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2003 NW Northdale Blvd - Coon Rapids, MN 55433
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Wednesday, June 21, 2017 8:12 pm

Insurable Risks Derived From Growing Businesses

Recently, small business owners were surveyed to help identify some of the top risks they faced when   growing their businesses.  Many small business owners are unaware of the new, and increased, risks that come with growth.  For example, many business owners erroneously think that a claim is not covered, so they fail to file the claim.  A leading commercial insurer has identified the top five most costly business insurance claims. Leading losses for small businesses and the average claim cost

· Reputational harm: $50,000

· Vehicle accident: $45,000

· Fire damage: $35,000

New and growing risks faced by expanding businesses

As your business grows, your risks change.  It is beneficial for business owners to have an understanding of how risks change because of growth.

· Contract disputes increase. Growing businesses often develop relationships without written            agreements, resulting in disputes.

· Increased employee litigation. When businesses hire new people, often they overlook proper hiring practices.  This often leads to litigation.  Make sure your business has an employment practices liability policy.

· Increase in worker injuries.  A greater workload leads to increased hours and the possibility of            employee injury.  Your workers’ compensation policy will cover work related injuries.

· Building damage. Often, growing businesses fail to pay attention to building maintenance, which can lead to all kinds of damage.  Read your property policy to make sure you do not void your coverage through lack of attention to safety issues.


Source for article: PC360.com


Tuesday, June 20, 2017 8:15 pm

BBQ Safety

Wednesday, June 14, 2017 8:13 pm

Bizarre things people believed 50 years ago

Monday, June 5, 2017 10:14 pm

Are you covered for this?

Monday, June 5, 2017 10:11 pm

Does Home Technology Really Work?

Can you believe all the new innovations that are available for your home? Many new technologies can help you in the kitchen, help keep your home cooler in summer, and some even reduce your homeowner’s insurance premiums. Here is a recent quote from an insurance company, “If somebody has some sort of temperature-monitoring system in their house, we give them a discount for that.”

Here are a few technologies that will help keep your home safe, and will also lower insurance costs.

Security systems -- It seems like everywhere you go, there's a camera capturing images. If you own a smartphone or tablet, you probably have a camera that's built into the device. You can not only secure your home, but actually see what is going on through videos.

Electronic locks -- Nowadays you don’t even need a key to get into your home! These electronic locks can add additional security to your home.

Connected appliances -- Appliances that you can turn off and on from your smart phone not only help with your lifestyle, but also keep your home safe.

Leak detection systems -- Smart homes can be controlled from your phone, and when connected to your home's water and electrical system, can provide you with real-time updates on how these systems are performing. If you are using more water than normal, you will be notified that there is likely a leak present.

Timed lighting -- Having outside and inside lights come on during the evening while you are away deters burglars.

Smoke and fire detectors -- Having good detection systems keeps your family safe and insurers provide discounts for these.

Home weather warning systems -- There are weather warning programs that can detect high winds and identify severe weather earlier than ever.