Potential Impacts of the Coronavirus for the Insurance Industry

The novel coronavirus, COVID-19, is now impacting people, businesses, and the overall economy on every continent except Antarctica, with a reach that extends from the local to the global level. The implications of the virus for the insurance industry are only beginning to be revealed. Connecting with insurance agent news sources will help agents stay abreast of I for the industry as they become known.

Which Industries Will Be Impacted?

While the impacts on the health insurance industry are likely the most obvious, other segments of the insurance industry will also potentially experience the effects of the virus as it begins to disrupt multiple sectors of the economy. In recent days, event cancellations have hit the hotel industry as large events and travel plans are canceled. Source: Program Business. Possible insurance industries to be affected include:

  • Life
  • Travel
  • Commercial
  • Farmers
  • Unemployment

COVID-19 has only recently begun to spread in the U.S.; thus, currently, there have been few claims resulting from the virus. However, this has the potential to change rapidly if the virus is not contained. Major disruptions to business and the food supply chain could result in more claims from business owners, farmers, and the unemployed. Staying informed can help insurance agents to be prepared for future impacts on the insurance industry.

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Three Ways Nonprofits Can Address Politics in the Workplace

Election season has already started with the primaries wrapping up and November only a few months away. Many nonprofit organizations help run a variety of charities but are not immune to the stressors of politics. Here are some things to keep in mind regarding politics and non profit organizations.


The experts at VIS states political discussions can become controversial. As an employer, you can prohibit these conversations from taking place during work hours. Keep in mind that not all political speech can be restricted. For example, employees can discuss working conditions or labor politics.


Employees should not use office equipment to help support a political candidate or campaign. This includes using copiers to make flyers, brochures and other campaign advertisements. The employees should not access or use the nonprofit’s member list or their organizational contact information for any political campaign purpose.


Political restrictions included with a dress code policy may be more readily received than separated in the policy manual. For example, banning all hats within the workplace includes politically endorsed hats as well.

Combining politics and non profit organizations can create a negative workplace environment. If the nonprofit has any questions regarding the introduction of new policies and procedures, an experienced nonprofit attorney can help review the changes for increased liability.

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Tax Season Advice for Truckers

Tax season is here again, but as a trucker, you don’t have to dread it. There are a variety of ways to make tax laws work for you so that you can get a sizable return, or at least minimize the amount you owe. Use these truck driver tax tips to help you prepare to file.

  1. Get Organized

No one likes to think about taxes every day, so set up a system where you don’t have to. Designate a special envelope for receipts and keep a notebook in the glove compartment to keep track of mileage. Having everything in one place will minimize your stress at tax time.

  1. Hire a Professional

Accountants eliminate the stress of worrying whether you have filled out complicated forms correctly. As Western Truck insurance programs point out, tax laws change every year, so you need a professional to keep you up to date with the latest changes.

  1. Think Outside the Box

Trucking is a unique profession, so your tax deductions are going to be different from those in other jobs. Potential deductions might include:

  • Furnishings for sleeper berth
  • Highway tolls
  • Fuel
  • Professional trucking magazines

Using these tips will help make preparing your taxes as painless as possible. Remember, the deadline to turn in your tax return is April 15.

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3 Ways to Safeguard Your Practice from Malpractice Claims

It’s no surprise that the healthcare industry is on a steady economic incline. Unfortunately, even with such a positive outlook, studies show that up to 88% of physicians who specialize in high-risk specialties will likely have one malpractice claim on record. Malpractice claims are filed when a hospital or medical professional fails to treat a patient properly or cause additional injury or harm. With that in mind, it’s essential to avoid these claims by following these three recommendations.

1. Communicate With Every Patient

Effectively communicating with your patients is probably one of the easiest and most affordable ways to protect your practice and business from malpractice claims. It doesn’t matter if you’re beginning your career or have an established business; it’s crucial to be an active and respectful healthcare provider who listens and gives genuine feedback to every patient.

2. Stay Current on State and City Regulations 

Every state’s medical practice requirements are different. If you choose to pursue patient care in different states, you must become familiar with how each state operates. Then, it’s important to maintain those standards and manage your business within the specified statute.

3. Maintain General and Professional Liability Insurance

Even when you establish a positive doctor to the patient environment, things can still go wrong. Inevitably, many doctors face exposure to incidents that could result in a potential malpractice claim. Huntersure is a resource for allied health insurance providers to help in obtaining and maintaining active general and liability insurance to protect against these claims.

Guard yourself and your business from potential malpractice claims that can hinder your healthcare career. It’s as easy as effectively communicating with your patients, staying current on state regulations, and maintaining the proper insurance.

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What Types of Worker’s Compensations Plans Are There?

Good employers understand how important it is to offer a competitive benefits package that includes health insurance and worker’s compensation. This attracts talent to your company and is an incentive for them to stay employed with you. As health costs continue to rise, however, many businesses are starting to think about other options that may be available to them.

There are two different types of worker’s compensation plans employers can choose from – self-insured plans and fully insured plans. Taking a look at worker’s compensation self-insured vs fully insured may help you better understand which is best for your business.

The Difference Between Self Insured and Fully Insured

Under a fully insured worker’s compensation plan, an employer will pay a premium to their insurance provider. In exchange for this monthly premium, the insurance company assumes all the risk when it comes to paying for a claim.

A self-insured plan, however, makes the employer responsible for the financial risk associated with a worker’s compensation claim. While employers, in this case, don’t pay premiums to insurance companies, they do have to pay out-of-pocket when their employees get hurt.

According to Caitlin Morgan Insurance Services, many employers find self-insured worker’s compensation plans to be preferrable. This “pay-as-you-go” system helps improve cash flow for businesses and help them control costs. Self-insured plans can also make sure that employees are taken care of sooner rather than later.

