What You Want in an Insurance Agent

Insurance is a convoluted industry that few outside of it fully comprehend. Thats why its critical that you enlist the aid of a trusted and experienced insurance agent when determining which premiums to purchase for yourself, your home or your business. Before you begin exploring various Orlando insurance agencies in search of an agent thats right for you, take a look at these desired traits and attributes, and then determine if a prospective agent shares them before signing on the dotted line.

Stability

How long has the prospective agent been in business? When youre thinking of hiring one, the more experience they have in the industry, the better it is for you.

Credentials

Ask the agent where and how theyve received their training, and whether they have references you speak with.

Professionalism

Assess how professional the agent is in their dealings with you. You can assume they exhibit a similar degree of professionalism throughout all facets of their job.

Geography

The ideal insurance agent lives near your home, and has convenient hours. Agents that live nearby are highly desirable both for convenience and because that indicates a high degree of knowledge about the rules and regulations of your specific area.

Orlando insurance agencies can assist with a wide array of insurance needs and solutions, but it all starts with a trusted and educated insurance agent.

Revealing Too Much Can Trigger Computer Consultant Insurance Claims

Computer consultant insurance is a good thing, reflected Amy of ABS Consulting, in the aftermath of the five-figure lawsuit filed against her for accidentally breaching the nondisclosure agreement she had signed with one of her oldest (and now former) clients. Admittedly, it was a careless mistake–simply posting a message to a variety of social media sites. Commenting about her vacation after finishing up a job, Amy thought she was being vague but actually provided enough information for the data, in aggregate, to form a picture of what she had been working on. The client was understandably angry, even more so when a counter-move by a competitor made it obvious that the information Amy had inadvertently leaked had been used to the competitor’s advantage. There were multiple lessons to be learned from the ordeal, Amy found.

Read the Nondisclosure Agreement Carefully

Make sure you understand completely what you are agreeing to before signing an NDA. It may stipulate not only the nature of the information not to be shared, but may also have requirements about the segregated storage, return, or destruction of a client’s data after a certain period of time (e.g., five years after completion of a job). If so, set a tickler in the firm’s calendar to perform the required task at the appropriate time so that it is not overlooked.

Be Careful about Social Media

It’s common, especially for the younger generation, to post updates about your whereabouts and the goings-on in your life–particularly when you’re in a novel location (hello, Kathmandu), enjoying a new thrill (skydiving for the first time?), or just finished a major milestone event (software testing finally completed). However, make sure you don’t accidentally reveal client information in the process. Sometimes posting seemingly innocuous comments, if there are enough of them, can provide too much information that an interested party can use to its advantage, as Amy discovered. Also, publicizing information about being on vacation is essentially advertising that your home and workplace are empty, which could encourage theft.

Talk to a Professional for Guidance

Work with a professional insurance agent, who can advise you about computer consultant insurance for the liability you face for a variety of risks, such as misrepresentation of facts, improper documentation, data losses or breaches, negligence, and many other exposures. An agent can tell you about a comprehensive mix of protection for these and other common dangers that threaten your livelihood. Talk to an agent today.

Errors, Omissions, and Real Estate Liability Insurance

Real estate agency owners are due to the nature of the business especially susceptible to professional liability lawsuits simply because they handle a lot of expensive property transactions. This is primarily due to the fact there are so many ways that a real estate transaction can go unsatisfactorily, which only heightens the likelihood of a disgruntled client bringing a lawsuit against the agent.

That’s why it’s so important to always carry sufficient real estate liability insurance. One expensive court settlement could ruin a small business entity.

Following are a few reasons why lawsuits occur in the real estate industry:

  • The buyer gets cold feet and alleges that the agent didn’t act in their best interests
  • The advice given fails to meet a client’s expectations
  • The agent fails to properly document decisions or actions, or
  • A client alleges the agent failed to disclose information about water damage or structural damage they had knowledge of
  • Misrepresentation of the property condition, boundaries, or size
  • Failure to verify information given by the seller to the buyer
  • Undisclosed or undetected water damage, infestation, or sewage or septic problem
  • Errors in the home inspection
  • Violations of your state’s fair housing rules
  • Inaccurate appraisal
  • Inadvertently offering bad or inaccurate advice, and
  • Breach of confidentiality

The fact is that the agent doesn’t have to actually make a mistake to be sued under a professional liability claim. As long as the client perceives that the services provided lead to a financial loss they could decide to file a lawsuit.

How to manage real estate professional liability risks

Managing real estate professional liability risks can be helped greatly by creating a universal standard of procedures. Make sure your agency treats all clients equally, regardless of their net worth. You should always keep up to date on fair housing laws so you don’t accidentally make a mistake when helping someone in the market to buy or sell a home.

Documenting client communications goes a long way in preventing errors from occurring. Your records will likely be the only proof that your business isn’t liable for negligence or other wrongdoing. Be sure to document and properly store all client communications, but especially any challenges that arose during the process.

Proper risk management planning can help avoid devastating challenges, and real estate liability insurance is the cornerstone of any risk management strategy.

