Solutions to the Wrap-Up Exclusion Endorsement

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Does the Wrap-Up exclusion found in many Trade Contractors’ General Liability program fill you with dread? This exclusion has historically been a troublesome risk transfer issue.

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Topics: Wrap-Up, Contractual Risk Transfer

How to Increase Bonding Capacity For Contractors

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Often for Contractors, the time comes when you look at the upcoming bids list and wonder how you can qualify for the larger jobs that your competitors routinely go after. Bidding on larger jobs does require some planning. Here are some suggestions on how to increase your bonding capacity while still growing your company’s profitability.

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Topics: Surety

3 Common Loss-Sensitive Plans for Trade Contractors

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Every Trade Contractor that purchases insurance will be evaluated on their company size, operation complexity, and risk tolerance. There are a variety of risk financing options available to you. If you have a solid safety & loss control plan and good loss history, look at a loss sensitive plan, also referred to as a “performance-based program.” Here are some types of loss-sensitive plans:

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Topics: Risk Management, Trade Contractors

Trying to Insure Your Commercial Property? You Need to COPE

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If you are a commercial property owner in the process of trying to insure your property—whether it be an office building, apartment complex, or gas station, etc.—you need to be familiar with the acronym – C.O.P.E.

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Topics: commercial insurance

Safety Advice: 5 Ways to Keep Your Insurance Premiums Low

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When it comes to insurance, most companies are not excited to purchase it. Unfortunately, it is a necessary item for any business owner. Typically, you want good insurance coverage with low costs.

One way to make sure your insurance premium is low is to have a good safety plan. Good safety is the easiest way to lower your insurance premiums. Here are some ideas you can implement into your current safety program that will help lower your insurance premiums:

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Topics: Insurance Premiums, commercial insurance

How Succession Plans Impact Your Surety Program & Credit Facilities

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You have spent years building your company to the success it has now, but what happens when you want to retire? Figuring out how to carry on your legacy and transition ownership can be a challenge! This is not a decision you can rush into, and it’s important to understand the different succession options you have.

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Topics: Surety

Is a Workers' Comp Self-Insurance Program Right for Your Company?

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Workers’ compensation self-insurance programs are risk management techniques where a firm sets aside a pool of money to provide for any unexpected losses that occur. This is done instead of purchasing a third-party insurance program, also known as a fully-insured plan. So, instead of paying worker’s compensation premiums, that money is earmarked for this special fund to pay for any claims that are incurred.

There are different types of workers’ comp self-insurance available to your company.

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Topics: Workers' compensation, commercial insurance

The Difference Between Occurrence and Claims Made Policies

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Professional liability insurance protects professionals such as attorneys, accountants and consultants. Most professional liability policies only cover economic or financial losses that third parties suffer. Generally, they do not cover bodily injury and property damage claims, although there are some exceptions (i.e. physicians, engineers and architects). The most common professional liability insurance is errors and omissions insurance (E&O).

A professional liability policy is structured based on the coverage trigger—either occurrence or claims made.

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Topics: Claims Made Policies, Occurrence Policies, Professional Liability

4 Types of Commercial Auto Insurance You May Need

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Commercial Automobile Insurance is a policy that combines physical damage and liability coverages for amounts, situations, and usage of business vehicles that are not a personal auto policy doesn’t cover. This type of business insurance covers a variety of vehicles, from automobiles used for business—including company cars—to a wide variety of commercial trucks.

Within a Commercial Auto policy, there are 4 major types of protection that are usually offered. 

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Topics: commercial insurance, commercial auto insurance, auto insurance policy

A Look at the Workers' Compensation Marketplace

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A business owner’s workers’ compensation insurance requirements will vary by state, by industry and by the size of the company. The following list details the sources where a contractor can secure these benefits.

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Topics: Workers' compensation, workers' compensation marketplace

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