Author: Melvin

Coverage Essential to Data Breaches

Owners of companies have a lot to digest. They not only need to grow and perform well financially in order to please investors and shareholders, they also have to constantly be innovative, producing new products and building new services to satisfy the customers’ needs. Add to this the need to acquire and retain good employees (and keep them happy) while nurturing them to help them to perform better.

In order for this to occur these owners understand their urgent need to have cyber insurance that will help to avoid business interruption when coming under the threat of cyber attacks and other possible security concerns. There are many key challenges to staying in business and being profitable.

Addressing a growing concern

When tuning into the news we can see that companies everywhere, irrespective of their sector, size or resources, have become vulnerable to attacks. Hackers, even those threats that come from within, are becoming more common and thieves are getting better at infiltrating systems while making outrageous demands, usually in the form of ransom in exchange for restoring systems that have been compromised.

The vulnerabilities that exist in most company infrastructures have become glaringly evident and this can compromise their current financial situation and endanger any future plans and investments. Information security should be at the forefront of any risk management planning since having a strong plan to protect these organizations at risk of cyber attacks is fundamental.

This should include a recovery plan to help deal with the aftermath of any potential security breach. A company’s investors thoroughly support managers who they believe are best prepared to deal with any imaginable scenario that the company might experience due to cyber security issues. By acknowledging the common vulnerabilities used by attackers in gaining access to confidential information we can see that many of the fundamental cyber security measures need to be constantly updated.

Unfortunately most companies feel that they won’t be targeted, or that their critical assets lack any real value, not giving proper attention to the sophistication of potential attackers looking for easy prey. Having your clients acquire adequate cyber insurance protection is a big step in reducing their odds of being compromised.


Why Do You Need a Business Owners Policy?

When your business is your most valuable asset, what is more important than making sure it’s protected? If you are considering options for Carmel business owners policy coverages, consider purchasing a business owners policy (BOP).

A business owners policy provides a package of small-to-medium sized businesses coverage in three main areas: liability, property and equipment, and loss of income due to temporary closure.

Liability coverage can cover any harm caused to customers due to product failure, an accident caused on the business premises, or a service improperly performed by your employees.

A business owners policy also provides loss of income coverage due to an unforeseen incident, such as a fire or natural disaster. Coverage can also include reimbursement for the expenses of relocating your office or store front and reimbursement for the continuing expenses of running your business, such as payroll, mortgage payments, and taxes.

Damage to property, equipment, inventory, and office furniture can also be covered as part of the business owners policy.

You can also add enhancements to the policy that meet your particular business needs. For example, if you have mobile property related to your business, you can include coverage for that as well.

Carmel business owners policy coverages will give you piece of mind so that you can focus on the day-to-day operations of your business.

Help Clients Cover Their Developments

When you find the right wholesale PUD insurance for your clients, you are helping them cover their potential losses in planned unit developments as well as giving them more confidence to start or continue these projects. These programs can cover things such as crime, cyber risk and officers’ liability so that projects can proceed and thrive with less worry. You can find wholesale insurance online through specialty markets and qualified brokers.

The more varied options you can offer your clients, the more of a customer base you are likely to have. This means that if you can find the right niche of coverage to provide in your area, you can bring more clients into your agency and expand your business. You can also help develop the area you live in to better fit the lifestyles of your fellow citizens. For instance, you can help developers refurbish a tired lot into a stunning condo complex with less worry about the liabilities.

Wholesale PUD insurance is one of the best ways to make an investment in your community while still meeting the insurance needs of your clients and the developers in your area. You can find the right combinations of packages by looking in the markets which offer them. This lets you give your clients a more personalized coverage to meet their unique needs.

3 Reasons Your Company Needs a Wellness Program

If you own a small business or work in human resources, you strive to make your workplace a productive, successful space. As such, to retain exceptional talent, you choose the best health insurance in Torrance. Still, if you don’t have a wellness program, you may not be getting the most out of your employees. Here are three reasons your company should start a wellness program today.