Key Considerations for Physicians Choosing Long Term Disability Insurance

Picking a long term disability insurance policy can feel like a daunting prospect for any physician. However, selecting the right long term disability insurance for physicians does not have to be a stressful or time-consuming task. Physicians should be able to narrow down their options quickly by focusing on the following simple factors.

Policy Limits

For most physicians, ensuring that a disability insurance policy offers adequate income replacement should be a top priority. Physicians should consider their current income and look for a policy that covers at least 50 percent of it. Physicians with substantial savings can opt for lower coverage, but they should remember that a disabling condition may easily outlast an emergency medical fund.

Fine Print

Next, physicians should check whether a given policy offers adequate protection. Physicians may want to consider the following questions:

  • Is the policy cancelable? Physicians are left vulnerable if an insurer can cancel a policy or change its terms.
  • Does the policy address the physician’s specific occupation? A policy should recognize conditions that are disabling given a physician’s specific job duties.
  • Does the policy only require own-occupation work? Ideally, a policy should award benefits if a physician cannot work in his or her regular occupation, even if the physician can work in a related field.

A policy that meets these terms should provide more comprehensive protection than a policy that is less stable or less occupation-oriented.

Finding the Right Fit

When purchasing long term disability insurance for physicians, physicians may benefit from partnering directly with an insurer that specializes in insurance policies for medical professionals. This ensures that the final policy will be optimally structured to address the physician’s unique needs and areas of risk.

 

 

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Directors Liability Insurance for Much-Needed Protection

There is very little that directors of an organization can do to diminish the complexity of the business model that makes up their duties, as well as the legal and regulatory environment in which they constantly operate. The fact is, directors often find themselves working in an extremely difficult environment. Many of the fundamental principles governing their conduct constantly come under increasing judicial and regulatory scrutiny.

One serious concern is the legal ramifications when a lawsuit develops questioning their use of power within their position. Fortunately, a great deal can be done to protect the personal assets of directors. Directors liability insurance, or directors and officers (D&O) insurance protects against legal claims for wrongful acts performed by corporate directors or officers as part of their corporate duties.

Types of claims associated with this position

Wrongful acts include omissions, errors, misleading statements, misstatements, neglect or breach of duty. Beneficiaries are generally the directors, officers or, in some cases, the corporation. Shareholder groups have only added to the problem by pressuring corporate management to make dramatic changes along with what they feel are improvements in order to remain economically competitive in the complex world markets of today.

While there may be no single solution for protecting directors from liability issues, directors liability insurance can be an effective tool in mitigating a firm’s overall exposure. Many agencies are available to provide D&O insurance designed to protect a director or officer of a firm for liability due to breaches of duty resulting from any of the aforementioned accusations.

Directors coverage is typically underwritten on a one-year basis for a single aggregate limit of liability. Most corporations will purchase entity coverage in one form or another, or have a predetermined allocation for securities law claims as a means of avoiding much of the traditional allocation of loss that normally occurred under previous D&O policies.

It’s a sad fact that allocation can often result in disputes between D&O underwriters and policyholders as to how certain elements of a loss, for example, uncovered policies or wrongful acts, should affect the ultimate amount of insurance recovery.

While there is little directors can do to diminish the complexity of the business, legal and regulatory environment in which they operate, a great deal can, and should be done to protect the personal assets of directors through a combination of strong corporate governance, broad corporate indemnification, and implementation of a risk transfer program that includes a high quality directors liability insurance program.

 

 

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Making Sound Decisions on Orlando Auto Insurance

Here in Orlando a motorist might enter into a state of shock when their attorney tells them that they are going to have to pay tens of thousands out of their own money in out-of-pocket expenses even though they were not the cause the accident (and the at fault party complied with the Florida insurance laws).

The minimum requirements for car insurance in Florida

Drivers must have $10,000 worth of property damage coverage to pay for the other person’s car repairs when found at fault. In addition, motorists must have $10,000 worth of personal injury protection (PIP) to pay for medical bills and lost wages (Florida is a no-fault state and your own insurance company must pay 80% of your medical bills and 60% of your lost wages up to $10,000).

These are the only requirements in Florida in order to get behind the wheel of a car and drive. It’s estimated that over 50% of people on the road carry only this minimally required insurance and many have none at all (and are therefore driving illegally). So, given these statistics, chances are you will not be prepared unless you have planned ahead and taken care of yourself and your family by buying adequate insurance.

How much Orlando auto insurance is needed for adequate protection?

All drivers should purchase collision insurance on their auto policy. If you do not have collision insurance you’ll have to pay out of pocket to repair or replace your vehicle if the damage to your car is more than $10,000, the at fault driver is driving illegally with no insurance, or you caused the accident.

Purchase extended personal injury protection (PIP). $50,000 to $100,000 is the recommended minimum to protect you in the event that your medical bills and lost wages are more than $10,000. (Remember that $10,000 in PIP coverage goes rather quickly when medical attention is required).

