5 Risks of Hiring an Uninsured Contractor
Introduction Hiring a contractor for your construction project is a crucial decision. One key factor that is often overlooked is whether the contractor carries adequate insurance. Hiring uninsured contractors can expose your business to severe risks, including legal penalties, financial losses, and safety hazards. As a project owner or general contractor, ensuring that every contractor…
How Return-to-Work Programs Impact Workers’ Compensation Costs
How Return-to-Work Programs Impact Workers’ Compensation Costs One of the most effective ways for businesses to manage workers’ compensation expenses is through Return-to-Work (RTW) programs. These programs allow injured employees to return to work on light duty while they recover, reducing the length of absence and helping control insurance costs. For small and medium-sized businesses…
Six Trends Affecting Commercial Auto Insurance
Six Trends Affecting Commercial Auto Insurance Commercial auto insurance plays a crucial role in protecting businesses that rely on vehicles, whether for deliveries, services, or transporting employees. However, the landscape of commercial auto insurance has been evolving, driven by multiple trends that have resulted in rising costs and limited coverage options. Business owners in Delaware,…
The Importance of Safety in Construction: Protecting Your Team and Business
The Importance of Safety in Construction: Protecting Your Team and Business Safety is a priority for any business, but for construction companies, it’s a matter of life and death. The risks in this industry are high, and without proper safety measures in place, accidents can lead to serious injuries, financial loss, and legal consequences. Small…
Why Blue-Collar Business Owners Should Consider Life Insurance for Their Retirement Plans
When planning for retirement, many blue-collar business owners focus on savings and investments to secure their future. However, one crucial piece of the puzzle that often gets overlooked is life insurance. Incorporating life insurance into your retirement strategy can protect your assets, grow your wealth, and ensure financial security for you and your loved ones….
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…