Being Covered is Worth the Cost

Professional Liability Insurance, also known as Errors and Omissions (E&O) coverage, is an important type of insurance that protects your business against allegations that a service you provided, or failed to provide, negatively impacted your client. This type of insurance is especially important for businesses that deal directly with clients in order to perform services for them.

There are many types of professionals who can benefit from Professional Liability Insurance. Examples include architects, IT professionals, accountants, lawyers, and others who risk being sued either for mistakes or perceived mistakes when performing a service for a client. In the event a client does file suit against your company, this valuable insurance will help cover the cost of legal fees and settlements up to the coverage limit.

In some cases, a company may be required to have E&O coverage to operate, but even if it’s not required to perform services, it’s still vital to protecting your business from potentially devastating financial loss. Costly mistakes can happen during the course of doing business that won’t be covered by a general liability policy. While the cost of E&O coverage can vary depending on different factors, the many benefits of having this type of coverage, including intangible benefits such as peace of mind, make it worth every penny.

Why Don’t You Have Renters Insurance?

Finding a new apartment in a competitive market can be exciting, but once you find your dream place, don’t forget about your apartment insurance. It’s one of the more affordable policies out there, but you might be surprised at the number of people that choose not to buy it. There are a lot of variables that influence your price and coverage needs, but there are many ways this insurance can benefit you.

Even if your landlord has insurance, that policy doesn’t extend to all your stuff. Many things could happen that damage your belongings, like fire, theft, inclement weather and plumbing issues. Even worse, if these issues occur because of something you did or neglected to do in the upkeep of the property, you could be held liable instead.

There are other things to keep in mind as well, like how roommates won’t fall under your policy. While you could add them, their claims will be reflected on your records, and could affect your ability to get insurance products at competitive prices in the future.

You may even be able to bundle your apartment insurance with other types of insurance under your provider for a discount. This simple addition to your insurance coverage can make a huge difference as you navigate the world as a renter.

Protecting Your Production

If you are involved in making a film, you have probably thought of every possible way a scene may play out, how the scenery will frame the characters, and the physical materials you need to have on set. But if you have not thought about film production insurance, then you are not ready to move forward with your project. As a producer, a large amount of responsibility falls on you and that can be a frightening reality at times. One of your biggest responsibilities is to make sure you are covered by a film production insurance plan. You need to protect those who are working with and for you so that your energy does not go to waste thinking about what could happen and what you may be held accountable for.

With experienced and reliable brokers, you can know exactly what type of plan would be best for you or best for each of your projects over a span of time. Your film production insurance experience can be of excellent quality without breaking the bank. Whether you need to cover storage for equipment or protect the people in the production itself, you can find the coverage that you need. Insurance may be the least glamorous aspect of film making, but it is definitely a very crucial component to any film production.

The Basics of Dividend Plans

You may believe that your employees’ welfare is incentive enough to keep your workers’ comp claims at a minimum. Enrollment in workers’ compensation dividend plans, however, offers you a financial incentive as well. Under these plans, you get paid a dividend for controlling your losses when your policy expires. The amount of your earned loss ratio likely depends on your earned premium and the losses you incurred during the year.

Your incurred losses include anything the insurer has paid or will have to pay as the result of injuries sustained at your workplace during the policy period. This can include both past and ongoing medical expenses, legal expenses and lost wages. A final audit determines your earned premium for the year based on your payroll at the time of the audit. If your payroll increased during the policy year, therefore, the earned premium would reflect that final number.

Workers’ compensation dividend plans typically pay according to the earned loss ratio. The earned loss ratio is the total incurred losses divided by the earned premium. If it exceeds the minimum required by the plan in which you are enrolled, you may be entitled to a dividend payment. These programs help by giving employers extra motivation to maximize workplace safety in order to minimize workers’ compensation claims.

What To Consider When Exploring Life Insurance Policies

Having life insurance is one way to protect the people who are deeply loved today far into the distant tomorrow. There are many different options available on the modern market, and it may be challenging to understand the advantages and disadvantage of multiple versus single premium policy options.

When investing in a life insurance policy, it may seem more cost-effective to stretch the premium over multiple payments as opposed to a one-time payment. However, people with busy schedules and little time for financial matters can relax more when life insurance is taken care of with a simple, single payment. It also makes it easier to purchase policies for other family members.

There are further benefits of a single premium policy. Purchasing the policy does not mean the money remains stagnant. Rather, it is an investment that grows over time, thus providing even more security for the family when it is time to make a claim. In the present, the policy can be used as collateral for loans or to create and obtain cash dividends.

Establishing and leaving the policy alone also has advantages, as all benefits will simply be transferred to beneficiaries without any red tape. A Single Premium Policy is an excellent option for anyone looking for a convenient and beneficial form of life insurance.

Insure Your Water Treatment System

When it comes to water treatment color, you want your system to produce clean water for drinking and other uses for the company. Water that is discolored can be a sign that something is amiss, which could cause a variety of problems, many of them expensive. For insurance to protect your company from the hazards and expenses of water contamination it is best to work with an insurance underwriter that specializes in this field.

