Enhance Your DO Policy With an Appropriate Hammer Clause

There are many different steps you need to consider when it comes to protecting your business and its assets. Though you might understand that the right insurance plan makes a world of difference toward your long-term success, you may not be familiar with some of the specific options available to you. In order to stay shielded from the unknown, you may want to take a moment to learn more about how a hammer clause in certain policies can be useful. When you want to enhance the coverage for your directors and officers, this is an option worth consideration.

What Is a Hammer Clause?

The main point to understand about hammer clause in D&O is that it is structured to handle any claims that might occur between the insurer and the insured. Since such disagreements happen all the time, you want to be certain that you are totally protected no matter what is on the horizon. A quality plan for insurance should address all industry risks, as well as any specifics that are unique to your exact organization. Areas to focus on can include:

  • Workers’ compensation coverage
  • Errors and omissions liability
  • Commercial property liability

Understanding the Options

By dedicating time and effort to researching your options with insurance, you will have a better understanding of which choice is right for you. Take time to look into the details and see what steps you need to take for success.

Preventing Subcontractor Insurance Fraud

Workers’ compensation insurance allows you to take care of your employees if they are injured, and you rely on your subcontractors to provide that protection to their employees. Unfortunately, if you’re working with a new subcontractor you don’t know well, there’s a chance that certificate of insurance isn’t worth the paper it’s printed on, potentially leaving you liable for workplace injuries to their employees. Protect your finances by preventing subcontractor work comp fraud.

Verify the COI and Company

When you receive a subcontractor COI don’t file it away without a second thought. Make sure it’s on the ACORD 25 form, indicated on the lower left-hand corner. Nothing should be handwritten except the signature. Verify that the insurance company information is correct, that the company is legitimate and the company’s rating is an A on ambest.com.

Verify Active Coverage

Besides checking the policy dates on the COI, verify that coverage remains active. Audit your sub’s insurance regularly during a project and before releasing final payment. If necessary, contact the insurance company or ask to be a named insured so you’ll receive notice of cancellation.

Ask for the Policy

Finally, ask for a copy of the policy so you’ll have details on coverage levels and carveouts of which you need to be aware. Make sure the provisions you’ve required actually exist.

Blank COIs are easily available online. Make sure you aren’t the victim of subcontractor work comp fraud by taking an active role in insurance verification.

Adding Attached Equipment to Your Vehicle Policy

As a general contractor, your van or truck is a vital part of your business. It carries the equipment and tools you need to get a job done and get paid. Are you confident the equipment attached to your vehicle is insured?

Be Certain You Are Protected

What happens to an attached toolbox or ladder that gets damaged in the event of an accident? You may have assumed that was a part of your policy, but you better be sure. Insuring permanently attached equipment is important to understand when it comes to protecting your business assets.

What You Should Insure

If you attach work equipment to your vehicle or purchase a new one fully loaded, take notice of each piece in order to protect the overall value. As well as a ladder or toolbox, you can also protect the following in case of damage:

  • Racks
  • Shelving
  • Spotlights
  • Grill Guards

Verify Your Protection

If you are not sure whether or not your permanently attached equipment is included in your original policy, don’t delay another day and call your agent. Verify what equipment can and should be insured to protect against financial loss.

As a contractor, your vehicle is a part of your business. Protect your assets so you don’t lose out on thousands of dollars your business needs.

AXIS_A Guide to DO Litigation

Individuals serving as directors and officers (D&O) for any business can be held personally liable in certain instances if the organization they work for is sued. D&O litigation cost can be astronomical, so it may be wise to consider obtaining some insurance to offset the potentially steep costs.

What To Know

D&O liability insurance covers certain entities and certain people working for them in the event that they are sued. Directors and officers are covered for any personal losses under these policies. Additionally, the entity for which they work will be covered for legal fees and any other D&O litigation cost. Most policies will not cover fees associated with fraud or criminal activity. Typically an organization seeking $1,000,000 will pay between $5,000 and $10,000 in insurance premiums for D&O liability insurance.

Types of Coverage

There are three different types of coverage for D&O insurance. The first type, Side A coverage, covers directors and officers in suits where the company either cannot or will not pay for indemnification. Side B coverage covers the losses of those individuals when the organization refuses to grant indemnification. Side C coverage is also known as entity coverage and provides coverage for the business entity.

Since costs associated with D&O lawsuits can soar sky-high, it would be beneficial to many businesses to consider D&O liability insurance.

3 Benefits of Working With a Local Insurance Provider

There is a difference between the service you can get from a big-name insurance provider and a local insurance agency. Whether you need insurance for a business or want your personal liabilities covered, a local insurance provider offers reliable services with a consumer connection that can’t be beaten.

1. Many Options

Though the office may be local, an insurance provider close to home generally has all of the coverage options you might find with a large, networked provider. You can find a range of commercial or personal insurance needs, as well as a variety of coverages within each category.

2. Personalized Service

Local agents tend to develop better relationships with the clients they see on a regular basis. Rather than being a number, you are a name and an account with needs. Agents who know their clients are better advocates and offer more personalized service when dealing with claims or insurance concerns.

3. Experienced Advice

Local insurance agents have access to the same policies or options as larger providers, giving you the benefit of experience and knowledge in the insurance industry. You aren’t limited by a narrow range of options, and the close relationship you develop with the local agency provides unique insight into your liabilities and recommendations for the best coverage.

Local agencies can be easier to work with when trying to determine your insurance coverage. These organizations offer personalized service without sacrificing policies or options.

