Wednesday, April 30, 2008

Florida Health Insurance Presents - Small Business Insurance

As a business owner, managing risks is a crucial factor in business success. However, first you must understand your risks. Review your operations to identify critical activities, such as:Responding to customersSupplying a product or serviceBilling and collecting moneyUsing outside suppliers and vendorsIdentify risks that could disrupt your businessThink about the following hazards that could disrupt your business activities:· A severe storm could interrupt power, making computers and phones unusable.· An earthquake could damage your business, making it impossible for suppliers to get to you or for your employees to get to your customers.· Computer theft could remove your customer and accounts receivable records.· Software theft could expose your customers to identity theft.· Your delivery driver could be involved in a serious accident with several other vehicles, damaging your truck, tools, and merchandise.· A customer could trip on a rug in your office and break his or her ankle or wrist, then sue you for liability.· Your product or utility suppliers could interrupt your business even though you suffer no direct damage at your premises.Reduce your business riskInsurance offers business owners a method to transfer the risk of property or financial loss in exchange for paying a premium to an insurance company. As a businessperson, it is your decision how much risk you want to transfer and how much you want to assume yourself. Legal requirements may demand that you carry insurance for some risks; depending on the type of business you operate. Think about the cost of premiums in relation to the chance a loss will occur, and how much it could cost. Improving building security, backing up online records or providing other power sources might help reduce the likelihood or severity of a loss.Choose an agent or broker· There are many kinds of insurance available to cover most types of losses. An agent or broker serves as an invaluable asset for your business. He or she can help you decide which policy you need, help you shop for the best coverage, and advise you when your coverage is not cost effective.· Agents can represent one or several different insurance companies. The company they represent pays them on a sales commission basis.· An insurance company does not appoint brokers. They represent you in the marketplace and can charge fees for their services.· Whether you decide to use an agent or broker, it’s very important that he or she act as your representative to the insurance company. A good agent or broker understands your business, not just the coverage they are selling you. They also understand the insurance company, how it handles and pays claims, and the rating and audit provisions of commercial policies.· Talk with friends, associates, an attorney, and financial consultant to ensure that your business advisors can work together.· Contact the Office of the Insurance Commissioner to determine if an agent or broker is licensed and in good standing. You also can find out if consumers have lodged complaints against your agent or broker and if they’ve received any disciplinary actions.Florida Health Insurance Lee Simanoff866-755-9009http://www.floridahealthinsurancecorp.comArticle Source:

Tuesday, April 29, 2008

Personal Injury Cases and Small Business Insurance

One of the most scandalous attacks on small business has come from personal injury lawyers as they file suits against innocent small business people claiming that negligence of upkeep or repair in their business location caused unnecessary injury to their client. Indeed some businesses are problematic yet in taking responsibility away from the shopper, customer or slip and fall fake it professional seems a little unfortunate.

You see it is widely known that many of these personal injury cases are in fact the fault of the faller and everyone knows it. Many fallers who later sue have an average of 2 or more previous cases where they have sued for monetary compensation from a small or large business. Indeed they find this to be a good way to make a living.

Often we also find chiropractors, doctors and lawyers all in the scam together with the client who claims to be so injured they are in constant pain. Lately private investigators and defense lawyers have gotten smarter and video taped those who claim to have injury doing all sorts of things like water skiing or lifting ATVs in and out of high-rise pick-up trucks. So if you think you are going to scam a business with a personal injury claim, just know we will be watching you every step of the way and then sue you for fraud.

"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; Lance is a guest writer for Our Spokane Magazine in Spokane, WashingtonArticle Source:

Small Business Insurance: Do You and Your Subcontractors Need It?

Of course, you need to check with an accountant or lawyer for specific information, but in this article, you'll learn what small business insurance has worked for our computer consultants and customers in the past.What Type of Small Business Insurance Do You Need?

You should definitely have both a general liability as well as a professional liability policy for your services. That professional liability should have the errors and omissions insurance rider folded into it as part of your small business insurance coverage.

How Much Will It Cost You?
This insurance will range in cost, but $3500 is about average. Typically, small business insurance companies will base your price on your size, in terms of employees, the sales volume you’re doing, and how they characterize you by risks.

Take time to carefully explain and look at the categories with your agent before they lump you into something that you’re not. A lot of times they might classify you into software developers which could be a very different risk category than network installers or resellers.

Do Your Subcontractors Need Small Business Insurance?
Yes, each of your subcontractors should definitely have general and professional liability and errors and omissions insurance. You should not be covering them. Otherwise what you’re doing is probably providing benefits that are more like what you would do for an employee as opposed to a contractor.

What's The Next Step With Your Small Business Insurance?
Talk to your attorney and talk to your insurance agent. If you have an insurance agent that takes care of your property and contents insurance needs, you should definitely sit down and talk with them. You might want to ask this question of your accountant also because they have a relatively similar business model in your same area.

Copyright MMI-MMVI, Small Biz Tech Talk. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}Joshua Feinberg helps computer consultant business owners get steady, high-paying clients. Learn how you can too. Sign-up now for Joshua's free audio training program that shows you how to use field-tested, proven Small Biz Tech Talk tools.Article Source: