July, 2016

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Why Marketing Matters for Insurance Agencies

insurance agency marketing

Insurance is a great industry that allows many businesses to generate large profits. If you have an insurance agency, then you probably understand that good income does not come overnight. It takes time and effort, and it is usually worth the hard work. One tool that helps many agencies succeed is insurance agency marketing.

Find Better Leads

When you implement marketing initiatives, your sales efforts are more efficient. Instead of simply opening the phone book and calling people at random, you can target potential customers. You can focus on people by age, preference, location, demographics, and more. This will help you attract better leads that are more likely to convert to sales.

Attract Good Customers

In the world of insurance, it is important to find good customers that will stay around. This will enable you to generate larger profits. Through targeted marketing efforts, you can find these preferred customers. You can also use content marketing to solidify your company as an authority in the insurance industry, so you can attract and retain a quality customer base.

Obviously word of mouth is beneficial for insurance sales. However, if you are looking to create a large business, then insurance agency marketing will make a huge difference. It can help you expand and find the success you are seeking.

3 Reasons to Have Allied Healthcare Liability Insurance

allied healthcare liability insurance

Over half the people in the healthcare workforce fall into the category of allied health professionals. These workers can be required to deal with patient care on a daily basis. For all those with careers that fall into this category, there are several reasons why it is important to have allied healthcare liability insurance.

1. Coverage Against Malpractice Suits

While most allied healthcare professionals work for doctors or hospitals that carry liability against medical malpractice lawsuits, there are certain areas in which you may still be held personally liable. It can be crucial to protect your personal assets against such cases.

2. Compensate for Shifts in Medical Care

Changes to how medical care is handled have put more responsibilities on those in the field of allied healthcare. With these added responsibilities also comes increased risk and vulnerability. Liability insurance can help you safeguard against these threats.

3. Increase Control Over Your Career

If you are named responsible in a malpractice case and do not have the proper coverage, it could mean the loss of your job or a setback in your career. Liability insurance can put you in charge of your career and your future.

As an allied healthcare professional, you should be able to focus on providing the best care possible for your patients without having to worry about your safety. Having allied healthcare liability insurance can give you the peace of mind you need to do your job with excellence.

Premier Personal and Business Insurance Products in Virginia

Goodrich & Watson

You can rely on the experts at Goodrich & Watson when you need insurance coverage for your home or business. As the premier insurance provider in Virginia, we are dedicated to helping you protect your family and mitigate business risks.

Personal and Business Insurance Products

Our industry expertise enables us to partner with top-rated insurance companies to provide comprehensive insurance solutions. Some of the insurance products our agents at Goodrich & Watson offer include:

  • Personal. Our personal insurance products range from auto insurance to high value homeowners insurance to protect your family and valuables against unforeseen losses and accidents.
  • Business. Our business insurance programs offer competitive pricing and customized features to meet your needs, including crime and fidelity insurance, cyber liability, and much more.
  • Specialty. We review your current insurance coverage to ensure it appropriately protects your unique exposures and can tailor programs that cater to a variety of industry niches.

Our professionals will work with you to provide affordable options for your business or personal insurance needs.

Serving Your Individual Needs

As a trusted, independent insurance agent, we offer a complete portfolio of insurance products. The wide range of business and personal insurance coverage through Goodrich & Watson means we can obtain a competitively priced solution that is ideal for you.

Small Businesses Need to Get Cyber Liability Coverage

Cyber Liability Insurance

Cyber liability coverage is something every business needs to have. Every company is at risk of having a data breach or loss, and when it happens, numerous costs need to be handled. Even larger companies are not immune, and you have likely seen a news story of when a notable company experiences a breach. Small businesses are not immune, so make sure you get insurance.

A Majority of Data Breaches Happen to Small Businesses

Data breaches to nationally-known companies make the news, but a vast majority of these cases, including credit card breaches, occur to small businesses. These companies generally do not have as tough security measures as more reputable companies and are seen as easier targets to hackers.

Insurance Can Help With Civil Litigation

Unlike multi-million dollar companies, your small business may not have the resources to recover from a data breach. Customers may take you to court to receive compensation for allowing credit card theft to occur. Paying out of pocket can ruin a business, but with a comprehensive insurance policy, you can receive assistance to help you get through this time.

It is better to be safe than sorry, so get cyber liability coverage as soon as you open up your small business. Having access to peoples credit card information, health records or bank account numbers makes you a target, so get the coverage you need.

Why You Should Consider Insuring Your Horse

equine mortality insurance Tennessee

Nothing quite says Tennessee like owning your own horse. In many households, horses are practically a part of the family. For others these magnificent animals will provide a ride on the road of ambition, winning shows or races. Whichever side of the proverbial fence you may be on, owning a horse is an investment, often a rather expensive one. You never truly know when something may happen, which is why its also important to consider equine mortality insurance in Tennessee.

Whats Included?

Coverage varies by company, but many plans provide for instances such as the following:

  • Surgery
  • Expenses for sickness or accidents
  • Colic-related care
  • Joint and muscle treatments to improve performance

It will also be necessary to ensure the plan you choose covers your horse as you intend to use it. Some include only horses meant to be ridden for pleasure and personal use, while others allow usage to extend to racing, hunting, and show horses.

Be sure to review the age limit for inclusion; an older horse may not qualify for renewal on certain plans. Also, check the maximum coverage available and ensure it fits the needs of your animal.

Peace of Mind

No one likes to dwell on the injury or illness of an animal. Equine mortality insurance in Tennessee allows you to make the tough decisions now so all you will need to focus on if tragedy strikes is your horse and not the dollar signs.

