Small business insurance and unemployment insurance costs

There’s one unchanging fact when running a business. No matter what the size, you cannot separate the business from its market. It’s for the owner to identify the market niche and sell to it consistently enough to generate a profit. Should something happen to disturb the confidence among the customers/clients, there’s a real risk the business may be lost. This is the current problem for small businesses across America.

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Business insurance for directors and officers

One of the features of a country that could benefit from a little moderation is the knee-jerk reaction of many people who suffer a loss and feel they should sue the ones possibly responsible. For decades, the major growth industry has been the business of litigation attorneys. They have been printing money on the back of their willingness to sue anyone and anything that moves. This is not to make a moral judgement. That’s what we pay them to do and, for the most part, they do it very effectively.

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Business insurance and the distracted driver

So many moons ago – you may prefer not to remember how many – there was an immortal line that propelled Convoy by C. W. McCall into pop history. It was, “Breaker, breaker one nine, this here’s the Rubber Duck. . .” Those were the days when it was cool for everyone to have a CB radio. This was a hand-held microphone and, when the speed-limit was reduced to 55 mph to deal with gas shortages, chatting on air was a good way of passing the time on longer journeys. We have come a long way in terms of technology, but the distances to be covered remain as immense as ever.

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Business insurance rates on the rise again

We live in the cradle of capitalism. No matter what the Occupy movement may actually want to happen to Wall Street (and that’s by no means clear), the underlying truth is we all depend on the financial system for America’s economy to work. It’s therefore reassuring when we see the latest consumer survey show confidence at the highest level for the year. As a nation, we are starting to buy more goods and services. With increased demand, our industrial and service sectors can slowly return to profit.

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Business insurance vs business needs

It may be a statement of the obvious but the way business is run today is rather different to the ways of two hundred and more years ago. We often forget the first insurance company was created in 1752 by Benjamin Franklin in Philadelphia. At that time, the main risk to any business was fire because, without alarm systems and rapid response pumping equipment, a building and stored merchandize could burn to ash before help arrived. The risk profile today includes fire but we have moved on to a much wider range of situations never dreamed possible by our ancestors. Can you imagine trying to explain the problems of a cyberattack and data loss? So, in our modern world, what is the best strategy for getting the best insurance portfolio?

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Business insurance and the cost of replacing damaged property

The whole point of any insurance deal is to shift the risk from your own pocket to the pockets of all the other insured. Spreading the costs among a big pool of other businesses reduces your own payments. But the main issue is always going to be the way in which the insurer values the loss if and when you make a claim. Although it’s an obvious statement that you do not want your own business to pay for replacing property used in the business, exactly how do you ensure the premium is less than the cost of replacement?

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Business insurance and social media marketing

One of the new “games” to play in reputation management is to suggest your business is in some way friendly to the environment. An increasing percentage of the population believes you run a better business if it is more sustainable and “green”. In this, there’s actually an ironic benefit. Insurance companies also believe you should run your business in ways that reduce risk. This means keeping all your policies, processes and procedures under review to ensure they are safe.

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Business insurance and protecting the environment

One of the new “games” to play in reputation management is to suggest your business is in some way friendly to the environment. An increasing percentage of the population believes you run a better business if it is more sustainable and “green”. In this, there’s actually an ironic benefit. Insurance companies also believe you should run your business in ways that reduce risk. This means keeping all your policies, processes and procedures under review to ensure they are safe.

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Business insurance as a commercial landlord

Before the recession, there was a constant stream of people wanting business premises, so being a commercial landlord made good economic sense. As evidence of this, look at the popularity of the Real Estate Investment Trusts (REITs). Across the US, there are a number of significant players that own office blocks, regional malls, shopping centers, healthcare centers, and residential accommodation. Despite the recession, these investment vehicles have continued to bring in steady dividends. This level of performance has not been matched by the owners of individual properties on Main Street or for private letting as residential accommodation.

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Business insurance and acts of terrorism

We all like to think we live in a world where nothing bad ever happens. Up until 9/11, there had been occasional events the government called home-grown terrorist attacks. You may remember Ted Kaczynski who achieved notoriety as the Unabomber, sending out bombs through the mail for some twenty years, and Timothy McVeigh who was responsible for the greatest loss of life through the Oklahoma City Bombing. These are rare individuals who become unhappy with the way things are and resort to extreme measures.

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