Tag Archives: Risk

Incorporating Business Insurance in Risk Management ? Even for Small Business

Risk management is an endeavor in which most successful businesses engage to some degree or another. Whether it be a formal procedure developed at the executive level of a large company, or a more intuitive examination performed by an astute small business owner, assessing and dealing with risk in general is something most businesses do as part of their basic planning. No matter who you are, or what business you’re in, avoiding risk management is a risky decision in and of itself.

Why insurance exists in the first place

Of course, no major effort in risk management for a business can really occur without taking into consideration the potential for unforeseen harm affecting your operations. Indeed, this is the purpose of insurance in general, and it’s certainly the reason why business insurance exists specifically.

Are you really engaging in risk management for you’re business if you’re not taking seriously the kind of insurance you have for that business? Probably not.

Risk management for small business?

You can never be too small a business in order to engage in both risk management and due diligence in the choice of small business insurance for your company. The truth is that even small businesses can be seriously undermined or even ruined if they don’t engage in the proper assessment of risk that involves insurance coverage. Unless you’re adequately covered, you simply have not engaged in proper risk management — no matter how small your business is.

Assessing your risk is the first step

When any business engages in risk management, assessment is the first step. You need to know what kinds of risks your business faces in order to take that next step in determining how to in fact deal with those risks.


Transferring your risk is where insurance comes in

Where business insurance comes in is determining just how much of that risk you’re going to in fact transfer to someone else — an insurance company — and how much they’re willing to assume that risk for you. Transferring that risk is obviously one of the more desirable remedies in dealing with risk of any kind. If you can get someone else to essentially assume it for you, without making an unnecessary investment in dollars yourself, then not only are you engaging in smart risk management, you’re engaging in smart business — period.

Insurance companies are like risk management outsourcing firms

In fact, the entire insurance industry exists on this basic premise, doesn’t it? Insurance companies provide insurance so that all businesses can transfer a basic component of their risk assessment to someone else. Insurance companies make money by assuming that risk for you. You make money in properly transferring some of the risk involved in running your business. It’s capitalism at its purest. You really can’t go wrong when business entities engage in mutual profit enhancement, can you?

The insurance component of your risk management efforts is probably the most desirable to address. There are some risks you simply have to assume for yourself, some risks you have to figure out how to minimize yourself, and some risks you have to learn how to eliminate yourself. Those constitute the major remedies after an initial assessment of risk.

The insurance industry specializes in risk management transfer

What differentiates insurance from those other remedies is that the entire insurance industry exists in order to manage it for you. Its risk management outsourcing at its finest and it has literally been fine crafting its skills for hundreds of years. Ideally, things like small insurance exist not only to handle some of your risk management for you, but they exist so that you do it at a cost most favorable to you.

What’s easier for a small business owner? Get the right insurance from a company that offers great coverage at an acceptable fee? Or hiring your own staff to figure it out for you, without the proper experience or knowledge, and without the specific resources specializing in the field? While nobody would consider an insurance company to be a magic pill to deal with risk management, they do allow you to outsource one component of it with business and small business insurance that’s right for you and your company.

Business insurance helps you address basic risk management

Whether you’re a Fortune 500 company, or small manufacturer of baseball bats, risk management is probably a necessary component of operating a successful business. After assessing your risk, you need to someone effectively deal with it. That’s where small business

Car Insurance for High Risk Drivers / SR-22 Insurance

High-risk car insurance has been the topic of debate for quite a while. People who are considered higher risk believe that costs are extremely high while car insurance companies think that these customers make up the largest expenditures and therefore have to foot the largest portion of the bill. While each side have an argument, you actually only worry about getting quality coverage at the cheapest. Often It is possible to get the cheapest rate so long as you understand the basics of high-risk car insurance.

High-risk car Insurance: What’s a High-risk Driver

Understanding how you’re looked at by auto insurers companies could help you get a better deal. Many auto insurers consider any person with the following to be of a highest risk.

* 3 convictions or guilty pleas for traffic violations in a year

* Driving under the influence or Driving while intoxicated conviction

* Hit and run conviction

* Reckless driving conviction

* Automobile negligence leading to a personal injury or death

These are the big ones which will get you on all insurers list of high-risk drivers. You might even consider a higher than normal risk by many companies when you fit the below conditions.

* Have filed a number of claims

* Show recent gaps in auto insurance coverage

* A first time driver

High-risk Car Insurance: Levels of Risk

As we discussed above, there are levels of risks. When you are just a new driver, you won’t be looked at on the same category as anyone who has recently had a DUI. In case you are on the lower rung of the ladder as far as risk, you could probably still get rather cheap policy by simply searching and taking advantage of savings. For example, as a young, new driver, you might be capable of getting a reduction in your policy by having high gpa’s.

