Archives November 2015

3 Uses of Social Media for Insurance

As social media is becoming ever more prevalent in modern life, you should really look into all the benefits it can provide to brokers at an insurance company. Social media for insurance is a great way for insurers, advisors and brokers to stay in touch with clients, but it can also provide numerous other benefits.

Show New Products

Insurers are beginning to realize that social media pages are a great way to show new products and services to clients who may not have learned about them otherwise. Additionally, with so many websites becoming compatible with mobile devices, clients can access information from anywhere.

Tool for Detecting Fraud

Fraud in disability claims and workers compensation has been known to happen from time to time, and although most of the time it will be legitimate, social media can be a viable tool in determining if someone’s claim is genuine.

Staying in Touch

As a broker or insurer, it is important to remember that your clients are people, too. Social media can be a great way to remain aware of all the life events occurring in your clients’ lives so that you know where they are and what they might need from you in the future.

You should not be intimidated by new technologies. Instead, you should embrace them and use social media for insurance to your advantage.

Solutions for Workers Compensation Insurance

Although workers compensation insurance is required, it just makes sense to protect your business in case an employee does get injured on the job. Buying the right New York workers compensation insurance is vital to finding the coverage you are expected to have and making it fit into your budget. You need a company that understands how to provide the policy that meets your needs. Then, use the resources of your agent to get the best rates and put together a prevention program that prevents injuries from occurring.

Controlling your claims is a good way to maintain your rates on an annual basis. Working with your agent, you can implement changes in procedures to increase safety across the board in your organization. When you provide training to your staff, it encourages an atmosphere of well-being that trickles down to your bottom line. With your policy, you get the resources you need to tackle these problems so that you aren’t reinventing the wheel. Save your time by getting a partnership for your business.

New York workers compensation insurance might be a requirement, but it protects what you’ve worked so hard to build. This isn’t the time to scrimp, but to make good decisions with your agent to have the right policy to fit your needs. Finding the right company is important to your choice. Don’t settle for anything less than the best.

Send a Letter, Share a Thought

There’s no doubt about it: you live in an electronic world. People are more apt to pull out a smart phone than the yellow pages when they need to find a business. If you want your agency to succeed, part of your marketing for insurance should include using online media.

Electronic Newsletters

Mailing a newsletter has been a popular way for agents to share ideas or information with their clients for some time. No doubt it can be effective, but it’s also expensive. It’s time to give your bulletin an update: an email version. Keep the format, but now you can send it without a visit to the post office.

Here’s a bonus: full color won’t cost you anything extra. Better yet, you can include a way for customers to click back to your website or give you a referral.

Blogs

Blogging is no longer just for aspiring cooks and crafters. It’s an ideal way for you to engage potential clients with information they can use. Offer tips on topics such as how to choose a dishwasher or television. And hey, maybe you could point out that you happen to insure those items.

The key to marketing for insurance is to get the attention of clients. To do that, you need to go where they are. Using basic media such as email and blogs can help get your name seen.

Professional Liability at a Glance

When you are business owner, you will need an Errors & Omissions insurance policy. Before you agree to professional liability insurance for insurance agents, you should know a bit about this type of insurance as well as what you need as a professional. Not all policies are created equal and the best policy for you probably includes some level of customization.

What Is the Difference Between Professional Liability and Errors & Omissions?

The terms professional liability and errors & omissions are generally interchangeable. This type of coverage protects you and your company against clients’ claims of negligent actions or inadequate work. The insurance will usually cover court fees and settlements up to a specified cap. These financial costs can often bankrupt an otherwise healthy enterprise.

Basic Professional Liability Policy Elements

Your eligibility for certain policies will likely be partially based on your revenue and will have a cap as to how much you can collect in the event of a claim. Coverage may include:

  • Insolvency
  • Innocent insured
  • Independent contractors
  • Property damage
  • Contingent bodily injury

If your enterprise has specific needs, add-ons are usually available for purchase.

Professional liability insurance for insurance agents is a must. You don’t want to take an unforeseen financial hit because of a client’s claim. Shield yourself with an E&O coverage plan that will provide adequate protection against potential future obstacles.

Nursing Home Insurance Coverage Agents

According to the CDC, the number of nursing homes in the United States is going to nearly double in the next few decades. Although there were 15 million nursing homes nationwide in 2000, there will be more than 27 million by 2050. This is due partly to the aging of the Baby Boomer generation, who will need to rely on the specialized services offered by home health care providers, assisted living facilities, nursing homes, and alternative residential care places. This is a growing niche that is an excellent area for independent insurance agents to expand their business.

