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Why Businesses Should Invest in Employment Practices Liability Insurance
Running a business means juggling countless responsibilities: managing finances, satisfying clients, and crucially, leading a team. Employees are the backbone of any operation, but with that comes a complex web of legal and ethical obligations. From hiring to firing and everything in between, employment-related risks are a reality every business
How the California Safe Homes Act Could Lower Insurance Costs in Wildfire Zones
As wildfires continue to reshape life in California, the state is taking bold legislative action to confront two of its most pressing challenges: wildfire risk and skyrocketing insurance costs. The newly introduced California Safe Homes Act (Assembly Bill 888) aims to provide practical, proactive solutions, and if passed, it could
Build a Career That Matters: 6 Reasons Young People Thrive in Insurance
“Insurance is greatest industry in the history of mankind.” – John Wepler, Chairman of MarshBerry The insurance industry might not be the first career path that comes to mind for young adults, but it offers a wealth of opportunities that sadly go mostly unconsidered by those entering the workforce for
Preparing for Excess Policy Audits: A Guide for Insureds
As an insured business, you rely on excess and surplus (E&S) insurance to cover risks that standard policies can’t handle—think high-hazard operations, unique liabilities, or niche industries. Recently, some E&S carriers have started auditing their excess policies to ensure premiums, terms, and risks align with today’s volatile market. These audits
State Farm’s Proposed 22% Rate Increase: How It Could Affect Your Insurance Costs
California’s insurance market is at a tipping point, and the ripple effects could hit your bottom line. State Farm General has been provisionally approved for a 22% rate hike on homeowners insurance policies, but the increase is not a done deal just yet. Here’s what you need to know and
Improve your Chances of Securing Fire Insurance
Securing commercial or personal insurance in high-hazard areas, particularly with the increasing frequency and severity of wildfires, can be challenging. There are, however, steps you can take as a company to improve your chances of obtaining fire insurance, mitigating risks, and keeping your insurance premiums manageable: 1. Assess and Improve
Experience Modifier: How to Reduce Workers’ Compensation Premiums
A well-organized safety program benefits not only your employees but also helps reduce workers’ compensation premiums. For many business owners, increasing insurance rates often feel beyond their control, with factors like collective loss history, inflation, and industry trends driving up costs. However, one critical factor—the Experience Modifier (e-mod)—is within your
How to Navigate Commercial Property Insurance Coverage
Whether you’re a small business owner or managing a large enterprise, protecting your commercial property is essential. With various coverage options available, it can be overwhelming to determine what your business needs. Here’s a guide to help you navigate the essentials: Building Coverage If you own the building where your
The WCIRB’s New Insurance Classifications for Food and Beverage Businesses
The Workers’ Compensation Insurance Rating Bureau (WCIRB) has announced significant changes that will impact businesses in the food and beverage industry. Beginning September 1, 2024, new insurance classifications will take effect, offering more precise coverage and potentially better rates for businesses. Here’s what you need to know about these changes,
The Hidden Fire Risk in Your Home: Lithium-Ion Batteries and How to Protect Your Property
Lithium-ion batteries power nearly every rechargeable device in a modern home. Phones, laptops, cordless tools, e-bikes, e-scooters, robotic vacuums, electric
Roof Maintenance: Protect Your Property and Your Investment
Your roof protects nearly every major component of your property, which means a small roofing problem can quickly turn into
How California’s New Wildfire Risk Scoring Is Reshaping Commercial Property Insurance
How is California’s changing wildfire risk scoring affecting commercial property insurance? In many cases, carriers are looking more closely at
Should Your CPA and Insurance Broker Work Together? Why It Matters for Business Owners
Most business owners assume their advisors are aligned, but in reality, your CPA and your insurance broker are usually working
Why a Bigger Broker Doesn’t Mean a Better Price
If you’ve ever shopped for commercial insurance, you’ve probably heard the pitch from a large national brokerage: “We place billions of
Captive Insurance Explained: When It’s Time to Take Control of Your Risk
Many companies are already paying for their own losses. Large deductibles, rising premiums, and unpredictable renewals often mean businesses are
