Commercial Insurance

Managing Risk By Maintaining Crime Insurance

There are many areas in a business that create risk and unnecessary exposures to crime, either internally or from outside forces. By managing these problem areas a business owner can help to greatly reduce some costly concerns and therefore save his or her company an exorbitant amount of money. Crime is one of those things that every company must be aware of. Whether employees are stealing from you, or thieves, shoplifters and burglars are the culprits behind these losses, crime insurance is the most valuable solution to stem the tide of losses.

Taking adequate security measures can pay dividends

In order to avoid risk, a company must determine just what those risks are. Here are some ways in which a business can assess their risk and also determine ways to prevent unfortunate losses from occurring:

  • Installing adequate devices to control unauthorized entry onto the premises
  • Have a burglar alarm that reports to a central station or a constantly attended monitoring facility
  • Have adequate fencing and gates around the building and parking areas
  • Provide adequate exterior and interior lighting, and
  • Have adequate door and window locks and control access to premises by physical barriers and/or surveillance

Beyond this, you may also wish to require the use of company ID badges, have appropriate visitor sign-in sheets and escort procedures, have check-in and check-out procedures, and an inventory control system in place.

Your accounting department should also be closely monitored. It might be preferable if a single person oversees cash, bank deposits and inventory. Instruct the person in charge to make cash deposits frequently in order to limit the amount of cash on hand. You might also be better off if billing is independently reconciled to ensure proper charges, credits and refunds are administered.

Protection from Theft

Employees should be properly trained to handle situations involving theft and fraud.

Train staff to recognize shoplifting risks and also on the proper way to respond when a situation unfolds. They should be trained to recognize counterfeit currency, determine credit card validity, and report acts of vandalism or theft committed by employees, visitors, vendors, or contractors.

By better managing the premises through security measures, overseeing accounting practices and ensuring that deposits are regularly scheduled, a company can make great strides in reducing risk and avoiding losses that will increase crime insurance premiums.

Many Insurance Marketers Favor a Drip Marketing Program

The intention of a drip marketing campaign is to close sales, grow revenues and build your business. By implementing a drip marketing program you’ll be able to feed leads into a sales funnel eventually turning those leads into prospects and then subsequently move those prospects through the channel until they become new clients.

Most insurance marketers will tell you that the most successful drip marketing programs help to build lasting relationships, improve customer or client retention, enable you to solicit feedback from customers that can help develop product or service enhancements and establish credibility by helping you to become perceived as a knowledgeable expert.

Engaging new leads provides opportunities to make sales

Drip marketing campaigns are an opportunity to learn more about clients and prospects, get their feedback on a particular topic, and invite them to share their own experiences. It’s important that you develop content that adds value for the recipient. You may also wish to promote an upcoming event geared to provide useful information, or an educational event, such as a seminar.  A drip marketing campaign is an excellent opportunity to provide contacts with more information thereby getting them excited about attending these events.

Remember to keep messages on topic and short as this will help to keep the recipients attention and increase the likelihood they’ll willingly read future messages. Don’t send out random messages and remember that drip marketing is all about nurturing relationships with contacts.

It’s crucial that you don’t send emails that turn off potential prospects. If the message recipients believe the emails are just there to sell them they may quickly learn to ignore them altogether. What is needed is a strong communication plan that maps out a message delivery timeline that doesn’t inundate people with tons of emails. Try sending no more than one email a week.

Attempt to craft your messages so that they resonate with the individual receiving them. Be thoughtful and develop messages that are specific to each individual contact. Certainly try to mix things up and try using new messages, formats and subject lines as things progress.

Refrain from sending the same email out more than once as this is counter-productive and may have a negative impact on your credibility.

Drip marketing has a lot of appeal when done properly and can enhance the efforts of insurance marketers in every line of business.

Insurance Marketing Plan for Social Media

A social media insurance marketing plan is a great way to campaign. Most people involved in social media realize that this is an avenue that provides great opportunities to making their brand highly recognizable in their community. It’s pretty hard not to be effective when you’re constantly posting and staying in the minds of the public. This will often garner the desired results.

A few goals to keep in mind, as part of what makes for a successful community management strategy, are enhancing awareness, improving public perception, enhancing customer service and support, creating advocates, and collecting analysis and feedback. By enhancing awareness, a company is spreading the word to potential customers, while staying fresh in the mind of existing customers along with anything else that might influence existing and potential users.

