Author: Melvin

Make Sure You Include These Coverages in Your Car Insurance Policy

There comes a point in everyone’s life when we must tighten our belts and trim from our budget. It often comes as a surprise to many that auto insurance is one area where you can get a good deal, lower your premium, and still protect yourself and other drivers when on the road. Nevertheless, if you are looking for the cheapest car insurance in Ct or any other state, make sure you include some of these “must-haves.”

Don’t Leave These Policies Out

It is a good thing that by law drivers must carry both liability coverage and uninsured motorist coverage. You should never leave those two coverages out of any auto policy. Liability insurance covers injuries to both the driver and the passengers. It also covers any damage the vehicle sustains.

Further protect yourself and your passengers with uninsured motorist coverage. Imagine another car strikes your vehicle and then you learn the driver does not have insurance. With uninsured motorist insurance, you are covered if any injuries or damages occur.

Feel Free to Forget These

It may not be the best idea, but most states do not require drivers to carry collision or comprehensive coverage. If you can afford it, however, both coverages are worth it. Collision will help pay for car damage. If something other than a car strikes your vehicle, comprehensive coverage will protect you. Leaving those products out, though, will help you find the cheapest auto insurance in Ct.

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Creating Dependable and Affordable Protection

With over 80 years of industry experience, the Olson agency has built long-standing relationships with thousands of clients. We have provided powerful and reliable insurance for companies and individuals all over California. Our qualified team of experts is ready to help you build a customizable package that can safeguard you for years to come.

Business Coverage

Our agents have experience with the needs of many different industries. From retail to wholesale and real estate to restaurants, our policies are built around your needs and around California law. We are happy to provide the following policies:

  • Property Coverage
  • Commercial Auto
  • Errors & Omissions
  • Cyber
  • Employment Practices Liability
  • Worker’s Compensation

The Olson agency team can also protect construction contractors, lawyers, home healthcare centers and manufacturers.

Personal Protection

Our agency is also ready to help families. Affordable packages let you care for you family without breaking the banks. A small sample of policies include the following:

  • Life
  • Auto
  • Dental/Vision
  • Home
  • Earthquake
  • Flood
  • And Many More

National Network with a Personalized Approach

The Olson agency has been a member of the national ISU Insurance Services program for over four decades. This allows our team to have the power and resources of a nation-wide agency while still giving clients a small-town feel.

Our team is ready to work with your situation to create the best premium for you. Reach out to an agent to today for a fast quote.

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Protecting Business Investments

Real estate investments usually take into account the surrounding environment and what the local economy is doing. For those interested in capitalizing on a location’s reputation for sound investments, take a look at the Orlando market. With entertainment, retail and hospitality industries booming, it would seem that this is the place to be. No matter what business or investment you choose to make, you can be sure of your need for commercial property insurance in Orlando, Florida.

Who Needs It

Any business owner looking to protect their valuable assets such as office space, equipment, tools, machinery or inventory storage will need insurance coverage. A policy will usually offer financial protection in the event of fire, vandalism, theft or some natural disasters. These perils could apply to just about any industry and their operations:

  • Medical facilities
  • Office space
  • Retail locations
  • Warehouses

What it Costs

The cost of a commercial policy will depend on several factors, as well as the limits you decide to carry. Older buildings having greater risks with long-term damage, making them more costly to insure. Small office space will be less to insure than a manufacturing company. Your location with other businesses, the economic landscape and crime demographics will also affect your rates.

Regardless of the deciding factors, having commercial property insurance in Orlando is one of the best ways to protect your business investments.

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The Importance of Training Your Employees in Cyber Security

When it comes to your business’s cybersecurity, you don’t want to slack on it. Some business owners think that they can get away with simply having anti-virus and a firewall. If this is how you think, you’re missing out on employee risk. When it comes down to it, you need cyber security training for employees.

What Employees Will Learn

When it comes to cybersecurity, there are certain steps that your employees can take to make themselves and your business safer. When it comes to training, there are a few different areas that your employees need to be aware of.
Here’s a list of what they need to know how to do:

  • Create stronger passwords
  • Avoid phishing schemes
  • Avoid unsecured wi-fi and devices

When it comes to wi-fi and devices, anything that doesn’t require a password is unsecure. The risks of unsecured wi-fi is that the network is shared and many people may be able to access your employee’s information.

Your business’s security isn’t only up to you. When you have employees working for you, it’s important that they also know about how to keep themselves and your business safe. The best way to keep them informed is to utilize cyber security training for employees. While insurance is important, being informed is equally important.

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Professional Liability Concerns for Medical Careers

The medical profession carries a heavy burden of illness and disease, but also promotes healing, well-being and attentive care. For those with a career in medicine, the opportunity to do good and promote health comes with its own risks and liabilities. When something doesn’t go as planned, despite the best of efforts and intentions, there is a risk of a lawsuit for malpractice. Carrying nurses malpractice insurance can cover nursing individuals in these situations.

What It Covers

Employers will carry a general liability policy, but these are often written to protect the interest of the employer and their operations. When it comes to protecting employees, there are certain gaps. A personal policy can address these gaps.

  • Coverage policies for self-employed or employed nursing professionals, regardless of professional association affiliations
  • Legal defense fund to hire your own attorney
  • Court expenses related to your defense
  • Lost Wages for trial attendance, administrative leave or board hearings
  • Licensing issues reimbursement when board actions require further response

The need for professional liability insurance increases, as both the cost of litigation and the prevalence of malpractice claims are ever increasing. There is often a need for high limits, with protection covering both professional and general liability concerns for the allied health professional. With nurses malpractice insurance, your life’s work can be protected and financially assisted in the event of a claim or suit against your actions.

