November, 2017

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What is a Commercial Package Policy?

Paramus Commercial Liability Insurance

If you own a mid-sized business, your company may be eligible for a Commercial Package Policy from Paramus Commercial Liability Insurance. This bundle of insurance policies can save you money while keeping your business fully insured. Before you jump in and switch to a CPP, be sure to understand whats included and if it will benefit your business.

What Coverages are Included?

The exact policies that are bundled in a CPP depend on your business needs and industry. However, you can generally expect this Paramus Commercial Liability Insurance package to include general liability coverage and property insurance.

Furthermore, you can add commercial auto insurance, marine coverage, or a business income policy. If you may be liable for fiduciary or professional responsibilities, you can include coverage for that as well.

Why Choose a CPP?

The chances are that your business needs each of these coverages. After all, they can save you from financial trouble if something goes wrong. However, purchasing them separately can be expensive. Bundling with a CPP is a cost-effective way to get the insurance you need.

Furthermore, when you choose a CPP, you cut down on the hassle. As a business owner, you dont have time for things that are needlessly complicated. This insurance bundle keeps your to-do list short and helps you keep everything in order.

Reduce E&O with Organizational Best Practices

errors and omission policy

If you run a professional services firm, you may be busy managing the risks of your clients. This focus can help grow the business and increase customer satisfaction, but if you haven’t considered an errors and omission policy for yourself, the effort could backfire. There are several steps regarding the organizational structure that can be taken to reduce risk and streamline processes at the same time.

The more people involved in a transaction, the higher the risk of errors and omissions. If there are different procedures based on the size of the transactions, there could be inconsistencies that result in mistakes. The management team can enact best practices by:

  • Ensure the organizational chart is current
  • Confirm the accuracy of each employees job description including position qualifications and expectations.
  • Determine if the organizational structure is horizontal or vertical and if it is the best approach.
  • Organize workflow based on who is best qualified for the required tasks.

Its crucial that adequate time and energy be devoted to mitigating your agency’s risk. An errors and omission policy can help you prioritize concerns and choose limits appropriate to the profession and the region in which you operate. Enacting best practices in the organizational structure can streamline procedures and ensure employees receive sufficient training, reducing opportunities for mistakes.

Why Member-Owned Insurance Agencies are Better

fraternal life insurance

Turn on the television for five minutes, and you’re bound to see a commercial for insurance. Each company vows to save money over the other, but each claim is shrouded in misleading details. If you want a different type of insurance provider, consider a fraternal life insurance company.

How It Works

A fraternal insurance company is to a typical insurance provider what a credit union is to a bank. While banks and insurance companies must put profits first, fraternal insurance organizations and credit unions are owned by their members.

When you buy life insurance from a fraternal organization, you also become a part-owner of the group. These non-profits are then beholden to you not some stuffed suit.

Your Needs First

Since there are no shareholders to please, fraternal life insurance organizations can put your needs first. That means that the policies are fair and the customer service is better than at their for-profit counterparts.

Save Money

Without profits to consider, these charitable organizations can significantly reduce costs. Instead of passing those savings to a CEO, they go to you. After all, you are not only a customer but also an owner. The savings are significant, no matter which type of policy you choose.

You deserve more from your insurance provider. Call a member-owned agency today.

Investing in Your Familys Future

Single premium life insurance

Single premium life insurance refers to a policy in which a lump sum of money is paid into the policy in exchange for a guaranteed death benefit that will remain paid-up until the death of the named insured. The main benefit of life insurance is to leverage funds to create an estate that can provide for surviving family members or to be left to some charitable cause.

There are different versions of this type of policy available that can offer a wide range of investment options and withdrawal provisions. With a single premium life (SPL) insurance policy, the cash invested builds up quickly because the policy is fully funded. The size of the death benefit is determined by the amount that has been invested and the age and health of the insured individual.

Investment Options

Two popular single-premium policies currently being marketed offer slightly different investment options. The first is single-premium whole life coverage that pays a fixed interest rate based on the insurance company’s investment experience and current economic conditions. The other one is called single-premium variable life and it allows policy owners to select from a menu of professionally managed stock, bond and money market sub-accounts, as well as a fixed account.