1. Improve Employee Health

There is no question that sick employees contribute to lost productivity and a decrease in overall morale. Poor employee health has long-term consequences as well. To encourage a healthy workplace, a wellness program that offers incentives is usually a successful strategy. Specifically, wellness programs usually accomplish the following:

  • Decreased depression
  • Reduced stress
  • Improved life satisfaction

2. Save Money

Since health insurance can be expensive, you must look for ways to save money. Many insurers offer discounts to organizations with wellness programs.

3. Increase Attendance

Because present employees are usually more successful than absent ones, you want to do what you can to encourage staff to come to work. If your organization has a truancy problem, starting a wellness program may help increase attendance.

Rather than leaving the success of your organization to chance, benefit from starting a wellness program. By working with an experienced provider of insurance in Torrance, you can likely develop one that meets the needs of both your company and your employees.

Ensuring for Abuse Allegations Against the Elderly

While nursing homes certainly have many concerns when it comes to the care of their residents, none is more alarming or gets reported more often than concerns over elderly abuse. It’s estimated that around five percent of facility residents have been subjected to some form of mistreatment or abuse while maintaining residency in a nursing home or other living facility.

Owners need to be aware of such conditions and address any mistreatment that occurs since they will ultimately be made accountable and need adequate nursing home insurance coverage to deal with any pending litigation. Families who have reason to believe that abuse has occurred to a loved one will often seek retribution in a courtroom.

A serious issue that often goes unreported

The fact is that many incidents of abuse are either undiscovered or go unreported. Some of the reasons why this is true are due to embarrassment or fear of reporting by those who have been subjected to abuse. The frailty of the victim and the lack of physical means to report the abuse, such as having a disability or lack of access to a telephone are both contributing factors.

Victims often fear that reporting the crime will result in further attacks by the caregiver or nurse responsible for the assault, and they also fear that by reporting abuse they will be left alone leaving them to believe that they are now expected to care for themselves. Because of their fragile state of mind, they are good targets for predators, and their own self-consciousness, in turn, makes them unwilling accomplices.

Evidence suggests that in many cases the staff in nursing homes do not have adequate training to deal with residence and their constant needs. This can result in a failure to provide sufficient care to residents, improperly dispense medications, and fail to follow admission and discharge policies required by state regulators. In cases where residents have dementia, more aggressive incidents of mistreatment by staff have been reported.

This is a problem that is a concern for families, owners, and staff, and needs to be addressed properly and immediately. More stringent supervision may help resolve some issues, but when neglect and abuse are concerns, nursing home insurance coverage for abuse issues is an important policy that your client should be carrying at all times.


Increase Customer Offerings by Partnering With the Right Wholesaler

When you went into the trucking insurance business, you had a vision of helping individual truckers and trucking companies alike obtain the coverage they need to protect themselves and their most valuable assets from the many perils faced by the industry. However, no matter how much work you put forth, you cannot seem to obtain the minimal amount of coverage. Unfortunately, many truckers need more than the minimum amount of coverage. If you’re having trouble obtaining the comprehensive coverage you need to offer your trucking clients, team up with the trucking insurance program specialists near you.

The right partner for you offers several policy options, packages and add-ons and is willing to help you help your clients meet their insurance goals. By helping you build unique solutions not typically offered by other insurers, your partner can help you enhance your existing client relationships and form new ones. Forming new ones is made possible when you are finally able to free up time often spent searching for quotes, submitting information and performing the underwriting process, and instead use it to establish new relationships.

If you’re ready to take your trucking insurance business to the next level, partner with the trucking insurance program specialists near you. Doing so could be the exact move you need to make to realize your business goals and to adequately protect your clients.

Protect Your Tech Business From Unexpected Errors

The best-laid plans often go awry, especially when working with new technology, but those mistakes shouldn’t cause unwanted stress. The right errors and omission policy will help protect you from certain consequences when unexpected mistakes occur on the job.

Specifically, this policy type provides business owners with a way to cover legal costs associated with a lawsuit brought upon the business by a client after you make a professional error. It can also cover judgements brought against the business. Most general liability policies will not cover work performed on the job, whether that work causes damage or is in dispute because it is viewed as poorly performed.

The right errors and omission policy, sometimes called professional liability insurance, can also help pay legal costs when a client files a suit because of missed deadlines, employee mistakes, incomplete work and other negligence.

