August, 2015

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Researching Available Nightclub Insurance Programs

Researching Available Nightclub Insurance Programs

When choosing an insurance broker, it is imperative that you partner with an agency that knows the specific types of coverage that you will probably need. There are many nightclub insurance programs available on the market, but you need to find a comprehensive and detailed agency will provide you the best possible products, as well as services that will address those complex risk management and insurance related issues.

Whether you own a small, local pub or one of those swanky nightspots with velvet ropes and bodybuilders for doormen, you need someone that understands the hazards of owning and operating a bar or nightclub and will seek to provide you with insurance policies for everything from property and public liability insurance, to health, workers comp, theft and disaster coverage, regardless of the size, or scope of the business.

Liquor liability tops the list for most restaurant and bar owners

Liquor liability insurance, in addition to regular bar liability insurance, is something that you also need to include in your nightclub insurance package. Liquor liability insurance is an absolute must, because it is the kind of insurance for bars and nightclubs which protects them from any problems that may arise from the use of alcohol, including what may happen to customers long after they leave your establishment.

Another major concern might arise from renting out your club or bar to outside individuals. For example, if you were ever to allow groups to rent out your nightclub for special events, you’ll need to talk to your insurance agent about purchasing event liability insurance.

Event liability insurance is a one-time policy that covers a specific group and a specific date and time. Then, if your club is damaged or destroyed during their event, your events liability insurance policy will likely cover the damage.

Of course, purchasing policies through nightclub insurance programs is an added cost of doing business, and insurance will definitely add extra expenditures to the operation of your bar or nightclub. Just remember that this is a necessity for any establishment that wants to last in this type of competitive business venture. An uninsured business is just one unfortunate event away from disaster and not likely to survive a lawsuit or large settlement without proper coverage.

Workers Comp and Machine Dealers Insurance

Workers Comp and Machine Dealers Insurance

Machine dealers provide products for many different businesses. Just think about it for a moment – how many different types of companies use some type of machine in their daily operations? Obviously laundromats and offices that use business machines such as copiers, printers and vending machines rely heavily on machine dealers. Add to the list restaurants, car dealers, and well, far too many businesses to name here.

Machine Dealer Insurance provides protection, in the form of a workers comp policy, from many risks and exposures that these proprietors face, and none is more prevalent than injuries to workers that must load this heavy equipment on and off of trucks as they make their rounds to their many destinations.

The liabilities to workers associated with machine dealers

Many of the work related injuries and illnesses experienced by workers in the coin-operated machine industry are musculoskeletal disorders (MSDs), such as back injuries and sprains or strains that may develop from various factors, including lifting, repetitive motion disorders such as carpal tunnel syndrome, or injuries resulting from overexertion.

Most companies that require workers to lift or move heavy equipment provide the necessary tools to complete the job in as safe a manner as possible. This includes machines that aid in lifting heavy items onto truck beds, and back braces to minimize the strain on a worker’s back. Still, over time, workers may begin to experience an enormous amount of strain due to the amount of lifting and moving required by the job over any length of time.

A serious back injury due to overexertion could result in exorbitant medical bills, loss of wages due to the inability to return to work for weeks, or even months, and a reduction in the workforce that could ultimately affect the company’s profits. An injured worker can also create a ripple effect where others begin having concerns for their own health and well being.

No employer wants to see anyone experience any type of severe injury during the commission of their duties. Many implement safety programs geared at creating safer working conditions and always implore workers to get as much assistance as possible when handling heavy equipment. Machine Dealer Insurance is the only true safeguard when an employee is hurt during the course of performing their duties while on the job.

Miami Insurance and Cyber Theft Concerns

Miami Insurance and Cyber Theft Concerns

As recent news stories would suggest, cyber theft and cyber liability are a growing issue that isn’t likely to go away any time soon. Unfortunately, data breaches can happen to businesses of any size. You do not need to be Sony, Target or Home Depot to have your information stolen and used maliciously.

The costs of a cyber intrusion can quickly add up, with the need to potentially hire a lawyer, a public relations firm to help try to restore your reputation, even a forensics team to find and stop the data breach along with the cost to notify those affected. These are all valid reasons why you need Miami insurance for any and all cyber concerns.

Any business that conducts operations with computers is at great risk of dealing with a data breach. Every year businesses, both large and small, experience increases in data breaches and/or incidences of computer hacking. And yet, many small businesses still believe that data breaches are unlikely, even though small businesses are increasingly becoming targets of hackers and cyber thieves.

What constitutes a data breach or cyber theft?

