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Commercial Insurance

Our country has seen an increase in mass shootings in recent years, especially in seemingly safe places like schools and churches.  Because churches are public buildings, and often boast open door policies with little to no security, they have become more susceptible to mindless acts of violence.  Do you know if your church has put any safety measures into place so you continue feeling safe while sitting in service on Sunday morning?  Does your church even know where to begin?  Kasmann Insurance Agency would like to share some tips from our top church insurer, GuideOne Insurance.

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When was the last time you heard news about a major corporation suffering from a data breach?  Last week? Today? Big companies receive big media attention, but did you know that 71% of cyber attacks are on small businesses? In fact, according to Industry and Business, 95% of credit card breaches reported by Visa Inc. are from small businesses customers.  It is no longer a matter of if; it is a matter of when your business will be attacked. How would your business recuperate from a data breach costing an average of $36,000, or possibly even upwards of $50,000?

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Nonprofit organizations operate differently than for-profit businesses; therefore, they have different risks and insurance needs.  While all organizations should have General Liability Insurance (often referred to as “slip and fall insurance”), the amounts and types of insurance needed beyond that depends on the work being done, services provided, or people involved.   More >

The premium for certain commercial insurance policies is based on the classification of business and on how much business is done (payroll, sales, etc.).  General liability, liquor liability, and workers compensation rates are initially estimated at the beginning of the policy term.  Once the policy term expires, or the policy is cancelled, the insurance company will conduct an audit to determine the precise exposure and scope of operations.  After the audit is completed, the insurance company will compare their results to the estimated premium paid for the policy term and determine if any further charge or credit is owed.

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Disability income insurance claims have increased dramatically over the last several years. It seems that there are also a large number of claim being denied. Insurance companies claims departments  have been told to “tighten-up.” Claims that would have once been routinely paid are now being denied due to industry trends, misunderstandings, lack of consumer knowledge, inability to contest, and lower returns on investment. So, it is important to look at the company behind the policy when making your decision.  For my money, I would rather go through the underwriting process when I apply and not when I might file a claim and hold my coverage with a financially sound company that has a long history of stability and positive claims payments. More >