Two Questions to Ask Your Insurer

When searching for the right E&O policy, consider asking a potential insurer these two questions. “Will the insurer provide a lawyer?” and “Will my policy cover me and my business if I choose to sue someone else?”

Some insurers will cover legal costs and provide a lawyer to the policyholder. Some may compensate you for the cost. An E&O policy does not cover expenses if you chose to sue, however.

Transportation Liability Coverage 101

In Texas, transportation liability coverage can be an important part of protecting the assets of a trucking company. Whether it is an individual or company, trucking is an important part of the Texas economy and poised to continue to grow along with the expansion of the Panama Canal. When it comes to understanding transportation liability coverage, here are a few things to keep in mind.

Who is Covered

When purchasing liability coverage, consider who should be covered. If your business uses subcontractors or independent contractors, it is important to consider a policy that insures against your potential risks based on who is doing the work.

What is Protected

For businesses based out of Texas, transportation liability coverage should be reviewed to see if what is protected under the policy. There might be a huge difference in claim compensation for a policy that covers ship to warehouse versus warehouse to warehouse. Working with an experienced insurance professional often helps provide

Why Coverage Matters

When hauling your load across the state, remember that when it comes to coverage in Texas, transportation liability coverage can help protect your cargo, business and assets. In some instances, coverage may be mandated by law. Knowing your risks and working with a friendly and professional insurance company can get you back on the road sooner and protect what matters most.

Interesting Facts to Consider Regarding Life Insurance

Before you make the decision to purchase life insurance you must realize that there are options to choose from. In other words, you should first learn how it works. Single premium life insurance (SPL) is a life insurance policy that you can acquire by purchasing it with a lump sum of money paid up front. That’s it. There are no more premiums to pay after that. In return, the death benefit is guaranteed to remain funded until your death.

The traditional payment arrangement for life insurance is for the policyholder to make monthly or annual payments for the entire life of the policy. When you buy single premium life insurance, your lump-sum payment to the insurance company in exchange for the policy lasts your entire life. The initial payment, along with the interest the policy earns over the life of the policy replaces the standard premium payments the insured would be required to make under a traditional arrangement.

How to decide which carrier to buy from

There are many carriers that provide life insurance. You see it advertised on television from many of the larger corporations. You probably get pop-ups on your laptop or smartphone, especially if you search for insurance on the Internet. Simply choose the company from whom you want to purchase your SPL policy. Making your purchase from an insurance carrier that you already have other policies with may qualify you for a discount. Every insurance carrier offers a range of different SPL options at different costs, so doing some research can help you to decide.

You’ll need to fill out an application to determine whether or not you qualify for a life policy. The application will require you to give answers about some personal information along with your health history and some lifestyle information, for example, are you a smoker? You may also be required to take a physical exam. Then, an underwriter reviews your application and medical history to determine how much of a financial risk it would be to insure you. This may also affect the amount of the premium you will be required to pay. You’ll also have an opportunity to make a choice on investment options.

This is often a big decision, something you shouldn’t rush into. Speak to an agent that can answer all your questions and help you make an informed decision about single premium life insurance.


3 Risks Your Company Must Consider

Business owners policy coverages help business owners manage the risks associated with doing business. By working with a skilled agent, business owners tailor policies to meet the specific needs of their organizations. Here are three business-related risks every company owner must consider.

1. Property Damage

Your company’s physical assets make doing business possible. Unfortunately, fires, vandalism, storms and other catastrophes can destroy buildings, equipment and inventory. If you don’t have property coverage, you may not be able to afford to rebuild. As such, looking for business owners policy coverages that protect physical assets is likely essential.

2. Products Liability

If your company makes goods, you must think about liability due to product defects. Should one of your customers or another person sustain injury from a product your company manufactured, you may have to defend a costly lawsuit. The right products liability coverage may help you pay the follow expenses:

  • Legal costs
  • Court judgments
  • Settlements
  • Recalls
  • Other expenses

3. Business Interruption

Work stoppages and other business interruptions can literally bring your organization to a standstill. If you can’t do business, you may not be able to pay bills or make payroll. By purchasing business interruption coverage, you typically get the cash you need to weather the storm.

With the right coverage, you protect your organization from harm. Rather than worrying about the welfare of your company, consider working with an experienced agent to purchase effective business owners policy coverages for your company.