Wednesday, March 13, 2019

Considerations when Buying Insurance for Your Business

Family in convertible car smiling


If you’re just starting a business, there are several pieces involved to get your business up and running. In addition to securing the right loans to get your operations off the ground, you need to hire the right staff and bring in customers. In addition, there are other things, such as obtaining insurance, that you’ll need to do before you can open. Here are some insurances you should consider for your business.

Auto Insurance

If your business has a company car or operates a fleet of vehicles than having auto insurance is a must. The auto insurance daytona beach fl offers to companies is an invaluable way to protect yourself and your company. You need to be sure that your business and whoever operates your vehicles are protected in the event of an accident.

Workers’ Compensation

If your business will employ people, then it will be required for you to obtain workers’ compensation insurance. This type of insurance protects both you and your employees if they suffer from a workplace accident. They’ll be provided for while they’re out of work and you won’t have to worry about covering the costly burden of their unemployment and medical expenses out of pocket.

Property Casualty

This vital insurance can protect you and your business if someone gets hurt while on your premises. If you operate a business that will have customers on your grounds often, such as a tourism business, then having this insurance can be a lifesaver if someone gets hurt and tries to sue you.

Product Liability

If your business creates and sells a product, then product liability insurance can cover you if you run into an issue with the quality of your products. This includes if there is a defect with one of your products that may cause consumers to want a recall or if they sue you.

These insurances can be a lifesaver for your business. Not only can they save you money but they can also help you keep your business operating while you’re in the process of litigation if something happens.

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Wednesday, March 6, 2019

Understanding the Temp Agency Opportunity


To begin with, it’s not always easy to find a temp agency to match your skills with the right industry. Before you give up, think about that employment catch 22 that plagues everybody. You can’t get a job if you don’t have contacts, but it’s hard to have contacts if you’re not working in a job. Even though the world isn’t perfect, a temp agency still seems like the perfect springboard to the job of your choice. Surely, you can find a responsive temp agency.

Opportunity is Knocking

In particular, you may have hooked up with an agency that didn't put your interests ahead of its own with the result that you were stuck somewhere strange and unknown. The key to success is to get the temp agency to really look at what you have to offer. Above all, see that the agency’s attention paid to your personal skill set is significant. You should feel like you’re important to them.

You Need Help Today

With this in mind, find a temp agency that understands how the process of hiring works. If you’re trying to find a job in Industry A, the agency can expedite your search fast. It just makes sense because the sooner you get placed, the sooner the agency’s responsibility is complete. A little recognition of your substance can make all the difference. That’s why you might want to consider all the responsive temp agencies in Boston ma when you’re looking.

Get Placed Quicker

In like fashion, a temp agency that focuses on your importance is moving on your behalf. They can discuss with you your skills so they best understand where you belong. They might even be able to demonstrate that they have opportunities waiting in a wide range of industries and businesses. If that’s true, it would difficult to fail.

Whenever you are breaking into an industry, do not brush temp agencies aside because they don’t understand you. Take a look through a new pair of glasses so you can see clearly which temp agency is most responsive to your needs.

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Hiring a Company to Perform Background Checks


Do you own a business? If this is the case, you need to be sure that the people you hire are honest and do not have any serious crimes in their past. The only way to be sure about this is to have a background check performed. This will allow you to see all of the crimes that the person has been convicted of. You can then make a decision as to whether or not you want this person working for you. Here is how you can go about finding a reputable company to perform all of your employee background checks for you.

1. Talk to other people who have hired background check companies in the past.

It would be in your best interests to reach out to other business owners who also needed to find a company they could trust to perform all of their employee background checks. How did they determine the company they eventually hired? Have they been happy with the way that company has performed for them? Has there been any problems so far? How much does the company charge for their services? All of this info can be very useful when you finally begin your quest for a company that offers employer background check services.

2. Look on the website of the Better Business Bureau.

The BBB will have many different profiles of companies that will perform background checks for your business. You will be able to read about each one and learn a lot about what each company has to offer. This will allow you to weed out the lesser companies. Your search will be a lot easier. You should pay close attention to the letter grade that is given by the BBB to each company.

3. Find out how much each company is going to charge you.

You should compare the fees that the various companies in the background check industry are going to charge you. This will allow you to save money by finding the best deal. You will then be able to make a wise decision that will be financially responsible.

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Wednesday, January 16, 2019

Understanding Group Captive Insurance

When an insurance company sets the premium you pay for your coverage, it does it based on the law of averages. If your history shows you’ve filed more claims than average, you get a higher premium than someone who has never or rarely filed a claim. And it works the same way for businesses. That’s where group captive insurance comes in.

Many savvy business owners have come to the conclusion that, because they run their companies well enough to keep insurance claims to a minimum, they shouldn't have to subsidize more poorly managed operations. And by teaming up with other well-run businesses in the same field, they can save money by starting and funding a group captive insurance company.

How It Works

Because the captive is run on a one-company, one-vote system, the smallest members are on equal footing with the largest ones. And only the captive’s members are allowed on its BOD. In most cases, about $4 of every $10 the captive spends in premiums goes to the costs of running it. These include issuing policies, examining and paying claims, reinsurance and controlling losses.

Benefits

Your traditional insurance premiums pay for much more than protection. They also cover agent commissions and advertising and administrative costs, all of which boost the carrier’s profit margin. By joining a cost-reducing captive, you’ll boost your own profits instead!
Your group can also choose insurance products that best meet the needs of each member. A qualified group captive insurance management firm can help you prevent predictable losses. As losses drop, the captive's assets rise. They're invested -- and eventually distributed as dividends.
The captive covers each member up to a preset limit and contracts with a standard insurance carrier to cover claims over that. No member ever faces catastrophic losses.

The Bottom Line

If you like the idea of joining other well-run businesses in your field to boost your bottom line in an unconventional way, group captive insurance could be the answer!

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