Delaware Experience Rating Plan Update: What Blue-Collar Business Owners Need to Know
The Delaware Compensation Rating Bureau (DCRB) has recently updated its Experience Rating Plan (ERP). This plan directly impacts how workers’ compensation premiums are calculated for businesses. If you’re a blue-collar business owner, here’s what you need to know about the changes and how they could benefit you. What is the Experience Rating Plan? The Experience…
Long-Term Disability Income Protection for Business Owners: What is it?
Introduction Long-term disability income insurance is a crucial safeguard for business owners, particularly those who are hands-on in their operations. For small to medium-sized enterprises (SMEs) in the manufacturing, automotive, construction, and wholesale industries, the physical and hands-on nature of the work makes the risk of disability a significant concern. This insurance ensures financial stability…
Why Cyber Crime Needs to Be Your Next Business Insurance Purchase
Introduction In today’s digital age, cyber crime poses a significant threat to businesses of all sizes. For small to medium-sized enterprises (SMEs) in the manufacturing, automotive, construction, and wholesale industries, the risks are particularly high. Cyber insurance has become an essential component of risk management strategies, providing crucial protection against the financial and operational consequences…
Long-Term Care Insurance 101
Long-Term Care Insurance: A Thing of The Past? Long-Term Care (LTC) Insurance is one of those things that clients usually ask me about when they’re preparing to retire. Either they have a friend or family member in a LTC facility or they read about it somewhere. This triggers an initial outreach to learn more about…
Hot Take: Insurtech Carriers Are Doing More Harm Than Good For Small Business
Insurtech: No Good for Small Business This blog stems from a recent real-life scenario we’re going through with one of our newest clients. For this specific scenario, we’ll refer to this business as ABC Development. ABC Development is a home remodeler that specializes in high-value kitchens and additions for residential properties. Two years ago, they…
Contractors Errors & Omissions (E&O) Insurance: Why You Probably Don’t Have It & Why You Definitely Should
Contractors Errors & Omissions (E&O) Insurance Every year, I sit down with dozens of contractors to review their policies and any gaps in coverage they may have. Because our specialty lies within the electrical, plumbing, HVAC industries, the majority of my clients are subcontractors on all of their jobs. As a result, many of them…
Inland Marine Insurance for Contractors: What is it?
Inland Marine Insurance for Contractors: What is it? From the outside looking in, it’s not uncommon to think that contractors don’t have a ton of assets. Many contracting businesses are run from a home office or a small rented space. For someone unfamiliar with the industry, it might appear that contractors don’t have a ton…
Business Insurance Quotes: How The Process Works
Business Insurance Quotes: How The Process Works Every year, millions of businesses have to renew their business insurance at some point during the year. As renewal time approaches, some businesses sit back and leave things on autopilot while others proactively seek out alternative options. Of the businesses that entertain other business insurance quotes, I would…
Creating Tax-Free Income Using Life Insurance: A Case Study
How Can Life Insurance Create Tax-Free Retirement Income? Life insurance isn’t usually the first resource people think about when planning for retirement. Usually, that’s because it’s not at the top of most financial advisors lists for their clients. And while I’m not here to tell you to forget everything your advisor has said about planning…
Business Succession Planning: How Far In Advance Should You Begin?
Thinking About Selling Your Business? Here’s When You Should Start Planning Most small business owners don’t start their own business so they can work in it forever. In order to make their business successful, most entrepreneurs just put their head down and grind. Unfortunately, when they finally come up for air and decide they want…