Archive for November 2014
Business Insurance Protects Your Company
The business world is fairly
litigious, with lawsuits being filed all over place. Ensure that your
New Jersey business is protected by liability insurance.
What it is
Business liability insures
your assets in case a lawsuit is filed against you and you end up
needing to pay for damages or the hospital expenses of the victims.
It also covers other legal costs that you will incur, like the cost
of hiring legal defense.
Insurance: What the Self-employed Should Know
Self-employment can be
liberating but it does have its downsides. One of these is the lack
of health benefits. Thankfully, the Affordable Care Act allows for
entrepreneurs to acquire NJ health insurance plans much more easily–
here’s what you need to know about it:
Mandatory Health Coverage
One of the most prominent
provisions of the ACA, also commonly called Obamacare, is quite
simple: affordable (and mandatory) health insurance coverage for
every American. This provision gives employers the responsibility of
getting insurance for their workers– all taxpayers should have at
least minimal coverage by this year, otherwise the IRS might end up
penalizing offenders. For this year, the tax penalty will either be
1% of income or $95.00, whichever is greater.
No more Coverage Denial
Insurance providers are no
longer allowed to deny coverage to anyone with a preexisting
condition as part of attaining their primary goal– this is great
news for the self-employed who would otherwise have to pay the IRS
fine. Moreover, you can no longer be charged with higher rates based
on your race or gender, nor can your insurance provider hold your
claim back the moment you get sick. You can also obtain tax credits
from your insurance.
Look for a reliable provider
to gain these benefits. Many New Jersey health insurance providers
will be more than willing to help you get the best coverage you can
afford.
Gauri Gupta Earns Chartered Healthcare Consultant (ChHC) Designation
Gauri Gupta, CBC,ChHC, Director-Employee Benefits Division, at InsureYourCompany.com, a provider of reliable small business health insurance in NJ, has earned the Chartered Healthcare Consultant (ChHC) professional designation from The American College, Bryn Mawr, PA. Candidates for the ChHC designation must complete a minimum of six courses and 12 hours of proctored examinations. They must also fulfill stringent experience and ethics requirements. The ChHC program is considered the most comprehensive credential available for benefits specialists, healthcare consultants, and finical advisors interesting effectively providing clients with cutting-edge information. The curriculum provides professionals with an in-depth understanding of the latest reforms in healthcare mandated by recent legislation.
http://www.insureyourcompany.com/about/news/gauri-gupta-earns-chartered-healthcare-consultant-chhc-designation/
When Your Primary NJ Business Insurance Runs Dry, Open an Umbrella
You may ask: "Why can't I just expand my general liability insurance rather than buy an umbrella insurance?" You'll save more in premiums when you opt for an umbrella policy than if you were to expand your primary coverage. A large firm can pay over $3,000 a year for general liability coverage of $1 million. If you need another million, an umbrella policy can only cost below $1,000. Overall, umbrella insurance is a great way to reduce insurance expenses while expanding a company's protective field. As secondary coverage, umbrella policies won't take effect until the primary coverage is exhausted, making them rather affordable. Trusted insurance companies in NJ such as InsureYourCompany.com suggest buying an umbrella to keep you dry during a legal storm.
http://www.insureyourcompany.com/primary-nj-business-insurance-runs-dry-open-umbrella/
Provide Health Insurance to Get Tax Credits
Enrolling your employees in
a small
business health insurance plan
does more than just help them stay healthy. The IRS can actually give
you tax credits for doing it .
Eligibility
According to the IRS, a
small employer is eligible if he has fewer than 25 workers employed
full-time or a mix between full-time and part-time; furthermore,
their average annual wages should not exceed $50,000. The employer
should also pay uniform percentage for all employees equal to or more
than 50% of the insurance coverage’s premium cost. Tax-exempt
organizations falling under these factors may also qualify.
D&O Insurance: The Least-Known Small Business Insurance Explained
Directors and officers (D&O) liability insurance is the "most discussed and least understood" form of insurance, writes Hartmut Mai, global head of financial lines at Allianz. Despite being offered by small business insurance providers such as InsureYourCompany.com, very few have a clear idea of its benefits. Regardless, there's no denying the growing demand for this type of insurance. According to insurance analytics firm Advisen, while per-occurrence limits in D&O insurance dropped by 19 percent in 2012, the amount of written premiums increased to $2.154 million from $2.086 million just two years ago. The market continues to enjoy demand mostly from companies with revenues of $300 million and up.
