July 31, 2023
AgencyWhy Does Your Business Need Business Interruption Insurance?
The Importance of Business Interruption Insurance: Safeguarding Against Unexpected Disruptions According to the Federal Emergency Management Agency, 25% of businesses don’t reopen after a disaster. Business interruption insurance can play a key role in ensuring operations resume following a catastrophe. The National Association of Insurance Commissioners estimates that 30-40% of small business owners carry business […]
July 31, 2023
AgencyWhy Does Your Business Need Business Interruption Insurance?
The Importance of Business Interruption Insurance: Safeguarding Against Unexpected Disruptions According to the Federal Emergency Management Agency, 25% of businesses don’t reopen after a disaster. Business interruption insurance can play a key role in ensuring operations resume following a catastrophe. The National Association of Insurance Commissioners estimates that 30-40% of small business owners carry business […]
July 20, 2023
AgencyHow To Assess Your Business’ Cyber Risks
With cyber attacks becoming more frequent, there’s a growing chance that a business like yours will suffer a data breach or computer attack. It’s rare to find a small business that doesn’t conduct at least some of its transactions and communications online. Computers, tablets and other digital assets serve as the backbone of modern small […]
July 12, 2023
AgencyHow Does The Experience Modification Factor Affect Your Workers Comp Premiums?
Understanding the Experience Modification Factor Workers’ compensation insurance is a crucial component of protecting employees in the event of work-related injuries or illnesses. It provides medical benefits, wage replacement, and other necessary resources to injured workers while also safeguarding employers from costly lawsuits. One important aspect that plays a significant role in determining the cost […]
July 10, 2023
AgencyWhy Is Third-Party Employment Practices Liability Insurance Important?
In our increasingly litigious society, the threat of a lawsuit hangs over every business transaction, large or small. Even employers who adhere to the letter of the law at all times are likely be sued by an aggrieved employee or customer at some point. While many suits are groundless, defending against them is costly and […]
June 22, 2023
AgencyHow Contractual Risk Transfer Can Help Businesses Reduce Insurance Claims
Contractual risk transfer (CRT) is a risk management technique that allows a business to shift potential liability to another party through a noninsurance contract or agreement. This mechanism aims to transfer risk to the party that is better equipped to manage and control it. While insurance is the most common method of risk transfer, CRT […]
June 22, 2023
AgencyHow Contractual Risk Transfer Can Help Businesses Reduce Insurance Claims
Contractual risk transfer (CRT) is a risk management technique that allows a business to shift potential liability to another party through a noninsurance contract or agreement. This mechanism aims to transfer risk to the party that is better equipped to manage and control it. While insurance is the most common method of risk transfer, CRT […]
June 16, 2023
AgencyHow Cybercriminals Are Weaponizing Artificial Intelligence
The past few years have seen artificial intelligence (AI) surge in popularity among both businesses and individuals. Such technology encompasses machines, computer systems and other devices that can simulate human intelligence processes. In other words, this technology can perform a variety of cognitive functions typically associated with the human mind, such as observing, learning, reasoning, […]
June 15, 2023
AgencyUnderstanding Management Liability Insurance
Management liability insurance is a crucial component of an organization’s insurance portfolio, as it can provide coverage for a business and its leaders. Running a business entails a multitude of responsibilities and decisions. Whether they are making strategic choices or overseeing daily operations, business leaders are exposed to numerous risks. Management liability insurance consists of […]
June 7, 2023
AgencyThe Importance of Prompt Incident Reporting For Small Businesses
Businesses should take every incident that could result in a claim seriously, no matter how minor the event may seem. For example, if a patron slips and falls but appears unharmed, they could still file a claim several weeks later for injuries that may not have been immediately apparent. If a business failed to promptly […]