With the arrival of the summer boating season, rental companies are preparing for the influx of tourists clamoring to get out on the water. Taking on the business of renting watercraft comes with inherent risks. Weather hazards, craft issues, operator errors and other boaters all have the potential to pose a significant legal and financial burden.
When the craft you offer for rent includes personal watercraft, you require protection designed specifically for these types of boats. Standard boat insurance does not cover sea-doos, jet skis, or wave runners.
Procuring the Right Coverage
Your insurance for your rental craft should cover your business and your customers in case of accidents and injuries. A good insurance policy offers coverage for:
- Hull damage – Repairs and replacements for damaged boats can be costly. If your personal watercraft property is damaged, you need to be sure that your policy protects your investment.
- Watercraft damages – As the owner of a personal watercraft rental company, you are entrusting your property to the care of someone else while they operate your boats. A good insurance policy offers protection in the event a renter is injured, or another person’s property is damaged, while the machine is in use.
- Liability – A good liability plan is necessary to protect your company against accidents and injuries occurring on the premises.
Insuring jet skis, see-doos and wave runners is a special consideration when you operate a personal watercraft rental company. To stay afloat, make sure your business and your customers are protected as the summer season gets underway.
When most people go to a restaurant, they just want to enjoy delicious food and don’t worry too much about how their meal is prepared. Unfortunately, many individuals don’t have the luxury of mindlessly eating anything that sounds good. Because of food allergies and other health conditions, some people must stay away from ingredients that are found in many dishes in the average American restaurant. Now more than ever before, restaurants need to be vigilant in protecting their customers by avoiding cross-contamination.
Common Ingredients That Threaten Restaurant Customers
Even for a perfectly healthy person, ingredients like raw meat, seafood, and eggs can harbor bacteria that may cause illness. It is critical that restaurant employees practice proper sanitation after handling raw ingredients so that bacteria from these foods do not contaminate any other ingredients or dishes. Celiac is a condition that causes severe reactions to any contact with gluten. Any wheat-based product, or even those that contain traces of gluten, like soy sauce, are very dangerous to individuals with celiac disease. Other extreme sensitivities or allergies may include:
Restaurants should be careful to keep these ingredients separated from all others unless they must go into a dish together. Blue Sky Insurance Agency asserts that even the most stringent practices to prevent cross-contamination can leave room for unfortunate outcomes, so having an insurance policy in place to protect against related claims is a good idea.
When your business is the buying and selling of properties, your customers rely on your judgment for a lot of important decisions. Not only do you need to be able to give them accurate information about properties and the positions of each seller, but most clients also depend on your judgment and your assessment of the current marketplace for at least some of their decisions. That makes the right professional insurance for real estate agents and brokers very important to the protection of your business, but which one do you need? Brokers and agents do not need the same coverage options or limitations.
Upgrading Your Business Insurance
According to Highland Risk, brokers require more comprehensive and wide-ranging coverage than agents do. That’s because real estate brokers take on more professional risks than their agents, who are essentially salespeople working under them. Brokers are responsible for the agents under them, shielding them from certain kinds of liability. The exact coverage a broker needs is quite variable, it changes according to their need for property insurance for an office site as well as the size of the team of agents operating under them. In addition to E&O coverage that reflects their role, brokers generally also need to carry general liability insurance like other business owners.
Sometimes construction projects may run into regrettable snags. For example, financial issues may arise when the contractor fails to complete a project on time or meet contract specifications. Fortunately, construction bonds can help mitigate the effects of these types of disruptions. So, what are construction bonds? Simply put, they are a type of surety bond within the construction industry used to protect companies against unplanned interferences or delays. If you’re not familiar with construction bonds, then here are a few things to consider before you begin your next project.
According to https://www.danielsinsuranceinc.com/, Contractor License Bonds are required by the state before you begin work on anything. These bonds ensure that all required licensing is complete before the project’s start date. If contractors aren’t adequately licensed, you may be liable for any penalties, fines or legal action incurred on the site. Contractors must also obtain Payment Bonds on projects exceeding $100,000. This requirement applies to both residential and public projects.
Many other bonds are optional; however, they could still benefit your next construction site. Some of these voluntary bonds include:
- Bid Bonds – ensure the contractor stands by the awarded contract amount.
- Subdivision Bonds – require contractors to begin work on subdivisions appropriately and within existing streets, sidewalks and waste management systems.
- Performance Bonds – guarantee the completion of a project within the specified timeline on the contact.
- Supply Bonds – ensure contractors obtain suitable supplies and materials.
- Maintenance Bonds – protect the project owner from design imperfections and other failures.
According to Kevin Davis Insurance Services, perceived or actual discrimination on the basis of race, color, religion, sex, nationality, familial status or disability is one of the most common causes of lawsuits against homeowners associations. Purchasing HOA insurance is an excellent way to address the risk of litigation. However, HOA board members should also be familiar with relevant regulations in order to avert problems.
What Kind of Accommodations Need To Be Made?
The laws addressing discrimination which most often affect HOAs are those in the Fair Housing Act. According to these regulations, residents may request, verbally or in writing, that reasonable accommodations or modifications be made in order to enable them to access their home and common areas in the neighborhood:
- A reasonable accommodation involves altering or making an exception to neighborhood rules, services and policies.
- A reasonable modification involves a structural alteration.
Changes can be made to the inside or outside of existing dwellings and public spaces. An HOA should seek guidance from its insurers to determine which requests are reasonable.
In most cases, the costs incurred by accommodations are the responsibility of the HOA, while those associated with modifications are the responsibility of the resident. That said, if the modifications are located in common spaces customarily maintained by the association, the cost of their upkeep may be the responsibility of the HOA too.
