Commercial insurance is insurance for a business and other commercial ventures. It is an important investment, especially in protecting a business from possible loss caused by unfortunate and unexpected circumstances.
How do you use indemnity in a sentence?
The double indemnity policy paid twice the face amount for accidental death.
The creditors sought an indemnity against the company to force it to pay its bills.
Some federal agencies have indemnity against legal claims and lawsuits.
Who offers malpractice insurance for tattoo shops?
You'll need to shop around in your the State or province in which your Tattoo Shop is located.
Tattoo shops pose a unique risk to insurers. Many companies will consider them a high risk business so you may have to make a lot of calls before you find coverage.
One Market that may be able to provide insurance coverage for you could be Lloyd's of London. Try looking for an agent that has access to London Markets.
Who insures commercial trucks and equipment when they are being rented?
If you mean U-Haul type (private), then it is the renter through their auto insurance.
If you mean a business like a Budget or Siva type, then it is the business that is renting that usually provides the insurance. this would be through the business insurance (i.e. the insurance on the building(s)/property and against theft etc).
I f a company leases cars and trucks for use with the business, they must carry "fleet insurance". It is a blanket policy that covers all of the vehicles and the drivers MUST have their own car insurance and that is to protect bthe company and the leasing conpany.
What type of insurance does a stunt person need?
The first and foremost policy the stunt man need is Personal Accident policy to safe guard against his personal safety vis a vis monetary support to his family when he will be no more in case any eventuality. Along with this,a life insurance policy would be added safeguard.
How much does tattoo shop insurance cost?
They all cost different ammounts
Are a general contractor's liability insurance premiums based on what they pay sub-contractors?
As far as the distinction for subcontractors costs, i.e. materials vs labor, I have always had my clients rated off of their subcontractors labor payroll. If your subcontractors do not have there own liability insurance this will be picked up at your year end audit and you will pay a significantly higher premium for them than you would have had they carried their own insurance.Various CGL premium rating methodsThe insurance company that I've had experience with charges for both: 1) payroll of employees, and 1) Total Cost of sub-contracted work, if any.
But keep in mind that the "rate" charged per $1,000 of either the employee payroll or Sub-Contracted Total Cost is vastly different.
For example, suppose you are a General Contractor with employed carpenters. Your rate per $1,000 of payroll may be $39.45, but your rate for the Total Cost of sub-contractors is only $0.58 per $1,000.
There may be differences, but I think that industry wide employees are based on Payroll and sub-contracted work is based on Total Cost, BUT this assumes that you've done a proper job of documenting that the subs are truly sub-contractors, e.g. certificates of insurance for both General Liability and Workers' Compensation. Because lacking documentation will result in the Total Cost of sub-contracted work to be picked up and charged for as employees. Thus an unexpected large audit billing for the prior term insurance policy.
What is PLPD auto insurance?
The initials PLPD stand for Public Liability and Property Damage and which is basically the same as bodily injury and property damage (BI and PD) liability coverage. The necessary conception of public charge in terms of auto insurance is it would cover you in the occasion that your car causes damage or passing away to a third party and property damage is if your car costs someone else's assets.
This short form of P.L.P.D. is usually used by a human being, regularly from Michigan. When they are stating they have a "bare bones" automobile insurance, though the insurance type it is referring to has been out of date for nearly 30 years in Michigan. In the early 1970s MI changed over to a no-fault scheme with different insurance necessities.
What is a life cycle policy?
Systems, processes and procedures are all used by the staff responsible for policy processing. Here, new policy processing includes all functions from new policy data capture, through underwriting and rating to policy issue. Policy maintenance wraps the policy change and endorsement steps and extends to renewal, cancellation, reinstatement etc. Management, statistical and regulatory reporting are components too.
Would a commercial policy cover losses due to inability to oversee work if a contractor became terminally ill while working on an addition?
More than likely the contractor's insurance policy would not respond as his inability to complete the job is not a covered cause of loss on his liability form. There is a way to protect this exposure, however. Prior to awarding a contract to perform work by a contractor you can require a performance and payment bond. The insurance company will pay the money necessary to hire an alternative contractor(s) in his place to guarantee that the job will be completed. It is important to note, however, that a bond does not work the same way as a traditional liability policy. Where a traditional liability policy will indemnify the injured party subject to any applicable deductibles, a perfomance and payment bond requires the bonded entity to indemnify the insurer once they have met their obligation to the party holding the bond. In other words, the contractor will have to pay back the bond company any money paid to to insure the job is completed. This requires stringent underwriting and the disclosure of much financial information and the contractor's work load, often times requiring the contractor and spouse to individually indemnify the insurance company.
Where do you find commercial automotive liability coverage?
