Our Goal Is To Help You

Confused Way Of A BusinessmanA Business Insurance Update

There are many ways to select a business insurance agent. Some businesses may use the bidding method, where they call many agents and have them “bid” their business insurance. The problem with this is you really don’t know if you are getting equal products. It is almost impossible to compare products “apple to apple.”  The low bid may have limited, or no, coverage in areas in which your business needs coverage.  The best way to select insurance is to find a qualified and experienced agent who knows and understands your industry.  Then, allow that agency to go into the market on your behalf to find you the best possible price and coverage.

How to select an agent?

A qualified agent should help you identify your risks and help you understand what you should insure.  Then the agent should design a coverage plan, and go to the market to negotiate the best possible combination of business coverage, pricing, and service.  Here are a few questions for you to consider using when selecting your agent.

  • “If I had a claim, how would you help me?”
  • “How many years of experience do you have? And your staff?”
  • “When I call the agency with a question, who would I be speaking with?”
  • “May I have three references?”
  • “What ratings do the insurers have that you might use?”
  • “What systems do you have to help manage your business?”
  • “How do you define customer service?”
  • “What is your policy for returning phone calls?”
  • “How long do you usually keep a client?”
  • “What makes you skilled at what you do?”
  • “Do you have any industry awards?”
  • “Will I have to ask for my renewal to be processed?”

North Bay Insurance Brokers provides industry-specific insurance to businesses in Sonoma, Napa, Marin, Santa Rosa, Petaluma, American Canyon, and surrounding areas.

Every industry has specific needs when it comes to insurance. Industry-specific risks make it impossible for insurance companies to lump together one insurance plan for every business. At North Bay Insurance Brokers, we understand that being unique is what makes your business successful across the board. That’s why we provide industry-specific insurance options for businesses of all types.

 

 

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“There is Gold in Them There Policies”

person-110303_640A North Bay Business Insurance Update

Every business needs business insurance.  But business insurance policies are all different. That is why it is always better to use an independent agent who knows and understand your business and industry. The insurance needs for a restaurant are much different than the insurance needs of a manufacturer, and the coverage should reflect that.

If you own or operate a business, you may want to consider these coverages as part of your business insurance package. Our keys to coverage will assume some of the obvious coverage such as property and liability.  We also want to identify some business insurance coverage you may not have considered.

  • Sprinkler leakage insurance–If your sprinkler system leaks and causes a loss to equipment or documents, do you have coverage?
  • Business income insurance–After a covered loss, you may have a period of recovery time when you are closed. Without business income insurance your business may run out of funds.
  • Umbrella Insurance–An umbrella policy provides extra insurance protection over your commercial general and auto liability policies. It is not uncommon for a business to be sued for over $1,000,000.
  • Cyber liability–Cyber breaches are the fastest growing causes for loss for most businesses. Every business needs the protection provided by cyber insurance.
  • Employee dishonesty–This policy protects employers from workplace theft and fraud.

North Bay Insurance Brokers, Inc. provides insurance to businesses in Sonoma, Napa, Marin, Santa Rosa, Petaluma, American Canyon, and surrounding areas. No matter what business you’re in, each workday is dedicated to doing your job well and providing your customers with the best service possible. North Bay Insurance Brokers, Inc. would like to return the favor by giving you the coverage you need to ensure the security of your business.

At North Bay Insurance Brokers, Inc., we’re committed to keeping your business protected – so you can focus on your day-to-day operations. And with the right insurance plan, your business will be covered from top to bottom.

 

Fake News, Not At North Bay Insurance Brokers

fake-news-2127597_640A business insurance update

Fake news has been around for some time.  We have all been fooled by headlines and news reports that turn out to be fake. Fake news is defined as a completely made up story designed to manipulate the readers and to attract attention and advertising revenue.

William Atak, CEO of SafeOnNet, an insurer specializing in online reputational risk, said the potential for reputational harm increased significantly in recent years. Along with it, the potential for millions in lost profits.  “Fake news has always existed.  Only now, the perpetrators have the tools and knowledge to create stories at just the right moment and exploit social media and its algorithms,” he said.

Can fake news hurt your business?

Fake news has the potential to harm your businesses reputation, and even cause you to shut down.  Here is a link to an article about how fake news affects business.  Link to article

Reputation insurance

There is a solution to this growing issue, and that is reputation insurance.  There is no question that a great deal of your firms’ value is derived directly from your reputation.  This kind of insurance reimburses the company for the cost of crisis management expert fees up to a set amount, usually between $50,000 and $200,000.

North Bay Insurance Brokers provides industry-specific insurance to businesses in Sonoma, Napa, Marin, Santa Rosa, Petaluma, American Canyon, and surrounding areas.

Every industry has specific needs when it comes to insurance. Industry-specific risks make it impossible for insurance companies to lump together one insurance plan for every business. At North Bay Insurance Brokers, we understand that being unique is what makes your business successful across the board. That’s why we provide industry-specific insurance options for businesses of all types.

March Madness – North Bay Style!

bfvvvvA North Bay Insurance Review

March is over and we spent the while month watching 64 college basketball teams play to the final four, then to the championship game.  Congratulations to North Carolina! The entire thing reminded us of some insurance madness. We thought we would share with you our “insurance madness final four.” These can impact your business insurance and personal insurance programs.

