Lower Your Commercial Auto Insurance Premiums

How to Lower Your Commercial Auto Insurance Premiums

The top two factors affecting your commercial auto insurance premiums haven’t changed. The primary drivers of commercial auto premiums are still very basic: Your history of claims, and the driving records of your individual drivers.  It follows, then, that you can get a lot of value out of focusing your hiring on mature, experienced, responsible drivers. Once you have selected solid people, the next step is to enforce safety standards and provide them with adequate rest and the tools they

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Product Liability Insurance

Product Liability Insurance Basics and Why You Might Need It

If your company manufactures any kind of product, from cupcakes to car parts, computers to clothing, it could easily find itself on the wrong side of a lawsuit by a plaintiff claiming your product(s) caused some kind of injury or damage. In today’s litigious society, it is not even necessary for you to be the manufacturer of the product. Sellers are often sued alongside the manufacturers. That is where product liability insurance comes in.

It’s only natural that people want to

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Drug Testing Laws

What Employers & Employees Should Know About Drug Testing Laws

With the exception of some heavily regulated industries such as nuclear energy, military contracting and transportation, federal laws do not specifically address drug testing. However, many states and local governments regulate this practice. In most cases, the necessity of testing is left up to the discretion of the employer.

Drug Testing Prospective Employees

As a rule, state laws permit employers to test prospective employees for drug use. Drug testing is performed at the expense of the employer. Some states only permit drug

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Directors & Officers Liability Insurance

Directors & Officers Liability Insurance Basics

Imagine these scenarios affecting organizations of varying types and sizes:

Members of a trade association sue the group’s board of directors, accusing them of mismanaging association funds by spending thousands of dollars on a project that went nowhere.
Stockholders in a small restaurant chain sue the company’s risk management officer after a location suffers a total uninsured loss of the building, contents and food.
A taxpayer group sues a public library’s board of trustees for building up a reserve fund that the group

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Natural Disaster Insurance For Businesses

When An Insurance Company Wouldn’t Sell Insurance

Insurance companies are in business to sell insurance coverage. Most of the time, they actively sell new policies and additional coverage on existing ones. Sometimes, however, situations arise that cause them to declare a moratorium on selling new policies or coverage.

Unlike most other service providers, insurance companies do not know the final costs of their services when they sell them. They do not know whether they will pay nothing for claims or millions of dollars. Companies have statistics that help

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Prepare Your Business For Windstorms

What to Do When a Windstorm Threatens Your Small Business

Over the past several years, windstorms have damaged countless businesses in the United States. Although business interruption and property damage are both covered issues, a damaged reputation and market share losses can still be financially devastating. Problems are worsening for business owners everywhere as windstorms continue to increase in frequency and severity.  With adequate preparation, business owners can prevent some of the biggest losses. Use this checklist as a guide.

Develop an Emergency Plan With Comprehensive Provisions

Assign roles to different people

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Form I-9 For Small Business

Employers Have Until January 22, 2017 To Adopt New Form I-9

Employers: You have a new Form I-9, and you have until January 22nd, 2017 to begin using it.

The U.S. Citizenship and Immigration Services (USCIS) released a new Form I-9, the Employment Eligibility Verification Form. Failure to adopt the new form by the deadline could result in hefty fines and penalties for any employer the agency catches.

Under the 1986 Immigration Reform and Control Act (IRCA), employers must verify employee identity and ensure that employees are legally entitled to work in the United

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Retail Fraud Risks

Fraud Costs Retailers More Than They Know

Stores and online merchants already know of the typical ways fraud costs retailers. Identity fraud and use of stolen credit cards stick them with the cost of disputed charges. However, the costs may be even larger than they realize.

LexisNexis surveyed more than a thousand risk and fraud decision-makers and influencers for merchants. The results showed that as many as 14 million Americans fall prey to identity theft each year. When they do, almost one-third of them will avoid buying from specific

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How Much Liability Coverage Does Your Business Need?

How Much Liability Coverage Does Your Small Business Need?

There aren’t many activities in life riskier than starting your own business. Two of the biggest risks any business faces are the loss of essential property and personal injury claims. In minor cases, these risks can cause loss of income, but in the worst-case scenario, they can bring your business operations to a screeching halt and force you to close the doors.

Obviously, your success is dependent upon keeping risks and losses to a minimum. Liability insurance helps you lower vulnerability

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Thin On Business Insurance

Businesses That Went Thin on Commercial Insurance: A Case Study

Imagine several small businesses located around the country. Each is well-established and profitable. Each of them bought business insurance – property, liability, commercial auto, workers’ compensation. They told their agents they wanted the lowest possible price for coverage, and the agents came through. Unfortunately, they each suffer losses that may threaten the very survival of their businesses.

The owner of a restaurant on the south shore of Long Island, New York rejects his agent’s offer of flood insurance when he sees

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