Given the complex nature of the FHA regulations, it is understandable that they can occasionally lead to complaints and litigation. In these situations, HOA insurance can protect your board from related expenditures.
Insurance for Health Care Professionals
If you work in a medical field, you may have heard that you need allied health insurance to protect you from various situations that can occur at work. If so, you may be wondering, “what is allied health insurance, anyway?”
Occupations Eligible for Allied Health Insurance
Allied health is not designed for traditional medical doctors, who have their own specialized coverage. Instead, it is designed for the millions of other workers employed in the health and personal care professions. Examples include:
- Physical therapists
- Home health aids
- Surgical technologists
- Medical billers
- Dental hygienists
The experts at Huntersure specialize in this type of insurance and can provide a complete list of job titles included in the allied health industry.
Types of Risk Covered
People who work with vulnerable populations need insurance against having their careers ruined by false accusations and against the loss of wages during the time allegations are being investigated. Allied health insurance covers many of the following potential situations:
- Sexual abuse
- Patient injury
- Non-compliance with regulations
- Breach of client confidentiality
- Adverse patient reactions
It is not pleasant to think about being involved in one of the above situations, but having good allied health insurance can make you feel less worried about the possibility.
Staying afloat in the competitive insurance industry requires serious marketing efforts. However, internet advertising can prove to be extremely hard, especially for people with zero experience in digital outreach. For this reason, most dealers outsource these operations to services that offer online marketing for insurance agents.
Get the Website Right
According to Agency Tsunami, getting a professional and user-friendly website is the first step toward a successful internet marketing campaign. The last thing you want is a website that needs a developer to process simple requests, such as adding new blog posts or replying to comments.
Leverage Social Media
Social media ads will put you in front of potential customers for a fraction of what it costs to run TV or radio campaigns. Facebook has the best ad platform in the market right now but LinkedIn, Twitter and Snapchat are also worth a shot. Benefits of social advertising include:
- Improved brand loyalty
- Better conversion rates
- Reduced marketing costs
Use Search Engine Optimization (SEO)
SEO Optimization is a crucial step toward minimizing the cost of acquiring leads. It takes a lot of time and effort to get on the first page of Google or Bing, but the results are worth the trouble. You can think of it as a way to generate high-quality leads passively.
Work on implementing these three steps today. As you do so, turning to the right professionals for guidance will have a positive impact on your insurance business.
Dedicating your time and energy to a cause bigger than yourself is a noble endeavor. Whether you’re a first-timer or a seasoned pro, volunteering in another country can be a little scary. Know what precautions to take ahead of time to ensure you have the best trip ever.
You already know what a nightmare it can be to deal with your health insurance here in America, but what if you were hurt or injured in another country? In these cases, it can be a smart idea to invest in volunteer insurance. These special packages cover you throughout the duration of your trip and can be a literal lifesaver in more dire circumstances. Still have questions? VIS is a great resource to help you get started.
Your immune system hasn’t been exposed to all the germs and diseases that might reside in another country. Check with your healthcare provider to learn what vaccines you need to have before traveling outside the United States.
ATMs in other countries can charge crazy fees for foreign transactions. See about exchanging cash before leaving, or look into what kinds of credit or debit cards don’t charge fees for using them overseas.
Your goal is to have a fun and safe trip, but part of doing this is being prepared. Do your part to ensure you’re in good shape leading up to your departure.
What is a COFR? COFR stands for a certificate of financial responsibility and is required for vessels sailing in U.S. waters. COFRs came as a result of the Oil Pollution Act of 1990 when the Exxon Valdez spilled over 11 million gallons of Alaskan crude oil in the waters of the Prince William Sound.
Who Needs a COFR?
As a protection, all vessels over 300 gross tons who navigate the U.S. waters must secure a certificate of financial responsibility. Additionally, any vessel that is lightering (ship to ship transfer) or transshipping (off-loading) oil in the U.S.’s exclusive economic zone must have a COFR regardless of the tonnage. There are only two exceptions to the COFR requirement:
1) public vessels
2) non-self-propelled barges (must not carry hazardous or oil as fuel or cargo)
All vessel applicants for a COFR must show proof that they have the financial backing to cover any type of liability that comes from water pollution caused by their vessel(s). This financial backing could be from a third party insurer or the company itself.
The US Coast Guard no longer issues paper COFRs. Thanks to the ecofr program, COFR validity is verified electronically and updated daily. The E-COFR program makes application and payment for a new COFR, a COFR renewal, or supplemental COFR easy, secure and accessible online from any computer or mobile device.
The data breach is a problem that all businesses can face. If you do not have insurance coverage for the data breach, your company may be liable for any damages to clients caused by cybercrime or breach. Third-party cyber liability is a crucial coverage and here is what you need to know about it and who should have third party liability.
Who Needs Cyber Liability?
The experts at FGIB describe third-party cyber liability as being designed for software firms and tech startups. Businesses who are in information technology benefit the most. These are businesses that are responsible for their own data security. When you are in charge of security, you need coverage in case of a lawsuit. Sometimes, these policies can be included in an error and omissions policy.
What Is Cyber Liability?
Cyber liability is insurance coverage for businesses that need to keep a client’s information secure online. It is covered in the case of cyberattacks and breaches. Cybercriminals may steal a client’s bank information, his or her identity or medical records.
No matter your industry, third party cyber liability is a crucial coverage. Without cyber liability, you may suffer a lawsuit that you cannot afford. Every business is prone to the data breach. Third-party liability is best for tech companies.