You may also want to consider purchasing medical payment coverage ($5,000 is the recommended minimum), bodily injury liability ($100,000 per person/$300,000 per accident recommended, or more if you have substantial assets), and uninsured and/or underinsured motorist coverage ($100,000/$300,000 recommended minimum). This is because, if the at-fault party has little or no liability insurance, you won’t have any other recourse.

 

 

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What Goes Into Cheap Car Insurance?

If you’re looking for cheap car insurance in Orlando, FL, you may feel a little overwhelmed at all the options available. One of the best things you can do is brush up on your insurance terms before you speak with a representative. Knowing what the standard insurance jargon means will help you make a more informed decision about the coverage that’s right for you.

Available Coverage Options

There are generally four coverage options that fall under car insurance, and you can mix and match them to ensure you get cheap car insurance in Orlando, FL.

  • Collision coverage – Protects you from loss in the event that another vehicle hits yours
  • Liability coverage – Safeguards you from loss in case you cause personal injury or property damage while driving your vehicle
  • Comprehensive coverage – Covers the costs associated with vehicle damage caused by non-collision related incidents, like theft or fire
  • Medical coverage – Takes care of any medical expenses incurred by the driver and occupants of the insured vehicle

Make It Personal

Consider your situation when you purchase car insurance. Many insurance agencies will help you pick and choose the coverage options that are right for you. However, you need to be sure that you have the legal minimum required by the State of Florida. With the right car insurance, you can drive with peace of mind, knowing that you’ve taken the proper steps to protect your financial future.

 

 

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Five Reasons to Buy Miscellaneous Professional Liability

In this Age of Litigation, it is wise to consider what protections are available in the business community. Miscellaneous professional liability protects against financial loss if you are sued for underperformance, low sales or even artistic appropriation. Here are five reasons to consider coverage:

1. Litigation is on the rise.

Disgruntled people these days take their claims to court. Regardless of whether or not a claim is deemed legitimate, the publics urge to exercise its right to use the legal system is strong.

2. Legal defense is expensive.

The cost of going to court is more than monetary, although the dollar amount may be high. There is also work time lost and possible loss of professional standing.

3. Contracts have their limitations.

Employment contracts may cover much ground, but they are typically limited in the amount of protection they deliver in court. Contracts are often easily challenged in areas of professional liability.

4. More clients are requiring Errors and Omissions.

Many companies want the professionals they hire to carry miscellaneous professional liability. In a competitive job market, it may provide the edge in securing a project.

5. MPL insurance is cost-effective.

Carrying a liability policy inspires confidence in potential clients, and lets them know you are a responsible professional in your field. The cost of carrying a plan makes economic sense when you consider the potential costs of a single lawsuit.

 

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Employee Benefits Programs Offered Through Insurance Companies

Being able to offer your employees a competitive benefits package is important for many reasons. It helps attract and retain talented employees, helps make sure all you employees are happy, and makes everyone feel appreciated. Some Santa Clara Insurance companies are now offering employee benefits programs to help companies do all of these things. What kind of benefits can they offer?

Health Plans

The most important thing you can offer your employees in a benefits package is a health plan. Many insurance companies offer a wide selection of plans for you to choose from on behalf of your employees. These plans can include consumer-driven health plans, group health, long-term care, and disability.

Retirement Plans

After health plans, the benefit most requested from businesses is a retirement plan. The most common retirement option is the 401k. This is an excellent benefit to offer your employees. A 401k is largely regarded as one of the most important criteria for job acceptance with a potential employer.

Life Insurance

Going the extra mile for your employees makes them feel appreciated. Offering life insurance will make them feel secure, both at home and at work. Many insurance companies offer plans that you can tailor to your company’s specific needs.

Offering your employees a competitive benefits program has never been easier. Contact your local Santa Clara insurance broker to find out what they have to offer you and your employees.

 

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Restaurant Insurance in Texas: An Overview

When you own and operate a restaurant, you automatically have a high potential for losses or accidents. A large staff, late hours, heavy equipment and high temperatures together create an ideal environment for injuries and accidents, whether slips and falls, severe burns, food poisoning or any number of other occurrences. One of the easiest ways to ensure your business stays protected in the event of an unfortunate incident is to explore your options as far as restaurant insurance in Texas.

Just What Does Restaurant Insurance Typically Cover?

Restaurant insurance policies vary substantially from one to the next, but they can be designed to guard against an extremely broad range of events and occurrences. Common coverage options include, but are not limited to:

  • Property damage resulting from weather or a fire
  • Loss of income due to supplier or utility issues
  • Slips and falls
  • Food poisoning

Essentially, restaurant insurance in Texas covers a wide array of restaurant accidents and incidents for which you could otherwise presumably be held accountable.

Running a Restaurant Means Understanding the Risks

As a restaurant owner you know to expect the unexpected, whether that means running out of roast beef or having your kitchen flood during Friday nights dinner service. Restaurant insurance is designed to protect you when the unexpected occurs, so you dont lose your lifeblood over one isolated incident.

 

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