Renewal time!

Once a year, your business will get a piece of mail stating that its business insurance is up for renewal.  In most cases, it will include a quotation of the premium and a request for payment.  It is tempting for the busy entrepreneur to just make the payment and not worry about the issue for another year.  In a high growth company however, a lot could have changed over the last 12 months and your business may no longer be adequately covered by your existing policy. We recommend that the insured work with their broker to review coverage needs prior to the expiration of the existing policy. The first question … Continue reading

Year end parties: having fun whilst covering the risks

December is a time to reflect on the year that has gone by as well as a time to start planning for the next one.  It is also a time that businesses have holiday parties to celebrate the season with their employees as well as their customers.  The celebration can be something as simple as a pot luck held in the break room or as elaborate as one’s creativity and budget permit. Although this is a time for celebration, there are also risks associated with having a holiday celebration.  When alcohol is served, the issue of liability should someone become intoxicated and injure someone or damage property because they are … Continue reading

Insuring your inventory

We have been receiving a lot of queries recently about how inventory is valued by an insurer in the event of a loss.  One common question is, “Why do I get what I paid to buy the inventory rather than the retail price I charge for the inventory?” This post aims to clarify how inventory is typically valued for insurance purposes. For more information on our Business Owners Policy product which can cover your inventory, check out the link: Claims settlement is based on the principle of indemnification.  That is, you will be put back in the position you were in before the loss occurred.  What this means in … Continue reading

Promote Your Landscaping Business Without Busting the Bank

Your lawn care business is officially open, you did little to no promotion and your phone won’t stop ringing off the hook… said no one ever. But have no fear: Even though launching a new business can be difficult, a good balance of self-promotion and personal references can propel any business in the right direction. 1.     Define your mission: This sounds simple, right? You’d be surprised. Think of a time when someone asked what you do for a living or what services your business offers. More times than not, those answers were laced with “uhs” and “ums” as you fumbled through your company’s services or products. Start by identifying what … Continue reading

Insurance for Independent Contractors Now Easier and More Affordable than Ever

The employment landscape is rapidly changing, thanks to improving technology, growing demand for worker independence and a recession that led many people to go into business for themselves as independent contractors (ICs). ICs are a rapidly expanding percentage of the overall work force – 31 percent of the US workforce is currently self-employed, and this number is expected to leap to 50 percent by 2020. The problem with traditional insurance solutions This dramatic shift in the work environment has led to a variety of changes – and challenges – for established organizations and the ICs that they work with. Many companies required the ICs to have insurance in place before … Continue reading

Business Insurance Explained: “Occurrence” vs. “Claims Made”

Even with the best intentions, the insurance industry can be quite confusing at times. A great example is the subtle yet important concept of “Occurrence” business insurance policies vs. “Claims Made” business insurance policies. These are relatively obscure sounding terms that can have big consequences on how your coverage responds. Occurrence policies respond to events that happen while the policy that was in effect. This is true regardless of how far back that event was from the time the actual claim was reported to the insurance company, or whether the same insurance company is currently insuring your business. An example is someone who trips in an office, but doesn’t experience … Continue reading

Why Insurance for Consultants is a ‘No Brainer’

As a small business owner, you are entrepreneurial by nature and open to taking personal risks that have the potential to result in long-term financial gain. This is likely why you decided to start your own business and probably one of the main contributors to your eventual success. However, even with the most optimistic of business intentions, bad things can and do happen. We live in a society in which anyone can be sued, at any time, for any reason. This means that small consulting businesses that otherwise are operating well, have the potential to be crippled in a matter of months by unexpected litigation. Unforeseen “catastrophic” events are the … Continue reading

Introducing BizInsure’s New Partnership with the Career Thought Leaders Consortium

BizInsure is pleased to announce our new partnership with the Career Thought Leaders Consortium! The Career Thought Leaders Consortium ( is a nationally recognized think tank of career industry professionals who are focused on innovating all phases of career development and job search. Today, in response to their members’ request, preferred access to BizInsure has recently been added to its pool of member benefits. BizInsure makes it easy for Career Thought Leaders members to obtain instant access to the insurance coverage that they require, in a unified manner, at competitive prices. BizInsure is the organization’s preferred provider of Professional Liability Insurance (E&O), General Liability Insurance (GL), and Business Owner Insurance (BOP). Using BizInsure’s online platform, large companies and … Continue reading

Who Needs Professional Liability Insurance

Professional liability insurance is the one form of business insurance that most professional service providers agree is non-negotiable. While they may waver over whether or not to get insurance for their business property, autos, or even for their personal lives, most professional service providers agree that professional liability insurance is a necessary cost of doing business. While many ask why this is so, others know the value of it, especially if they have been in litigious situations in the past. The unfortunate reality is that our society is becoming more litigious by the day as opposed to less so.   For those who work within a professional capacity such as … Continue reading