How to Find a Surety Bond Issuer

If you have a new contracting business, you may be uncertain as to how to find a surety company in New Jersey. As you have probably learned, the ability to bid on high-paying jobs is contingent upon being able to post surety bonds, also known as contract surety bonds or performance bonds, on a timely basis. Read on to find out how and where to obtain these bonds when you need them.

Surety Bond Issuers

The term “surety company” refers to the actual issuer of the bonds, i.e., the insurance company that underwrites them. These surety companies are often large property and casualty companies with departments that specialize in the issuance of surety bonds.

Sometimes contractors will refer to their insurance agency as their surety company, although technically the agency is an insurance producer, since they produce business for the insurance companies. Either way, you will need to find an insurance agency that specializes in this line of business since insurance companies do not normally deal with contractors directly. Therefore, for your business to be able to compete, you need to line up a good insurance agency ahead of the time.

By choosing an insurance agency with in-depth expertise in the complexities of contract surety bonds, you will have access to the right surety company in New Jersey when your next job requires a bond.


E and O Risks Addressed

Liability in accounting takes many forms. A competitive industry like accounting generates an atmosphere where full-time positions might be filled without proper vetting of a candidate, leading to loss. There are also independence liabilities that occur when firms have close relationships with clients. Despite all of this, potential damage caused by errors and omissions remains the most common type of risk associated with accounting.

This type of liability in accounting is also common in professions such as real estate and law, and even in insurance itself. It has to do with mistakes such as typos or bookkeeping errors, or the omission of data due to either oversight or the poor organization of documents.

How do you know if your organization needs this type of coverage? The short answer is that you almost certainly need it. If you deal with important client information in any way, such as financial documents, covering potential damage caused by mishandling should be a high priority. Errors and omissions risk mitigations are usually the primary features in an accounting business policy. This is because they provide a venue other than the law in which to recoup a major operational loss and mediate disagreements.

Protecting against one of the major risks in the accounting business is not as simple as you might think. Fortunately, there are skilled agents who can help you out through a thorough analysis of your business and its needs.

What Clifton Insurance Can Offer Your Business

When it comes to owning a construction business, you face a wide number of risks each and every day, whether it’s with fallible equipment, lack of judgement on part of your employees or defective materials and products. This is why having insurance for your company is a must, regardless of what kind of job you’re looking to take on. Clifton construction insurance can provide your business with everything it needs to operate safely and legally under a wide spread of conditions, and offer you and your business a huge number of advantages and benefits, such as:

  • A deep knowledge of your industry and the various threats involved in it. Clifton has been in business for over a decade and has been active in over 27 states in this period. They’ve been building an understanding of construction companies over this time and can cover any operation without a hassle.
  • They cover business autos as well as the materials and equipment you use on the job.
  • They provide crucial surety bonds that are imperative to the operation of your business throughout a variety of challenges.

These are just a few of the key benefits which Clifton construction insurance can provide your business with over the years that can really make a different. Speak to a professional to really find out how these services can affect your business during upcoming projects.

Protect Your Business With Professional Liability Insurance in Indianapolis

People make mistakes, and in today’s business world most errors are unforgivable and land companies in court. It might seem a bit over the top to sue someone else for committing an error or omitting important information where needed, but those filing don’t see it that way. Doctors have malpractice insurance and contractors are licensed and bonded. For professionals, protection against such lawsuits comes in the form of Errors and Omissions insurance. If you offer a professional service to your customers, such as architecture, engineering or surveying, it would serve you well to add an additional layer of protection over your business with professional liability insurance in Indianapolis.

Liability coverage will shield you against negligence claims that allegedly caused the suing party financial damage by helping cover the expenses of your defense counsel among other things. Legal fees alone can be devastating to any professional firm, but smaller ones are hit harder in particular. E & O insurance will also protect your company’s assets and help to keep its reputation intact, which you’ll need to secure future business. Some projects require E & O coverage prior to signing on with the professional. If you already have professional liability insurance in Indianapolis, you’ve just opened the doors to more business opportunities for your firm while protecting it.

How Will PEO Insurance Benefit Your Company?

As a professional employer organization (PEO), you offer a needed service to your clients. When they are able to outsource workers’ comp, payroll, training and employee benefits, it takes the pressure off of their company. The pressure, however, is then put on yours. Because of the risks you face, you need a proper PEO insurance policy. The following are some ways in which a policy will benefit your company:

  •  Legal Fees – If you are involved in a lawsuit because a client believes you did not provide them with the services they requested, your policy can help to cover the legal fees. This could include filing fees, attorney fees and a variety of other expenses you were not originally planning on.
  •  Settlement Fees – No matter the type of lawsuit, it’s possible the settlement could point in favor of your client. In such a case, you will often be responsible to pay a settlement to the client. Proper insurance coverage will step in to help you make this payment.
  •  Repair Costs – If your property was damaged due to vandalism or fire, a policy with the right coverage will help you afford the repairs. This could be essential to keeping your business running after unforeseen circumstances.

As you can see, there are some major benefits you can experience with the right PEO insurance policy. Contact your agent to learn more about the options you have and get covered today.

Does Your Business Really Need Cyber Security Insurance?

