Posts by phillip@layrins.com

Subcontractors, or artisan contractors, are a profession that is held to extremely strict insurance requirements. This is primarily because this profession typically involves risks that can cause significant injury to people or extensive damage to property. For example, when a professional in the construction or artisan contractor industry is ready to perform their job duties, they are required to show proof…

A recent study conducted by the global consulting agency Accenture estimates that by the year 2020, 40% of America’s total workforce will consist of sole proprietor independent contractors. What this will equate to is more than one hundred million new “companies” with only one employee and each of one will be required to have the…

Insurance can be a challenging product and requires a significant ongoing commitment by all parties involved. This includes the customer, the broker, and the carrier that ultimately provides coverage. The carrier is often on the hook for a lot more money than it collects and is subject to complex regulations in each state it operates.…

Have you ever received a letter in the mail from your credit card company letting you know that they’re issuing you a replacement card because of a potential compromise of your account? Now imagine the impact if someone was actually able to steal not only your credit card number but your entire identity. This is…

Insurance brokers are a very important part of the commercial property and casualty insurance industry. They work directly with company executives providing guidance and advice around exposures and potential risks a particular business might face. These insurance professionals not only develop a comprehensive insurance strategy for their customers, but they often also negotiate the procurement of the…

Even with the technological advancement of tools like virtual meetings, business travel is more common than ever before and shows no signs of slowing down. With more employees traveling comes increased exposure for the companies they work for. Business travel insurance is designed for people who travel, primarily internationally, for business purposes. Whether for trade…

Business interruption insurance, sometimes called business income insurance, is a type of insurance coverage that can be added to existing property policies or a packaged policy like a business owner’s policy (BOP).  This policy covers the loss of income that a business might suffer after experiencing a catastrophic event like a fire or natural disaster.