Professional Insurance Archives | Page 7 of 12 | VAST
October 30, 2015

Fire Prevention and Preparation

Even though we are nearing the end of October, I wanted to honor fire prevention month with a few tips to help keep you safe. I recently attended my son’s school field trip to the fire station, and learned a few things along with those kindergartners. Did you know you are supposed to check your fire alarms once a week and change the batteries once a year? Pick a day of the week that you designate to checking the fire alarms and choose a day you will remember to change your batteries, such as your birthday. Also, check with your … Continue reading

October 20, 2015

Equipment Breakdown Coverage and Why You Need to Have It

Do you use equipment during your business day? I know I do! While sitting at my desk writing this blog I can see a lot of equipment that could be susceptible to breakdown. I have a computer with three monitors, a phone, and a printer at my desk. I can also see a large color copier/scanner/fax machine, and I know that if that printer broke down, there would likely be a large repair or replacement invoice. Equipment breakdown coverage applies to many different types of equipment, and a variety of failures and causes. It can pay for direct damage to … Continue reading

October 16, 2015

The Basics of Commercial Insurance

If you are staring a new business, there are many things to think about and usually commercial insurance is last on the list. Here is a very simplified guide to the basic coverages to consider. 1. General Liability: Every business should have Commercial General Liability Insurance. There are three basic coverages General Liability provides: Bodily injury:  This is your basic customer slips and fall type of coverage. For your General Liability coverage you have to be negligent in some way (did you properly clear the sidewalk). However, most General Liability policies have what is called Medical Expense coverage. This is … Continue reading

October 9, 2015

How Can Contractors Afford to Not Put Safety First?

The bottom line is, you can’t. There are a number of reasons why safety should be your main priority. First, you care for your employees and their well-being is of the utmost importance. They should leave the work site in the exact same condition they showed up. Second, safety is more of a priority these days when companies are choosing which contractor to hire. There has been a cultural shift that has happened over the years. In the past, when companies would look at hiring a contractor for a job, they would look at quality and what the bottom line … Continue reading

October 7, 2015

TOSS – Making a Good First Impression

I read somewhere that it takes just one-tenth of a second for us to judge someone and make a first impression. The same rings true when we approach an insurance company to price a piece of business for one of our insureds or prospective clients. As a business owner, you want to be sure you are presenting yourself in a good light with insurance companies. We have found out time and time again it does make a difference when it comes to your premium, or the number of options you will have. As Director of Account Marketing here at VAST, … Continue reading

September 30, 2015

Do I Need Workers’ Compensation?

I receive many inquiries from businesses asking if they need to purchase workers’ compensation coverage. In Michigan, private employers are required to purchase workers’ compensation if there is one full time employee or three part time employees. Agricultural employers must purchase it if they employ 3 full time employees. Households with domestic workers must purchase it if they have one full time employee and all public employers are required to purchase workers’ compensation. I’m often asked if it is still required if they hire “independent contractors” which receive a 1099 versus a traditional employee who receives a W-2. The answer … Continue reading

September 23, 2015

Importance of MVR Checks

In this ever changing environment, it is imperative businesses focus on risk management. One way a company can do this is by completing pre-hire screening of prospective employees. This includes running MVR checks, especially when driving is necessary for the job. It is recommended this happen prior to hiring any new employee and allowing them to operate a company-owned or leased vehicle, or prior to them using personally owned or leased vehicles on company business. This should be done annually for each driver, and after any incident. This is very important because an individual will be excluded from coverage under … Continue reading

August 24, 2015

EMV Chip Credit Cards and Retailers – What you Need to Know

The shift is on – after way too long of a delay, the U.S. will join the rest of the developed world and make the transition to EMV (Europay, MasterCard, Visa) microchip containing credit cards. Depending on whom you choose to do your banking with, you may have already received your updated credit cards that contain these chips. The switch is being made predominantly for security purposes as the outdated magnetic stripe cards first introduced in the 1970’s are easily duplicated and stolen. The new cards will change the way your point of sale transactions will occur, and the level … Continue reading

August 10, 2015

The Ugly Truth about Cyber Liability

As we speak, criminals are out there planning their next cyber liability attack. Unfortunately, we hear statements far too often such as, “Our business is too small to be a target.” “We have coverage under our general liability.” “We are using the latest/best technology and software to protect our business.” Truth of the matter is businesses of all sizes are susceptible to such malicious acts. It is critical that businesses and their staff understand the significance a single loss could have on their company. Take for example the UCCLA Health massive data breach, which compromised medical records of up to … Continue reading

March 19, 2015

What is the definition of ‘disability’?

Over the past five years I have discussed disability insurance with hundreds of individuals and businesses.  I believe that there is a problem with how these types of benefit programs are being presented.  I know that cost matters, but I firmly believe consumers should be making an informed decision.  The spreadsheet is an example of what many consumers are presented with to make their decision.  It answers a few questions, but mainly shows what the cost will be.  How will the consumer know which program will perform best if the only difference is cost? THE DEFINITION OF DISABILITY IS THE … Continue reading

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