top Reasons to Properly Vent a Boat

The boat fuel vent is an essential component of any vessel operating with a fuel source. Properly installing these vents helps lower a repairer or manufacturer’s liability for the vessel. Here are the top reasons to properly vent the boat’s fuel system.

Water Entry

Since boats travel on water, the fuel vent can allow water in if not properly installed. There are a few ways to limit water from entering the fuel such as a high mount, angling the vent or installing a shield. As seen on www.merrimacins.com, following the proper installation steps is important to limit liability.

Fuel Puddling

Sags in the vent line can cause puddling of fuel. The fuel tank vent system cannot operate effectively if there is fuel puddled in the line. Keeping the line straight uses gravity to move fuel back toward the tank.

Wire Screens

A clogged screen prevents the tank from properly venting. The screen keeps out unwanted items such as debris and insects, but they can also build up with grime, corrosion and salt crystals. Cleaning the screen or replacing it during the installation of the fuel vent system allows for proper ventilation.

The boat fuel vent is a key component of the boat’s engine. When it fails to work properly, the engine can be starved of fuel or prevent you from properly filling up the gas tank.

insurance brokers

Attract the Best Talent With Great Health Insurance

When you take good care of your employees, they take care of your business in turn, so excellent health insurance is a must. Health insurance isn’t just the best possible way to keep your existing staff happy either. A solid benefits package is among the best ways to set yourself apart from the competition and attract the very best new talent.

What’s Right for Your Company?

As discussed on www.isurepro.com, choosing the right healthcare benefits for your company is more complicated than you may think, especially when you consider the way the healthcare industry, in general, has been changing in recent years. You’ve certainly got your options to choose from, each with its own unique benefits. They include but are not limited to:

  • Traditional healthcare plans 
  • Health maintenance organizations (HMOs)
  • Preferred provider organizations (PPOs)

Making Sense of Your Options

Choosing the right group medical insurance brokers to put your company’s healthcare plan together is an essential part of doing things right. Not only can expert brokers help you determine which of your choices makes the most sense for your company, but they can make sure you get the best possible quality plan for your budget at the lowest price points. Ask about your options today, and get on the road to making your company a better place to work.

kdisonline

Condo Association Risks: Why Directors and Officers Should Be Protected

Directors and Officers in condominiums are often volunteers that want to help ensure that the community runs in the best way possible. Of course, when you are a director or officer, you also open yourself up to a number of different risks. Here is what you need to consider when you are one of the board members of an association.

Risks to Directors and Officers

Unfortunately, directors and officers of community associations are at risk for a variety of different lawsuits, according to the experts at www.kdisonline.com. If for any reason, your residents or employees have a complaint about their treatment, you may have a reason to worry. Here are just a few different claims that you may catch yourself facing:

  • Negligence
  • Discrimination
  • Misuse of funds
  • Breach of fiduciary duty
  • Harassment
  • Breach of contract
  • Wrongful foreclosure

In order to handle these claims, you need to have the appropriate insurance coverage.

If you are a director or officer of a condo association, you have to keep yourself protected and prepared for any sort of lawsuit that may arise. After all, if there are any wrongdoings or if an employee or resident claims that there was wrongdoing, you could be on the hook for it. Condo directors and officer’s insurance allow for directors and officers to defend themselves.

Program Business

Ways To Stay Current on Insurance Industry Trends and Best Practices

Like many professional sectors, the insurance industry is constantly changing. To keep your agency afloat now as well as set it up for long-term viability, you have to know what is going on in this specialized field. Here are ways to stay current on trends and best practices to give your agency the best chance for success.

Study Blogs and Web Sites

Blogs can often be good sources of current news and information. However, you need to vet what you read. Scrutinize analytics and cross-check material with other sources you find. Web sites with news relating to the insurance industry, including Your Money Your Life (YMYL) sites are great ways to keep your finger on the sector’s pulse.

Use Relevant Databases and Platforms

To stay up-to-date on industry trends, search for insurance articles using a credible platform. You can get more research done quickly and easily when the entire insurance industry is delivered to you. Source: Program Business

Communicate

Although much of today’s world is digitally driven, ultimately nothing is better than personal communication. Networking with colleagues and talking to customers both yield insights and information you just cannot get from digital sources.

Part of success as an insurance agent is knowing what is of-the-moment in your industry. There are multiple ways of doing this. Certainly, take advantage of the digital tools now available, but remember that personal communication is just as valuable. When you know what is on-trend, you set yourself for long-term success.

daniels insurance inc

Staying Safe in the Construction Industry

If you work in the construction industry, you know that you face many risks and dangers on a day-to-day basis. Basic safety precautions are absolutely necessary for this line of work. To keep you and your workers safe on your construction site, follow these guidelines.

Wear the Proper Equipment

Your workers can’t do their jobs effectively if they’re aren’t equipped with Personal Protective Equipment (PPE). Whenever you step onto the construction site, confirm that your workers are wearing the following items:

  • Hard hats
  • Safety goggles
  • Full face shields
  • Gloves
  • Earplugs or earmuffs
  • Respirators

It’s also crucial to take the conditions of your site into account to make sure that your equipment is tailored to them. As seen on www.danielsinsuranceinc.com, the appropriate gear can prevent accidents from occurring and keep your workers protected from various health risks.

Understand the Benefits of Liability Insurance

In addition to recognizing the importance of PPE, it’s vital to consider the benefits of having the right liability insurance. A liability policy can include coverage for customer injury, property damage and slander or libel. Be sure to look into the aspects of your insurance policy to ensure that it caters to the specific needs of your business.

Staying safe in the construction industry is a matter of using the right equipment and having the proper coverage. When you put in the work and preparation that you need to succeed, your business can thrive in many ways.

What is a Risk Retention Group?

You may have heard the term risk retention group or RRP and wondered what it means. A risk retention group is a term used to define a type of insurance company that is owned by its members. Members are usually from similar types of businesses, which means they share a similar type of risk and liability. A risk retention group exists to assume liability and spread it between its members.

Are There State or Federal Regulations?

As a whole, insurance is regulated at the state level. This is true for everything except RRG’s. In 1986, The Federal Liability Risk Retention Act was put in place to provide affordable liability insurance options, which were lacking in the 80s. It remains in place today and is still the only insurance regulation on the federal level. Risk-retention groups are federally chartered but still require state licensure. Once an RRG is licensed in the state where it is domiciled, it can do business across state lines without further state licensing.

What Are The Advantages of Using an RRG?

Insurance companies like Caitlin Morgan Insurance Services provide direction for companies that want to be a part of a risk retention group. They can explain some of the advantages that come with a membership that includes the following:

  • not having to worry about multiple state licensing and regulations
  • custom benefits and rate structures
  • more member risk control 
  • removing market residuals