Do E-Commerce Companies Need Product Liability Insurance?
In today’s litigious society, e-commerce companies need foresight to see potential risks before they occur. One potential exposure for companies that sell goods to customers is product liability risk. If a product fails or causes injury to a buyer, then the manufacturer is usually at fault. But what about e-commerce companies? Countless online companies sell…Read More
What 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 More
Is 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 More
What Kind of Insurance Do Small Businesses Need?
Small businesses are the foundation for future economic success; they bring forth the innovation that increases efficiency in our evolving world. However, figuring out when to get your first Commercial Insurance policy and which policy is the best fit for your company’s unique operations can be confusing. To help demystify the process of shopping for…Read More
What Insurance Do Subcontractors Need?
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…Read More
What Insurance Do Independent Contractors Need?
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…Read More
Can a Business Insurance Policy Be Cancelled?
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.…Read More
What is Identity Recovery Insurance?
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…Read More
What Do Business Insurance Brokers Do?
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…Read More
What is Business Travel Insurance?
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…Read More