 

Public perception is key to success

Having strong positive public relations helps build brand loyalty. When customers, and prospects think and feel good about your brand, they’re more likely to notice the positive aspect, which then translates into better word-of-mouth. Customers with problems or questions are engaging in online and social media communities to spread the word and ask for help or seek solutions. A good community presence provides enhanced customer service and support by answering users questions and directing them down avenues to resolve any problems or issues.

Information on how existing or potential customers feel about a product can be extremely important. Having the ability to create and identify opportunities to improve an existing product (or understanding successful enhancements for future products) can generate the desired results. By finding out what a community really wants, and understanding what they dislike, can help extend an existing product’s life, or determine how to refine and design new products more successfully.

When users learn what a product does and how to make the most out of it, they tend to be much more engaged. This requires making sure, through educating existing and potential customers, that they know how to effectively utilize it. Perhaps the biggest goal is to increase acquisition. The goal is obviously to have more people purchase or use the product.

This requires identifying what is important to clients and that knowledge can help you to create a goal-oriented community management strategy that allows you, as a business owner, to measure effectiveness as well as success. Your insurance marketing plan for social media should aim to accomplish these goals.

Import/Export of Goods and the Import Surety Bond

For clients operating in the field of importation and/or exportation of goods, insurance, surety and risk management solutions for supply chain and transportation intermediaries are the items of primary focus. A customs import surety bond is a contract used for guaranteeing that a specific obligation will be fulfilled between customs and an importer for any given import transaction. The main purpose of a customs bond is to guarantee the payment of import duties and taxes.

A customs bond is required on all commercial imports entering the US. Merchandise will not clear customs without a properly executed bond, and according to US customs regulations, a surety bonds purpose is “to protect the revenue of the US and to assure compliance with any pertinent law, regulation or instruction.”

The importer agrees to certain conditions upon posting a bond, including agreement to pay duties, taxes and charges in a timely manner, to make or complete entry of goods, to produce documents and evidence of the shipment, and to redeliver merchandise if required or requested. This also includes agreement to rectify non-compliance with provision for admission, to allow examination of any and all merchandise and reimbursement and exoneration of the US where necessary, including compliance with any special requirements on duty free entries.

 

How and when are Drawback Bonds implemented?

Whenever merchandise is imported into, or exported out of the US, a principal may be entitled to a refund of duty, what is commonly referred to as a drawback claim. There are several types of drawback claims and methods of payment, including accelerated drawback, which is the most common way to be paid. With accelerated drawback, the refund is granted before liquidation of the drawback claim. A drawback bond guarantees full repayment to US Customs Border Protection (CBP) of overpaid drawback as determined by liquidation of the drawback claim.

There are many different types of bonds, depending upon the quantity and type of transactions involved. A commonly used import surety bond is a “Single Entry Bond” that can only be used once for a particular transaction. A “Continuous Bond” can be used for an annual period and will cover all transactions within that year. They can both be used at any port of entry. Brokers should help clients determine which is the more practical solution in any given situation.

Nightclub Owners Really Need Venue Insurance

Hospitality venue owners are faced with significant risks and exposures due to the nature of their business and the services they provide. The need for venue insurance, as well as having several coverage options in place for issues related to the operations of nightclubs or other hospitality locales, is very important to their success. Nightclubs have an essential need for property insurance, along with general liability and liquor liability coverage. Consulting an agency that specifically deals in hospitality insurance is recommended since they truly understand the needs of this dynamic industry.

Nightclub owners can benefit from a vast array of policies. For example, having coverage in the form of a commercial crime policy has many benefits as it provides coverage for issues of theft, fraud, forgery, or if you are ever the victim of a robbery. The amount of damage that can be caused from one single loss could seriously hinder your ability to properly operate your business without proper amounts coverage in place.

Venue insurance for several business exposures

Aside from crime concerns, nightclub owners need to insure the large staff of workers whom they employ so they’ll also need worker’s compensation insurance that protects employees that suffer injuries on the job. Another vital coverage that needs consideration is business interruption insurance that replaces lost income if the nightclub should be forced to cease operations for any given period of time.

