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Captive, General Liability Insurance, Line of Insurance, Risk Financing, Risk Management, Risk Transfer, Workers Compensation Insurance

Why Current Economic Conditions Are Perfect To Restructure Your Insurance Program

In our opinion, there is no better time to consider alternative risk transfer as a strategy to get more cost-efficient with respect to your current commercial property insurance, commercial liability insurance, workers compensation insurance, & commercial auto insurance. As I write this the country and the world are about to exit the covid pandemic. If … Continue reading Why Current Economic Conditions Are Perfect To Restructure Your Insurance Program →

Captive, Line of Insurance, Practice Groups, Risk Financing, Risk Management, Risk Transfer

Reduce Costs At Scale By Restructuring Your Commercial Insurance Program

Have you ever wondered how utilizing captives, a high deductible insurance program, alternative risk transfer, self-insured retentions, or retrospective rating plans could further reduce your commercial insurance costs off your already low commercial insurance rates? Too often business owners are chasing the wrong rabbit. They think that by purchasing their commercial insurance for less than … Continue reading Reduce Costs At Scale By Restructuring Your Commercial Insurance Program →

Captive, Line of Insurance, Practice Groups, Risk Financing, Risk Management, Risk Transfer

What Is The Cost To Run A Captive Insurance Program?

How much does it cost to start and run a captive insurance company? It’s the most frequent upfront question we get from organizations that are looking at starting their own captive insurance company for their organization. The short answer is zero, but when we tell business this they’re left in shock.  After we walk them … Continue reading What Is The Cost To Run A Captive Insurance Program? →

General Liability Insurance, Risk Financing

What’s The Difference Between a Deductible & Self-Insured Retention In Your Commercial General Liability Policy?

With respect to your commercial general liability insurance policy; choosing between a high deductible or self-insured retention can have a major impact on your competitive position as your business competes on the street. We we want to give you some direction BEFORE you pick the insurance program structure for your commercial general liability policy. Difference … Continue reading What’s The Difference Between a Deductible & Self-Insured Retention In Your Commercial General Liability Policy? →

Construction Practice Group Content, Food & Beverage Practice Group Content, Human Services Practice Group Content, Marketplace News, Risk Financing, Risk Management, Transportation Practice Group Content, Workers Compensation Insurance, Workers Compensation Premium Audits

How Workers’ Compensation Class Code #8873 “Telecommuter Reassigned Employees” Can Help You Save Money On Your Insurance Premium

The New York Workers’ Compensation Insurance Rating Board (NYCIRB) has released a new class code for ‘Telecommuter Reassigned Employees’. If you are a business owner you might be wondering how do I adjust my workers’ compensation rates for employees that we kept on the payroll, but did not actually perform their duties? It doesn’t make … Continue reading How Workers’ Compensation Class Code #8873 “Telecommuter Reassigned Employees” Can Help You Save Money On Your Insurance Premium →

Cyber Liability Insurance, Loss Control, Risk Financing, Risk Management

Buying Cyber Insurance Does Not Protect Your Organization From Hackers

Understand that purchasing Cyber Insurance does not protect your organization from hacking. It simply finances some, not all components of the loss. A recent report by cybersecurity company Barracuda reported that Google-branded Spear Phishing attacks are up significantly since the start of 2020. These attacks only accounted for 4% of the total cyber attacks in … Continue reading Buying Cyber Insurance Does Not Protect Your Organization From Hackers →

Construction Practice Group Content, Food & Beverage Practice Group Content, HR Challenges, Human Services Practice Group Content, Loss Control, Practice Groups, Risk Financing, Transportation Practice Group Content

A Small Business’ Guide To The CARES Act

On Friday, March 25, 2020, the US Senate passed the CoronaVirus Aid, Relief and Economic Security Act (CARES Act), to help provide financial relief to the people and business of America. This bill is a $2 Trillion dollar relief in response to the economic fallout from the fast-developing Coronavirus pandemic. The CARES Act is meant … Continue reading A Small Business’ Guide To The CARES Act →

Risk Financing, Risk Management, Vlogs

MisAligned Goals

Commercial Insurance Is Essentially A Very Expensive Credit Line In Reverse…  Have you ever missed a payment on a Visa card only to watch your interest rate double because of that simple mistake? Misaligned goals are common and, unfortunately, costly. This happens all the time, and currently there is no way to take back that … Continue reading MisAligned Goals →

Captive, Line of Insurance, Risk Financing, Risk Management

What Are Micro Captives & How Can Your Business Utilize Them?

Let’s start from square one.  Captives, unlike insurance companies, are risk financing structures that do not pool risk between thousands of companies in exchange for a premium.  They are expressly built to act just like and replace insurance companies by efficiently managing claims and paying losses from a special captive account themselves.  The reason very … Continue reading What Are Micro Captives & How Can Your Business Utilize Them? →