Risk
3 Ways to Protect Your Business Resources
What is the password to your website hosting account? Where is your domain name registration managed? Where do you go to create a new email account with your domain? Who has administrative access to your blog? If you are running a business and don’t know the answers (or how to find the answers) to these…
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What is Business Interruption Insurance?
One of the most unpredictable risks facing a business is weather damage. Hurricanes, tornadoes, and all kinds of extreme storms strike unpredictably and can cause major problems for your business. When your business facility is damaged by disasters, you frequently have to shut down for a while to deal with repairs. But even though you’re…
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Succession Planning
Most business owners want their businesses to survive after their own retirement. Survival of the business allows for the payment of retirement income and gives a sense of accomplishment to the founder. It can also be a valuable source of future income and employment for family members. So why is it that only 30% of…
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Consultant’s Corner: Company Car Coverage
Question: If our company is going to let employees drive a company car home at night, what coverage should we have in place to protect our business? While we can offer general business advice on insurance issues and you can research insurance requirements yourself, we recommend that you discuss the fact that your business vehicles…
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Types of Business Entities
Selecting a business entity is one of the most important decisions you will make when starting your business. There are many types of business entities that you can choose from, each with their own strengths and weaknesses. Go over this general overview of the different kinds of business entities, in increasing complexity, and see which…
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Replacement Cost Insurance
Question: What does the typical owner of a business expect to recover from a property damage incident? Answer: He expects to be left in the same position, with enough cash from the insurance settlement to operate his business in the same manner as before. Question: What does the typical policy provide? Answer: Settlements at “actual…
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Business Use of Your Automobile
If you are transporting supplies, products or customers you are using your automobile for business. If you’re using your automobile for business activities, you need to understand your coverage and ascertain that your coverage is both adequate and not overlapping. What’s in an Auto Policy? There are six parts to an auto policy. Your policy…
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Business Insurance Checklist- Here’s What You’ll Need
This checklist is an example of some important information that will help you and your agent determine any necessary adjustments to your current business insurance program to ensure your business is covered properly, both right now and into the future. Checklist A copy of last year’s policy Recent property appraisals List of property or building…
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Consultant’s Corner: Tax Lien Certificate Investing – Too Good to be True?
I have been told that there is an investment vehicle available through counties called a “Tax Lien Certificate,” which supposedly offers a high rate of interest and is ‘safe’ to own. I would very much appreciate any information on this subject as it appears to be either “too good to be true” or “one of…
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Directors and Officers Liability Insurance
Directors and officers (D&O) insurance is purchased to cover the CEO, COO, CFO, other corporate officers and outside directors. The coverage is specific to actions of the individuals, rather than to actions of the company. It applies whenever a claim is brought against one of the covered individuals for an action arising out of performance…
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