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Jul 18

2019

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Authoradmin

Posted inBusiness Insurance, Business Risks, California Auto Insurance, Healthcare, Healthcare Reform, Home Insurnace, Travel insurance, Uncategorized

TagsCalifornia business insurance,

What A Trusted Insurance Partner Looks Like

People buy insurance to protect their family and financial assets from a loss. So when a loss occurs, most people expect their insurance to step up and take care of the issue. Understanding insurance and the process involved in designing a policy can help prevent a standard claim from turning into a disaster.

Difference Between An Insurance Agent And A Trusted Insurance Partner
An insurance agent sells you a policy. A trusted insurance partner is someone who will help you understand how insurance works and helps you to design a personal insurance program design for your individual needs.


There Is More Than Just Coverage:

Every insurance policy offers basic coverage like coverage for your home and personal property. A trusted insurance partner will go beyond this and counsel you on how much coverage limits you may need and the benefits of modifying deductibles based on your financial capabilities.


The Importance Of A Deductible And Limit Review:

Your policy has coverage limits and deductible that will apply to each loss or claim. We can help you understand how these work and the value to you of adjusting these based on your individual needs.

For example, if you have a higher net worth, it might make more sense for you to increase your deductible to take advantage of lower premiums. If you have less cash on hand, then having lower deductible can offer the advantage of less out of pocket expense in the event of a loss.

We will also help you understand the importance of having the correct limits on your homeowner’s insurance policy. As we stated above, you buy insurance to protect your financial resources, like your home. If your home is damaged or destroyed by a covered loss, you want it to be replaced.

Having replacement cost coverage and limits based on the cost to replace your home is critical to achieving your goal. We help you understand the value of viewing insurance as more than just a policy. It is a relationship with your agent and the insurance company. Your agent can become a trusted partner and help you with many areas of your personal insurance.

This involves building a relationship of trust. You will want to have a comfortable, professional relationship with your agent, so you can ask questions and get the straightforward responses you deserve.

Your agent can build an insurance program that provides sound insurance and risk management that adds value. And in the long run, value is much better than a low price.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

Jun 18

2019

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Authoradmin

Posted inBusiness Insurance, Business Risks

TagsBusiness Insurance, Commercial insurance, Cyber laibility, risk,

Top Business Insurance Risks

Top Business Insurance Risks

According to insurance experts, here are the top five business risks:

The Allianz Risk Barometer surveyed more than 500 risk managers and corporate insurance experts in 47 countries, to identify the primary challenges facing businesses this year.1 

While these are responses from large corporations, we take away many applications for medium and small businesses. Here are some of the risk issues for 2015.

  1. Natural Disasters – These issues are always a concern for small and medium business. We can offer flood, earthquake and wind insurance as your needs arise.
  2. Cyber Liability– Cyber liability and data theft is one of the hottest topics for businesses, risk managers and insurance companies. 2014 had some of the biggest data thefts that we have seen. But even more interesting, is that small businesses are exposed more than large businesses. In fact, 25% of data breaches affect businesses with less than 50 employees. A small business has a greater chance of having a cyber breach than it does of having a fire.
  3. Government mandates and regulations – There continues to be increased oversight from government in healthcare and financial reporting that creates new risk and liability for businesses.
  4. Political and Civil Issues – As seen in 2017, political and civil issues have a direct impact on many small businesses. Having the right kind of business insurance is important to protect your business in the event of civil riots.
  5. Business Interruption – If your business has a loss and you are unable to operate for a period of time, you will need financial resources in order to get back in operation. You may even need to continue payroll for a period of time. Business interruption insurance can provide these resources.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

Jun 12

2019

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Authoradmin

Posted inHealthcare, Travel insurance, Uncategorized

Tagstravel insurance,

International Travel Health Insurance

International Travel Health Insurance

You and your family have just finished planning your dream trip abroad. But wait, there is one more step. Get travel health insurance from our agency. Travel health insurance provides peace of mind to world travelers and expats living abroad anywhere in the world via an elite network of providers, innovative mobile and online tools, and customer service.

Why Consider Travel Medical Insurance?

Travel medical insurance provides you with peace of mind for a wide range of medical situations, including medical evacuation. 

When Should I Buy Travel Medical Insurance?

The best time to buy it is before you leave for your vacation.

At Roussel Insurance we strive for trust and reliability with our clients. Through our 32 years in the insurance business we have learned to achieve immediate and sustainable cost savings for businesses and individuals. We can help find you the right insurance options, so that no matter what your budget is we can minimize you’re spending and easily meet your needs. To learn more about us and what we offer, make sure you browse through our personal and business services. Lastly, do not miss our blog page! All our blogs are informative, so we can help make insurance more understandable.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

Jun 09

2019

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Authoradmin

Posted inBusiness Insurance, Business Risks

TagsBusiness Insurance, Commercial insurance,

Your Private Business Is Exposed to Directors and Officers Claims


Directors and Officers (D & O) Liability Update

Every business, no matter what the size, has a D & O exposure.  Some people may mistakenly think that D & O risks are just for large firms, but actual court cases tell a different story.  D & O claims come about because of decisions made by the firm’s officers and employees.  Claims can come from employees, competitors, investors, and the government.  Most of these kinds of claims are not covered under a standard commercial insurance policy.

