How Does Green Construction Affect Insurance Costs?

In the next three years, developers expect 60 percent of their projects will be green. The market for green construction projects has grown significantly in the last 10 years and demand for green building activity is poised to grow substantially — to double in some regions, according to a report issued December 2018 by Dodge Data & Analytics. In fact, …

7 Ways to Improve Company Driver Safety

If you have trucks to provide service offsite or to deliver products, you probably either have dedicated drivers or at least many of your employees spend a substantial amount of their time on the road. Here are seven tips for improving safety and reducing costs through company driver safety: 1. Make sure your drivers have safety gear on board. Stock …

“Need to Have” Liability Insurance Coverage for Every Business

There is liability insurance coverage that all businesses need, some that all business should consider, and some that you need only if you have special risk exposures. Need to Have Commercial general liability (CGL) is essential for every business. It will pay your legal costs, along with any judgments or settlements, when you are legally obligated to pay another party …

Top Causes of Financial Loss in the U.S. and the World

The largest financial losses worldwide come from fires/explosions and aviation incidents, according to an analysis of the Top Causes of Loss of 470,000 Insurance Losses Around the World by Allianz Global Corporate & Specialty (AGCS) Insurance. Here are a couple of other quick takeaways from the claims review: Increased Litigation Costs  In general, litigation is involved in far more liability …

Do You Need Professional Liability Insurance?

Unless you’re an attorney, doctor or accountant, it might not be obvious that you may need professional liability insurance. Forty percent of businesses believe they may have professional liability risks but have not purchased insurance, according to a recent survey of small business owners by The Hanover Insurance Company. Over the past twenty years, there have been many changes in …

Don’t Be a Fake Accident Victim

Auto accidents cost hundreds of billions of dollars each year and in some places, like New York City and Los Angeles, nearly one out of three accidents may not be an “accident” at all, according to the National Insurance Crime Bureau (NICB). Here’s what you need to know about fake accident strategies. In one type of fake accident, dishonest drivers …

Fire Prevention Safety Tips

Smoke detectors and fire extinguishers are important, but the best way to fight a fire is to prevent it from starting. Read the fire prevention tips below to learn more.  When it comes to fires, residential fires come to mind first. But commercial properties are also vulnerable. The National Fire Protection Agency reported 113,500 non-residential fires in 2015, the latest …

Active Shooter Insurance Now Available

Sadly, active shooter incidents have become so common there is now an insurance market to insure the liability of the impacted entities. Read on to learn about Active Shooter Insurance. Incidents involving an active shooter, defined by the FBI as “one or more individuals actively engaged in killing or attempting to kill people in a populated area,” have been increasing …

Why ‘Side-A’ Is Critical if you’re a Director or an Officer

There are three parts to a D&O Policy—Parts A, B, and C. In recent years, exposure to Part A / Side-A risks have increased dramatically. To protect themselves, anyone considering joining a board of directors should find out the extent the corporation will indemnify them for results of any decisions they may help make while serving. Indemnification is just a …

How a Business Income Worksheet Helps You Rebuild after Disaster

An estimated 70 percent of companies that undergo a major loss eventually go out of business, because they failed to plan for the disaster. Proper planning includes completing a business income/extra expense worksheet. Business property policies usually include business income and extra expense coverage. This valuable coverage reimburses you when a property loss (covered by your policy) causes you to …