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Business Owners Policy vs. Commercial Package Policy – One Size Doesn’t Fit All
Commercial insurance can be overwhelming, with a seemingly endless list of risks to address and policy options to choose from. To simplify the process, the insurance industry offers policy bundles like the Business Owners Policy (BOP) and Commercial Package Policy (CPP). While they sound similar, these two options serve different
Is Your Coverage Enough? Commercial Umbrella Liability & Excess Liability
Every business owner should ask themselves these two questions annually: Primary insurance policies can be maxed out during major claims, leaving your business responsible for remaining costs. This is where commercial umbrella liability or excess liability insurance can provide additional protection. Commercial Umbrella Liability vs. Excess Liability Insurance Though often
Surety Bonds 101: Sorting Through the Confusion
Surety bonds are one of the most misunderstood products in the industry. Unlike traditional insurance, surety bonds operate in specific circumstances and involve a unique three-party agreement. Whether you need to explain surety bonds to a vendor or are seeking coverage for the first time, this guide will help clarify
What’s Your Risk? 1099 Workers & General Liability Insurance
Do you know if your 1099 contractors or subcontractors are increasing your risk exposure? Are their actions covered by your general liability or professional liability insurance policies? In today’s gig economy, “independent contractors” play a significant role in the workforce. According to a January 2018 NPR/Marist Poll, one in five
5 Strategies for Minimizing the Risk of a Product Liability Claim
Nearly every manufacturing company will face a product liability claim at some point. Whether or not you’re found at fault, the financial burden of investigating and defending a claim can be significant. With careful planning and reliable product liability insurance, your business will be better equipped to respond, react, and
An Industry-by-Industry Guide to Professional Liability Insurance
From architects to tech consultants, businesses providing professional services face risks that aren’t covered by Commercial General Liability (CGL) insurance. Professional liability insurance, also known as errors and omissions (E&O) insurance, fills this gap by protecting against claims of negligence, misrepresentation, or failure to perform professional duties. Who Needs Professional
How the “Remote Employee” Impacts Your Workers’ Compensation Coverage
With telecommuting becoming increasingly common, businesses are leveraging this flexibility to build top-performing teams by removing geographical limitations and expanding their talent pools. In 2016, 43% of workers telecommuted, and that number continues to rise. But what does this trend mean for your workers’ compensation coverage? As more employees work
The National Impact of the California Consumer Privacy Act | Cyber Liability Insurance Edition
In the past year, a new digital security baseline has been established, complicating compliance and making it more critical than ever. But how does it affect your business? The answer is: very likely. As regulations evolve, every boardroom and strategic planning session should include discussions about risk, responsibility, and cyber
How to Protect Your Business Income from Shutdowns
As the federal government shutdown continues, many of us in the private sector carry on with business as usual. But what if a shutdown doesn’t just impact the government? What if it’s your business and employees who are affected? If your business experiences a temporary suspension of operations, are you
Insurance Coverage: Evaluating Your Business Needs in 2020
The beginning of the New Year is a time for resolutions. Business owners, especially those starting up new ventures in
How Much General Liability Insurance Does Your Business Need?
It’s important for businesses of all sizes to carry general liability; the reality is that many businesses go without the
Insurance for Startups: 4 Tips for Startup Business Owners
Business is highly risky and unpredictable if you’re a startup business owner. Anything could change at any moment, and there’s
5 Common Sense Tips to Avoid Common Liability Claims
Taking precautions to keep your place of business free of accidents and prevent liability claims is common sense, but they
California Wildfires Remind People to Check Their Insurance Coverage
In another year of warmer climates and dry conditions, California saw more wildfires across Northern and Southern California that claimed
Business Interruption Insurance: What Happens When You Can’t Do Business?
Your business needs to make profits if you’re going to keep your lights on, stay current on your bills, and