Here are some interesting facts brought to you by the Insurance Information Institute:

  • Over 53% of privately held firms have had D & O related claims.
  • Twenty-five percent of companies have had an employment related claim.
  • The average defense cost for a D & O claim is around $75,000.
  • Firms with less than 50 employees have the same percentage of claims as larger firms.

Here are some of the kinds of claims to which your business is exposed:

Misrepresentation

If you misrepresent your company’s services, financials or other information, third parties may sue you for your actions.  This can include services you say you provide on your webpage or financial information you provide to a lender.

Breach of Duty

Your firm’s officers and employees are required to carry out their duties with a standard of honesty and professionalism.  If these legal duties are breached, you are subject to litigation by the injured party.

Employment Issues

Your employees can sue the business for a variety of employment issues that can be covered under a D & O or employment practices liability policy.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

May 22

2019

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Authoradmin

Posted inBusiness Insurance, Business Risks

TagsCalifornia business insurance, Commercial insurance,

How Your Small Business Can Avoid Insurance Blunders

Concept of risk and crisis in business

How Your Small Business Can Avoid Insurance Blunders

A Commercial Insurance Update

Small business owners work very hard to keep their operations running smoothly.  Running a small business takes a lot of personal dedication, but the rewards can be significant.  It is essential to have the right kind of commercial insurance in place in order to protect your assets and help increase profit.

Business insurance can be complex, and small business owners do not always take the time to understand their risks.  Here are a few areas where small business owners can make big insurance mistakes.

  • Not using an independent agent. Independent agents have access to many markets, and can shop your business insurance to get you the best possible combination of coverage, price, and service.
  • Forgetting that your insurance can include loss of income.  Also known as business interruption insurance, this coverage deals with loss of business income in the event of a disaster that is covered by your policy.  You need loss of income insurance to help you recover if your business is shut down because of a covered loss.
  • Not considering coverage for cyber losses.  Cyber risk is one of the fastest growing risks small businesses face.  If your business suffers a cyber breach, the cost of notification can run $250 per individual.
  • Buying insurance, you do not need.  Often small businesses have insurance they do not need, but conversely they fail to consider insurance that can help save the business in the event of a loss.  Our professional staff can help review your risk and help you make an informed insurance buying decision.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

May 16

2019

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Authoradmin

Posted inBusiness Insurance

TagsEarthquake insurance, safety,

Earthquake Insurance…The Key To Your Future


There is no denying the fact that the success of a business depends on the hard work of the team, but one disaster can wipe out your efforts and bring down the profits to dust. So, to avoid such an instance, you need to insure your business, whether it is a small enterprise or a large corporation.  Have you considered earthquake insurance?

“California has more than a 99% chance of having a magnitude 6.7 or larger earthquake within the next 30 years, according to scientists using a new model to determine the probability of big quakes. The likelihood of a major quake of magnitude 7.5 or greater in the next 30 years is 46% – and such a quake is most likely to occur in the southern half of the state.”  www.sciencedaily.com

Typically, earthquake insurance covers damage to your business and your personal property. Most policies also cover costs incurred to minimize further damage after the earthquake, plus costs for additional expenses. Deductibles are generally 10-15% of the insured amount.

Our Solutions Include

  • Perils:  Earthquake and Flood
  • Limits up to $50mm available
  • A.M. Best Ratings of “A” or better
  • Admitted and Non-Admitted Markets
  • Capacity in all 50 states
  • Deductibles as low as 5% in California and 2% in other states

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

May 09

2019

0

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Authoradmin

Posted inBusiness Insurance, Business Risks, Uncategorized

Tagsworkers compensation,

Workers’ Compensation Best Practices

As a business owner, you go to great lengths to provide a safe working environment for your employees. But when dealing with humans, accidents can happen and Workers’ Compensation Insurance can help. Workers Compensation Insurance should be an important part of your risk management program.

What is Workers’ Compensation?

Workers’ compensation insurance is insurance that provides lost income, medical benefits, disability benefits, and rehabilitative services for workers injured on the job or while performing work-related duties.

Why Your Business Needs Workers’ Compensation Insurance

When one of your employees gets hurt on the job or has a work-related illness, only workers’ compensation will cover them. Health insurance benefits will not provide coverage for on the job injuries.

-What Is The Best Way To Keep Costs Down? Provide training for hazardous work, especially for new or inexperienced workers.

-Enforce safety rules and practices.

-Enforce drug and alcohol rules.

-Require safety equipment to be worn at all times.

-Keep work areas clean.