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Defensive Driving Techniques for Your Volunteer Drivers

The elderly population is growing exponentially with many unable to drive themselves anywhere. As part of the mission of your organization, you may want to start offering volunteer transportation. In addition to a volunteer auto liability policy, these defensive driving techniques can keep both volunteers and those in need safe on the road.

Cushion Spacing

The insurance firm VIS states that defensive driving should be included in the volunteer association’s risk management strategy. One way to drive defensively is to maintain a cushion of space between cars. Avoid following too closely behind another driver. Their sudden movements may give the volunteer driver too little space to respond quickly.

Distracted Driving

Smartphones have proven invaluable to many businesses, but volunteer drivers should remain off of them while on the road. Not only do many state tickets distracted drivers, but they remain one of the top reasons for traffic fatalities. Distracted driving includes anything that pulls their attention from the road including cell phones, food, and drinks.

Proper Speed

Make sure that volunteer drivers maintain proper speeds on the roadways. With 1/3 of all fatal accidents the result of excess speed, it is imperative that drivers remain cautious and abide by the posted speed limits.

Volunteer auto liability comes into play should an accident occur. Defensive driving techniques can help keep the driver safe and passengers safe while lowering the risk of an accident.

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Why Staying Informed on Insurance Matters

Business insurance plays a big part in whether or not your company sees the success you desire. While selecting the right insurance is a big step, there is also a lot of upkeep required to ensure you are doing what’s right by your company. Staying informed is a key way of understanding the changes happening in your industry. Directories like Program Business can help immensely in this regard. If you’re wondering what is Program Business, look over this information to learn more.

Endless Information

As showcased on https://www.programbusiness.com/, there are a number of useful features available to insurance providers and business owners. First, Program Business features a comprehensive list of insurance agents and agencies. This can be a huge asset in and of itself. What’s more, the site also features the latest insurance news. Topics covered on the site include:

  • Acquisitions and mergers
  • Changing laws related to insurance
  • Distribution changes and data

Staying Informed Matters

Having an in-depth understanding of the current landscape of the insurance industry can be a huge help. When you know the latest changes sweeping the insurance world, it can provide you with the insight you require to make the best decisions for your own business moving forward. Take time to explore the information provided on sites like Program Business to learn more about what’s out there.

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Protecting Your Boating Hobby

When you have the warm sun on your face and a breeze in your hair, you aren’t worrying about what will happen if your boat gets into an accident. Unless you live in a state that requires vessel insurance, you may not have taken out a policy to address the liabilities of your hobby craft. However, the right insurance will make a big difference in your ability to sail worry-free.

Coverage Inclusions

With boat insurance, a policy could provide the financial coverage when damage occurs to your boat or parts of it equipment, as well as damage your boat might bring to other boats or property and any bodily injuries that may occur due to an incident involving your boat. Vessels that are usually eligible for coverage include both engine and sail-powered crafts, but vessels that are usually excluded are personal watercraft, such as:

  • Wave runners
  • Wave jammers
  • Jet Skis

Why a Special Policy?

Although boat insurance isn’t always required, the expert information found at www.wqis.com/ advises that you purchase a stand-alone policy rather than relying on your homeowner’s insurance to cover potential damages. While there may be some inclusions of your craft on your other policy, boat insurance lets you specialize in your protection and guarantee financial security when an accident occurs. Paying for the repairs of your boat, someone’s medical bills or the costs associated with legal action could destroy your life’s savings. Don’t’ sail into a disaster; purchase boat insurance.

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Risks in the Dry Cleaning Industry

Successfully running your own dry cleaning business takes a lot of hard work and persistence. It also requires you to be properly prepared for the risks you face as the owner. Here are some of the main dangers that you should know about and what you can do to protect your business from them.

Business Risks

The most important risks that involve your business include the following:

  • Equipment failure
  • Property damage
  • Theft or vandalism
  • Fire
  • Injuries

These issues and others may arise as a result of a number of factors, such as natural disasters, power outages, excessive chemicals on clothing and inclement weather. No matter how careful you are, running into trouble while doing your job is inevitable.

Staying Protected

While it’s impossible to shield yourself from every potential risk, you can do your part in keeping your business safe by investing in the right dry cleaners insurance program. The insurance firm Irving Weber Associates, Inc. reports that you can properly protect your business by finding coverage that is specifically catered to your needs. This ensures that the insurance program you choose is most appropriate for your business.

Protecting yourself from risk allows your dry cleaning business to succeed in the face of adversity. Be sure to look into the coverage that most closely matches your needs and goals to be fully prepared for anything.

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Three Things To Remember When You Move Into A Condo

Purchasing your first condo is no joke; after all the hell and high water that you’ve taken to get the keys, finally moving in is one of the most exciting days of your life. Don’t forget about some of the realities of moving into a condo, however.

Have Insurance In Place

Insurance is a must-have no matter where you live, and condos are no different. If you’re curious about condo insurance specifics and what different packages are offered, look at the data found at Byrnes Agency Insurance to help guide you along.

Be Mindful of Neighbors

Living within close proximity to other people is always a challenge, but courtesy and remember to think about others during your daily life goes a long way. For example, running the vacuum at two AM might be convenient for you, but your neighbor’s sleeping baby might not feel the same way.

Have A Clear Understanding of Fees

On top of rent and insurance, other fees are likely lurking somewhere in your monthly payment: HOA fees, for example, or other small payments you may be making. If you have questions, head to your condo’s office and have someone break it down for you.

Better than an apartment but less work than a house, a condo can make a fantastic home. Don’t wait until it’s too late by knowing what you’re getting yourself into when you move in.

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