Insurance Madness Final Four

  1. Always use an independent agent. Independent agents will search the market for the best possible insurance designed for your family or business. Independents agent do not work for an insurance company, they represent you and look out after your interests first.
  2. Never buy insurance online. When you buy insurance online you never know if you are getting the best combination of coverage, price, and service. However, you do find out when you have an uninsured claim.
  3. Always consider deductible options. A simple way to save money is to consider increasing your deductible on your auto insurance, home insurance, or even your business insurance.
  4. Many people don’t consider these coverage’s but they should
    1. Identity theft is the fastest growing crime in the United States. Every homeowner should consider identity theft coverage.
    2. A personal umbrella can offer additional protection for those who own a home or have personal assets worth protecting.
    3. Your business might be at risk if you do not have cyber liability or employment practices liability.

North Bay Insurance Brokers, Inc. is your trusted solution for homeowners insurance. We offer coverage options that are both flexible and affordable, and will work with you on an individual basis to find a policy that best suits your needs. Our team is dedicated to providing the assurance that your family and your possessions are secure.

Believe It Or Not…Employers Do Get Sued By Employees

trend-1202992_640What You Need To Know About Discrimination Claims

Your employees can be, and should be, your most important asset. Often, they are the front line of customer services. They solve problems, sell your products and services, and represent your business to your customers and prospects. Managing employees can be rewarding and challenging at the same time. Employees are very aware of their rights and your responsibilities; which should lead you to be professional, kind and follow the law as you relate to your employees.

Employment Practice Liability Insurance is a product that many businesses buy to protect themselves from litigation. A recent article in the Insurance Journal points out that while employment claims are down; claims involving retaliation are at an all-time high.

The following are the top 10 categories of charges filed with the EEOC:

  • Retaliation under all statutes: 37,955 (42.8 percent of all charges filed)
  • Race (including racial harassment): 31,073 (35 percent)
  • Sex (including pregnancy and sexual harassment): 26,027 (29.3 percent)
  • Disability: 25,369 (28.6 percent)
  • Age: 20,588 (23.2 percent)
  • National Origin: 9,579 (10.8 percent)
  • Religion: 3,549 (4.0 percent)
  • Color: 2,756 (3.1 percent)
  • Equal Pay Act: 938 (1.1 percent) But note that sex-based wage discrimination can also be charged under Title VII’s sex discrimination provision
  • Genetic Information Non-Discrimination Act: 333 (0.4 percent)

How To Reduce The Possibility Of Employment Claims

This is not a complete list, but is considered a start to developing solid human resource policies.

  • Create an employee handbook
  • Have a clear anti-discrimination policy
  • Document conversations
  • Complete annual employee reviews

At North Bay Insurance Brokers, we understand that mistakes happen. That’s why we’re committed to helping you create a Professional Liability policy that keeps your day-to-day operations protected should your business be held legally liable.

OSHA’s New Anti-Retaliation Rule Will Impact North Bay Businesses

The Occupational Safety and Health Administration (OSHA) recently instituted new electronic injury reporting and anti-retaliation rules.  The anti-retaliation provisions are part of a broader record-keeping rule that will require certain businesses to submit electronically all injury and illness data—some of which will be available to the public on the agency’s website.

The rule also prohibits employers from discouraging workers from reporting an injury or illness. The final rule requires employers to inform employees of their right to report work-related injuries and illnesses free from retaliation, which can be satisfied by posting the already-required OSHA workplace poster.

Here are some of the important aspects of the new rule

  • Employers must provide anti-retaliation training.
  • Have procedures for reporting injuries and illnesses that are reasonable and that do not deter or discourage employees from reporting.
  • Employers will need to develop a system, or process, for responding to, and resolving, employee concerns.

Every industry has specific needs when it comes to insurance. Industry-specific risks make it impossible for insurance companies to lump together one insurance plan for every business. At North Bay Insurance Brokers, Inc., we understand that being unique is what makes your business successful across the board. That’s why we provide industry-specific insurance options for businesses of all types.

North Bay Insurance Brokers, Inc. provides industry-specific insurance to businesses in Sonoma, Napa, Marin, Santa Rosa, Petaluma, American Canyon, and surrounding areas.

 

Go Where The Pros Go… North Bay Insurance Brokers

A Business Insurance Update

Most businesses purchase general liability insurance to protect the business against certain kinds of claims. These claims could include bodily injury and property damage. Professional Liability insurance, also called Errors and Omissions insurance, protects against a claim from a third party who suffers a financial loss because of services or actions.  Any individual or business in a profession that provides advice, expertise, recommendations, or a professional service to customers, clients, or another party, would benefit from Professional Liability insurance.

Typically, professionals such as doctors, accountants, nurses, insurance agents, lawyers, and architects purchase Professional Liability insurance. However, if you have clients who are in the business of providing advice, opinions, or services, they should consider Professional Liability insurance.  Professionals who provide advice are expected to have knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired according to the standards of conduct in their profession.  Businesses and individuals can be held legally responsible for any financial loss caused.

It’s important to note that almost all Professional Liability insurance policies are sold on a “claims-made” basis. This means that the insurance only covers work performed while the policy is in force, and for claims actually filed during the term of the policy. Professional Liability insurance is offered in many different forms that protect many kinds of firms.

If someone feels he or she has suffered loss or damages due to a professional service, often their next action is a lawsuit.  These kinds of actions can be costly and severely reduce a firm’s resources. Professional Liability insurance can help preserve assets and more importantly help preserve the firm’s reputation.

North Bay Insurance Brokers, Inc. provides industry-specific insurance to businesses in Sonoma, Napa, Marin, Santa Rosa, Petaluma, American Canyon, and surrounding areas.

Every industry has specific needs when it comes to insurance. Industry-specific risks make it impossible for insurance companies to lump together one insurance plan for every business. At North Bay Insurance Brokers, Inc., we understand that being unique is what makes your business successful across the board. That’s why we provide industry-specific insurance options for businesses of all types.