If you’re the top of the ladder in terms of risk, things would be more difficult. A recent Drunk driving might force you to obtain what’s referred to as a SR-22. A SR-22 is a form that some states require you to file when you have had a DUI or some other serious traffic offense. Although they vary by state, the form generally offers proof that you have a specific amount of insurance. Several car insurance carriers desire not to deal with customers who are required to file SR-22.

High-risk Car Insurance: Choosing the Correct Insurance Company

Choosing the correct auto insurance company is much more important when you are a high-risk driver. There are many providers that penalize risky drivers more than others and some providers won’t even provide you coverage when your driving history is too irregular. Even so, you will find insurance providers that specialize in high-risk car insurance and you may most likely get better protection, service and prices from these types of insurers.


Folks who need SR-22 insurance can contact the offices of Universal Lines Insurance Services; We also specialize in high-risk drivers who need insurance at the best possible rate. Customers, who have been denied insurance because of their driving record, will get insurance by carriers we represent. 888-546-3760

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High Risk Life Insurance- It Come Down To An Experience Agent

High Risk Life Insurance is generally purchased for two reasons:

1. You participate in hazardous activities or avocations (i.e. scuba diving, rock climbing, vehicle racing, flying as a pilot, etc.).
2. You have a health condition that is hard to insure (cancer, diabetes, heart disease, etc.).

Both of these circumstances mean that you are a higher risk for an insurance company to insure. Because you are a higher risk, your insurance will cost more.

Luckily, there are insurance agencies specialize in higher risk and impaired risk situations.

Just because you have sleep apnea, diabetes, a coronary artery stent, or other serious illnesses, doesn’t mean you should get turned down or be charged significantly higher premiums for whole, universal, or term life. An experienced life insurance agent can help you find higher risk insurance company that will provide you with the benefits and coverage that you and your family need.

An experienced agent with knowledge of higher risk insurance carriers will help you survey potential providers to find the best high risk insurance companies and higher risk life insurance rates.

Most insurers use mortality tables based on 30-year-old data (mortality tables are used to determine rates). Luckily, a handful of others employ “clinical medical underwriting”-an underwriting philosophy which takes into consideration the latest medical advances and lifestyle choices that allow people with health problems to live long lives. This is great news for an insured that has applied with a local agent that may not specialize in risky insurance situations. If you are deemed a high risk to an insurance carrier, you need to deal with an insurance agency that specializes in high risk situation. You agent will be able to discuss possible carriers that will insure your case based on the finding of your interview. Call an agent that specializes in high risk life cases.

Life Carrier Direct was created to provide a “Term Life Insurance Comparison Marketplace” where we can empower consumers by choice and comparison with top Life Insurance Carriers to find the right term life policy in a way that is easy and affordable. We embrace the latest technology available in the industry so that we can get the results consumers need with speed and efficiency

Please visit Http://www.lifecarrierdirect.com to speak with an agent about obtaining quotes for high risk insurance.

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Do Not Take The Risk Of Driving Without Vehicle Insurance!

For those who are still driving their cars without insurance and who do not see the need for vehicle insurance I urge you to continue reading this article. I will be raising a few key points as to why getting vehicle insurance only makes good sense. You will also discover just how simple it is to get vehicle insurance and how you can save in the long run. There is no doubt that by being financially prepared can save you massive amounts of money in the event of vehicle theft, damage or accident.

When we get into our cars and head off towards our destination, many of us do not even give it a second thought as to our safety or the safety of our car. Some people have the attitude that nothing bad will happen to them. And I am not saying that we should be driving around with the morbid thought of injury and accident but I am saying that sometimes we do not realise how much we take our safety for granted. That is until, we do end up with damage to our car, injury to our person or theft. Vehicle insurance does not decrease the likelihood of these incidents happening to you, but what it does do is to provide the financial back up should you find yourself in a situation like. The thing about events such as those I have previously mentioned, is that it happens unexpectedly. One minute you are happily driving your car and the next minute you are not. Not having any type of vehicle insurance to cover the costs of the damage can be a major inconvenience which can also cost you a large sum of money at the end of the day.

There are different kinds of vehicle insurance. There are vehicle insurance which deals with theft, there is vehicle insurance which deals with collisions and then there is vehicle insurance which deals damage. You have to decide what your main concerns are and take out insurance accordingly. If you are looking for vehicle insurance which will cover all of the above, then you will need to get comprehensive vehicle insurance. Comprehensive cover does cost more, but it affords you the surety of knowing you are fully covered.

Once you have decided on the type of coverage, you can get your vehicle insurance easily. You can get online vehicle insurance quotes within minutes and it is free! You simply need to go to a vehicle insurance comparison site, enter your details, as well as the kind of insurance you are looking to buy, and wait a few minutes. Within minutes you will be given a list of vehicle insurance quotes. Now you can choose a quote which is the most cost effective and you will be redirected to the vehicle insurance companies website to get more information as well as to speak to an agent. Do not take the risk of driving without vehicle insurance- it is simply not worth it.

For more information about vehicle insurance, please visit http://www.quantisure.co.za

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