The choice you make could very well depend on your ability to deal with market changes, the makeup of any other assets in your portfolio, and how you intend to use the policy’s cash value. With a fixed interest rate, you can depend on the stability of the constant growth rate in your policy, but you will also miss out on potential gains if the financial markets wind up having a good run. The minimum death benefit is established when you purchase the policy, but if the policy’s account value grows beyond a certain amount then the death benefit will usually go up as well.

If you want to have guaranteed insurance protection for your family, or as a means to begin a child’s life insurance program, or perhaps you want to leave something to your favorite charity, single premium life insurance may be the ideal product for you.


Comprehensive Coverage to Protect Yours and Your Members Investments

California marina insurance

If you own a marina in California, California marina insurance is a must. Just like out on the road, boating accidents can happen at any time even in the safety of the harbor. Heavy winds might cause significant damage to your member’s vessels, a careless boater may accidentally run into docked yacht or sailing student might accidentally capsize one of your boats out at sea. Unfortunately, when accidents do happen, you could be held liable. The right insurance policy can protect you, your employees, your visitors, and your members in the event that something unexpected happens that results in damaged property or personal injury.

Not all marine boat insurance companies are created equal. Some agencies only cater to smaller, privately owned vessels, while others cater strictly to yacht owners. As the owner of a marina, you have many more exposures to think about than the average boat owner. You need to think about your members, the public, sailing students and event guests. You also need to consider yourself and your employees. The right California marina insurance policy will cover all the necessary parties for the necessary exposures. Whether bad weather wants to wreak havoc on your docks or a sailing student gets a little over-zealous with the sails, a sound policy can ensure that you’re not held financially liable for things that go wrong.

Life Insurance Tips for New Parents

insurance companies in Hartford CT

Parenting is an exciting new experience. Priorities change quickly when a little one arrives. Life insurance is critical for parents. It provides an important safety net in case of an unfortunate accident.


Even if you already have a life insurance policy, many things change with the addition of a child. Here are some things to consider as a new parent. Before making any drastic decisions, seek out local insurance companies in Hartford CT for advice and guidance.

Permanent vs. term There are two main categories of life insurance: permanent and term. Term life insurance offers coverage over a set time period. Permanent life insurance offers lifelong coverage. Consider purchasing a permanent policy and add term policies for during the kids dependent years.

Education It is never too soon to think about your child’s education. It is wise to factor in education when considering your life insurance policy.

Beneficiary Don’t designate a minor as the beneficiary of your policy. Instead, form a trust or designate an adult to oversee the distribution of money. Otherwise, the minor beneficiary may be limited as to the amount of the proceeds they can receive until the court can appoint a guardian to administer the funds.

Children bring a lot of joy to a family. As your priorities begin to shift, make sure you take the time to ensure the added protection of a well-devised life insurance plan. There are many reputable insurance companies in Hartford Ct.

Specialized Products for High Net Worth Clients

High net worth insurance brokers

If your agency doesnt have the resources to cover high net worth clients, find the products you need from a wholesale insurer. High net worth insurance brokers can offer products that expand your liability limits and provide special coverage for high-value clients. From luxury home repair to high living expenses, you can offer your clients better coverage and flexible policies. Each product is backed by a network of top-tier carriers that have the financial resources to that meet your clients needs.

Wholesale insurance products include high-value asset protection, extended home repair or replacement coverage, cash settlement, equipment damages, sewage problems and high-limit jewelry coverage. Additionally, high net worth insurance brokers can assist with risk assessment, loss mitigation, and long-term scheduling plans. When your clients need more out of their insurance policy, get the resources to meet their demands.

Finally, working with a wholesale insurer, you can expand your umbrella policy to provide adequate coverage for a high-value homeowner to match their underlying liabilities. Your limited financial resources shouldnt prevent you from protecting high net worth policyholders. Take the steps your agency needs to grow and work with a wholesale broker today. For a more extensive, specialized product line and higher coverage limits, partner with a wholesaler today.