Insurance Insights

Should an accident or incident occur, you will need to have information readily available so you can make a claim through your small business insurance provider. Most business insurance companies provide policyholders with an insurance card, but knowing how to navigate it can be helpful.

Business insurance is the best way to protect your company from unexpected risks and the different things that can occur. There are a wide range of insurance policies that will cover different risks like crimes, liabilities and property damage. However you shouldn’t just purchase the insurance policies and then keep paying premiums without giving them a second glance. Once a year is a good amount of time to review the policies and make any necessary changes.

A common misconception among new businesses and existing ones is that there is one formula for choosing business insurance that works for all businesses. However, your business is unique, so your risks and need for protection will also be unique.

While it was recently announced that the 33 states for which the federal government would be running their Affordable Care Act-mandated health insurance exchanges would not be proceeding with the small business marketplaces as originally planned, those states that are running their own appear as though they will do so.

The mandate in the Affordable Care Act which states that all businesses with 50 or more employees must provide health insurance coverage to their workers has drawn considerable criticism in recent years, and now some companies that fit in with that designation say they would rather pay the fine that comes with not doing so than foot the bill.

Although there is now a good deal of uncertainty about the future of implementation of various aspects of the Affordable Care Act, one recent decision that will specifically affect small businesses is now believed to have relatively minor negative impacts on these companies.

Many small business owners have a lot to consider in the course of their day-to-day operations and this is particularly true for those looking to expand their companies going forward. However, before doing so, it may be vital to assess the needs these enterprises have as it relates to their various types of insurance coverage.

With the economy showing positive signs toward recovery in the past couple months, small business owners in Massachusetts are feeling more confident.

With the employment situation and housing market expected to continue to improve, economic growth could accelerate in the second half of the year.

Consumer spending is expected to rise markedly in 2013, which could lead to additional business at small retailers. With more consumers shopping at retailers, these companies might want to re-consider their liability insurance needs, as a single fall by a customer could lead to a costly lawsuit.