How To Write Effective Call-to-Actions for Insurance Websites

Across every market for insurance products, many individual and commercial buyers are starting their search for an insurer online. It’s imperative that carriers and agencies have well designed websites to inspire confidence in prospective clients. Creating a visually pleasing and user friendly online experience has to be a key priority for insurance companies. Here are some key elements of excellent insurance websites.

Load Times

Every type of website has to work quickly. If pages are too slow to load, visitors will move onto a competitor’s site.


Issues with how a site functions will drive visitors away with the same consistency as slow loading sites. Good site maintenance procedures can prevent malfunctions. It’s also important to consider whether a site’s features work optimally rather than just whether they work at all.

Informative Content

One way that people find specific sites for insurance companies is by looking for information about coverage. Including authoritative information can help companies establish themselves as a knowledgeable resource for consumers.

Mission and Values

A website is a great place for companies to convey their core mission. Compelling narratives about a company’s history serving its community of clients can motivate people to connect with someone.

Companies should periodically evaluate how their site is performing. Poor lead to sale conversions may be an indicator that a website needs design work.

Don’t Believe Everything You Hear: Uncovering the Truth About Life Insurance

Everyone seems to have an opinion when it comes to the best ways to manage finances. However, this is a deeply personal area of life where facts should always be carefully weighed before any decisions are made. For example, when it comes to life insurance common myths may keep you from purchasing a policy or steer you toward the wrong type for your financial situation. Here are a few untruths that you should disregard.

Policies Are Complicated

Listen to your friend’s cousin’s sister tell it, buying a life insurance policy is a complicated process. That is far from reality, though. Work with a knowledgeable agent to quickly and easily find the right policy for your needs.

Life Insurance Is Expensive

Some life insurance policies do carry a hefty premium; however, there are also some affordable options. Keep in mind that there are many actors that affect how much you pay for your policy, such as:

  • Your age
  • Overall health
  • Policy type
  • Occupation
  • Lifestyle choices

Young, Healthy People Don’t Need Insurance

There is a common misconception that young people don’t need to worry about life insurance. However, many young families are left struggling to cover expenses after a death. Plus, you can take advantage of lower premiums by purchasing a policy when you are young and healthy.

Many people are misled by the myths surrounding life insurance. Finding out the facts can help you choose a policy that fits your lifestyle and financial needs.

Why Your Fleet Needs Covered

Fleet insurance protects a company’s whole fleet of vehicles. It lets you insure all of your vehicles under one policy rather than separately, and you may either insure all drivers or assign named drivers to each vehicle.

Businesses that lease or own at least two vehicles are eligible for this insurance. The phrase “fleet” refers to a group of cars that is typically between 2-500 vehicles in size but can be any number depending on the insurer.

How Does It Work?

Fleet insurance covers a company’s several cars, whether leased or owned and can be registered in the company’s name, a partner or a director. Payments can be made monthly or annually, depending on the needs of the company, and deals can be discovered on insurance comparison websites or through specialized brokers.

What is Covered?

Fleet insurance, like ordinary car insurance, comes in three distinct levels of coverage. These are the following:

  • Comprehensive coverage – protects you against damage to your own and/or third-party vehicles, as well as injuries to you, your passengers, and third parties in the event of a fault or non-fault accident.
  • Third-party fire and theft insurance – covers damage to third-party cars as well as your own in the event of a fire or theft.
  • Third-party only – covers damage only to other people’s property or cars, as well as injury to others and your passengers.

Because policies differ from one provider to the next in terms of what they allow and don’t allow, double-check your policy for any important limitations, such as personal use, before signing.

Choosing an Auto Insurance Provider

To say that the auto insurance market is competitive is to call a rock a stone. It’s always been a competitive industry, and that isn’t going to change anytime soon. There are so many options, and so many companies offering services, that it can feel totally overwhelming to look for auto insurance. Should you work with an insurance agent? Sign up online? Switch carriers every so often to get a great deal?

Choose Wisely

Byrnes auto insurance, with offices in Dayville & Norwich CT is one example of an agency that truly wants to help you get the best rate. You have a lot of options, and you want the best service and prices possible. You’ll want someone who is knowledgeable and personable, who will discuss with you the finer details of your policy, and who knows how important it is to listen to what you have to say. After all, you are the customer, and no one should try to sell you a product you either don’t need or can’t afford.

Your auto insurance is one of the most important policies you own. Make certain that you are getting the best possible options for your dollar, and choose an auto insurance company that really knows the ins and outs of the market.

3 Common Types of Crime Committed at Work

Crime insurance is designed to protect businesses from financial loss due to various crimes. From small businesses to big corporations, everyone is susceptible to workplace crimes. While offenses like theft and fraud can be committed by anyone, employees are the most common culprits.

The best way to protect your business against major financial loss is to purchase a crime insurance policy. Here are just a few types of workplace crimes that are covered by crime insurance.

Employee Theft

From stealing office supplies to committing embezzlement, employee theft is increasingly common among companies of all sizes. However, small businesses are the most susceptible due to their increased trust and decreased security. It is estimated that businesses across the U.S. lose a whopping $40 billion each year due to employee theft alone.


Most businesses are vulnerable to robbery, whether it’s shoplifters or burglars. Crime insurance protects businesses from criminals who may steal cash, merchandise, securities, or any other items from the company.


Crime insurance protects against various types of fraud such as wire transfer, telephone, and return fraud. Any business with a bank account is at risk of certain types of fraud and forgery. Fraud can be committed by anyone, from employees to customers to complete strangers. The only way to fully protect your business against fraud is through insurance.