When Target had its customers’ data breached, the story made headlines. Thousands of customers were at risk for having their information stolen. What didn’t make headlines was that the breach came through one of Target’s vendors. A hacker wormed its way through a smaller company to get to the larger corporation. Small businesses are at risk for having their information stolen too. That’s why Indiana cyber security insurance is so important in today’s marketplace.

Customer and employee data is very sensitive. Your business is at risk for being compromised through the internet. This could potentially devastate your organization. First, there are the financial concerns. You have to notify customers, provide them with credit monitoring and find the breach. If there are losses associated with the breach, your business could get sued. And you shouldn’t forget about the PR costs, because your reputation might be at risk too.

Indiana cyber security insurance makes sense in today’s world. It’s no longer just the criminals that break in through your front door. They come through the internet and this gives them a whole new way of stealing from you. Protect yourself with an insurance plan that gives you peace of mind. Be proactive in managing the data which has been entrusted to your business. Don’t think it can’t happen to you.


Why You Need Employee Liability Coverage

Most companies become acquainted with the workers compensation insurance requirements in their state fairly quickly, since coverage is mandated from the moment a business has one or more employees. What is easier to overlook is employee liability coverage, which is just as important, and which provides for the coverage of costs for medical expenses and lost work time relating to bodily injuries and accidents that are not covered by that basic workers compensation policy.

Liability Coverage for Staffing Agencies

If your company manages the staffing needs of other businesses, then this coverage becomes integral to your operation. You need coverage that includes any work site your employees are assigned to, and that also works worldwide. That makes your needs slightly different from those of other companies, and also more vital—after all, having employees is your business.

Bundled Coverage

For the best and most robust insurance coverage, find a provider who can meet your needs as a staffing provider by bundling together all your specialized and industry-specific coverage, including:

  • Employee liability insurance
  • Employment practices liability
  • Asset protection
  • Hired non-owned auto policies

When you have a partner whose offerings anticipate the needs of your business, then you know you and your employees are both protected, wherever the job happens to take them.

Understanding the Need For Cyber Liability Insurance

It’s very annoying when your own personal computer and data gets hacked. Imagine for just a minute that your business computers and data got hacked. How would you even begin to address all the affected customers and cover all the costs associated with the breach? Your business has sensitive data which if shared might cost you your reputation. Carmel cyber liability insurance is the answer.

When you purchase insurance, you not only get protection for your assets against the expense you will incur, but you get proactive help in monitoring and protecting your computers against data breaches. Even if you don’t have a full-time IT person, you can certainly implement suggestions that your insurance company makes to protect customers’ sensitive data and your own finances.

Even with all the anti-virus software, businesses are still at risk. Address the unseen dangers of hackers to your business. Don’t think that because you’re small, no one would want to get into your data. There’s too much at stake to let your sensitive customer and employee information be compromised. Check out Carmel cyber liability insurance to have the peace of mind that you’ve done everything you can to ensure that your computers and information is safe. You’ll rest better each night having a plan.

Types of Temporary Staffing Insurance

If you run an agency that places workers with corporate clients, chances are you see hundreds of resumes and conduct numerous interviews. It is easy to feel overwhelmed with the sheer number of applicants for the positions you are trying to fill. Many prospective employees are prepared to take temporary positions that may lead to permanent employment. The popularity temporary employment for both workers and clients has led to a significant rise in the involvement of staffing agencies, and it also makes the need for temporary staffing insurance more urgent.

You do not want to be held responsible for injury or damage caused by someone you placed with a client. To make sure this doesn’t happen, invest in temporary staffing insurance to protect you from various types of liability. A policy may cover bodily harm, damage to property, monetary loss and other problems. You may also find insurance that protects your agency in case one of your workers behaves abusively or engages in criminal activity.

The screening process is vital to ensure that every worker you place has the qualifications needed to do the job. However, sometimes there are unexpected events that can lead to mishaps. Make sure you have temporary staffing insurance so you can place workers with clients and have peace of mind.


Commercial Business Insurance Policy Options

Understanding Austin commercial business insurance options should not be complex. If fact, there are coverage plans that protect nearly every aspect of your organization, from natural disasters to employee injuries. Some coverage is required by state laws and others by landlords or lenders. Obtaining the right amount and type of insurance for your business will help avoid coverage gaps when you need protection.

Minimum Coverage Options

Flexible insurance policy options simplify obtaining minimum coverage to comprehensive protection depending on the life cycle of your business. Your business is exposed to risks from day one, even if you don’t have any employees. The basic coverages you should consider from the beginning include:

  • Property Insurance
  • Business Auto Insurance
  • Crime and Fidelity Insurance
  • Workers’ Compensation Insurance
  • Commercial General Liability Insurance

Certain industries and jobs require specific coverages because associated risks all outside the protection of basic liability coverage. Many business owners realize they need more than the basic coverages provided by most commercial business insurance policies.

Additional Insurance Options for Added Protection

You can custom tailor your insurance policy with additional options, such as umbrella, spoilage, employment practices liability, life insurance for business owners, bailee and transportation and cargo insurance. Talk to a trusted insurance agent to learn more about Austin commercial business insurance products.