http://www.insureyourcompany.com/insurance-least-known-small-business-insurance-explained/
Small Business Insurance Provider Earns ChHC Professional Designation
Gauri Gupta, CBC,ChHC, Director-Employee Benefits Division, at InsureYourCompany.com, a provider of reliable small business health insurance in NJ, has earned the Chartered Healthcare Consultant (ChHC) professional designation from The American College, Bryn Mawr, PA. Candidates for the ChHC designation must complete a minimum of six courses and 12 hours of proctored examinations. They must also fulfill stringent experience and ethics requirements. The ChHC program is considered the most comprehensive credential available for benefits specialists, healthcare consultants, and finical advisors interesting effectively providing clients with cutting-edge information. The curriculum provides professionals with an in-depth understanding of the latest reforms in healthcare mandated by recent legislation.
http://www.insureyourcompany.com/small-business-insurance-provider-earns-chhc-professional-designation/
The Importance of Technology E&O Insurance for Small Business Owners
As an owner of a technology business, you must be aware of these kinds of problems since they can arise at any time. Also, the rate of development in the technology sector is so rapid as to make predicting failures and mistakes all but impossible. Small business owners who tend to ignore E&O insurance end up shedding a significant amount of money when they commit errors such as releasing substandard products, hurting their profit and their reputations. Running a technology-based business requires technology-based protection. Basic packages like general liability insurance cannot cover IT-specific aspects such as lost data or stolen/hacked information. Approach your trusted technology insurance company to learn more about E&O insurance.
http://www.insureyourcompany.com/importance-technology-eo-insurance-small-business-owners/
Reasons to Get Business Insurance in NJ for Your Starting Company
General liability insurance can protect your business from future lawsuits. This coverage can provide the funds needed for your legal defense or pay for the necessary judgments, making lawsuit claims less expensive for you. On the other hand, professional liability protects you from lawsuits caused by your company’s errors in your product or service. These kinds of policies constitute the basic insurance suite that a small company needs. Having additional coverage can help, but make sure you assess the needs of your NJ business to justify spending for insurance. The important thing to consider is that having the right NJ insurance for your company will never go to waste.
http://www.insureyourcompany.com/reasons-get-business-insurance-nj-starting-company/
Trusted Small Business Insurance Agency Helps Protect Company Assets
The Homeowner Flood Insurance Affordability Act is designed to protect millions of American homeowners and businesses from dramatic increases in their flood insurance premiums. Owners of small enterprises welcome this news as the law makes it easier for them to cover their properties against destructive flooding. Amid this development, a trusted small business insurance agency such as InsureYourCompany.com can help local companies and startups protect their company assets. Small business insurance providers feature useful and affordable products such as commercial property insurance which is designed to secure real properties and equipment necessary for small-scale ventures to operate. Natural calamities pose a significant a risk that enterprises need to shield themselves from since climate change has intensified their impact.
http://www.insureyourcompany.com/trusted-small-business-insurance-agency-helps-protect-company-assets/
Turn to Trusted Companies for Small Business Health Insurance in NJ
Experienced small business insurance firms in New Jersey, such as InsureYourCompany.com, are known to provide comprehensive coverage that would safeguard the interests of businesses such as startup tech firms and software developers. Insurance companies can offer their clients appropriate commercial general liability and commercial property insurance together with employee protection products such as healthcare coverage. Moreover, they can give small organizations professional advice on the types of insurance that would suit their particular needs. While healthcare is one of the top concerns among owners and their employees, business operators cannot disregard the fact that they also need to be adequately covered by insurance policies to protect their interests. Turning to a reputable insurance company can help them get the needed coverage for healthcare and other business concerns.
http://www.insureyourcompany.com/turn-trusted-companies-small-business-health-insurance-nj/
3 Basic Insurance Needs for Small Business Owners
Insurance is something that
small business owners definitely need, but sifting through the
unfamiliar jargon can make anyone’s head spin. What do you need
coverage for? Here are three, put simply:
Insure the Things You Own
First, you need coverage for
your tangible property. This can be your physical store, the
equipment you have, your inventory, and other things you use to run
your business. In case of unfortunate events where these are damaged,
your insurance can help you recover from the loss.
Insure the People Who
Work for You
When you hire people to work
for your business, you are assuming responsibility for them.
Job-related injuries that may befall them, for example, are one of
the things that need coverage.
Insure Against Unforeseen
Events
You may be the most careful
business owner on the planet, but you can never fully control the
things that happen during your operation. Someone may get injured
inside your business premises, your product can cause unintentional
harm to its users, or someone may sue you for negligence. It’s
always a wise move to be prepared for these scenarios.
These three are just some
considerations you need to think about as you shop for the right
insurance policy. Consulting with a professional insurance agent,
however, is still the best way to understand and determine the right
blend of protection you need as a small business owner.
