Insurance News

Top 10 Email Etiquette Tips

December 7, 2020 |

If you’re writing an email or responding to one, either personally or on behalf of your company, whether to an individual or to a larger group, it is vital that you observe certain email etiquette in order that your email is appropriate in every way, and you avoid awkward, even potentially libelous situations. To ensure…

Directors and Officers Insurance

December 7, 2020 |

While business insurance policies by definition provide coverage for the business itself, individual company officers may still be personally exposed to financial losses resulting from a lawsuit. To protect your company’s leadership, you may want to consider purchasing directors and officers (D&O) liability insurance. What D&O covers Directors and officers is a type of liability…

Do Independent Contractors Need Liability Insurance?

November 10, 2020 |

As a 1099 contractor, it’s important to have the right insurance protection. You can get sued just as easily as any other small business owner, and liability claims can be very expensive. If you don’t have coverage, and a client or customer sues you, you’ll have to pay the costs out of pocket. And that…

What Is Blanket Additional Insured Endorsement?

October 12, 2020 |

A blanket additional insured endorsement is an insurance policy endorsement that automatically provides coverage to any party to which the named insured is contractually required to provide coverage. A blanket additional insured endorsement is most commonly found in liability insurance policies, though it is typically not a feature of the policy language. KEY TAKEAWAYS A blanket additional…

Pitfalls of Additional Insured Endorsements

October 12, 2020 |

Looks can be deceiving when it comes to additional insured endorsements. They may not be as broad they seem. Many contain exclusions or limitations that aren’t apparent until a loss occurs. Here are some pitfalls to watch out for if your business is covered, or is covering another party, under a liability policy as an additional insured. Ongoing Operations One…

Additional Insured Endorsements in Construction

October 12, 2020 |

To get on a job, contractors often have to show proof of insurance and name the individuals hiring them as additional insureds on the contractors’ commercial general liability (CGL) policies. By doing this, the individuals hiring the contractors hope that the additional insured endorsement will defend them in case they get sued for something relating…

How To Lower Your Experience Modifier Rate

September 17, 2020 |

Lowering your Experience Modification Rate is a long process that starts with a safety plan, actionable steps to improve safety, and training to ensure that employees are safe on the job. You will need to set realistic goals and work tirelessly alongside employees and managers to lower the frequency and severity of injuries. Contractors have…

What Is An Experience Modifier Rate (EMR)?

September 10, 2020 |

An EMR or experience modification rating (also called a XMOD rating or factor) is used to price workers’ compensation insurance premiums. Think of it like your credit score or car driving history, where third parties consider your history as an indication of future risk. In construction, insurance companies use an organization’s EMR to gauge the…

How is Your Workers’ Comp Rate Calculated?

September 10, 2020 |

Whether you are a small, medium or large-size company, one of the most basic costs of doing business is insuring your employees against injury on the job.  Almost every business in the U.S. that has employees is required to have a workers’ compensation insurance policy. How are workers’ comp premiums calculated? Workers’ comp insurance premiums…

Independent Contractor Defined

July 16, 2020 |

People such as doctors, dentists, veterinarians, lawyers, accountants, contractors, subcontractors, public stenographers, or auctioneers who are in an independent trade, business, or profession in which they offer their services to the general public are generally independent contractors. However, whether these people are independent contractors or employees depends on the facts in each case. The general…