';

Choosing the Best Liability for Your Trucking Business

trucking liability market

Truck drivers are required under the Federal Motor Carrier Safety Administration (FMCSA) to have liability insurance. Obtaining the insurance is easier said than done, given the wide array of options on the modern-day trucking liability market. Keep the following considerations in mind when choosing the best liability program for your business.

Types of Coverage

Some programs are wider than others. Common forms of coverage include auto liability, physical damage, general liability and trailer interchange. These liabilities vary on the specific types of damage they cover, whether that is bodily harm, the vehicle or a vehicle attachment.

Coverage Suitability

Find the right program on the trucking liability market that fits your trucking range and unit type. For example, one program may be better suited for a container hauler working exclusively in California versus a produce hauler who travels through four western states.

Extra Offers

Each program formulates its own unique list of extra offers. They may differ on accepting new versus established businesses. It may be advantageous to have a program free towing included or a specific policy for bi-national drivers.

At its core, navigating the trucking liability market is about finding the program that best fits the business and keeping it safe through the unforeseeable incidents of the future.


A Simple Guide to Cyber Liability Insurance

FGIB

When it comes to cyber attacks, the financial sector is one of the more susceptible industries. The motivation should be obvious—there can be a lot of sensitive and important information on banking company servers. Between a denial-of-service attack and a phishing scam, a private bank, mortgage lender or FinTech firm could wind up inadvertently giving away or losing customer financial records, internal financial data or stock market information. Because of this dilemma, cyber security and cyber liability insurance coverage should be strongly encouraged. FGIB offers this coverage to business of all sizes.

Determine Appropriate Coverage

Financial services companies should stay away from any one-size-fits-all cyber liability coverage. The appropriate level of coverage can be determined by risk and possible overlapping coverage from other insurance policies. When considering risk, companies should consider these four categories:

  • Accidental or inattentive security interruption by employee or vendor.
  • Possible flaw in internal software or hardware that allows for data loss.
  • Intentional attacks by outside agitators looking to cause harm.
  • A webmaster using trademarked material inappropriately or breaching third-party websites, regardless of intent.

Coverage for Losses

If a company is the victim in a cyber attack, there are generally two types of compensation. If the company needs to directly pay expenses surrounding the circumstances of a breach, this is called a “first-party loss.” If the monetary loss is on behalf of a customer, the payout is considered a “third-party loss.”

FGIB has expert insurance brokers ready to work with companies to assess their risks for cyber attack.


The Benefits of Buying Life Insurance from a Local Agency

life insurance in Audubon

It can be tempting to buy life insurance online to minimize time spent on the phone, but buying life insurance from a reputable agency provides several clear advantages to those looking for the most personalized experience. For those living in Southern New Jersey, agencies selling life insurance in Audubon are part of the community and well-versed in the needs of their neighbors.

Working with a reputable insurance agency versus buying a policy online allows you to voice any concerns or ask any questions specific to your unique needs. It also gives you a chance to talk over every option and work with someone who is familiar with your situation. Buying insurance online provides an impersonal experience: you’re risking speaking with someone halfway around the world about buying life insurance in Audobon, New Jersey.

Local insurance agencies are also more accessible. When you’re working with a faceless company or individual broker based elsewhere, they aren’t likely to follow up or get to know you and your family. With a local insurance agency, you form a relationship that lasts for the term of your policy. If your circumstances change, it can be easier to talk to someone you and your family have come to know.


What You Need To Cover Your Business

transit insurance

For many organizations, having the right amount of business insurance coverage can be tricky. Most know about workers compensation and general liability coverage. However, there are other coverage types that you should be aware of that can be of great benefit to your business.

Business Liability

Probably the simplest of business insurance coverages, business liability coverage comes in two parts – property damage and bodily injury. With this type of policy, you’re covered if your business property is damaged or if someone who is not an employee physically hurt or killed as a result of your product or service.

Workers Compensation

If your employees get hurt at work, they will likely expect some form of compensation for medical bills and/or time off at work. There may even be lawsuits involved. Workers compensation insurance will ensure that your business is protected during such an incident.

Commercial Property

Buildings, equipment, and computers can all be covered under commercial property insurance. If your computers are stolen, you can even have coverage for the lost data on those computers.

Transit Insurance

Are you planning on having goods shipped? Whether by land or by sea, there are a variety of transit insurance options to keep them protected against any losses.

If your business isn’t covered yet, now is the time to work with a professional who can help you find the perfect coverage.


Why Hotel Associations Need Crime Insurance

Wholesale resort hotel insurance

Many people walk in and out the doors of most hotels. In addition to the hotel staff, outside vendors and guests also enter the hotel. It is even likely that people who are neither paid nor paying to be there can be found on the premises on any given day. With that many people coming and going, the chance of a crime being committed at some point is great. Wholesale resort hotel insurance brokers recommend including a crime policy in your hotel’s insurance package.

