Category: Insurance

Volunteer Driver

Coverage for Driving While Volunteering

As with anyone who drives, volunteers that operate vehicles for nonprofit organizations should have some form of auto insurance in accordance with state law and regulations. Such coverage may be sufficient for personal driving, but it is generally inadequate to cover volunteer work. Most personal auto insurance policies don’t offer enough coverage for either property damage liability or body injury liability, especially since an accident on company business may result in significantly more damage than your typical accident. Organizations need to have policies that protect their organization and its helpers.

Managing Risk

It’s incumbent on your organization to consider volunteer driver risk. Consider these following best practices in determining an organizational policy and approach to managing volunteer driving:

  • Staff a position to oversee drivers and assign and/or terminate as necessary.
  • Require volunteers to submit a copy of their motor vehicle records annually.
  • Document proof of personal auto insurance policies for each driver and require proof of renewal after coverage expires.
  • Clearly define responsibilities and requirements for everyone driving on behalf of the nonprofit.
  • Require proof of passage of annual vehicle safety inspections when personal vehicles are involved.

Having a formal plan that covers vehicle operation better equips your nonprofit to handle accidents and issues.

Covering Your Volunteers

Your organization was established to help people. It also provides an opportunity for others to contribute to the benefit of others. While nobody plans to be involved in an accident, you owe it the community you serve as well as those that support you to have adequate insurance for vehicular accidents.

Construction Site

Pros and Cons of Off-Site Construction

Usually, when you build a new structure for your business, the construction takes place at the site where the structure will eventually stand. Off-site construction is a different practice that involves fabricating and manufacturing building elements somewhere other than the eventual location and then assembling and transporting the finished product. It has both advantages and disadvantages.

Off-Site Construction Pros

Off-site construction is a less expensive means of building a structure. Part of the money savings results from the fact that the process takes less time than building on-site typically takes. Another reason for the money savings is that the new materials used in off-site construction may be less expensive than those used for on-site construction.

Off-Site Construction Cons

The money that you save may not last, however. Off site insurance coverages can be greater than they would be for a building constructed on-site. This is because the new methods and new materials utilized in off-site construction may be more susceptible to water damage due to storms and/or floods. The risk of fire may also be greater, according to some assessments. Using new assembly techniques and materials can introduce a steep learning curve for contractors, and defective construction may result. All of these factors pose a greater risk to insurers that may charge a higher premium to compensate for the uncertainty.

EPLI insurance

Securing You and Your Employees With Powerful Insurance

Lawsuits have now become a common process that many businesses face. According to AXIS, there has been a significant increase in litigation placed against companies especially claims regarding employment practices insurance or EPLI insurance. In order to understand why this insurance policy is so important for a business, it crucial to understand what it is.

What is Employment Practices?

To put it simply, employment practices involve the activities that occur during an employee’s hiring process or their working environment. Employment practices liability handles the kind of problems that happen in these situations by providing the financial assistance businesses need. See, a lawsuit that stems from any alleged incident involves court fees, attorney fees and possible settlements. That is why epli insurance is a vital investment for any business, large or small.

Types of Incidents

The kinds of situations that involve employment practices liability include:

  • Sexual Harassment
  • Discrimination
  • Failure to Employ
  • Misinformation or Mismanagement of Benefits
  • Wrongful Termination

How Much Does it Cost?

While this policy is a worthy investment, it worth knowing the kinds of rates a business can expect in order to budget accordingly. The cost of this kind of liability policy depends greatly on the number of employees and the kind of industry involved. If you are interested in acquiring a specific rate, it is recommended to contact a qualified insurer for even more information.


CAB Reports Help Simplify Underwriting for the Trucking Industry

Trucking companies and drivers have many considerations, including logistics and truck maintenance. Insurance coverage protects the finances and livelihood of haulage drivers and companies, and dependable agencies also check for issues such as duplicate VINs, or Vehicle Identification Numbers. If found, the agencies investigate further. Part of the investigative process involves referencing reports from the Central Analysis Bureau, or CAB. These verifications are important in multiple ways to the task of underwriting this industry’s insurance, as seen on

Keep Records Updated

If a CAB report signals shared information such as a VIN or physical address, fraud is not necessarily involved. Such duplications do, however, alert insurance carriers to examine records closely. Sometimes the Federal Motor Carrier Safety Administration, or FMCSA, has outdated documents. Insurance company investigations prompt files to be kept current.

Improve Efficiency

When CAB reports find current records, the process of insurance underwriting becomes quicker and simpler. In turn, companies and drivers get insurance coverage so they can do their jobs. The entire trucking industry functions more effectively when one link in the process does not slow the entire operational chain.

Lessen Anxiety

Reports from CAB can help lessen the tension and anxiety for truck drivers and companies. When they understand the information CAB reports gather, they can take steps to address potential risks before applying for coverage.

Accurate CAB reports benefit both insurance underwriters and trucking companies and carriers. Underwriters feel safe with the risks they are taking on, and companies and drivers feel secure knowing they have the insurance they need.

biotech insurance

Finding Biotech Insurance That Suits Your Business

For pioneering firms in the life sciences, finding the right insurer can be a challenge. When your work is to produce new discoveries, you need to work with a firm that has experience protecting those research-heavy projects and the companies that finance them. It’s a little different from lab insurance for product testing and other niches in the scientific community, and for firms that are more invested in manufacturing, testing, or other biotech niches, insurance for biotech companies is just as important. So who do you turn to?

Customized Insurance for the Life Sciences

If you want to make sure you get a policy built to suit, you need to go with a firm that has experience catering to the entire sector. As points out, there are firms out there with over a century of experience who know how to build a policy around the customer, instead of offering a niche product for a small slice of the community. That means they will know what questions to ask about your operation, and they’ll also be prepared to offer you the right extra coverage options as your company grows and takes on new challenges. There’s no replacement for having an insurer who really understands your mission and your operation, so make sure you find the biotech insurers who know your business before you pick a policy.

Daniels Insurance

Covering Unique Risk in the Energy Industry

Operations within the gas and oil industry are fraught with risks, regardless of whether your company is a provider of supporting services, a transportation provider, or in the midst of the drilling fields. The expert advice coming from Daniels Insurance cautions that there are both highly-noticeable and subtle liabilities lurking in each company. To help protect against the financial costs of the exposures, an insurance policy tailored to address oil and gas industry liability is strongly advised.

Common Coverages for Loss

There are dangers unique to the industry, with the most common claims filed after incidents that included fire, explosion, machinery breakdown or failure, CBI loss, and blowouts. Because these incidents cover significant areas of operation within the industry, any of the following areas of coverage are applicable.

  • General Liability
  • Property
  • Professional Liability
  • Pollution
  • Well Control
  • Inland Marine
  • Commercial Auto
  • Cyber Liability
  • Directors and Officers Liability
  • Surety Bonding
  • Group Health Benefits
  • Workers Compensation

The Potential Risks

Any business in the oil and gas industry faces risks with employee injury, property damage due to fire, or commercial automobile accidents. These aren`t that different from the risks that other businesses operating in other industries experience, but there are additional risks with hazardous waste, environmental spills, theft, regulatory compliance, and cybersecurity. Meeting with the right insurance agent can make sure a plan is tailored to each area of risk.