Professional liability insurance also known as “errors and omissions” or “practical liability” insurance) is an important risk management tool for many professionals. Suppose you’re a healthcare professional, lawyer, accountant, engineer, consultant, real estate agent, or any other sort of professional…
Cyber risk could be considered a frontier area among the many areas of risk businesses face. While the nature of the threat has yet to be fully understood, being targeted by a cyberattack is all but inevitable. Unfortunately, small and…
Your homeowners insurance declaration page, often called the “dec” page, summarizes the essential information about your insurance coverage. This document is critical as it acts as proof of insurance for mortgage lenders and gives you a quick overview of your…
No matter the nature of your business, you must take measures to safeguard against potential risks and liabilities, which could include lawsuits. A comprehensive business insurance package often includes general liability coverage, which protects against a wide range of common…
In short, yes. Having a flood insurance policy is imperative! Flooding is the most common natural disaster in the United States, and Michigan is no exception. The Federal Emergency Management Agency (FEMA) estimates that there is a 26% chance of…
What is Medical Loss Ratio? Medical Loss Ratio (MLR) is the percentage of premiums an insurance company spends on member care, claims, and administrative expenses that improve healthcare quality. What is the Medical Loss Rebate? The Patient Protection and Affordable…
Cybercriminals create new advanced social engineering tactics and target small and medium-sized businesses. For example, the FBI estimates that cybercriminals stole more than $28 billion through email fraud from 2016-2020, with an average loss per incident of more than $150,000. Social engineering fraud involves…
As a homeowner, it’s important to have a solid understanding of your home insurance policy. One aspect that can be particularly confusing is the difference between insurance-to-value replacement cost and market value. In this article, we’ll define these terms and…
When your homeowner’s insurance policy renews, there are a few factors to keep in mind about the replacement cost of your home. First, you may see an increase in your replacement cost from your carrier this year. So, we are…
Most of us are aware that we should not openly share our passwords with anyone and should avoid reusing the same password for multiple accounts. There are also precautions like having a strong password, using an email address as your…