The foregoing answer seems not to align with the scope of the question, so I offer this as assistance. Initially, because insurance companies provide insurance on a state-by-state basis, you must ensure that the insurer upon which you decide is authorized to transact insurance in your state. You must also start the transaction with an insurance agent or broker (sometimes both called "insurance producers") who are licensed in your state to transact property and casualty insurance. You are best served by a producer who specializes in or at least has a solid background in commercial vehicle coverage as there are substantial differences between it and personal lines insurance. There are many insurers that issue this kind of coverage and you will have many choices, not only as to company, but also as to the scope of coverage that you buy such as coverage limits, deductibles, and other factors. While price (premium) will probably be a factor for you, the financial stability of the insurer is also an important factor. This can be investigated through various financial rating services that specialize in measuring insurer financial strength; the producer will be familiar with them. Also, you have to be concerned with the claims process of the insurer in the sense that claims are handled efficiently and fairly. That is not to say that all claims get paid-because the language of the policy controls, but you do need to get an idea of customer satisfaction with the company that you are considering. One way to do this is to contact the State Department of Insurance (Consumer Services Division) to determine the level of complaints with the insurer's claims processes.
Do you need liability insurance for a cleaning service?
Commercial Liability Insurance It may not be required by law, but it could be a good idea to carry some liability coverage, a minimum of $100,000 in case of an accident, injury or property damage to another party (usually your client) resulting from your operations or completed work.
It will most likely be a contractual requirement of any sophisticated or government clients. The cost differential between $100K & $1M of coverage will be minimal - strongly consider the higher limit.
Where can you obtain bonding and insurance for a repossession business?
Repo Business Insurance You can also contact me! I represent an Industry driven Program that was designed to package all of the coverages that are required by the major lendors. The hard coverages to acquire through your average broker are the wrongful Repossession and the Drive away coverage. This is a national program and writes as an admitted carrier in all but 5 states. Feel free to contact me with any questions that you may have i will be happy to help you out. My contact info is Michael@glbins.com You are required to have wrongful repossession, commercial liability and auto insurance, as well as a dishonesty bond in most states when operating a repo business. Most insurance companies provide both bonding and insurance. You best bet is to go with an agent that you are familiar with or one that was given as a referral by a close friend, relative or business associate. If you are new to the insurance world, call your membership organization (if you belong to one) or your local chamber of commerce for a list of names of reputable agencies. Shop around from there. Make sure all quotes that you receive are provided to you in writing. Here is an additional opinion from another FAQ Farmer:
- Most schools that offer licensing of insurance and sorts would be the best place to call, they will tell you where you can get them and they are not motivated by price.
On a Builders Risk policy what distinguishes protection class 1-8 or 9-10?
In insurance, we like to say that the difference between PC 1 and PC 10 is how many people are watching your property burn! The truth is that the number correlate to population densities. PC 1 is a major urban center and PC 10 is wide-open country. On any property policy the distinction between PC 1-8 and 9 and 10 has to do with Fire Protection. 1-8 Means that you likely have a fire hydrant (or qualifying suction point) within 1,000 feet or less to your property AND a fire department within 5 miles (of paved road). PC 9 means no hydrant or suction point, but you still have a fire department within 5 miles. PC 10 means you have none of the above. ------------------------------------------
To further clarify the above information, fire protection class is determined by ISO (Insurance Services Office) - a national organization that sets loss costs, rates, publishes standardized policy forms and conducts inspections to determine the effectiveness of local fire departments and building codes. Unfortunately, your protection class is not something that be negotiated with the insurer....
How do you get insurance for a day care center?
What kind of insurance do you need for a retail store?
There are many ways to package insurance but most retail stores are eligible for a BOP, short for business owners package. Busienss owners packages combine many of the coverages you may need including property coverage for your inventory or building, and liability coverage in case someone was hurt on your premesis or injured by product you sold.
If you have employees you will also need work comp insurance. If you deliver product you will need commercial auto and cargo insurance.
Retail shops who vend high risk products are ineligble for BOPS, so all of these coverages need to be purchased separately.
What insurance do you need for an auto repair business?
This Commercial Lines Policy is the appropriate insurance coverage for an Auto Repair Business and is widely available through most commercial underwriters.
Just contact a local agent that offers commercial insurance in your area.Auto repair businessIt's important to make certain your policy covers:
Products/Completed Operations Insurance for all completed work you perform on vehicles.
Personal and Advertising Injury Insurance - In case you slander another firm in your advertising.
Medical Expenses Insurance - In case a patron is injured on your premises.
These coverages are all usually provided through a Commercial General Liability Insurance Policy.
Best of luck with your businesses. Remember to compare quotes so you get the best prices and the best plan to meet your needs.
Is a tattoo shop uninsurable?
Tattoo shops are considered high risk businesses due to the potential for injury to customers from dirty needles, rashes, bodily injury and numerous other reasons. Therefore not a lot of companies are willing to insure a risk of this nature.