Standard insurance carriers will more than likely not understand all of the intricacies related to water treatment systems. Because of this, they may charge exorbitant rates for coverage, or they mail fail to cover your company properly. On the other hand, an experienced underwriter in this field should be able to offer affordable premiums, reasonable deductibles and strong coverage.

The right insurance underwriter can protect your company from claims against spills, contamination, incorrect testing, failed equipment, lawsuits due to human error and many other situations. It is smart to look for a company that has the financial strength and stability to handle large claims.

Water treatment color is a good indication of how well your system is working. A solid insurance plan is the best way to protect your company from unnecessary risk. A comprehensive policy allows you to be prepared for major events that affect the safety of the water everyone relies on.

Get the Right Healthcare Facility Coverage

When shopping for healthcare facility insurance coverage, there are a number of things to consider. How much coverage is enough? How much should premiums cost? How do I protect my company from all of the dangers that exist in the world? There are a lot of insurance products on the healthcare facilities insurance market. To find the right product for your office or facility it is a good idea to partner with an experienced insurance broker. This puts you in an excellent position to receive a policy that is customized to the unique needs of your facility.

An insurance broker that offers personalized service gives you the best chance of getting the perfect policy. Discussions should involve how much risk you are comfortable with, how much physical property you own or lease and how many employees you have. These discussions should pave the way for an insurance package crafted with your best interests in mind. You should also talk about long-term solutions, any specialized needs of your facility and the prospects for growth or expansion of your business.

The healthcare facilities insurance market offers you an opportunity to achieve the insurance solutions that are best for your company. A quality policy with competitive premiums allows your business to operate with a high level of confidence.

An Agency That Offers the Best Possible Coverage

Living in California is a both a privilege and an adventure. Keep the adventure going worry-free with comprehensive, affordable insurance coverage for you, you family, and your business if you own one. If you’re in California and need high-quality insurance, consider partnering with The Olson Duncan Insurance Agency, an independently-owned firm known for providing clients with well-rounded insurance solutions at competitive rates.

The agency’s business coverage policies include errors and omissions, workers compensation, commercial auto, commercial property, and all liability insurance plans including general, professional, cyber, umbrella, and employment practices liability. If you need personal insurance coverage, the agency offers home, auto, recreational vehicle, watercraft, flood, and earthquake insurance. Olson Duncan also offers personal insurance benefits such as life, dental, medical, and vision insurance plans.

If you choose The Olson Duncan Insurance Agency, you are guaranteed to receive complete coverage and interactive care, instead of just receiving a quote or contract and being left to figure things out on your own. Olson Duncan is known for building long-term relationships with its clients based on trust and transparency. Despite being an independent insurance agency, Olson Duncan possesses the strength and resources of a national-level agency, which means you’ll be extremely well taken care of without having to shell out extra cash.

Beware of Workers Comp Fraud

As an insurance agent, you’re constantly on the lookout for fraud from your clients, but did you ever stop to realize that insurance fraud could be happening within your own office? Insurance agents workers comp exists to protect employees who have been injured on the job. Unfortunately, however, there are always ways for unscrupulous workers to take advantage of the system.

False Claims of Injury

The most blatant form of workers comp fraud is when an employee claims an injury that doesn’t really exist. A savvy scam artist will claim an injury that is difficult to disprove, such as a soft tissue injury.

Injury Not Related to Work

In some cases there is a genuine injury, but the claim that it was caused by work activities is sketchy or just plain bogus. It may be an injury that occurred before the employee was hired at your company or an injury that occurred outside of work.

Malingering

In cases of malingering, there is a legitimate work-related injury. However, it may be a minor injury that the employee presents as being more serious than it is. Alternatively, the employee may still claim to be in too much pain to come into work even after the injury is healed.

Insurance agents workers comp can be a tricky balance. You want to avoid being taken advantage of without creating a workplace environment of suspicion and hostility. Be courteous and conscientious in handling all workers comp claims. If you have reason to suspect fraud, report it immediately.

The Importance of Legal Liability Coverage for Warehouses

How you handle the business both inside and outside of your warehouse has a huge impact on the type of insurance policy you need. Warehouse legal liability is a necessity for those running transitional facilities, and the type of coverage you choose must align with your company’s practices. Aside from providing yourself protection from costly and potentially debilitating lawsuits, the strength of your policy can be an important factor in the confidence and trust your clients will have. You want your business to run smoothly and effectively, and strong liability coverage is an important part of that.

Without warehouse legal liability, virtually every stage of your operation has the potential to leave you in a jeopardized position. Goods damaged during packaging, labeling or storing will cost time, money and clientele if you don’t have the right policy in place. The objective should always be to maintain a safe and careful work environment, but certain issues can’t be predicted or avoided. Whether it’s employee error or poorly-timed weather, the fallout can be astronomical if you don’t have coverage suitable for your business. For these reasons, it’s a mistake to accept a generic policy and hope for the best. Instead, find a provider with knowledge of warehouse management, the industries you serve and the area where your business resides.