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Locating the Right Broker

Whether you are looking for personal or business-related insurance near Ridgewood, you need to be familiar with what defined a great broker. Apart from the carriers they use to find coverage, you should be confident that the local team will have your best interests at mind. The right agent and firm will have two primary qualities that you can trust in.

Competence

When you are needing an agent on your side in the event of an incident or accident, you need to trust their experience and understanding of the insurance world, claims processing and even legal concerns. The right service will be backed by years of experience, absolute professionalism and a current, yet ever-developing, understanding of trends in the insurance industry. This is especially if true if they meet the second important quality.

Comprehensive Attention

A strong understanding of the insurance industry is extremely important if an agency is going to offer both personal and business insurance solutions. At times, there are federal and state laws governing business policies, just as many states mandate certain personal insurance coverage related to automobiles. Being able to offer a policy to meet each business need or each personal need effectively and affordably requires comprehensive attention to client needs.

Finding the right broker- whether you are looking for business or personal insurance near Ridgewood- should be easier to identify if they reveal they have these qualities.

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What is Professional Liability Coverage?

Professional liability insurance, also known as errors and omissions insurance, is a special type of insurance that protects your business against lawsuits resulting from a service you provided. Specifically, it protects your business and assets in case a customer claims that they experienced losses due to mistakes in the service you provided to them (errors) or because of what you didn’t provide to them (omissions).

Professional liability insurance is an optional coverage, but in certain areas, it’s required for those in fields such as medicine where its commonly referred to as malpractice insurance. Here are examples of other practitioners who can benefit from E&O insurance:

Technology professionals: Contractors whose jobs require that they build or repair technology should get E&O coverage. Even if its not your fault, its possible for you to be blamed for a customers gadget gone bad.

Real estate professionals: If a client follows your recommendations and ends up with financial losses, they may want to file suit to recoup their losses. E&O coverage will cover the cost of any legal fees and settlements.

Legal professionals: It’s not unusual for a client to sue their attorney following a legal case. E&O coverage will ensure that any fees and payments towards your defense are covered.

It’s clear that professional liability insurance is vitally important, especially for professionals who provide services directly to customers. Be sure to include it as part of your coverage when you sign up for your business insurance package.

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Successful Insurance Marketing

As an insurance agency, your online presence isn’t just a great marketing tool: it is the face of your business. Strategic planning and insurance marketing strategies will determine whether the 95% of all prospective clients who visit your website before making a purchasing decision will go with you or look somewhere else.

Powerful First Impressions

The design of your website is critical. It should be attractive, professional, content-rich and easy to use. Here are some questions to ask yourself:

  • Is the agency name or logo prominently displayed?
  • Can a first-time user easily navigate the site?
  • Is there a fill-in form to capture contact information?
  • Is contact information easy to find?

If you can’t answer yes to all of these questions, you may be losing potential customers.

Rich, Valuable Content

Potential customers may seek out your website for basic information; they will keep coming back if you have content they can use. Most people will stay on a web page for fewer than 15 seconds; if you don’t give them new information, or solve a problem, they will move on. Well-written content with a strong lead that addresses a specific, important issue is a powerful tool.
Developing and an effective insurance marketing strategies plan is an important component of building your business, and one that will continue to pay dividends from the moment it is implemented.

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A New Definition for Insurance Coverage

The captive insurance definition is generally accepted as a group of business owners who want to come together to form an insurance group to provide coverage for themselves. This is similar to self-insuring and can allow the owners of the captive to keep the underwriting profits and the income from their investment.

Types of Captives

There are different kinds of captives and each has its own benefits.

A Pure Captive or Single-Parent Captive

In this scenario, the captive is owned by a single company. That company is providing coverage for itself and any affiliates it may have.

Protected Cell Captives

Each member in a protected cell captive is separated legally. Generally, this type of group can have a lower set up cost and lower cost to maintain.

Rent-a-Captive

A rent-a-captive is exactly what it sounds like. A separate party owns the captive and business owners then rent coverage as they need it. This is often the starting point for a group to eventually form a captive insurance group of their own.

Agency and association captives and risk retention groups are several other options a business owner has when deciding which captive is right for their business’ needs and goals.

The captive insurance definition is diverse. There are many benefits to this type of insurance coverage, and, it often provides a more cost-effective solution to business owners looking for alternatives to the traditional insurance market.

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A Comprehensive Plan To Protect Your Financial Institution

In a time in which financial institutions find themselves increasingly in the cross hairs of liability challenges, effective insurance for banks has never been more important. Choosing a package of insurance products that ensures total coverage is a crucial step toward long-term security.

A Three-Pronged Strategy

With new threats emerging daily, financial institutions require the expertise of a broker specializing in bank insurance. An insurance bundle covering three main areas is a good start:

  1. Cyber Liability. More and more, banks are exposed to cyber risks resulting from data loss, customer identity theft, fraud or extortion. In April 2018, federal bank regulators released a statement strongly encouraging banks to consider cyber insurance as general liability policies do not offer protection from cyber claims.
  2. Professional Liability. Banks are particularly vulnerable to claims of negligence, wrongful acts and errors on the part of employees and officials. Several policy and endorsement options exist that specifically protect financial institutions from such claims.
  3. Crime Insurance. Few businesses are more susceptible than banks to debilitating exposure to criminal acts. Wire fraud is particularly rampant and ranks as perhaps the most dangerous new threat while an old one—employee dishonesty—will always be a serious problem.

Now more than ever, effective insurance for banks is essential to the long-term health of a financial institution. A comprehensive package of coverage is targeted to provide full coverage in a challenging environment.

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