May 16, 2017

Small Business Insurance


A small business often comes with big risk; ask any business owner around. Even before the first employee is hired, you better be sure you’re covered. Fortunately, business owners have access to a variety of insurance coverages to protect their newest venture.  Here are several types of insurance a small business should consider: Commercial General Liability: No one likes a lawsuit! Liability insurance will pay for damages for which you are found liable. In the event someone claims your business has caused them harm as a result of a hazardous environment, defective product, an error in a service or disregard … Continue reading

February 13, 2017

1095/1094 Reporting- Still required?


One of President Trump’s first Executive Orders dealt with the Affordable Care Act (ACA). The title of the Executive Order is  Minimizing the Economic Burden of the Patient Protection and Affordable Care Act Pending Repeal.  It shows the intent to repeal the Affordable Care Act. However, the ACA remains in effect at this time. Therefore, reporting under the ACA remains in effect. However, the due dates were extended for some forms in December of 2016: Form 1095-B is to be given to individuals by March 2, 2017. Form 1095-B dues dates to be submitted to the IRS did not change. … Continue reading

January 30, 2017

Business Service Bonding


Have you ever thought about owning your own business, such as a cleaning service, moving company, or an interior decorator? If so, one thing you’ll want to think about is obtaining a Business Service Bond.  This bond would provide protection for the loss of your clients’ money, equipment, supplies, or personal belongings caused by dishonest acts of your employees while on your client’s premises. Coverage is dependent on a conviction in a court of law. Other types of businesses that should consider purchasing a Business Service Bond are: Subcontractors Pest Control Services Home Photographers Security Guards Repair Services Food Catering … Continue reading

January 4, 2017

6 Frightening Facts About Employment Practices Liability Insurance


Employment Practices Liability Insurance (EPLI) has become an important insurance coverage in the last few years for many good reasons. EPLI protects your business from the financial consequences of employment related lawsuits that an employee’s rights were violated. Some examples of these types of claims are pregnancy discrimination, illegal background checks, wrongful termination, harassment, and the list goes on and on. Here are 6 frightening facts about employment practices liability insurance. Businesses are 3 times more likely to be sued by an employee than experience a fire. Over the last 20 years employee lawsuits have risen about 400%. About 41.5% … Continue reading

December 7, 2016

Business Income and Extra Expense (Part 2)


Now that we have reviewed the basics and importance of business income coverage, we will now cover extra expense.  Equally as important as business income coverage and often an enhancement to the business income coverage, extra expense coverage is designed to cover necessary expenses (in excess of normal operating expenses) that a business incurs to continue operations after a covered loss. Extra expense coverage is most valuable for those businesses that cannot afford to suspend operations while their damaged property is being repaired or replaced, and are able to continue operations from a temporary location. If your business provides continuous … Continue reading

December 5, 2016

Do You Want to Buy a Rental?


There are several things to consider when deciding to purchase a rental property. You need to have money or the ability to obtain financing to purchase it. You’ll need to able to accurately project your rental income and expenses to ensure that you aren’t losing money on your investment. You also need to purchase insurance to protect your investment. While insurance may not be the first thing that you think of when deciding to purchase, it should not be the last. There is information an insurance company wants to review before deciding to offer a quote. The list below includes … Continue reading

November 30, 2016

Liquor Liability: When it’s Needed and What to do


The holidays are upon us and that means we are busy with company parties and fundraisers.  I often get asked the question from organizations that don’t serve alcohol as part of their normal operation, do I need liquor liability? The answer is usually yes; if you are selling alcohol you need liquor liability. If your business is having a holiday party for your employees and alcohol is being provided but not sold, your commercial liability policy usually has host liquor liability and you would not need to purchase a liquor liability policy. If you are a non-profit and are hosting … Continue reading

November 28, 2016

Business Income and Extra Expense (Part 1)


If you were asked what Business Income and Extra Expense coverage is, would you know? More importantly if your business suffered a major loss would you be protected, or would your business end up in financial ruin and possibly out of business? The first part of this two part series we will discuss Business Income. The second part will focus on Extra Expense. Business Income, also referred to as Business Interruption, is a property coverage that pays for the actual loss of business income (net income and normal continuing operating expenses) that your business sustains due to suspension of operations … Continue reading

October 26, 2016

Special Event Insurance Coverage


I love this time of year when the leaves start to change color. The air is cool and crisp and everything comes in the flavor of pumpkin. I also enjoy all of the events that begin from now through December.  Fall fests, haunted walks, Christmas tree farms with Santa, and kid’s activities start to pop up everywhere.  If you put on one of these amazing events and are concerned about what happens if a spectator gets injured, or you damage someone else’s property, then you need to consider special event insurance.  This is a policy that can provide commercial general … Continue reading

September 23, 2016

What Does Your Website Say About Your Business?


Summer is coming to a close and the cool fall air is creeping in.  For some, business is slowing down, and for others, it is about to ramp up.  Regardless, the change of seasons is a good reminder to review at least one area of your business, your website. This is one main area that is often neglected.  Did you have someone design a basic website quickly, so people could find you, but haven’t updated or done anything with it since?  Have you expanded or changed what you do [services or products] but haven’t updated your website to reflect that? … Continue reading

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