 

Employment Agency Insurance and Issues of Discrimination

employment agency insurance

Because of their arrangement with the people they enlist for other agencies, there are plenty of legal issues that could surface for a staffing firm. This is certainly a concern that should be addressed before an unpleasant situation arises. With all of the various state and federal laws that govern employment relationships, staffing firms face an endless number of legal pitfalls and therefore need to secure employment agency insurance to protect the company, its clients and its workers.

Staffing firms are in a very unique position. They provide sound solutions for client companies seeking to manage their own legal risks associated with their employees, but in certain situations, where there is the potential for workplace discrimination or harassment suits, staffing firms and their clients have exposures significantly different from a standard business operation. These issues are due in part to the enormous amount of turnover, and the constantly changing landscape.

 

Employment practices lawsuits aren’t that uncommon

Discrimination complaints filed with the Equal Employment Opportunity Commission (EEOC) can lead to expensive litigation or costly settlements for a staffing firm. Because of this fact, more attention is now being focused on employer practices related to background checks. Businesses can face individual or class litigation suits if background checks and hiring tests result in screening out protected classes, such as minorities, at a higher rate than other groups. The EEOC has renewed its emphasis on enforcing actions from complaints in this area, and individuals continue to bring about claims based on background check screening.

These agencies often enlist recruitment offices to help supply them with job candidates, and being a business, they run the risk of sending applicants to clients who may not actually be a perfect fit for the position. Naturally, this is done in order for them to get paid and move on to their next client.

Among the many complaints made by applicants are that they may feel like they’re being pushed into positions they aren’t qualified for and companies that aren’t necessarily a good match for them,simply because the recruitment office hired by the temp agency wants to earn credits for placing these individuals quickly. There is an awful lot of risk involved in recruiting employees for different companies, and maintaining employment agency insurance is one way to mitigate many of these risks.

New Jersey Contractors Insurance Is Vital to the Industry

new jersey contractors insurance

As a contractor operating in the Garden State you must be aware that no construction jobs for businesses and residential properties are done without some type of new jersey contractors insurance policy. Banks, as well as other lenders, simply will not make loans for a construction project unless the proper type of insurance is in place to protect their own interest, as well as others involved in these processes.

Contractors insurance is required on every single project and, in many instances its a requirement to have some sort of specific coverage in order to be awarded a job. Construction insurance provides coverage for materials, natural disasters, other inherent risks, and employees along with the business itself. However, the insurance industry, along with the construction industry, is always looking to provide the latest coverage on each and every unique situation.

A policy that fully protects your interests

You have to realize that you have a lot at stake, including your equipment and tools, while undertaking any construction job, due in part to the additional risk involved in working in open, and often hazardous, construction sites. The many exposures you’re likely to face can also vary from one site to the next, and during all phases of the construction process. These are issues and concerns that are best alleviated by purchasing a builders risk policy.

As in other property policies, there are choices you’ll need to make as to any available coverage options before construction is approved or commences. Clearly the construction lenders, as well as the developer and builder, plan to do a lot of due diligence regarding the builders risk policy’s terms and conditions.

Another area of insurance coverage for buildings under construction or renovation that need consideration has to do with any costs associated with a loss that ends up delaying construction, or possibly increases costs, due to a covered loss under the builders risk policy. An example of this would be soft cost or delay in opening, which can be substantial, but coverage must be added to a builders risk form in order to be covered.

Any questions that you have about the unwritten limitations in an all risk policy also need to be discussed and understood. Speak to a qualified agent who can address your questions and concerns about all new jersey contractors insurance products.

Bailee Insurance Coverage Provides Value to Many Industries

bailee insurance coverage

When you take charge of storing or handling goods without issuing a document that defines your bailee liability, you have set yourself up for a potential exposure to full value liability for any cargo loss or damage. Since this liability is not limited, bailee insurance coverage is required. The policy responds to any physical loss or damage of property while in your care, custody or control, without regard of negligence.

Bailee coverage is important to have when an item is lost or damaged and the bailee needs to make reparations. For example, if a customer entrusts a product, or several, to you and those items end up lost or damaged during transit, in whole or in part, the policy will pay for any losses.

 

Bailee Insurance coverage is a major plus

When purchasing a Bailee insurance policy, be sure to work with a professional that specializes in this type of coverage. Its important to note that not all policies provide the same coverage. For example, defense costs must be taken into account since this is often a substantial expense incurred by a bailee when presented with a claim for loss or damage.

This can quite easily exceed the monetary amount of damages awarded. Speak to an advisor familiar with this policy, someone willing to review your policy and determine whether defense costs are included as part of your coverage and up to what amounts.

Also, as a bailee you may be responsible for issues such as debris removal, which is essentially the cost to have damaged property contained and removed from the premises and properly disposed of. Your agent should review this with you to determine what you currently have and what may be needed to be included in your insurance program.

 

Liability of bailees

When a bailment involves the transfer of property where no compensation is involved, its referred to as a gratuitous bailment. If, for example, you’re temporarily storing property belonging to your customers in a neighboring store or warehouse and the bailment is to the mutual benefit of both parties, the bailee is referred to as a bailee for hire, which is considered a commercial bailment agreement.

The degree of care required in a commercial bailment requires the bailee to use only the degree of care that an ordinarily prudent person would use in handling his or her own property. For this reason, bailee insurance coverage is the best solution when you are entrusted with the care of items belonging to others.