Straight From The Source Blog by Higginbotham Insurance

It’s no secret that commercial auto rates are on the rise. Commercial auto insurers have been reporting poor results since at least 2016, and the trend shows no signs of slowing. Fleet managers are left wondering why their rates are increasing – and what they can do to keep the trend from hurting their bottom line.

Do you operate a home-based business? Thinking about starting one? You’re in good company. According to statistics from the Small Business Administration (SBA), roughly 50 percent of small businesses are home-based businesses. And this sector just keeps growing.

Think your business doesn’t have directors and officers (D&O) liability exposure? Think again. When it comes to possible D&O claims, many businesses are left in the dark.

As the old saying goes, prevention is the best medicine. When it comes to reducing the cost of workers’ compensation insurance claims, this holds true. Preventing workplace injuries and illnesses is clearly the best method. Even with the best training, equipment and policies, however, the occasional incident may still occur. When this happens, an early return-to-work program can benefit both the employer and the employee.

Americans have a reputation for being litigious. Some lawsuits may be frivolous, others may be justified, but all have the potential to be time-consuming and expensive. Professionals who offer their services to the public are especially prone to becoming the target of a lawsuit. This is an unescapable risk, but one that can be mitigated with Errors and Omissions insurance.

If you’re like most employers, workers’ compensation insurance is still one of your biggest and costliest headaches. And the only way to control workers’ compensation costs is by aggressively attacking them at every opportunity. “The best defense is a good offense,” as the saying goes.

Strengths. Weaknesses. Opportunities. Threats. As you plan for 2018, you may be conducting a formal or informal SWOT analysis for your business. When you get to the “Threat” category, make sure to add cyber risk to your list.

With so many insurance products available, figuring out which ones we need can seem daunting. No one wants to waste money on a superfluous policy. At the same time, no one wants to go without an essential policy – then pay the price for it later. One policy you may be wondering about is professional liability insurance.