Along with crazy times in our world, we are in the midst of some crazy times in insurance. In many lines of coverage on the business insurance side of the house, we are in what is referred to as a “hard market.” This means more often than not, increased premiums – two words our insureds never want to hear. Directors & Officers Coverage, Employment Practices Liability, Medical Professional Liability, Business Auto, Property, Umbrella – truly seeing increases on average of 15% + across the board as rates go up. We expect this trend to continue on well into 2021. A hard market can also … Continue reading

Traveling for business, pre-COVID, was a simple matter. Employees and businesses made travel arrangements almost daily and did not think twice about it. The COVID-19 Pandemic has not only changed the way individuals are going to travel, but businesses as well. With new restrictions and health protocols for flying being implemented around the globe, businesses may look to potentially outsourcing air travel for their employees to specialized companies, or even employees who may have access to personal aircraft. If your business is considering either one of these options, it should also look into putting a non-owned aircraft liability in place. … Continue reading

There are multiple coverages that a trucking / transportation business has to have to ensure proper coverage. Business auto to cover the vehicles while they are on the road, workers compensation to cover your employees while they are working, and motor truck cargo to cover the goods of others while you deliver them are probably some of the most obvious ones that you would think of. However, to make sure your business is properly covered in the event of any loss, you must take a look at all lines of coverage to address all risks. One area of coverage that … Continue reading

You own a business, and you want to start contracting out some of your hauling and logistics to a local trucking company. You reach out to several companies to get quotes, but you want more information on who you are going to be in business with. You really want to see how the companies stack up against each other in terms of safety, but are not sure where to find that information? Well, you are in luck! The Federal Motor Carrier Safety Administration (FMCSA) operates, and maintains, a website where the public can research basic information about any registered motor … Continue reading

When I first heard the term “Inland Marine Insurance”, I thought it sounded like an oxymoron.  How do you have insurance for marine items that are “inland”?  In fact, inland marine insurance almost fits that line of thought.  It is insurance for a wide assortment of specialized property made for land, not for oceans or water-travel. Inland marine insurance is a type of business property insurance that can include coverage for scheduled items on a policy, and it can also include a general limit for many items that fall under the same category.  This is often included on policies for … Continue reading

Many people have heard of a “notary” or have needed a document “notarized”, but what does that really mean or entail? Well, let’s start with what a Notary Bond is. It is a legally binding contract guaranteeing the Notary (the person authorized) will complete tasks ethically while abiding by the law. If a notary does not adhere to the law, a claim can be made against the bond by the issuing state or those harmed as a result of the notary’s actions. If the claim is valid, the bond amount is used to indemnify the harmed parties. This protects the … Continue reading

If you own a business and work near navigable waters, it is very likely that you need Longshoreman coverage.  This coverage is for your worker’s compensation policy to protect your employees who work on or near navigable waters of the United States, including employees working in any capacity near the water.  Working near the water can include anything from loading and unloading a vessel, doing work on a vessel, repair work, construction, and much more. The Longshore and Harbor Workers’ Compensation Act (LHWCA) is similar to the Jones Act, but it was created for a different category of workers.  It … Continue reading

In today’s insurance world for Michigan, auto insurance is a big question mark looming in the distance.  Lawmakers and insurance carriers are currently deciding how everything will fit in place with the new auto insurance laws coming into effect July 2020.  The changes will influence both personal and commercial auto insurance, and no one has concrete answers on all of the details quite yet. If you own a business that possesses autos, most likely you have a business auto insurance policy.  No matter how many vehicles are on the business auto policy, if you or other employees use them for … Continue reading

If you own a business, you probably have insurance policies for general liability, property, auto liability, and possibly workers’ compensation if you have employees.  However, there is one standard liability policy that is sometimes overlooked – umbrella liability.  No, it’s not insurance for those things you hold over your head when it rains, but much like those types of umbrellas, umbrella liability policies provide extra coverage. Commercial umbrella liability policies offer an extra layer of protection for businesses with claims against bodily injury, property damage, and other liability claims.  The policies are designed to extend coverage when your business’ general … Continue reading

Your business has been approached by a local contractor with an opportunity to transport the contractor’s equipment from job site to job site for the next year. The opportunity is a great one. It will ensure that you will have a positive cash flow, and work for your employees, for at least the next year without any interruptions. You are reviewing the contract requirements, including the necessary insurance requirements, and you come across an insurance coverage you have never heard of; motor truck cargo insurance.  You wonder to yourself, what is motor truck cargo insurance, and do I have that … Continue reading