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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
usrisk

The Unique Insurance Needs of Professional Employer Organizations

Running a staffing agency or professional employer organization can offer some unique challenges. When you are responsible for more than 150,000 individuals at any given time, it can add a lot of stress to your life. It can be particularly difficult to determine the best fit for your needs in regard to insurance. In order for your PEOS to thrive, you need to think about the basic coverage options presented to you and which will help your company avoid financial issues.

Coverage Options

As mentioned by the experts at www.usrisk.com, there are certain considerations your professional employer organization should take when selecting insurance. Due to the nature of your business, you may need very specific plans in order to cover the demands placed on your clients or employees. Common coverage options to consider include:

  • General liability
  • Errors & omissions insurance
  • Employment practices liability

Additional Policy Considerations

There are also some additional policies you may wish to consider. Auto, crime, and property options are typically available to companies that require this coverage. Weigh out your options and determine which policy will help protect you in the broadest range of scenarios.

Getting the most out of your insurance policy takes time. Help your professional employer organization see the success it deserves by researching a coverage option that works best for your future.

manufacturer's insurance

3 Areas of Liability in Manufacturing

3 Areas of Liability in Manufacturing

If you operate a manufacturing facility, you probably carry a manufacturer’s insurance policy. However, if you are careful, your policy may have exclusions or gaps that don’t cover some of the biggest areas of liability your company might face. One of these crucial areas is product liability. The group at https://www.dsayles.com cautions that financial costs associated with resolving claims concerning product liabilities are only a part of the challenges for a company. Trying to repair your company’s reputation can be costly, and it can take years to return to good standing in the industry.

The liabilities with a company product can occur at any stage of development, making it crucial for the company to continually demonstrate a commitment to safety. There are three primary areas of product liability facing manufacturing companies.

  1. Design Defects. When the products are in the design phase, a hazard analysis should be conducted to determine the potential areas where an end-user could be harmed or the property itself could be damaged. This should include both anticipated and unanticipated uses.
  2. Manufacturing Defects. If a product has been found to have a defective condition that creates or created a danger to the user, the manufacturer can be held liable. Quality assurance programs can help catch these areas.
  3. Warning and Instruction Defects. Hazards that can’t be avoided by design may be cautioned against through warnings. The adequacy of the warning to protect a consumer can be the cause of a liability concern, with inadequate warning potentially leading to end-user harm.
homeowners insurance

Is Your Home Protected Against Winter Snow?

Living in a winter wonderland can be a magical experience, but snow can damage your home during and after storms. If you’re curious about how snow damage & homeowners insurance are related, this short guide is for you.

Potential Damages From Snow

Whether snow accumulates on your roof, seeps into your walls or damages your power system, it is generally covered under your homeowner’s insurance policy. Some of the winter damages that are associated with snowstorms that your policy helps with include the following:

  • Fallen tree branches
  • Frozen pipes
  • Leaks from melted snow
  • Strong winds
  • Ice dams

Getting the Most Out of Your Policy

Many people assume that damages resulting from snow or other winter weather occurrences are covered under home insurance. However, if damages could have been prevented, your homeowner’s insurance policy will not cover the damage, according to information provided by Thayer Innes Insurance. For example, performing the following maintenance throughout the year means insurance companies are more likely to provide compensation for damages:

  • Keeping the roof in good condition
  • Trimming trees
  • Shoveling snow
  • Repairing old pipes

Maintaining Your Home Is Key

As the colder months approach, it’s important for you to be aware of any conditions regarding snow damage & homeowners insurance according to your policy guidelines. Following the tips above regarding maintaining your home can help you have even more protection when it comes to snowstorms this winter.

Health Care

Most Vulnerable Data of Home Health Care Providers

Similar to other healthcare companies, home health care providers must adhere to HIPAA guidelines which require they protect patient data. However, hackers constantly present a problem by stealing data on the business’ servers. Here is a list of the most vulnerable data hackers are after.

Payment Information

Many patients use insurance to pay for their home health care. A hacker can take that information and fraudulently bill the insurance company. Credit cards, bank account information and health savings accounts are also vulnerable to theft.

Personal Information

A patient’s personal information is often contained in a server for access on mobile devices by clinicians attending to patients in their homes. This information includes their name, DOB, SSN and address which are prime targets for hackers. They can use the information for fraud and identity theft.

Health Records

The majority of people are not interested in others knowing about their detailed health histories and issues. This information can help hackers better target their fraudulent claims for lower rates of denial. As seen on Manchester Specialty Insurance, stiff penalties are common after home health data breaches.

Home health care providers need an effective security plan to protect the data of their patients. In addition to HIPAA violations, data breaches can bring forth lawsuits from patients whose data was stolen.

Huntersure LLC

Understanding Miscellaneous Professional Liability Insurance

If you own or manage a company that provides professional services, it’s essential to make sure you have the right level of insurance coverage. One type of insurance you may want to have is Miscellaneous Professional Liability insurance. This type of coverage can help reduce the financial consequences of errors or omissions that occur when you provide services to your clients.

The Basics of MPL Coverage

You may wonder exactly what is MPL insurance? In essence, this type of coverage can help protect your company if there are allegations or lawsuits based on problems with the services you provide. For example, some circumstances that MPL insurance may cover include lawsuit claims that your company failed to meet service deadlines, misrepresented the services offered or made errors during service contracts.

MPL Client Industries

You may consider obtaining MPL insurance no matter what type of services your company provides, but this type of coverage is especially common in certain industries. The insurance firm Huntersure LLC states that MPL insurance may work well for certain professionals: property managers, real estate agents, consultants, bookkeepers, travel agents, and publishers.
Having the right insurance coverage for your company can help protect your financial assets if there is a lawsuit or other legal action. If your company provides professional services, you may want to consider getting MPL coverage that can help offset liability issues related to errors, omissions, and failures that occur during service contracts.