Monthly Archives: February 2015

New Jersey Insurance

New Jersey Insurance

When most people get a quote for their business insurance, they want to pay as little as possible for the protection they need. Sadly, insurance isn’t free, and it is important to get the right coverage. However, simple mistakes can increase the cost you pay for your New Jersey insurance.

Classifying Workers Incorrectly

It is important to properly classify your workers on your insurance policy. This is particularly important with worker’s compensation coverage. If you do not classify the workers correctly, your premiums might increase. In addition, make sure that you are separating independent contractors from actual employees on your policy. Sometimes it can be difficult to determine what type of worker someone is. If you are unsure, make sure to talk to a professional so you don’t overpay on your New Jersey insurance.

Paying for Coverage You Don’t Need

A lot of businesses pay for insurance they do not need. Insurance is important to protect yourself. However, make sure you are not paying for something you will not use in the future.

Failure to Implement Low Cost Initiatives

Finally, there are easy low cost initiatives that can decrease the cost of your insurance policy. For example, an alarm system or security cameras minimize your risk of theft and can also decrease the cost of insurance.

If you are guilty of these mistakes, it might be a good idea to talk to an insurance agent.



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Employment Practices Liability

Protect Your Staffing Agency With Employment Practices Liability Insurance

Protecting your staffing agency requires securing suitable insurance to make certain coverage is complete. One such policy all staffing agencies must have in place is employment practices liability. This coverage can help counter claims afforded to an employer by its employees, which in many cases can have very serious affects.

What Is Employment Practices Liability?

If an employee believes a violation of rights have occurred, legal action may be initiated against an employer. The resulting lawsuits can prove extremely damaging to a business, especially when dealing with costly defense fees and the like.

In this event, an employment practices liability policy can be essential to remaining financially stable in the face of legal turmoil. This policy can cover court costs, which is highly important when attempting to continue operations while also dealing with ongoing legal issues.

What Does It Cover?

Allegations of employee rights violations can include a number of incidents. Common claims often involve allegations of discrimination and harassment, while wrongful termination/discipline can also play a role. An employee may also allege they were prevented from receiving promotions for which they were qualified, as well as claiming evaluations were conducted in an unsatisfactory way.

Coverage When You Need It Most

A single lawsuit can be extremely damaging to even the most successful of staffing firms. That’s why implementing dependable insurance coverage is so important. With the right policy in place, you can rest assured that your firm will remain intact no matter what.


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Insurance Coverage for Cyber Exposure

Insurance Coverage for Cyber Exposure

In our technology-based modern economy, any business in any industry could find itself the victim of a cyber attack. If your company stores any personally identifiable information on clients or employees, you could be vulnerable to identity theft and data breaches. Insurance is vital to protect yourself against cyber exposure.

Stored Information

Many companies gather information on their clients and employees which can be at risk in the event of a cyber attack. Valuable information that could be compromised includes:

  • Bank account numbers
  • Tax identification and Social Security numbers
  • Contact information
  • Credit card numbers
  • Medical histories

Potential Problems

Companies that are attacked can be subject to a number of disadvantages, including liability concerns and damage to their digital infrastructure. In addition, many states’ laws mandate that businesses notify or provide free credit monitoring to those whose information was compromised. In addition, public images can often take a severe hit in the wake of an attack, and sales may drop while PR and marketing spending must be raised to compensate.

Coverage and Protection

This is why insurance to protect your business is so important. A cyber attack can devastate a business, and coverage is necessary to help cover the costs of a breach. Getting a good plan can help cover your cyber exposure, protecting you if things go wrong and providing peace of mind. Privacy & network security coverage is an important component of any corporate insurance plan.


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Provide Excellent Service With ISO Business Partners

Keep your promise to your clients with comprehensive software from your ISO business partners. Your brand depends on delivering what you say you will. Having the most current rates and statistics in your software is important to the services that your clients deliver. Whether you need a simple desktop program or complex rating engine, tailored software is a key to your success.

Your rating system should be unique to your brand. Whether you are an MGA, program administrator, or insurance company, the software you offer to your clients should interface seamlessly with your own brand. The technology works behind the scenes to offer the great customer service that your users deserve.

Make your system more efficient and convenient with ISO business partners who understand and respect your business. Integration of your brand and needs should be at the heart of every decision you make. Find the solutions to wasted time by having one suite of software that gives all the information your clients want in one place. Then export the information to a document for printing or electronic delivery.

No matter which commercial products your clients focus on, you’ll be able to provide them with the ratings and data that they require. It will be your brand that they see and depend on, but you’ll have the partners that you can rely on in your back pocket. Deliver high performance to your clients with customized software that meets your requirements.

Professional Liability Insurance for Consultants

When Should You Have Consultant Professional Liability Insurance

How do you know if you need professional liability insurance for consultants? Here’s a simple test. Answer these questions. Do you provide advice to your clients? Do you charge for your service? Are you required by law to have insurance? Answering yes to any of these questions means you need to protect your business against the damages of lawsuits. You may have the best clients in the world, but that doesn’t mean they won’t turn against you if your advice goes south.

