Monthly Archives: January 2016

Who Needs Commercial Liability Insurance?

Whether you are starting a new business or have been in business for several years, it is important to invest in commercial insurance. There are a variety of different policies available to minimize your risks and protect you financially. Commercial lability insurance, in particular, is an significant policy for many different industries.


Although most people think of attorneys as the people fighting insurance claims, these individuals also need insurance. In the event of legal malpractice or other conflicts, professional liability coverage can protect today’s attorneys. This coverage also helps safeguard an attorney’s reputation in the event of malpractice.

Real Estate Agent

Many real estate agents carry commercial liability insurance. A liability policy can provide protection in the event of a mistake. These mistakes happen more frequently than many people realize Ð especially with the increasing complexity of real estate contracts.

Mortgage Brokers

Like real estate agents, mortgage brokers can also suffer financially in the event of a mistake. An insurance policy that protects against errors and omissions can minimize the long-term damage from any mistakes.

If you own a business, it is important to protect your company with the right insurance. Liability coverage is especially important for professionals, and it offers many benefits. Contact an insurance agent today for more information about this important policy.

What to Look for in a Business Insurance Provider

Sometimes you might find the insurance world to be confusing. It doesn’t have to be that way. You should feel confident and at ease while you’re working with your insurance provider. Getting the New Jersey business insurance that your business needs doesn’t have to be a painful process. Learn the signs of a good insurance provider in New Jersey.

Good Providers

The right insurance company will value you and your company. They will do whatever it takes to get you the coverage you need. This includes:

  • Giving you a quote.
  • Performing an evaluation.
  • Filling the gaps of your coverage.
  • Finding where you are over-insured cutting costs.
  • Providing coverage for small businesses and large corporations.

Not all insurance companies are created equal. When you’re looking for New Jersey business insurance you better not settle for less. Keep an eye out for these signs and you’ll be on the right path to getting the insurance plans you need.

Get Covered Now

There’s no time to waste when it comes to getting business insurance. There are numerous risks out there that you are vulnerable to without coverage. No matter how big or small your business is you need the proper coverage. Sign up for New Jersey business insurance today.

Professional Liability Insurance Covers a PEO

A professional employer organization, or PEO, offers a service an employer can use to outsource certain employee management tasks. These include recruiting, payroll, employee benefits, training and development. The PEO also becomes the employer of record for tax and insurance purposes, a practice known as co-employment. Coverage for PEOs is extended under Professional Liability Insurance (Errors & Omissions).

How Staffing Firms Fit Into the Picture

Staffing firms recruit employees for specific positions that need to be filled within their client companies. In a PEO arrangement, the PEO then assumes employer responsibility for the taxes, benefit plans and other human resources programs for these employees. PEO insurance provides coverage for the services they render to the clients and for defending claims that arise out of the actions or activities of PEO workers.

Coverage Begins With Staffing Firm Protection

The professional liability policy protects the recruiting agency from allegations of financial loss relative to the placement of contract workers and the services they provide. Both blue- and white-collar workers are covered. Included are professionals such as engineers, architects, accountants, attorneys and IT experts. PEO insurance is designed with the diversity of the staffing industry in mind and includes coverage for temporary employees. Coverage is also available for claims brought anywhere in the world.

Select the Right Directors and Officers Insurance Provider

Especially with insurance, the product is only as good as the provider. Therefore, when selecting insurance to cover directors and officers for private companies, there are a few characteristics and traits that you should be looking for.

  1. Notoriety – A quality insurer will have some notoriety to back them. They should be known within their industry as well as the community. A few things you can look for include:
    • Awards and recognitions
    • Associations
    • Events or charities they support

    If they display these things, then they have a certain positive image that they display and would want to keep up. Therefore you can expect a certain quality of coverage.

  2. Quality of Products – A quality insurer would want to carry superior products to maintain a positive image. Therefore, a trustworthy insurer will provide quality coverage that goes beyond the average coverage options and scope.
  3. Reviews – Word of mouth has always been one f the strongest advertising tools. Someone elses experience tends to provide a good gauge for how you can expect your experience with a company to be. Therefore, you should try to seek out qualified reviews, which you can secure a few different ways:
    • The companys website
    • Trustworthy review sites
    • Similar businesses

    If you take time to consider these top traits in your search for the right insurance for directors and officers for private companies, you will be sure to find the best one for your company.

Two Benefits of Errors and Omissions Insurance for Real Estate Agents

Insurance is important for many of today’s businesses. The right insurance can provide protection against unforeseen costs and minimize your risks. If you work in real estate, an important policy to consider is errors and omissions insurance for real estate agents. This coverage offers many significant benefits, including these two.

  1. Protect Against Mistakes – In nearly every industry, mistakes can happen. Unfortunately, even the smallest error can end up costing a lot of money. This is why so many people choose to carry errors and omissions insurance. This coverage can protect professionals when they make mistakes. The real estate industry has become increasingly complex, and it is easier than ever to make a mistake. If you have the right insurance, you will not have to worry about the financial ramifications of your mistakes.
  2. Avoid Expensive Lawsuits – When you carry errors and omissions insurance for real estate agents, you are likely to avoid costly lawsuits. Litigation cases are common in the following circumstances:
    • Failure to inspect property
    • Delays in closing transaction
    • Failure to disclose material facts
    • Failure to recommendation a fair price
    • Libel
    • Slander
    • Discrimination

    If you do get sued for one of the reasons, your insurance company can handle the case.

Errors and omissions insurance for real estate agents is a smart investment. Contact an insurance company today for more information on this type of coverage.

How Managing General Agents Benefit From Automated Rating

As a managing general agent you know the importance of understanding insurance contracts, specialty markets, negotiating commissions, and issuing policies. A comprehensive rating system will assist you in doing your job more timely and effectively. Many managing general agents are realizing the value of having an Automated Insurance Rating System. Learn for yourself why this is a tool of choice for many successful agents and how to get yourself in the loop.

Why Automated Rating?

If you’re like many managing general agents around the country, you might still be using old rating technology that is a component of many policy administration systems. Other common rating systems include a retail agency system. These tend to be unsatisfactory for agents as technology continues to advance. When it comes to customization, renewal transactions, and mid-term policy changes, these systems fall short.

A comprehensive Automated Insurance Rating System gives you the tools you need, such as:

  • Efficient data sharing
  • Easily integrated with existing policy administration systems
  • Custom output such as printouts and forms
  • Automatic updates of carrier rates
  • A professional consulting team and web services

Every managing general agent deserves a system that works efficiently and helps him or her perform the job effectively. It’s easy to get a rating system integrated into your policy administration system or replace your retail agency system. Improve your work with an Automated Insurance Rating System.