Category Archives: Business Insurance

Business Insurance in Hazleton Pennsylvania

Strengthen Your Business by Taking Advantage of Risk Management

Every business faces risks. It’s virtually impossible, especially in the ever-changing business world, to form a company that’s risk free. However, there are steps you can take to minimize the problems these risks cause. If you know exactly what form the threats to your company take, you will be better equipped to handle them. The practice of evaluating your business’s threats is known as risk assessment and management, and it’s a vital part of superior business insurance in Hazleton, Pennsylvania.

Breakdown of Risk Management

There are many factors that go into creating a viable risk strategy for your business. When you partner with reputable insurance agents, they will determine your company’s risk based on:

The results of the specific inquiries will help insurance agents assign your business the proper coverage. They may even work with your company to resolve certain threats, further reducing your overall risks.

Empower Your Company

Knowing what threats your business faces is one of the best ways to protect it. You will be able to select the proper business insurance in Hazleton, Pennsylvania and help safeguard your company’s financial future. Empower your business to overcome its threats by performing a risk assessment. You can only tackle your risks once you know what they are.


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Selecting the Best Options for Alameda Business Insurance

Selecting the Best Options for Alameda Business Insurance

Every business owner needs to consider the array of Alameda business insurance products and services they might require in order to better protect their company and its assets. This often means aligning the company with an agency with access to many different insurance providers, coupled with the expertise to guide clients through various evolutions of insurance program designs geared to help with any changes or evolutions that might occur as their organizations develop.


Viable solutions are available, whether through reviewing deductibles, negotiation of partial self-insurance or loss sensitive programs, or ultimately to the consideration of alternative risk transfer vehicles, and the right firm can help provide high-quality counsel through all the various phases of growth and change.


The best brokers understand the risks being faced


A good agent is able to guide a firm through its renewal process and offer guidance, moving forward, in risk management practices and procedures beyond the placement of an insurance program. The insurance program purchased should be the most tangible representation of the company’s management of their own risk, but it should not be the core of any risk management plan. Sound fundamental practices and processes being instilled throughout the organization are the keys to helping manage and ultimately lower any overall cost of risk.


After all, a broker that is best serving his or her clients’ interest should not just be visible to them only during the months surrounding the renewal date. Most clients would agree that they depend on their agent to successfully re-evaluate their constantly changing needs and appreciate that type of focus from an agency the rest of the year, which has even more long-term value to them than the positive results they’ve come to expect at each annual renewal.


Some of the products and services to consider


The right insurance group can provide the following:


  • Commercial Property


  • Workers Compensation


  • Umbrella/Excess Liability Coverage


  • Errors & Omissions, and


  • Management Liability


These services should include a broad range of risk financing options, such as guaranteed cost, deductible or other partial self-insurance options, as well as captive insurance services, Directors and Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime, etc., for publicly traded or privately owned companies. The agency should also provide relevant claims examples and quantitative data regarding purchasing habits of peer companies.


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Making Smart Choices Regarding NJ Business Insurance

Making Smart Choices Regarding NJ Business Insurance

Running a successful business requires good products or services, good people and adequate amounts of NJ business insurance. There are several different categories of insurance required, or that may be a worthwhile investment. It is important for a business owner to purchase insurance before commencing operations. Regardless of whether it is mandatory or not to purchase insurance, it is wise for every business owner to look at their options and make sound decisions to ensure their business will be around for the long haul.


Here are some tips for insuring and protecting a business in New Jersey that will help in forming an understanding about available policies and coverages. Basic insurance for any business normally consists of coverage for property, liability and health. Therefore, the first step is to research what is out there and then decide which one of the packages best suits the company’s needs. The cost of insurance will differ depending on any additional coverage options that are offered.


Property insurance is the first line of defense


Property insurance protects the business from many losses, such as vandalism, theft and fire. Therefore, all expenses are covered in case the business is forced to close temporarily due to any covered loss. The cost of this coverage depends on several factors, including the type of business, location of the business, and the type of policy selected.


Health insurance is a must to protect a valuable asset: employees


Businesses are required to provide some form of health insurance for their employees. This type of coverage provides protection for the employees in case they get injured in the workplace, or during the course of doing work-related business away from the office or building.


There are different plans that are available, and the cost of coverage usually depends on the selected plan along with several other factors. Therefore, consider which is the best plan, depending on the number of employees and the nature of the operations, since different types of businesses have different sets of risks and exposures.


Liability insurance is the last block in the foundation


Liability insurance provides protection in case of injuries to visitors and customers. This is very important, since it can save the business from liability claims. The cost of this kind of coverage is determined by sales and payroll estimates among several other factors. There are many other NJ business insurance policies that a smart business owner will invest the time to learn about and decide if they are applicable to their needs.


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Business Insurance Rochelle Park New Jersey

Business Insurance in Rochelle Park, New Jersey and Cyber Concerns

Data breaches, network security, identify theft… these are terms that can leave a bad taste in the mouths of business owners. This type of exposure is running rampant in society today and is a concern that needs to be addressed by nearly every sector of the business community.


After all, these exposures are not exclusive to giant corporations or government agencies; any business that uses computers and stores private information of any kind can fall prey to those who have made it their business to attempt to steal private information for resale. Today, most companies have added cyber liability policies to their business insurance in Rochelle Park, New Jersey to address some level of cyber liability risk.


The insurance industry has addressed this emerging risk with various types of cyber liability insurance coverages. Whether the attack comes from external sources, or is perpetrated by an employee or someone with access from within, this is a coverage that most businesses simply cannot function without.


Cyber theft can be extremely costly to companies under attack


Just last year, federal prosecutors charged five men responsible for a hacking and credit card fraud spree that cost companies more than $300 million, which, at the time was the biggest cyber crime case filed in U.S. history. The five men, from Russia and Ukraine, hid their efforts by disabling anti-virus software of their victims and storing data on multiple hacking platforms, prosecutors said. They then sold card numbers to resellers, who then sold them on online forums or to other thieves known as “cashers” who encode the numbers onto blank plastic cards.


Small business owners face similar concerns


Data breaches can occur that often affect millions of records each year. Unfortunately, it is usually the smaller businesses that are most at risk. Malicious threats such as Malware, Spyware, and “Phishing” can create exposure, and the results are quite damaging. Non-malicious threats are just as dangerous, and problems like lost, stolen or misplaced laptops and cell phones, improper protection of company computer systems against unauthorized users, and internal network sharing/configuration errors can be equally at fault.


Companies are required by law to notify customers in their database whenever a breach is suspected, which adds even more concerns; mainly damage to a company’s reputation and the loss of customer confidence. When an owner factors in expenses needed to defend their business, the entire affair becomes quite costly. Without business insurance in Rochelle Park, New Jersey for cyber liability protection, things can turn sour very quickly!


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