Most employers are required to provide workers compensation insurance. Common sense might suggest shopping around for the best policy, but this strategy is not possible if you live or work in a monopolistic state. Here is a list of monopolistic states and the implications for employers doing business in one. Monopolistic States In some states,…
When trying to leverage talent, small businesses often look to their benefits offerings to attract and retain employees. However, benefits can be quite costly, especially for small companies. There are several ways to fund a health insurance plan that can help make the costs more manageable. A level-funded insurance plan provides the cost-saving benefits and…
There are liability risks within every industry, but even inside a particular industry, the details may vary widely. In the laundry industry, risks vary largely based on whether the business offers laundry services or simply the equipment for customers to do their own laundry. Self-service laundromats avoid quite a few risks that are common for…
There are countless risks that come along with operating a business. Protecting yourself and your assets can be tricky, especially in the digital age. Not only do you need to focus on the areas that cybercriminals tend to exploit, but you also must take time to think about all of the common liability scenarios you…
Workers’ compensation laws vary between states, but most require coverage if you have a certain number of employees. Occupational accident insurance (OAI) can help provide for employers and employees in the absence of workers’ compensation coverage. Advantages of Occupational Accident Insurance One of the biggest advantages of OAI is that it can be customized to…
Operating a retail business could include a number of different products, but in general, retail operations share similar liability exposures. The traffic coming through the doors, the employees serving customers, and the exchange of financial information all present a number of risks, so the insurance for retail businesses should have more than one coverage application.…
The current Covid-19 pandemic has caused understandable stress for employees who will suffer not only in health but financially should they contract this devastating illness. As an employee, knowing your options can provide a sense of security in an uncertain future. Critical Illness Insurance Critical illness insurance offers a lump sum payout intended to help…
Employment practices liability insurance is essential for any business to have in order to protect against claims made by employees. This is especially true for smaller companies that may not have a defined structure of policies and training in place. Legal accusations related to EPLI have been increasing in recent years. Even if a claim…
Being a homeowner can feel refreshing for anyone who has paid rent or lived under someone else’s roof. However, it also comes with unexpected circumstances. Adding guaranteed replacement cost insurance is recommended to financially cover your home. Here is why. 1. Current vs. Original Value The original home value covered by homeowner’s insurance at the…
One aspect of starting and managing a successful business is choosing the right products for employees to help mitigate financial and operational risks. No one ever really expects or plans to fall ill, but it happens. To keep employee health issues from interfering with your company’s needs and expenses, you may want to look into…
In the eyes of the law, fiduciaries owe their clients the highest level of care that one person owes another. Fiduciaries are individuals who have been entrusted to manage or provide an important financial service for an individual. Examples of fiduciaries include financial advisors, pension administrators, bankers, estate executors, and guardian ad items. When fiduciaries…
Face it, using personal watercraft can be dangerous. Although enjoyed safely by thousands, inexperienced users become victims of jet ski accidents on a regular basis. In fact, one-third of vehicle collisions on the water have to do with personal watercraft and many of these result in injury. Fortunately, PWC coverage exists to mitigate these risks.…
Thanks in large part to the 2018 Farm Bill, hemp regulations have eased, and the cannabis industry is booming. However, growing hemp carries its own unique set of risks. Hemp crop coverage can help you avoid losses from fire, theft, or failed crops. 1. The Weather Is Unpredictable Even if you grow your crop indoors,…
As a marina owner, you are responsible for all of your members’ boats. If problems occur or if vessels are damaged, it may be your fault, according to https://www.wqis.com/. Here is what marina liability coverage can protect you from. Theft and Vandalism Despite security measures that you might take, theft and vandalism could happen. If…
If you’ve been in the marijuana business for a while now, then you already know that it’s not all rolling and smoking for eight hours a day. The industry requires a lot of careful thought and consideration for it to flourish, which means that you know firsthand how important it is to have a plan…
