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business owner Archives - Horan Companies - CNY Insurance Agency

General TopicsInsurance Terms

What are loss runs?

Question 89 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/s7l1_GpXgQk If you are a business owner, or an employee of one who has the responsibility of handling the insurance, you've probably been asked for these before. To see what loss runs are, and why it's hard to change insurance companies without them, click on this brief video explanation.
November 3, 2017
Business InsuranceWorkers Compensation

Do I need to list non W2 employees on a New York Workers Compensation policy?

Question 78 in 100 Insurance Questions in 100 Days Video Series? https://youtu.be/YVCCAMaWYiw As a business owner, having to figure out who to put on a workers compensation policy and who not to, is probably not your idea of a good time. However, in New York state we have some rules (surprise) and those rules say that if you are paying someone, they'd better be listed. The cleaner of your office, the person you hired for social media, the outside sales person, and more, could end up needing to be accounted for. See this brief video explanation for more.
October 23, 2017
Business InsuranceWorkers Compensation

Do business owners have to be listed on New York Workers Comp?

Question 76 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/GlJl7reOehA As a business owner you might not see a need to insure yourself on a Workers Compensation insurance policy. It boils down to whether you want to cover for lost wages if you become hurt on the job. Insuring yourself will be more expensive and most carriers have a minimum payroll number they use for owners. Check in with us for additional insight.
October 21, 2017
Business Insurance

What is key man insurance?

Question 62 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/PGCTOmrwglY When a small business has an employee that they rely on for their expertise, sometimes the sudden death of that person can be catastrophic. This is why key man insurance is so critical and can be a huge asset to the organization. Watch the video for more.
October 7, 2017
Business InsuranceBusiness Owners Insurance

How does Fire Legal work?

Question 57 in 100 Insurance Questions in 100 Days Video Series. https://youtu.be/G-rXNGJfXEs As a business when you rent space, you are liable for what damage occurs within it. However, the portion of your policy that covers general liability excludes damage done to your specific space. The fire legal section of your policy is what covers your liability to the building owner. Without it, or without enough, you'd be on your own for the cost of damages to your space. Watch this brief explanation for more.
October 2, 2017
Business InsuranceCommercial Endorsement

What is blanket coverage?

Day 53 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/63x-LSo7N9U There are 2 ways you can insure your property: Separate Together While number one is pretty common, number 2 is a little unusual. When we insure our business property and our building on the same policy (typical) sometimes there is an option to put them together. Doing so creates one master amount referred to as blanket coverage. It can all be used on the business personal items, or just the building, or a combination of the two. See the video to learn more.
September 28, 2017
General Topics

Will an insurance carrier pay for legal expenses?

Question 51 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/_8BqrLPZnWY In New York State (like so many others) we face the distinct possibility of being sued. Whether it's our business or us as people. there is never a shortage of people looking to make a buck (deserved or not). That is why your liability coverage is so critical. Take a look at this video to see why it's so.
September 26, 2017
General TopicsInsurance Terms

What’s a Declarations Page??

Question 42 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/6TDWaSmLjY4 The place to see what you are actually covered for exists on your declarations page. This is where you find out how much protection you have (or don't have) for liability, property damage, physical damage, medical payments, and so much more. Your New York insurance policy hinges on the information displayed on these pages. If you don't see a charge for something you hoped would be covered, it probably isn't.
September 18, 2017
General TopicsInsurance Terms

What is a certificate of insurance?

Question 38 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/ZdibS5_zCuQ If you own a business or hire businesses/individuals to do work for you in New York State, then you'll want to get familiar with insurance certificates. These are the proof that coverage is in place, with one caveat. Watch the video to see what that is and how a certificate can work for you.
September 13, 2017
Business InsuranceCyber Liability Insurance

Should a small business buy data breach insurance?

Question 36 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/OJXBNRwyuvE If you have a small business that collects even the least amount of personal information on your customers, then this is a video you might want to watch. Now with Equifax added to the list of serious data breach events, your small New York business could be just a few clicks away from a financial and social collapse.
September 11, 2017
Business InsuranceEmployment Practices Liability Insurance

Should a business owner carry sexual harassment insurance?

Question 30 in 100 Insurance Questions in 100 Days Video Series. https://youtu.be/c9wyxU0saZc As a business owner, you are subjected to all of the missteps of not just yourself, but your employees and anyone else who sets foot on your property. Employment Practices Liability Insurance (E.P.L.I.) is a category of coverage you want to rank at the top when putting together your insurance portfolio. See the video and learn how this important coverage can shield your New York business from lawsuits stemming from sexual harassment, wrongful termination, failure to promote, breach of employment contract, and more.
September 5, 2017
Business InsuranceProfessional Liability and E&O

Are General Liability and Professional Liability the same thing?

Question #8 in 100 Insurance Questions in 100 days! https://youtu.be/QOFZ8fd71pc The primary reason for professional liability coverage is that a typical general liability insurance policy will only respond to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employer's, public and product liability. However, various professional services can give rise to legal claims without causing any of the specific types of harm covered by such policies. Common claims that professional liability insurance covers are oversight, violation of good faith and fair dealing, and inaccurate advice. While many types of businesses will carry this…
August 14, 2017