The most common way to define a micro business is through the number of employees in the organization. A business with 1 to 9 employees is usually termed as a micro business. Size and scale are also factors used to define micro-businesses. Companies that function as sole proprietorships and earn annual revenue less than $250,000… Read more »
Category: Uncategorized
Asbestos: What You Should Know
By Sue Quimby, CPCU, AU, CIC, CPIW, DAE Asbestos is a group of naturally occurring minerals. Mined since the 1800’s, asbestos was long prized for its fire resistance, durability and ability to insulate. Unfortunately, it is also a powerful carcinogen, linked to mesothelioma and other lung cancers. Asbestos-related lawsuits have bankrupted hundreds of companies. Helping… Read more »
A Note for the Small Businesses Killing It as Amazon Sellers
Over 1.9 million US businesses sell their wares on Amazon. In 2019, 58% of Amazon’s total sales were thanks to small and medium-sized businesses. Today, that number must have increased, due to the lockdown imposed by the global pandemic. Small businesses saw a growth of over 50% Y-o-Y on the platform. The number of small… Read more »
Why Cyber Security Insurance is Essential for Small Businesses
Does your small business accept digital payments? Do you use mobile devices for your work? How about computers? If you’ve answered ‘yes’ to any of these questions, you may be vulnerable to a cyber-attack. If you’re a small to medium-sized business, you’re even more vulnerable. The National Cyber Security Alliance found that 70% of all… Read more »
Alternate Valuation Considerations
By Sue Quimby, CPCU, AU, CIC, CPIW, DAE Proper building valuation is a common concern for agents and their insureds. Proper valuation is important both when issuing the policy to determine the correct premium for the exposure, and at the time of the loss so there is enough coverage to restore the property to its… Read more »
Some Cash Flow Management Tips For Small Businesses
Cash flow management questions keep cropping up for small businesses. It’s a fact of life that many small businesses fail to keep enough cash reserves. This hurts them when it comes to dealing with emergencies and unanticipated problems. Many small businesses also do not pay much heed to cash flow projections. Due to this lack… Read more »
A Roof Over Your Head
By Sue Quimby, CPCU, AU, CIC, CPIW, DAE Having a roof over your head is one of life’s basic necessities. While essential, a roof can also be the cause of claims and problems. The roof is often the first defense against the elements, and a key to the structural integrity of the entire building. Regular… Read more »
A Liability Insurance Primer for Small Businesses
Small businesses often tend to ignore the need for insurance due to the associated cost of insurance or a misleading belief in the low probability of major risks impacting their organizations. However, this misplaced confidence can have catastrophic repercussions for small businesses. It is essential to cover and protect all business assets with the appropriate… Read more »
What Commercial Building Owners must look for in their Insurance Providers?
Various internal and external sources of risks can cause significant damage to business operations. One significant investment businesses incur is real estate. The office or other buildings that are key to business operations have a large share of sunk investments. In businesses like real estate or property development, the commercial building itself is the business!… Read more »
What Tech Start-ups must know about Insurance?
The United States is the largest tech market globally with presumed market size of $1.6 Trillion in 2019. Disruption is a fact of life here and startups come and go at a dizzying pace. In fact, the industry has the highest failure rate too, estimated at 63% in 2018. So, for those looking to enter… Read more »