There are too many liabilities to mention regarding patrons who attend nightclubs or other venues featuring entertainment and alcohol, which can pose serious problems for owners. Due to the fact that alcohol is introduced into large crowds of mostly young adults nightclubs generally employ bouncers and security guards to deal with the concerns of unruly patrons. They’re needed to help control and contain crowds, and when necessary, remove drunk and disorderly patrons from the premises.

In some neighborhoods nightclub owners have even resorted to installing metal detectors to prevent weapons from being smuggled into their clubs. Doormen also are instructed to search guests for weapons prior to allowing them to enter the premises. These can be costly measures to have to take, but the consequences of allowing gunfire to create panic and pandemonium could lead to even greater tragedies occurring. For owners of nightclubs, contacting a venue insurance company to help insure against these types of issues will likely add to your success.

Grocer Store Insurance and Commonly Experienced Hazards

As a grocery store owner you’re likely to see some type of accident occurring on a daily basis. This is because food items are often stacked high on shelves and this can lead to items falling with the possibility of injuring an employee or a patron. While employees are covered under workers comp insurance you’re going to need Grocer store insurance that deals with injuries to customers as well as other liability concerns.

Common causes of injury to customers aren’t limited to items falling from up on high shelves, and includes slipping on wet floors or having run-ins with carts and other people while shopping. The list of possible hazards, while not too extreme in numbers, should be examined, with safety instructions on stacking and immediate clean up of spills duly enforced. One serious injury could be quite costly, which further illustrates the need for having the right coverage in place, but educating employees is equally important in order to promote proper safety at all times.

Head and body injuries from falling objects can also be serious, especially those involving older patrons, including retail displays, items that are difficult to reach, and other shopping-related mishaps. Shopping cart injuries are often due to ramming carts together (sometimes hands suffer injury as a result of this) or due to a cart tipping over onto its side.

Overcrowding is another source of concern when too many people crowd into a particular section of the store, which may result in trampling, or other serious injuries, and even outside of the store in the parking lot injuries can result from cracks in the pavement or insufficient lighting at night, which can result in injuries from a slew of different incidents.

Failing to fix or restore lighting, uneven pavement, and not being diligent about ensuring that displays do not pose a threat of physical harm puts you at risk for a possible lawsuit. Having a Grocer store insurance policy provides you with coverage for when accidents happen, as they eventually will at some point in time.

Protecting Your Staff with Workers Compensation Programs

You know that the stakes are awfully high for workers in nursing homes simply for the fact that they face the risk of injury due to all of the strenuous duties and tasks they perform every day. These injuries can often be the result of activities performed in their regular service to patients residing at their facility.

Various nursing home Workers Compensation Programs allow you to provide insurance to your clients that face the concern of losing staff to injuries, sometimes severe enough that they may miss work for weeks or even months. This coverage is not only mandatory, but it provides the type of financial and medical support those injured individuals will rely on during their recuperation and, with any luck, a subsequent return to the workplace.

Types of injuries covered by workers comp insurance

Provided that the injury occurs at work, or while on the job, most are covered under any standard workers comp claim. Musculoskeletal injuries are rather common, and these can often occur as a result of a simple slip and fall accident. For example, falling on a floor that was recently mopped can lead to sprained ankles, torn muscles, and even bruised tendons.

Nurses and other staff responsible for carrying residents, often in a fragile state and especially at awkward angles, can easily become injured. Such activities can result in back strains, herniated discs, and over-extension of certain muscles, plus there is the additional risk for major back problems and other musculoskeletal problems.

Exposure to pathogens and other infectious agents

The American Nursing Association estimates that as many as two out of three nurses report being accidentally stuck with needles at work. This raises concerns about the possibility that a syringe that may contain viruses, bacteria, or other pathogens could puncture the skin, and this could quite possibly put that nurse at risk for serious illness. Nurses are also asked to handle biological waste, as well as perform work with medicines and chemicals that could cause an adverse reaction.

There are also concerns about psychological issues developing. This could be due to long hours, lack of natural sunlight at some facilities, and even poor eating habits, all of which could produce any number of psychological ailments, including anxiety, depression, eating disorders, and even problems related to sleeping.

Therefore your clients operating nursing homes need the valuable protection of Workers Compensation Programs to deal with all types of issues related to the health of their staff.

