Posts by phillip@layrins.com
Business Insurance and the COVID-19 Coronavirus Pandemic
Layr is closely following the effect of the coronavirus disease (COVID-19) on small businesses across the nation. We know many of our customers and small business owners have questions about how their business liability insurance might respond as they are impacted by this public health emergency. Additionally, we’ve published a crisis communication guide for business…
Read MoreWhat is a Wholesale Insurance Broker?
An insurance broker is an intermediary between the insured and the insurance companies, or carriers, providing the insurance. But what distinguishes a retail broker from a wholesale broker? Additionally, what are the advantages and disadvantages involved in using a wholesale broker? Below, we will answer these questions to help you understand the role of a…
Read MoreIs Business Insurance Tax-Deductible?
If you own a for-profit business, ordinary and necessary business expenses can be deducted from your taxes, including the cost of insurance. In this context, an ‘ordinary business expense’ is one that is common within your industry. A necessary business expense, as defined by the IRS, is both “helpful and appropriate” for running the business.
Read MoreThe Difference Between Admitted and Non-Admitted Business Insurance
If you’re at all familiar with the process of shopping for insurance for your business, it’s likely you’ve seen the terms “non-admitted” and “admitted” relative to how insurance carriers are classified. For the purposes of this blog post, the terms admitted and non-admitted refer to how a particular insurance company is regulated by individual state…
Read MoreIs the Insurance Industry Dying a Slow Death?
Insurance is one of the oldest industries in existence and accounts for roughly $1 of every $4 spent in the United States. Despite its dominance, stability, and longevity, as an industry, young people increasingly write it off as a potential career path. We believe insurtech can help reverse this trend and change the way young…
Read MoreThe Difference Between Cyber Liability and Technology Errors and Omissions Insurance
Our customers frequently ask us What’s the difference between Cyber Liability and Technology Errors and Omissions Insurance? This article answers that question and takes it a step further; we’ll explain the differences between the two policies and why it benefits your small business to combine them. In the past, we’ve written several times about each of…
Read MoreMaking Sense of Cyber Liability Insurance
If you own or operate a business, you are likely aware of the laundry list of digital risks and threats your business faces every day. Increasingly, it seems as if every couple of months, a large, mainstream company shares news of a data breach or security leak. As a business owner, you’ve probably spent time…
Read More5 Things to Know If Someone Is Injured at Your Photography Studio
While some photographers are used to working on location or at venues, many operate a photography business out of a photography studio. Whether you operate a studio out of your home or out of a dedicated commercial space, your company faces a unique set of risks and should prepare for those risks accordingly. One of…
Read MoreThe Pitfalls of Buying Cyber Liability Insurance From Companies That Only Sell Cyber Liability Insurance
Innovation in insurance is exploding. Like us, other insurtech startups are developing technologies to bring modern business efficiencies to the insurance industry. One area in the insurtech space that is seeing more new companies than others is around Cyber Liability Insurance.
Read MoreMaking Sense of Photography Equipment Rental Insurance
Photography is an equipment-intensive profession with the tools a photographer depends on easily adding up to tens of thousands of dollars in value. From camera bodies to lenses to lighting, most photographers acquire the equipment they need over the course of their careers given the associated costs. But what happens when a photographer doesn’t have…
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