COMMERCIAL INSURANCE

Owning a business means protecting that same business so you may initially focus on the liability aspect of insurance protection along with the physical part of the business itself; but is that all you need to consider when protecting your livelihood? Find out how to invest in crime insurance for your business needs. Protecting Your Assets Today and Tomorrow Businesses like yours can be a target for many types of crime, but what about when it comes from “inside” and your own employees are embezzling money? The 2018 Hiscox Embezzlement Study reveals that the average loss a company suffers due to embezzlement is $357,650, which doesn’t even consider thefts from outside sources. Business crime is [...]

Hot shot trucking can be profitable and rewarding as this type of truck driving position typically pays more than standard truck driving jobs; however, there are insurance requirements for hot shot trucking companies that must be met before considering this line of work. What is a Hot Shot Driver? A hot shot driver typically specializes in express deliveries hauling LTL (less than truck-load mode) and does not require the usage of an entire trailer. Typically, a hot shot driver hauls freight utilizing a gooseneck trailer attached to a heavy duty flat bed truck, works on a tight schedule due to expedited hauling, and spends most of the their travel time regionally. While lucrative, it can [...]

There is a direct correlation between an improving economy and the demand for contracting work, which sounds great in theory, but there are some pitfalls for the contractors who are trying to accept the influx of jobs and complete them to satisfaction. If you are an artisan contractor, you need to be aware of a common gap in contractors’ insurance that could leave you in a hole. Filling the Gaps  The high demand for contracting work means that contractors may be rushing to complete jobs, which can result in costly errors. According to the Bureau of Labor Statistics, there is currently a shortage in skilled contractors, which means the current contractors are faced with an [...]

Owning any type of business property means you are assuming the risk that your property may eventually sustain damages of some type(s), by either fire or some other covered peril, and when it does happen, you need to be aware of some pertinent facts.  The damages may be so severe that you may need to restore or rebuild your damaged building; however, you may encounter some obstacles if aren’t aware of various government laws and/or ordinances that might govern repairs/restoration to your damaged building.  Find out when Ordinance or Law Insurance Coverage is critical. Imagine that you own an electric company that is severely damaged in a fire, resulting in substantial damages that require a [...]

As a business owner, you know adequate protection must be in place in order to protect everything you have worked so hard to build. Business insurance is a must for that protection, but in order to keep your insurance premiums affordable, you need to know how to control your losses. Keep in mind that insurance is designed for catastrophic loss protection for your business and not for maintenance protection. Frequency Predicts Future Loss Potential  Suppose you are a small business owner and have had several slip and falls on your property, resulting in injuries that prompted claims. As an outcome, a red flag may be acknowledged by your insurer, which could result in higher premiums [...]

If you have even been asked to serve as a board member for a Non-Profit Organization, you may consider how your participation in the many executive decisions could reinforce the success of the Non-Profit or improve areas that you feel need attention, but have you considered the legal challenges you may face if that Non-Profit organization does not have the right insurance in place? Before you say “yes”, find out if that Non-Profit has Directors and Officers (D&O) Insurance. What is Directors and Officers (D&O) Insurance?  This type of insurance is typically purchased by the company itself and is designed to protect the directors and officers/executives from claims that may arise brought by employees, customers, [...]

As a chiropractor running your own business, you know the many risks your profession faces, but do you have the right type of business insurance to minimize those risks? As a small business owner, you can anticipate many scenarios happening that may include equipment breakdown, cyber attacks, a client getting injured on your property, or an employee claim citing discrimination. If not protected with the right type of business insurance for your chiropractic office, these types of claims can wreak havoc on your financial security and business. Are You Protected When an Accident Happens? Your profession as a chiropractor comes with its unique share of inherent risks so you must be prepared to handle losses [...]

All businesses are faced with certain risks that may negatively impact its growth, should disaster strike. As a contractor, you have worked diligently and invested time, money, and skill to warrant your business’ success, so isn’t it just as important to have the right type of business insurance in place to minimize those risks that are especially prevalent to your contracting business? A standard N.C. business owners insurance policy will provide protection for covered losses, but you may need to consider the certain exclusions that may apply that could leave you with coverage gaps. Find out the most often overlooked coverage options for contractors that you may not have considered, but may need. Fill the [...]

If you have a business where you utilize fleet drivers, you realize how important driving safety is for your business, the drivers, and anyone else driving on the highways. Accidents involving fleet cars/trucks cost businesses millions of dollars every year so it is important to train your fleet drivers how to handle an accident when and if it happens. Having a plan in place BEFORE an accident happens can help promote safety on the road, increase the driver’s awareness to document information at the accident scene, and in turn, reduce the likelihood of similar accidents down the road. When an accident happens, it is normal for drivers to become flustered and anxious, but it is [...]

Your business depends on your drivers for many things, including the success of your business; but what if you hired someone to be a driver and found out they were not following appropriate safety measures when operating one of your fleet vehicles? Failing to hire safe drivers for your business can cost you your business if you aren’t careful. Before you hire your next driver, recognize 7 tips for hiring safe drivers for your business. Keep in mind there are many different situations where a driver for your business may operate. Sometimes, the driver may be a full time driver, while other times, you may have someone who works for you only drive randomly for [...]