An errors an omission policy protects you in cases of negligence, whether or not you have actually made a mistake. It can also protect you against the mistakes of others in your employ. You can obtain worldwide coverage, so if you have international clients with different values and expectations, you know are protected. Don’t forget to cover past work with a retro-active policy.

Many claims may not even have any basis, but that does not negate the costs of your defense. You still have to provide experts to back up your actions and pay for your defense attorney who negotiates on your behalf. Professional liability insurance for consultants covers those costs and leaves you free to focus on your business. Talk to an insurance specialist who understands the needs of a consultant in your industry. Get tailored coverage to make sure your activities are covered in the event of a costly lawsuit.


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Insurance for Consultants

Protecting Your Business

Professional consultation is a valuable resource that is used by many different businesses. No matter what your area of industry is, it can always be helpful to have someone with specialized knowledge provide assistance. They can use their specialized knowledge to offer advice on challenges the company is facing. At the same time, human error cannot be totally eradicated, and a mistake can have greater repercussions throughout the company. This is why any company with consultants needs protection in the form of insurance for consultants.

No one is immune to claims of damage, but having the right policies can help save you in such a situation. A quality insurance company can provide your business with a comprehensive professional liability plan. This program should cover both the consultant and their clients from the damage that can arise from certain mistakes. Your provider can protect both your financial and personal security in the event of a claim.

A business is not complete without all the proper protection. Damage claims can result in serious financial setbacks that a business may not be prepared to handle. However, with a thorough coverage plan, there will be a lot less to worry about for everyone involved. Professional consultants are vital in many lines of work, but no matter which you are involved with, the right provider will have you covered with policies designed to fulfill your needs.


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Caitlin Morgan Insurance Services

Which Captive Solution Would Benefit Your Business?

If your business isn’t able to get insurance coverage through traditional markets due to the increased risks associated with it, captive solutions may be the best insurance option available. Caitlin Morgan Insurance Services has long been a leader in providing quality solutions for its clients. It offers a variety of coverage options to fit almost any business’s needs.


Captive Solutions


Some of the solutions available through Caitlin Morgan Insurance Services include:


  • Single Parent Captive – This is one of the most popular types of solutions offered. It’s ideal for businesses that want to improve cash flow, control their risk, and minimize insurance costs.
  • Risk Retention Group – Under this option, business owners are both policyholders and part owners in a liability coverage cooperative. The group works together to support each other in times of need.
  • Protected Cell Captive – This solution allows business owners to retain control of their risk while ensuring that they have adequate funds available.


Determine Your Solution


It’s wise to take steps to protect your business from the financial consequences associated with increased risk. Fortunately, there is a wide range of options available for businesses that are constantly turned away by the traditional insurance market. Working with Caitlin Morgan Insurance Services to determine which captive solution would best suit your business will help ensure its financial future. Don’t let another day pass without devoting some time to captive solution research. Your business’s financial health depends on it.


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Staff Insurance

Staff Insurance Provides Compensation to Injured Employees

Nearly every state requires businesses to have workers’ compensation insurance. This type of staff insurance covers medical costs and lost wages for employees who were injured on the job. If you need to acquire coverage, you can contact an insurance company, and a representative will craft a policy that works for your business.

What Workers’ Compensation Insurance Covers

If one of your employees is injured at work, workers’ compensation insurance will cover:

This type of insurance also protects your business in the event an employee sues it for poor workplace conditions. Coverage is also available for employees who are injured outside of regions where your business normally operates.

Basics of Workers’ Compensation Insurance

In general, workers’ compensation insurance only provides coverage for injuries that resulted from duties performed while at work. For instance, any injuries caused by lifting heavy equipment or slipping on a wet surface would be covered. Most policies will not cover injuries that occur during an employee’s day off from work.

Create a Policy That Works For You

The cost of insurance depends on what you want your policy to have. If you are unsure about the level of coverage you need, you can speak with a representative at an insurance company. He or she will compare premium costs with you and create a staff insurance policy that is appropriate for your business.


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Independent Insurance Agents of Connecticut

Crucial Questions to Ask Your Auto Insurance Agent

When you turn to a team of independent insurance agents of Connecticut for auto insurance, you probably want to acquire the insurance you need and then go on with your day as quickly as possible. However, to ensure that you are adequately protected, its essential that you ask your insurance team several key questions before you go back to work, school, or your daily activities.

How Much Coverage Is Needed?

Not every driver needs the same amount of auto insurance. For example, if you make a daily commute that exceeds 50 miles, you will probably need more coverage than your neighbor who only uses his or her vehicle to run errands. Your team of independent insurance agents of Connecticut can help you determine what type of policy is right for your needs.

What Factors Impact the Premium Rate?

There are many different factors that affect how much you pay for car insurance. These not only include how much you drive, but what type of car you drive, your driving record, your marital status, gender, and more.

What Will it Cost to Add Another Driver?

Instead of purchasing two separate policies, one way to save money on your car insurance is to combine your coverage into one policy. Your insurance team can help you understand what it will cost to do this and any implications of insuring two drivers under one policy.


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