Risk
Electronic Data Processing (EDP) Coverage
Electronic data processing (EDP) exposures are simply not addressed in an adequate fashion by a standard property insurance policy. Electronic data processing equipment and software are particularly susceptible to: Damage from electrical or magnetic disturbance Changes in temperature or humidity Perils which are excluded in a standard property policy Coverage for custom software is often…
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Structure of an Insurance Policy
Policies are designed with the following objectives: Providing coverage that is attractive in the marketplace Limiting risks to those that can be actuarially quantified Spreading risks over a large pool of policy holders Rating (pricing) policies based on quantifiable risk factors Controlling the cost of claims management and settlement The underwriters are responsible for approving…
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Why Investing in Real Estate is a Winning Retirement Strategy
When most people think about the term “investing” there a couple other terms that quickly come to mind. Stocks, bonds, portfolios, diversify. The thought of owning their own rental property for some reason seems foreign, as many people who are looking to invest their money rarely consider it. But why not? There are several reasons…
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A Window into the Mind of a Cyber Criminal
Did you know that 71 percent of security breaches target small businesses? In this one hour webinar on Wednesday, November 4th at 11:00 am ET, you can find out how a cyber criminal thinks, why they do what they do, and how to better protect your business from them. Rolan Cloutier, the Chief Security Officer…
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The Financial Cost of Getting a DUI
Most people don’t think about how costly getting a DUI could be because nobody ever plans to get a DUI. We plan for retirement, we plan for our kids’ education, but it is absurd to contemplate setting aside funds for the unlikely event that we might get a DUI. In addition to the financial costs,…
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How Does the Incorporation Process Differ in Canada?
The incorporation process in Canada is quite similar to the United States. However, two differences are apparent. First, Canada has a federal corporations statute that allows businesses to be incorporated as a Canadian corporation (as opposed to a provincial or state corporation). Second, provincial corporation laws are generally similar to one another (except Quebec), and…
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To Succeed You Must be Willing to Fail
There is no cookie-cutter solution to life. There’s no silver bullet, no magic button you can press that fixes every problem, provides every answer, and guarantees success. The reality is that there’s no way you can be certain you have everything right (if it even were possible to have everything right to begin with); the only…
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Life Insurance
Life insurance pays a “face amount” to the beneficiary of the policy upon the death of the insured person. The purpose of life insurance is to fund the needs of anyone who would suffer from the loss of your income resulting from your death. Life insurance is used to satisfy both business and personal needs.…
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Insuring Your Business Property
A small business is almost always better served with an “all-risks” policy than with a “named peril” policy. The named peril policy will cover risks that are specifically enumerated in the policy, whereas the all-risks policy will cover risks that are not excluded. With the all-risks policy, business owners don’t have to manage duplication of…
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Product Liability
There are a number of risks facing your business, many of which you might already be very aware of. Another risk that is increasing rapidly in recent years is product liability. Manufacturers and retailers confronting this issue have had to increase the costs of their goods and services in order to pay the price for…
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