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There is no question that businesses large and small have been financially impacted by the coronavirus pandemic. Here's what we're do
Learn more about the recent lawsuit that Travelers Casualty Insurance Company filed in Los Angeles.
This plan is designed to allow Wisconsin businesses to slowly begin to reopen in a phased fashion, as long as COVID-19 cases are on a steady decline.
In this article you will learn that every business has the ability to control its workers' compensation premiums.
Depends. There are many variables that need to be discussed with your agent before an answer can be given.
Insurance needs can vary for every business but the basic coverage needed are Property, Liability, Umbrella, Automobile, and Workers Compensation.
Cyber Liability offers first party (your loss) and third party (your customer's loss) coverage associated with e-business, the Internet, networks and other electronic assets and information.
Worker's Compensation premiums are determined by multiplying a state set manual rate by the amount of estimated payroll (measured in $100 increments), times your individual experience rating modification.
Employment Practices Liability covers allegations of employment-related discrimination and sexual harassment, or retaliation against an employee.
The difference between replacement cost and actual cash value is a deduction for depreciation.
No, you are not required to cover independent sub-contractors for Worker's Compensation.
Umbrella Liability insurance offers an additional layer of protection over your primary policies.
General Liability covers bodily injury or property damage to a 3rd party. Professional Liability insurance provides coverage against claims of negligence or mistakes that cause financial harm.
While insurance rates for individuals and many businesses are rising across the board, there’s been an exponential increase in the transportation industry over the past decade.
Cyber liability insurance protects you and your small business from the financial risk of having your IT systems compromised, including legal damages for which you may be held liable.
Cyber liability insurance covers a variety of costs affiliated with cyber security threats, including the ability to pay legal fees and fines for damages, the cost to regain control of your systems after a ransomware attack, and even the ability to replace revenue your company lost due to a cyber-attack. Review your needs with a cyber liability insurance agent to determine your suitability before deciding on the coverage you need.
With the significant rise in cyber-attacks, all small business owners should consider cyber liability insurance a necessity.
Determining the amount of cyber liability insurance you need depends on several factors. You should consider where your small business may be vulnerable, look at several options from different cyber liability insurance providers to get an idea of the options that are out there, and then consult with a specialist to find the best fit for you.
If your day-to-day operations depend on email, internet access, or any form of e-commerce, you are at risk of becoming the victim of a cyber-attack. Cyber liability insurance is the only way to ensure that you are financially protected in the event of any number of catastrophic data or security breaches.
General liability insurance can cover the costs you and your business may be liable for in the event of bodily injury to a third-party or by intellectual harm such as libel, slander, and copyright infringement. This includes legal and defense fees, medical expenses, and other damages you may incur.
General liability insurance cost varies depending on your business’ needs and risk exposure, but typically costs between $X-$XX per month. You can also save by bundling coverage, and an independent general liability insurance expert can help match you with the best price points for your need.
Contact a general liability insurance expert and review policy options. They will be able to provide you with quotes that match your needs and price points.
There are a variety of factors considered when calculating general liability coverage for a contractor. These considerations are often called “the total risk of the job” and include things like the physical job site, material cost, and potential losses.
Workers’ compensation insurance is protection for an employee and employer in the event of a workplace or work-related accident. This coverage can include payment for medical bills, disability benefits, and wage replacement.
With the exceptions of Texas and Wyoming, all 48 remaining states and the District of Columbia require that an employer carry Workers’ Comp.
Prices will vary depending on the number of employees and their job classifications. A general rule you can apply is approximately $1 in premium for every $100 of payroll.
The claim process starts with filing a report identifying the work-related injury or illness, then contacting your insurance provider and the state’s workers’ comp board and OSHA. If there is a disputed claim, an employee will be required to demonstrate that the injury is work-related.
No punitive actions can be taken against an employee with a filed workers’ compensation claim, so coverage cannot be canceled in response to a claim, but there is no general protection for health coverage, and it could be allowed to lapse in some circumstances. Additional filings, such as Family Medical Leave of Absence (FMLA) may be required to provide extra layers of protection.
Commercial property insurance can cover a variety of damages affiliated with natural disasters, fire, and theft. There are multiple types of coverage that protect everything from glass to equipment you take to a job site.
The cost of insurance will depend on a variety of factors such as the type of commercial property you are looking to cover, its location, and potential risk exposure.
The short answer to this question is: Yes. Leased equipment and property often requires some type of coverage, but this is rarely comprehensive.
Insurance for your business and commercial property can be counted as an expense and is tax deductible.
Specific commercial property insurance coverage will vary, but theft is generally included in most policies.
Generally speaking: no. Personal auto insurance protects individual liabilities but does not protect company assets in the event of an accident.
Business auto insurance protects your company’s assets from liabilities associated with company owned vehicles, such as accidents and breakdowns.
Cost will vary depending on the number of vehicles you need to insure, who will be driving company owned vehicles, and a variety of other factors. Speaking with a business auto insurance expert from Ansay is the best way to get an accurate range of quotes.
Typically, commercial auto insurance is higher than personal auto insurance because there is a risk of higher liability. Additionally, the vehicles are much more frequently in use.
Although not a legal requirement in all states, business auto insurance coverage for a sole proprietor is very important. As a sole proprietor you lack the layers of protection offered by an LLC or S-Corp designation, putting all of your assets at risk in the event of an auto accident while working.
Workplace violence insurance typically covers the liabilities stemming from an act of violence or the real threat of violence against your employees/business. This may include medical and mental health expenses, funeral costs, loss of business, and a variety of other damages and liabilities.
Workplace violence insurance is a policy that protects a company’s liability in the event of an act of violence (a criminal act, active shooter, personal dispute with a client or outside relationship, etc.) taking place on company property, a job site, or a work-related function.
Watch this video to see if your company should have Cyber Liability apart of your Business Insurance Policy. Let an Ansay Advisor know if you want to hear or learn more
Does your company have D&O Coverage? If not, take a look and see why your company may need this. Please contact an Ansay Advisor for more details on how to make sure you are covered properly!
What you need to know about properly insuring a junkyard or salvage yard when everything around seems like a potential liability.