An experience modification worksheet, often referred to as an experience rating worksheet or experience mod worksheet, is important in workers’ compensation insurance. Understanding the components on the experience modification worksheet is crucial for businesses to manage their workers’ compensation insurance costs effectively.
Read MoreThe National Oceanic and Atmospheric Administration (NOAA) recently announced that the United States has already seen a record number of billion-dollar weather and climate disasters in 2023. The 23 events mark the most disasters of that magnitude on record for a calendar year.
Read MoreIf you’re considering auto insurance coverage for your business, it’s important to understand the basic elements of a commercial auto policy. The more you know, the easier it is to compare coverage and make an informed choice. Commercial auto insurance provides a variety of coverages for cars, trucks, vans and other vehicles used by your business.
Read MoreCommercial excess liability insurance and umbrella insurance are secondary coverage policies that attach after primary insurance policy limits—such as general liability, employer’s liability and commercial auto insurance—have been exhausted. While excess liability and umbrella insurance are often thought of as interchangeable, they are not the same.
Read MoreFrom capital and labor to weather and the economy, many factors that affect business today affect property insurance. Declining Occupancy, Severe Weather and CAT Losses, Supply chain, Property Valuation and more.
Read MoreWhen possible flooding is forecast, keep frequent tabs on weather updates. Learn how to safely store equipment, computers, servers and important documents. Review essential systems to your building, from pumps to generators. Survey your building’s envelope for possible water intrusion: roof, windows, doors and more.
Read MoreAs a small business owner, you realize that people make mistakes; you also realize that not everyone forgives them. That’s why it’s important to have errors and omissions insurance, in the event that a client claims a financial loss for your company’s error, omission or otherwise negligent act.
Read MoreBusinesses need backup plans for emergencies. What happens to your company when a covered loss occurs that causes you to lose income? How do you pay your employees, for instance? One way to help ensure your business has stability during a covered property loss is to add loss of income insurance to your policy.
Read MoreOn July 27, 2023, OSHA issued a heat hazard alert to remind employers of their obligation to protect workers against heat illness or injury in outdoor and indoor workplaces. In addition, OSHA stated it will increase its enforcement where workers are exposed to heat hazards. This will include increased inspections in high-risk industries like construction and agriculture.
Read MoreIn this hard market, most insurance companies have struggled to reach profitability for commercial auto insurance policies. This is largely due to several cost-driving trends impacting the segment. As such, it’s important for businesses to understand the primary reasons behind rising premium costs. Here are six factors currently affecting commercial auto insurance costs.
Read MoreDespite the hard work that small businesses put in to ensure they manufacture high-quality goods, there is still the chance that products could fail to work properly. Find out what product liability insurance is and how much your small business might need.
Read MoreAs cyberattacks become more frequent and costly, it’s crucial for organizations to maximize their financial protection against related losses by purchasing sufficient insurance. Cyber coverage, also known as cyber liability insurance, can help organizations pay for a range of expenses that may result from cyber incidents.
Read MoreThere are five categories of equipment that equipment breakdown insurance typically covers:
Mechanical ; Electrical ; Computers and communications ; Air conditioners and refrigeration systems ; Boilers and pressure equipment
Read MoreRunning your own business can be a fulfilling experience, but it also has its fair share of risks that can jeopardize your assets, finances, and reputation. In this blog post, we’ll review what exactly a business risk is, the different types of risks you might encounter, and some steps you can take to prepare for them.
Read MoreYounger workers are often energetic and excited to tackle new tasks, but did you know they’re also more likely to get injured on the job? Based on studies of emergency room visits, the injury rate for workers under the age of 25 is approximately twice that of workers 25 and older.
Read MoreA general liability policy helps protect your small business from claims that it caused bodily injuries and property damage. These risks can come up during normal business operations. They can get expensive for small businesses and many don’t have the resources to cover a liability claim.
Read MoreThird-party litigation funding is when a third party invests in a lawsuit in exchange for a percentage of the proceeds if the lawsuit is successful. The recipients of TPLF can either be individual or corporate claimants. This Coverage Insights examines how it works, its different recipients and its impact on the insurance industry.
Read MoreYour HVAC business is there when your customers need it. Whether it's keeping their houses warm in the winter or cool in the summer, you’ll be there to save the day. Here are 5 ways to take the heat off your HVAC business.
Read MoreTrees come in all colors, shapes, and sizes. Proper tree care keeps trees beautiful and prevents them from posing risks to people and property. For the businesses that provide tree care services, the risks can be even greater. Besides serious injuries and fatalities, accidents put a company at risk for costly lawsuits and damage to the company's reputation.
Read MoreWorking in a restaurant can be dangerous. The Bureau of Labor Statistics reports that in 2021, 128 restaurant employees were fatally injured in food service establishments and drinking places. Even just one injury in a small restaurant can increase workers' compensation premiums or worse - result in the loss of a valuable employee.