Broker Connections

As a professional insurance agent, however, it’s important to make good connections with insurance providers, and to find quality nursing home insurance coverage plans that can protect your clients. Some of the most important types of coverage to have include liability insurance (professional, general, excess, and Directors and Officers), property and asset coverage, works compensation, business interruption insurance, automobile insurance, crime insurance, and cyber liability coverage.

Quality Providers

In addition, it’s a good idea to find a provider that offers a strong risk management package. This helps keep your clients safe and can lower their insurance premiums. It’s best to find a provider that focuses on identifying and mitigating risk, not just making repairs.

Extensive Experience

Finally, be sure to partner with a business that has a great deal of experience in the world of nursing home insurance. Finding the right nursing home insurance coverage is a great business opportunity for insurance agents.

Business Resources You Can Get From an Insurance Agency

You know you can get insurance for your business from and insurance agency, but did you know there are other resources too? Of course, every insurance company is different, so the resources available may vary. Some local Princeton insurance providers are committed to protecting your business and want to help your business profit.

Resources Available

You can talk to your insurance agent to find out if they offer you the following resources:

  • Audits: Some providers will guide you through the audit process. This means they will oversee any disputes.
  • Assigned Commercial Accounts Manager: A few local Princeton insurance companies also offer a highly experienced insurance professional who provides you consultation and helps you with risk management.
  • Risk Management: Many insurance providers will off risk management services to help you figure out exactly where your business is at the most risk.
  • Certificates of Insurance: You may be able to get a designated email account, so you can request and receive certificates of insurance much more smoothly.
  • Motor Vehicle Reports: Some insurance agencies will help you find drivers that are suitable for your business by running motor vehicle reports.
  • Claims Handling: If anything bad does happen, you should be able to count on your insurance company to work with your claims adjuster to get a settlement quickly.

If you want to have these resources, talk to your insurance agent to find out if they provide them. Otherwise, find a local Princeton insurance provider who does. Start getting the service and resources you deserve!

Reasons to Carry Errors and Omissions Insurance

A good EO insurance in New York is critical to the stability of your business. General liability policies do not protect adequately against claims made that fall under the classification of personal services.

No One Is Perfect

Mistakes can happen that leave you vulnerable to lawsuits. Even with the best of intentions, it is still possible to be held liable for wrong doing. In an industry that requires numerous documents and procedures to be followed, one mistake on a critical form can end up causing damages that you may have to pay for.

Freedom to Make Choices

You don’t always have the time to give every decision the careful consideration it deserves. Some important choices must be made under extreme pressure and at a moment’s notice. When you make a choice that causes some kind of harm to your clients, you are still going to be held liable regardless of the circumstances. When you are supported by a robust insurance policy, you know that you are protected against honest mistakes made in the midst of a crisis.

Keep Operating

A lawsuit can be filed against your company at any time. Even if you are not at fault, you will still have to devote resources to defending against the claim. The legal process can be time consuming and stressful. Errors and omissions insurance provides coverage for your legal expenses. This often includes financial relief throughout the entire discovery and litigation process and allows you to keep your focus on your business where it belongs.

Find out more about eo insurance in New York. Contact an agent, and let an expert that is knowledgeable about your industry and region help you to design a plan for your company.

Who Needs Directors and Officers Insurance?

You insure your business so that you and your employees can be protected. You don’t want to get an insurance that you don’t need. You may be wondering if you need directors liability insurance. In order to know the answer to that question you have to first understand what it is, how it protects you and how you can get it.

What is Directors and Officers Liability Insurance?

Directors and officers liability is payable to the directors and officers of a company or to the organization itself. It can be used to give reimbursement or advancement of legal costs.

How Does Directors and Officers Liability Protect?

Directors liability insurance protects you and your officers from legal claims and litigations. If you, your business or a person in a position of authority is sued due to something related to the business, this insurance can cover the cost of legal defense. This can save you and your employees a lot of money and hardship.

How Can You Get It?

You can get this type of insurance by talking to an insurance agent. They can go over exactly how this type of policy works and how much it would cost. An insurance agent can also make sure that your business is completely covered. If you don’t know if you need directors liability insurance, talk to an insurance agent today.