What does my business insurance cover when it comes to the Coronavirus? Coronavirus is causing widespread disruption in the daily lives of people across the globe, and many business owners are looking to their insurance policies to see if there is any potential reimbursement for losses that may occur due to the virus. We produced … Read More
Business Insurance in New York isn’t always easy. And today it’s becoming more challenging. Rates are increasing for some classes of business. Underwriting rules are becoming more stringent, and more changes seem to be coming. Having been through several market changes, I can tell that this is the beginning of a hard market. A … Read More
When an organization has an ERISA based benefit plan, such as a 401K it must have an ERISA Bond. This coverage is needed to protect a portion of the retirement plan’s assets. In this post, we describe what an ERISA Bond is and how it integrates with other important coverages relative to retirement plans. An … Read More
Hired and non-owned auto is a common endorsement to either the commercial auto policy or the general liability / BOP policy for a business. It’s generally an inexpensive option to add to either policy and is a very needed coverage, yet many agents and brokers forget to add it to a client’s coverage program. Here’s … Read More
I’ve asked prospects who have become dissatisfied with their insurance broker relationships: “Is it possible that you’ve just outgrown your insurance broker?” The context of that question really means – does your insurance broker lack the technical expertise, resources, and staffing to properly handle your business. Often the answer is “yes” and the client is … Read More
In this video, I describe what The Coyle Group does for mid-market firms, and how we’ve differentiated our approach to business insurance. When we talk about mid-market firms that we target, we’re speaking about companies with revenues roughly in the $10M to $250M range. These firms are in our sweet spot for a few reasons. … Read More
Product Recall Insurance is a special form of insurance, typically purchased by manufacturers and distributors to safeguard against the costs associated with withdrawing a defective, dangerous, or contaminated product from the marketplace. Coverage is underwritten by a handful of insurers who often provide specialized risk control and consulting services as part of their coverage offering. … Read More
Last month we had referrals into two “good sized” companies to discuss their insurance programs, and the similarities shared between those accounts makes for a good discussion on the importance of a Diagnostic Insurance Review or second opinion. (“Good sized” means both had 25 or more employees and over $10M in annual sales.) The Diagnostic … Read More
When you think of “being sold” I’m sure that the proverbial used car salesperson pops into your head, or maybe the ever persistent insurance sales person, right? Insurance sales has a bad rap. Comedians even make fun of insurance salespeople. Woody Allen once said: “That there are worse things in life than death. Have you … Read More
I recently presented our Diagnostic Insurance Coverage Review (Step three of our Unique Risk Strategy) to a prospective client, and something they said is still ringing in my ears. We found that the current agent had covered the client’s business personal property in their warehouse on their Ocean Cargo policy, which isn’t uncommon. But what … Read More
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