Business Insurance

According to the Surety & Fidelity Association of America, surety bonds provide the most comprehensive risk management tool available to protect against default and ensure contractual obligations are met. Different kinds of surety bonds provide coverage to ensure compliance with local, state or federal requirements, guarantee tax or other financial obligations, or guarantee performance of an underlying contract.

Insurance provides critical financial protection to small businesses. However, coverage gaps can jeopardize that protection. A coverage gap exists when the potential financial impact from events exceeds the protection a company’s business insurance portfolio provides.

This article provides an overview of home business insurance, explaining what it is, the different coverages, what business insurance for a home-based business costs, and more. If you’re researching home business insurance coverage, it’s a must-read!

From financial repercussions to reputation in market, one can't know how badly it could affect you and your business. Imagine, for a moment, one of your suppliers' contracts fall through and he/she drags you to the courtroom or an employee sues your company for the non-payment of salary/dues. Somehow you find yourself stuck amid lawsuit troubles and much more.

Pressures from inflation can affect companies of all sizes. These can be especially significant for small business owners who may have fewer resources to hedge against the impact that rising costs could have on their bottom line.

Internal risks such as exposure from operational processes and procedures are often easier to control. However, external risks such as exposures that may be introduced through partnerships or other parties hired to provide a service for your business, are more difficult to control.

There are many factors that have a role in creating an occupational heat stress risk to workers. These factors include:

• Environmental conditions

• Presence of heat sources

• Level of physical activity

The Terrorism Risk Insurance Act (TRIA), ensures that adequate resources are available for businesses to recover and rebuild if they are the victims of a terrorist attack. It is offered separately or as a special addition—called an “endorsement” or “rider”—to your standard commercial property insurance policy.

Business owners know that having insurance is essential. Without it, they have to pay out of their business’s pocket. And the unfortunate reality is that a single issue can create a huge expense. Still, we would like to keep the cost of your financial protection as low as possible and may wonder, “How is an insurance premium calculated?”

If you’re reviewing an insurance policy, see the word “subrogation,” and wonder what it means, you’re not alone. Subrogation in business insurance is a crucial concept that every business owner should understand. Subrogation refers to the insurer taking the place of the insured to pursue compensation from an at-fault party. Read on to learn what this means for your business.

A commercial liability insurance policy pays for losses arising from bodily injury and property damage – real or alleged. If you’re considering a business liability insurance policy, it helps to know the terms and phrases used to describe these products. Here are some important liability insurance terms and definitions to know.

Cyber incidents—including data breaches, ransomware attacks and social engineering scams—have become increasingly prevalent, impacting organizations of all sizes and industries. As these incidents continue to rise in both cost and frequency, it’s crucial for organizations to take steps to address their cyber exposures and bolster their digital security defenses.