Tags: Insurance Basics

What You Need to Know About the ABCD’s of Medicare Benefits

What You Need to Know About the ABCD's of Medicare

Medicare is the government medical program for seniors. Medicare was instituted in 1965 to ensure that older Americans would have access to the health they needed in their retirement years. You will become eligible for Medicare at 65 and may enroll for Medicare Benefits three months prior to the month of your 65th birthday, during the month of your 65th birthday, and three months after your 65th birthday. Medicare has four parts: A, B, C, D Part A is given to you by the government and covers 80% of your... Read More

Protect Your Business with Employment Practices Liability Insurance

Protect Your Business with Employment Practices Liability Insurance

According to a recent study, more than half of all claims filed for employment-related liabilities are against employers with fewer than 50 employees. Alarmingly, the study also reveals that not even 2 percent of small businesses have employment practices liability insurance (EPLI) coverage. Employment Claims Can Be Costly Employment-related claims can be extremely costly, especially in cases that drag on for years. With a slow economy and increasing adoption of worker-friendly laws, these cases are on the rise—in fact, discrimination claims have increased significantly in the last 20 years. According... Read More

What Happens If I Miss Open Enrollment?

What Happens If I Miss Open Enrollment

It’s open enrollment time for health insurance and other employee benefits.Open enrollment is the time when you can enroll for the first time in your employer’s health insurance plan, change insurance coverages, and add or remove dependents. This is your opportunity to take advantage of important benefits, such as health, vision, dental and life insurance, a health savings account (HSA), and a retirement plan. If you miss your employer’s open enrollment deadline you could lose coverage for you and your loved ones and  be unable to make changes or enroll... Read More

How to Prepare for Your Cyber Liability Insurance Policy

How to Prepare for Your Cyber Liability Insurance Policy

Do you have cyber liability insurance for your business? If you use computers and mobile devices in your business, especially if you store critical company information or personal identifying information or financial information about clients and employees, you need cyber liability coverage. Every insurance policy starts with an application, and cyber liability insurance is no different. While the underwriting process in long-established insurance lines is streamlined, this is not the case for cyber liability insurance. Currently, application forms for cyber insurance are not standard and can be complex—often consisting of... Read More

Considering a Self-Funded Healthplan for Your Company? Here’s What You Need to Know

self-funded v. fully insured healthplans

Are you looking at different options for your company health benefits? Do you want something other than a traditional fully-insured health insurance plan? All group medical benefit plans fall into one of two categories: self-funded or fully insured. The choice of one over the other should not be made arbitrarily. Each type carries its own set of administrative rules and legal constraints.   What is Self-funding? Under a fully-insured health benefit plan, an insurance company assumes the financial and legal risk of loss in exchange for a fixed premium paid... Read More

7 Reasons You Need to Use an Insurance Broker

7 Reasons You Need to Use an Insurance Broker

Do you want to save on your business expenses? Do you want more time to build your business and then enjoy the fruits of your labors? You can save both money and time by using an insurance broker to handle your business insurance needs. When most business owners think of saving money, they assume it means doing it themselves. There are many areas of your business where going DIY can save you money. With business insurance, though, going DIY could actually end up costing you more. More money, more time... Read More

Protect Your Business with a Business Insurance Check-Up

Protect Your Business with a Business Insurance Check-Up

When was the last time you had a check-up? No, not you personally—your business. Just as having a regular medical check-up can help keep you healthy and save you money, a regular business insurance check-up can help keep your business healthy—and save you money. As your business grows and changes, your business insurance needs will change as well. But too often, business owners fail to regularly check their insurance policies to make sure their coverage has stayed current with the needs of their business. If any of the following have... Read More

How Will Your Business Survive A Disaster?

How Will Your Business Survive A Disaster

Disaster can strike anytime, anywhere, and often with little or no advance warning. Here in Colorado, we’ve seen disasters of all types in recent years, from natural disasters like floods, fires and tornadoes, to human-caused disasters like accidents and oil spills  According to FEMA and the Insurance Information Institute, as many as 40 percent of businesses forced to suspend operations due to a natural or human-caused disaster never reopen their doors. Have you thought about the challenges and struggles your business would face in the wake of one of these... Read More

What You Need to Know About Professional Liability Insurance

What You Need to Know About Professional Liability Insurance

Professional Liability Insurance, also known as professional indemnity, malpractice, or errors and omissions insurance, is an essential but often overlooked insurance coverage for professionals in many fields. Professional liability insurance covers liability for damages arising out of professional services, whether from the performance of such services—or a lack of proper performance. This insurance covers you and your business from claims not covered by commercial general liability coverage. Professional liability insurance protects professional personnel against negligence claims made by their patients or clients. Professionals who should consider this type of liability... Read More

Do You Know What You Need to Know About Liability Insurance?

Do You Know What You Need to Know About Liability Insurance

Liability insurance is a must for every business. Liability insurance protects your business from loss should you be liable for damage or injury. However, a single liability insurance policy may not cover every possible type of liability. The basic liability insurance policy that every business needs to have is called Commercial General Liability Insurance. Commercial General Liability insurance protects your business from financial loss if you are found liable for property damage, or injury caused by your services, your business operations or your employees. It also covers non-professional negligent acts... Read More