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What is class code 41668 in general liability?

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What is class code 15062S for general liabilibility insurance?

Class code 15062S typically refers to a specific classification within general liability insurance that pertains to contractors, particularly those involved in the installation and repair of plumbing systems. This classification helps insurers assess the risk associated with these activities, determining premiums based on the nature of the work and the associated liability risks. Accurate classification is essential for ensuring appropriate coverage and premium rates for businesses in this sector. Always consult with an insurance professional for detailed information and guidance specific to your situation.


How much will liability insurance cost for a clothing company?

Business Liability insurance is not very costly, but new clothing companies should be aware of a few factors that impact cost. In general, liability insurance with limits of $1,000,000 per occurrence, sufficient to meet the requirements of many buyers (stores, mega stores, wholesalers, boutiques, etc.) should cost $750 to $1,000 per million of gross sales. If you are a start up, with zero gross sales, expect to pay at least $600 to $850 for a start up policy no matter how much you gross. If you are a start up, interested in making and selling infantwear, childrenswear, or sleepwear of any kind, you need to be aware of the U.S. Consumer Products Safety Commissions requirements for apparel, and flammability testing requirements. And be aware that insurance carriers are very wary of this class of apparel in general and expect to pay $5000 minimum annual premium. I am an insurance agent in the Los Angeles area specializing in apparelinsurance and you can find me through google.


Please explain the difference between a 'for-profit' company and 'non-profit' company?

Non-Profit Companies - These are companies that do not redistribute profits to shareholders or even to the owners. In their company goals, they discuss pursuing their corporate mission (i.e. Making another fundraiser, another public class, something that is for public good). Some examples of these are charitable organizations and most government agencies.For-Profit Companies - These are companies that redistribute their profits to their shareholders (stock holders). These are companies that follow a corporate mission of making money for their shareholders and look out for themselves (more self interest). These types of companies can be public (trading stocks) or privately (solely owned by the owners) held.


What is an aim for a business?

A business aim is a goal a business wants to achieve. An aim is something to do with the general direction of the business. For example "…to offer world class customer service at all times"