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Auto accidents are a significant risk for any business that operates vehicles. From increased liability and higher insurance premiums to lost productivity and potential lawsuits, vehicle-related claims can severely impact your bottom line. Whether you own a small fleet of trucks, lease a few cars, or rely on employees using personal vehicles, reducing auto claims…

Auto insurance can be complex, particularly for business owners who rely on vehicles to keep operations running smoothly. Whether you’re managing a fleet of trucks, company cars, or delivery vehicles, it’s essential to have a clear understanding of the terminology used in auto insurance policies. This knowledge helps you make informed decisions and ensures your…

Business owners often wonder whether the cost of insurance is tax-deductible. The good news is that many types of business insurance qualify as deductible expenses under IRS guidelines. According to the IRS, premiums for insurance that are “ordinary and necessary” business expenses can typically be deducted.  Deductible Insurance Premiums  The following types of business insurance…

Small businesses face many risks, and securing insurance is essential for protecting against these exposures. However, insurance premiums vary widely depending on several factors. Understanding what influences these costs can help business owners make informed decisions when purchasing coverage.  1. Type of Business and Industry  High-risk industries like construction and manufacturing typically pay higher premiums…

The construction industry is moving towards digitization, with technologies like artificial intelligence (AI), the Internet of Things (IoT), and Building Information Modeling (BIM) streamlining operations. However, these advances also open new doors for cybercriminals. As construction companies rely more on digital tools and store valuable data, they become increasingly attractive targets for cyberattacks.  Why Construction…

An economic downturn can be especially tough for small businesses, which often face increased pressure from supply chain disruptions and reduced cash flow. However, making the right adjustments can help your business weather the storm. Here are the main risks you should be aware of:  Supply Chain Vulnerabilities  The financial health of your business depends…

Discontinuing part of your business, whether it’s shutting down operations or discontinuing a product line, can leave you exposed to several risks. Even after you’ve shut your doors, liabilities persist. Here’s what you need to consider:  Product Liability Doesn’t End with Your Business  If you’ve ever produced a product that’s still in circulation, you remain…

Understanding the true cost of risk is crucial for small businesses in industries like construction, retail, auto services, and real estate. When we talk about the total cost of risk, we’re not just talking about the cost of insurance premiums. The price of risk management covers both tangible and speculative risks that can disrupt your…

Seasonal employees can help businesses manage surges in activity without committing to long-term hires. However, employing these temporary workers comes with unique legal and operational challenges.  Key Considerations for Hiring Seasonal Employees  Best Practices for Managing Seasonal Employees  Employing seasonal workers can be beneficial if done correctly. For more guidance on managing seasonal employment, contact…

Near-misses are often ignored, but they are key indicators of potential hazards in the workplace. A near-miss is any unplanned event that didn’t result in injury or damage but had the potential to do so. Understanding how to report and respond to these incidents can help businesses proactively avoid future accidents.  Why Reporting Near Misses…