Category Archives: Insurance Marketing

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.

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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.

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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.

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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.

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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.

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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.

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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.

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3 Types of Insurance to Consider

When thinking about the right insurance for your needs you may have found that there are numerous plans available. In most cases these plans can fall into three categories. Agencies like North Star can help you find a plan in each category, or just one, to best fit your needs.

Personal Insurance

Personal insurance is coverage designed for yourself and your family. These plans often include health insurance, as well as homeowner’s policies, auto insurance, life policies, insurance for valuables, and more.

Business Insurance

Business insurance is there to cover your place of work, business practices, and employees. Among the many policies offered in the business insurance category are workers compensation, auto coverage, property coverage, liability, errors and omissions coverage, and cargo insurance.

Employee Benefits

Employee benefits include any type of insurance program that offers your employees coverage they may otherwise choose to apply for on their own. These can include health, vision, dental, and disability insurance coverage, but may also include services such as wellness consulting.

When looking for insurance agencies like North Star can help walk you through the process. They can help you decide which type of plan you need for yourself, your business and your employees. If you have any questions about which plans best fit your needs, these are the professionals to ask.

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Benefits of Collectors Car Insurance

Owning a classic car can be a fun experience. You may enjoy taking your classic ride to different kinds of car shows. However, you may want to think about implementing a collector’s car insurance policy to protect your unique vehicle. Here are several key benefits of having this particular type of insurance.

Unique Coverage

One benefit of a classic auto insurance policy is that you will be able to get a customized plan. Not every classic car owner has the same needs. So, whether you drive your car on the weekends or just on special occasions, you will have the chance to tailor an insurance plan to your unique specifications.

Protects Your Memorabilia

You may have some memorabilia that you purchased along with your antique car boxed up in your garage. It is important to know that your automotive accessories or memorabilia is eligible for insurance coverage. Sometimes the memorabilia that goes with the car is just as valuable.

As you can see, these are just a few benefits of having a collector’s car insurance coverage plan. You never know when your car could be damaged or scratched, which is why it is important to protect your car with the necessary insurance coverage. Remember that you can work with an agent to customize your insurance plan.

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The Importance of Choosing the Right Insurance Coverage

For some things, it’s not that critical where you shop for services or products. However, when it comes to finding a new Needham insurance agent, you can’t afford to go to the wrong place. You have a business to protect, and if you don’t get sufficient coverage, your company could be in serious trouble.

Financial Protection

If you work in an industry where you deal with clients’ safety, well-being, and financial future, you may be at risk of getting sued. This can happen in the medical, real estate, and financial planning fields, among others. When you partner with a trusted Needham insurance agent, you can have peace of mind that even if someone sues you, comprehensive liability coverage will have your back.

The Right Amount

There are many insurance companies in the area, but not all of them will understand your needs. The most experienced, skilled agencies won’t only hook you up with the best plans, but they’ll assess your business and give you the amount of coverage that’s right too.

Partner for Life

You don’t want to have to switch insurance agencies every few years. It’s better to find the best coverage and stick with it. If you choose a reputable company, you can have confidence that they have your best interests at heart for the long haul.

It’s easy to see why you need a trustworthy, competent insurance agency. Protect your business today.

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