An Insurance Blog

Does Liability Insurance Nullify the Need for Workers’ Comp?

Felicia A. Williams — Tue, 16 Apr 2013 11:15:04 +0000

Purchasing a liability insurance policy does not nullify the need for workers’ compensation. General liability policies provide coverage for claims and lawsuits filed by members of the general public, while workers’ compensation protects the business from claims/lawsuits filed by employees. General Liability Policy General liability policies protect businesses against third-party claims. Liability policies respond to [...]

Pension Bonding vs. Fiduciary Liability Insurance

Felicia A. Williams — Tue, 09 Apr 2013 16:35:24 +0000

A pension bond is a type of surety bond that protects the assets of an employee pension plan from embezzlement, mismanagement or other action by the plan manager that causes financial loss to the pension. Fiduciary liability protects the personal and corporate assets of the plan manager in the event of wrongful acts or breach [...]

Difference Between Liability & Fidelity Coverage

Felicia A. Williams — Tue, 02 Apr 2013 10:42:09 +0000

Liability coverage protects a business in the event a third party gets injured and files a claim against the business. Fidelity coverage, also known as employee dishonesty coverage, reimburses the business owner and not a third party. Both coverages protect the business entity, but they each pertain to a different aspect of the business. Public [...]

LLC vs. Umbrella Policy

Felicia A. Williams — Wed, 20 Mar 2013 21:50:45 +0000

An LLC (Limited Liability Company) and an umbrella policy both offer protection to the small business owner. One offers protection for the members of the LLC while the other protects the business entity. The protections afforded by both compliment each other. What is an LLC? There are four types of business entities, sole proprietor, partnership, [...]

How to Write Letters to Insurance Companies

Felicia A. Williams — Wed, 06 Mar 2013 16:10:56 +0000

As a result of the advanced technology, most insurance companies communicate with their policyholders online. It is now possible to add/delete coverage or file a claim online by visiting the insurance company’s website and choosing the appropriate selection. There are times, however, when the online selections won’t truly address the insurance matter at hand. When [...]