CT Insurance Companies Provide Great Services

Everyone has asset protection needs, as well as reasons for deciding to purchase life, home, and auto insurance. For one thing, a life policy provides a certain amount of comfort for their spouses, children, and significant others. Parents also want to know that the money will be there for their children in the event that an unfortunate incident occurs and they are no longer around to provide care and assistance.

Auto insurance is required and helps pay medical bills and other expenses too high for the average person to deal with if uninsured. And, of course, a home policy helps with repairs and replacement when a house is damaged or otherwise becomes uninhabitable. Whatever your reason might be, most people realize that insurance helps provide overall peace of mind, and everyone has their own specific reasons why they need to contact ct insurance companies about their products and services.

 

Insurance helps greatly when a loss occurs

Whether you have a car accident, become too ill to work, or have a house that is devastated by a major storm, these three policies will come to your aid when you need it most. Personal insurance policies are a source of great relief when a disaster or accident strikes, and the cost of coverage is nothing compared to the excessive out-of-pocket expenses one might incur.

For example, no one wants his or her family to experience hardship when it is totally unnecessary. An employer-sponsored life insurance policy can be less expensive than purchasing a policy on your own, plus with group insurance from work your risk is spread across a big pool of people, so it’s easier to be granted coverage.

But many workplaces still require you provide “evidence of insurability” once you increase your coverage limit past a certain amount, and with a face value that is not likely to cover as much as you may wish, you can accomplish this by adding a small supplemental life insurance policy in an amount that would cover those final expenses.

CT insurance companies can help make your future more secure. There are agents standing by ready and willing to help. Remember that there’s no time like the present to get the coverage you need. Speak to an agent about ct insurance companies and what they have to offer you!

Three Reasons You Need Construction General Liability in Newton, NJ

As a general contractor, you have a lot you are responsible for. Your work site is often a dangerous place to be and you typically have the duty of making sure your employees are protected from those dangers. As you consider the options you have, don’t overlook construction general liability in Newton, NJ. The following are three reasons you need this coverage:

  1. Security – Instead of worrying about claims being brought against you simply for handling a dangerous job, you can do what you are best at and know you are secure if someone comes after you financially. This also gives your employees a sense of security.
  2. Protection – You need your assets to do your job, and if they are seized so you can afford a judgment, you could be put out of business. General liability protects your assets, and essentially your company.
  3. Survival – Nobody plans to have a judgment brought against them, but especially in a risky industry, you can’t be too careful. You need a survival plan to ensure your business stays intact no matter what happens.

As you can see, there are some important reasons to consider construction general liability in Newton, NJ. Speak with your insurance agent today to get more of an idea of what you can do to protect your business and your employees.

Hospitality Insurance Programs Help to Reduce Exposures

Your customers rely on you to give them a nice experience whenever they enter your establishment. Whether you run a restaurant, a bar, or a nightclub they expect to be entertained, and to be provided with a relaxed atmosphere where they can socialize after their work is all done. However, as an owner of one of these establishments, you must be prepared to deal with any number of situations that could turn a nice night out into bad situation.

A kitchen fire, food borne illness, a simple slip and fall on a wet floor can all lead to injuries and perhaps a lawsuit. There are many serious considerations that require you to contact any number of hospitality insurance programs before you open your doors for the first time. The time to get coverage is before you actually need it. This is especially true for an industry stemming with issues resulting from alcohol consumption, which is unique to a small sector of businesses.

Hospitality venues require coverage for several concerns

Insurers often devote an inordinate amount of time studying the legal issues that operators and owners of these types of enterprises have to deal with. They take a sincere interest in determining the inherent exposures that you may face and try to find viable solutions to these risks and exposures.

These are the sort of issues that require insurance agents and brokers who cater to this industry to take an in-depth look, because without a specialized approach to managing hospitality locales, your hospitality insurance coverage could be filled with gaps, and that could potentially leave you underinsured at the worst possible time.

You need to take the time to meet with your agent and thoroughly review every aspect of your business in order to determine the broadness of coverage required. This will certainly help ensure that you are fully covered for any and all occurrences. This will also help to promote the type of relationship and services expected from your broker.

The hospitality industry faces new and growing challenges every day. These challenges must be met head on, and finding solutions to your own unique circumstances will help to complete the process. Most importantly, you’ll need to continue to operate in this competitive industry to the best of your ability, and securing coverage from hospitality insurance programs will help you to accomplish those goals.