A data breach is when your company’s sensitive, confidential, digital information is lost or stolen by an unauthorized party. Any time that an unauthorized party is able to access customer, employee, or trade records and information, this can result in catastrophic results for your company. However there are a few simple procedures that can assist in curbing your chances of experiencing a cyber-security breach.

Anyone who owns a business should use password protection and data encryption, as well as restrict employee access to sensitive information. Also, use firewalls to control access and lock out hackers and ensure that remote access to your company’s network is secure.

By implementing these basic security procedures your chances of dealing with a data breach can be significantly lowered. Backing your business up with a cyber liability policy is also not a bad idea. Typically, a Miami insurance cyber liability policy covers copyright & trademark infringement, unauthorized access, introduction of a virus, and any activities involving your business’ use of the Internet. Data breaches are serious business and should always be treated as one.

The Value of Securing New York Surety Bonds

The Value of Securing New York Surety Bonds

The city of New York is currently undergoing a restoration. The work of these proud men and women will surely affect many businesses in a positive way. New York Surety Bonds, as every reputable agency knows, are an indispensable component of each and every construction job. Contractors must obtain the necessary performance and payment bonds before they will be allowed to begin a job.

Without a surety bond in place, an obligee runs the risk of not receiving adequate compensation in case the contractor (aka the principal) defaults, or fails to perform according to the contract. There are times when the involved parties don’t completely understand the way the surety claims process works. There are many things that both parties can do to prevent these claims from occurring in the first place.

Understanding how surety bonds for contractors work

The two main types of surety bonds that are relevant for contractors are performance bonds and payment bonds. These types of bonds function as agreements between three parties: the surety, the obligee (the government or the “client”) and the principal. The bond is in place to guarantee that, if the principal should in any way harm the obligee and his interests, the obligee will receive fair compensation from the surety. This will occur after filing a claim and mutually agreeing with the surety on the scope of the claim.

The different functions of performance and payment bonds

Performance bonds are bonds wherein the parties involved are a surety, a contractor and the obligee who has hired the contractor to perform construction work. These bonds concern a contractor’s performance and guarantee obligees’ interests in case that the contractor should default. Performance bond claims can also be filed against subcontractors that fail to fulfill their commitment to a project as well.

Payment bonds concern the interests of subcontractors, material suppliers and laborers working on a construction project. This particular bond guarantees that those parties (the obligees) will receive their payment, as per bonded contract, and also if the contractor should fail to pay them in full for their services or does not pay them in a timely manner.

When a surety issues a bond to a contractor, this is in some way a guarantee that the contractor is reliable, since sureties perform extensive checks to insure the integrity of the contractor before they issue New York Surety Bonds. Remind your clients that these bonds in themselves are no guarantee that unfavorable issues will not arise between principals and obligees.

Providing Home Insurance for Manufactured Properties

Providing Home Insurance for Manufactured Properties

Home insurance for manufactured homes, as most brokers fully understand, works in much the same way as a standard homeowners policy. Mobile homes and other manufactured properties are part of an underserved market that is in need of representation for the hundreds of thousands of people living in areas where insurance coverage of this type is often sparse.

Three types of coverage are included in most standard policies, including general property coverage that insures the dwelling against damages, other than flood, and is based on the value of the structure itself, and not the land. Personal property protection covers most losses involving damage to personal belongings. Finally, liability coverage protects you and family members in the event someone is injured while on your property.

Make sure the policy provides the needed coverage

It would probably be wise to invest in a policy that includes a “loss of use” section that reimburses the homeowner for expenses incurred if the dwelling becomes uninhabitable. Costs for hotel stays, food, clothing, and boarding of pets are often included in this coverage. Some policies will also pay a negotiated amount for the costs associated with moving the manufactured home when required by the insuring company due to a loss, referred to as an emergency removal section, available in many areas.

Naturally, policy needs will vary from one situation to the next, and what is covered (or not covered) does have an impact on premiums. For example, if the dwelling is in area that is considered to have a high crime rate, in an area that floods frequently, or is frequently threatened by tornadoes or hurricanes, your clients can expect premiums to be higher based on those conditions.

While these are uncontrollable factors, here’s an insurance tip for owners of manufactured homes that can help offset or at least mitigate those factors somewhat. By properly insulating the structure one can help to reduce the possibility of pipes freezing and bursting and causing water damage. It also lowers the costs associated with heating and cooling, thereby freeing up additional funds that can help to pay the premiums.

As with conventional homeowners insurance, home insurance for manufactured homes can have premiums that are also affected by other factors, such as the breed of dog your client has, owning a hot tub or trampoline, or installing decks and patios. Be sure to go over the policy with your clients carefully so they understand any exclusions and limitations, and can better determine if the policy meets their current needs.