You can due a search on the internet for each of the following:
Tattoo insurance quotes. Tattoo insurance program. Specialty risk insurance. High risk business insurance. Excess and Surplus Lines Insurance - these types of insurance companies insure high risk businesses such as tattoo shops.Answer
My tattoo and piercing studio in Alabama seems to be uninsurable as well. Like you, I just want slip & fall insurance, as my attorneys assure me that my waiver and release is ironclad. If you have any luck finding an insurer (short of joining the APT or APP) please let me know.Answer
Absolutely NOT! I have a program for tattoo and piercing shops. Have been writing them for more than 12 years. More than 500 throughout the country.
Absolutely NOT!!! I have been writing a program for tattoo and piercing shops for more than 12 years contact me.Answer
Hi, I dont think tattoo shops are uninsurable. You may not be able to find any common insurer since the business you are doing is a high-risk business. But there are many specialized insurers who deal with high-risk businesses like that of yours. I am sure you may be able to insure your business with them. However, depending on the severity of the risk involved in your business, the premium that you may need to pay may also vary (might be higher).Answer
I own a shop in NYC and although it is a very high premium, we are fully insured by a top name company. Nationwide Insurance is our carrier. You do need to be fully certified by your local Health agency and have some sort of professional licence too. try them out i have had them for over 7 years now.
Does insurance cover damages from a termite infestation?
Pest control is considered part of a homeowners expected and usual maintenance routine.
Pest control service companies offer "service warranties" to their clients that have regular corrective or preventative treatments performed to the structure. There is usually an upfront charge for the initial service to correct or prevent infestation and then there is an annual fee to keep the service warranty in place. There are different types of service warranties offered by different pest control companies. One type offers re-treatment only, another offers treatment and repair of damages should infestation occur or re-occur. These service warranties are subject to several terms and conditions.
What if the insurance company is no longer in business?
I am sorry for you and your mother's loss. I hope you are doing okay.
Take a look at the life insurance policy itself. There should be a phome number and address of the life insurance company stated somewhere on the policy.
You can contact the life insurance company and ask who is handling the servicing of your life insurance policy. You can also ask them what the cash value of the policy is and if the policy is paid up full.
If the company information is not available on the policy then contact the department of insurance in your state and asking them if they have the contact information for your life insurance company.
Do a search on the internet for the department of insurance in your state.AnswerIn Minnesota, insurance companies are required by law to contribute to a fund established just for such situations. In Minnesota, at least, a life policy will always be paid, no matter what.
Different states have different guarantee mechanisms. Minnesota does not guarantee that a policy with a value above $500,000 will be paid. But most policies are paid because the various State departments of insurance will step in and sell the assets of the failing company to another in order to fund as much payment as possible.
Who would insure a hot dog business?
Almost any carrier would insure a hot dog stand for liability or property, but only specific carriers will insure mobile food vehicles. Work with your insurance broker to get the coverage you need, they can probably get quotes from multiple carriers.
Does liability insurance cover equipment rental?
Liability insurance does not cover the property value of the rented equipment, but your liability insurance may cover damages resulting from claims of the use of the equipment.
Example, you rent a forklift and accidently crash it into a truck you are loading. The truck owner sues you. The liability policy would probably cover the damage to the truck or any injuries caused during the accident, but would for sure not cover the damage to the forklift.
Here are several opinions from FAQ Farmers: * Commercial General Liability insurance cannot cover equipment rental in the case where the insured has rented equipment. The 'exclusion j' under the coverage A states that "property owned, rented or occupied by the insured" is an exclusion under "Bodily injury and Property Damage Liability Coverage". Also, exclusion j also specifies that "property loaned to the named insured" is also excluded. * You are wrong...gl does cover the use of such equipment but does not cover if stolen, etc.
What insurance do you need for a woodworking operation?
If you have employees, Work Comp is often required as well if you are doing work specifically for other entities.
Is it Medicare fraud for a company to bill commercial insurance companies a higher fee-for-service than they are billing Medicare for the same service?
Insurance companies negotiate rates for services at the best advantage to them. Companies with larger groups get the best rates becaues they have more economic leverage. Medicare is the 900 pound gorilla in the insurance world. So the short answer is no, it is not fraudulent. The reason is each insurance company will pay at their own negotiated rate regardless of how much the provider charges.
Do you need a wet ANSUL system to get the best rates?
Check out this site.
Wet Ansul (Cooking Extinguishing Systems) are required by NFPA codes, and none of the standard insurance companies that I represent will cover commercial cooking without having the wet extinguishing agent. You might be able to attain a quotation from a "non-standard" company, but it will cost you more.
Are there carriers writing general liability for residential general contractors who do shingle roofing and vinyl siding and sub out their labor?
There are many companies writing this type of liability insurance, although depending where you are in the country it can be a very limited number of choices. As I always recommend, working with an agent that specializes in this field can make the process much easier.