-Do not wear loose clothing or jewelry around machinery.

-Where required, you must wear protective equipment such as goggles, safety glasses, masks, gloves, hair nets, etc. appropriate to the task.

-Safety equipment such as restraints, pull backs, and two-hand devices are designed for your protection. Be sure such equipment is adjusted for you.

-Do not ever remove machine safety guards.

-Develop a system for reporting unsafe practices.

-Have monthly safety meetings that review safety issues and related topics.

-Create accident investigation procedures that focus on prevention and change.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

Apr 26

2019

0

Comments

Authoradmin

Posted inBusiness Insurance, Business Risks

Tagsworkers compensation,

How Business Interruption Insurance Protects Your Business

How Business Interruption Insurance Protects Your Business

Business interruption insurance can be as vital to your survival as a business as fire insurance.  Most people would never consider opening a business without buying insurance to cover damage due to fire and windstorms. A business that has to close down completely while the premises are being repaired may lose out to competitors. A quick resumption of business after a disaster is essential. Business interruption coverage is added to a property insurance policy or included in a package policy.

Business interruption insurance compensates the owner for lost income if the company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire.  Business interruption insurance covers the revenue you would have earned, based on your financial records, had the disaster not occurred.  The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.

Make sure the policy limits are sufficient to cover your company for more than a few days. After a major disaster, it can take more time than many people anticipate to get the business back on track.  There is generally a 48-hour waiting period before business interruption coverage kicks in.

The price of the policy is related to the risk of a fire or other disaster damaging your premises.  All other things being equal, the price would probably be higher for a restaurant than a real estate agency, for example, because of the greater risk of fire. Also, a real estate agency can more easily operate out of another location.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

Apr 11

2019

0

Comments

Authoradmin

Posted inBusiness Insurance, Business Risks

Employment Practices Liability Insurance (EPLI)

The number of lawsuits filed by employees against their employers has been rising. While most suits are filed against large corporations, many are still filled against small companies. Recognizing that smaller companies now need this kind of protection, we provide this coverage as an endorsement to our Business Owners Policy (BOP).

EPLI provides protection against many kinds of employee lawsuits, including claims of:

  • Sexual harassment
  • Discrimination
  • Wrongful termination
  • Breach of employment contract
  • Negligent evaluation
  • Failure to employ or promote
  • Wrongful discipline
  • Deprivation of career opportunity
  • Wrongful infliction of emotional distress
  • Mismanagement of employee benefit plans

The cost of EPLI coverage depends on your type of business, the number of employees you have and various risk factors such as whether your company has been sued over employment practices in the past. The policies will reimburse your company against the costs of defending a lawsuit in court and for judgments and settlements. The policy covers legal costs, whether your company wins or loses the suit. Policies also typically do not pay for punitive damages or civil or criminal fines. Liabilities covered by other insurance policies such as workers’ compensation are excluded from EPLI policies.

To prevent employee lawsuits, educate your managers and employees so that you minimize problems in the first place:

  • Create effective hiring and screening programs to avoid discrimination in hiring.
  • Post corporate policies throughout the workplace and place them in employee handbooks so policies are clear to everyone.
  • Show employees what steps to take if they are the object of sexual harassment or discrimination by a supervisor. Make sure supervisors know where the company stands on what behaviors are not permissible.
  • Document everything that occurs and the steps your company is taking to prevent and solve employee disputes.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

Mar 27

2019

0

Comments

Authoradmin

Posted inBusiness Insurance, Business Risks

TagsBusiness, Business Insurance, California business insurance, EEOC, EPLI,

The Latest From The Equal Employment Opportunity Commission (EEOC)

The Latest From The Equal Employment Opportunity Commission (EEOC)

The EEOC just released the latest numbers relating to employment claims, and they remind us of the need for employment practices liability insurance.

  • Retaliation was the most frequently filed charge with the EEOC in 2018, followed by race and disability.
  • Sexual harassment charges with the EEOC increased by 13.6%, based on preliminary 2018 results.
  • Monetary awards recovered for victims of sexual harassment increased by 47.4%.
  • The #MeToo movement and resulting publicity have caused visits to the EEOC sexual harassment website page to more than double over last year.

We can offer a very comprehensive and affordable Employment Practices Liability Insurance (EPLI) products available in the industry today.  Coverage can include protection against allegations of discrimination, harassment, wrongful termination, and retaliation. Coverage can be further enhanced to include Wage and Hour and Third Party Wrongful Acts. 

At Roussel Insurance we strive for trust and reliability with our clients. Through our 32 years in the insurance business we have learned to achieve immediate and sustainable cost savings for businesses and individuals. We can help find you the right insurance options, so that no matter what your budget is we can minimize you’re spending and easily meet your needs. To learn more about us and what we offer, make sure you browse through our personal and business services. Lastly, do not miss our blog page! All our blogs are informative, so we can help make insurance more understandable.

This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.

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