Crime insurance protects hotels from losses resulting from dishonest employees. If an employee embezzles funds, crime insurance may cover whatever monies are unable to be returned. If employees steal from guests, a crime policy, often in conjunction with strong liability coverage, can compensate guests for their losses.

If a guest uses counterfeit money or commits forgery to pay for services, the hotel will probably need crime insurance to get its payment. While hotel security can deter many cases of theft, the possibility of it looms over the daily business of a hotel. A robbery could be a devastating blow to any business that does not have a crime policy to protect against loss.

Wholesale resort hotel insurance usually includes a crime policy. Such a policy helps the hotel association be made whole again.


A Simple Guide to Cyber Liability Insurance

FGIB

When it comes to cyber attacks, the financial sector is one of the more susceptible industries. The motivation should be obvious—there can be a lot of sensitive and important information on banking company servers. Between a denial-of-service attack and a phishing scam, a private bank, mortgage lender or FinTech firm could wind up inadvertently giving away or losing customer financial records, internal financial data or stock market information. Because of this dilemma, cyber security and cyber liability insurance coverage should be strongly encouraged. FGIB offers this coverage to business of all sizes.

Determine Appropriate Coverage

Financial services companies should stay away from any one-size-fits-all cyber liability coverage. The appropriate level of coverage can be determined by risk and possible overlapping coverage from other insurance policies. When considering risk, companies should consider these four categories:

  • Accidental or inattentive security interruption by employee or vendor.
  • Possible flaw in internal software or hardware that allows for data loss.
  • Intentional attacks by outside agitators looking to cause harm.
  • A webmaster using trademarked material inappropriately or breaching third-party websites, regardless of intent.

Coverage for Losses

If a company is the victim in a cyber attack, there are generally two types of compensation. If the company needs to directly pay expenses surrounding the circumstances of a breach, this is called a “first-party loss.” If the monetary loss is on behalf of a customer, the payout is considered a “third-party loss.”

FGIB has expert insurance brokers ready to work with companies to assess their risks for cyber attack.


Cover Your Cargo While in Transport

insurance programs for motor truck cargo

In many regards, the products of a company are at their most vulnerable during transport. For the interstate trucking industry, the roads of the nation can be a dangerous place, even in the best of conditions. At other times, when bad weather hits, accidents can become much more numerous. Insurance programs for motor truck cargo are a company’s best bet for protecting its valuable cargo as it leaves the warehouse and travels, sometimes for thousands of miles, to the next stop in the supply chain.

Policies can be tailored to fit the unique needs of each shipper. The transporter of perishable goods might be wise to get coverage for a refrigeration breakdown. A company that transports chemicals or other hazardous substances might find it worthwhile to pay for a policy that includes road cleanup provisions. Truckers who pass through several states might need coverage that shifts a little with each state boundary. An experienced, trustworthy insurance agent can recommend the best policy for each situation.

It is too risky to leave expensive cargo without suitable insurance coverage. Insurance programs for motor truck cargo can protect a company from expensive losses of products as well as the high cost of a road cleanup. With a choice of deductibles and features, cargo insurance can be an affordable way to protect against major losses.


A Knowledgeable Auto Insurance Agent Can Save You Money

car insurance in CT

An excellent auto insurance agent is worth his or her weight in gold. While this might be a bit of an exaggeration, an experienced agent can definitely save you some money when you are looking for car insurance in CT. There are two main ways the agent can offer you an affordable policy.

The first is by shopping for the best deals for you. Look for an insurance company that has the option of offering plans from many different insurers. In many cases, you can get a nearly identical plan for the same cost by comparing different companies. A good agent can also make sure you get all of the discounts you qualify for. If your driving record is sketchy, the agent can still make sure you are getting the best deal.

The second area a good agent can assist you is by making sure you have adequate coverage. If you owe more on your car than it is worth, then gap coverage might be beneficial. If you drive an older car, having towing coverage might make sense. An experienced agent can help you go over the pros and cons of each option.

Getting the right car insurance in CT could save you hundreds of dollars a year in reduced premiums. Making sure you are fully covered can save you even more.


A Knowledgeable Auto Insurance Agent Can Save You Money

car insurance in CT

An excellent auto insurance agent is worth his or her weight in gold. While this might be a bit of an exaggeration, an experienced agent can definitely save you some money when you are looking for car insurance in CT. There are two main ways the agent can offer you an affordable policy.

The first is by shopping for the best deals for you. Look for an insurance company that has the option of offering plans from many different insurers. In many cases, you can get a nearly identical plan for the same cost by comparing different companies. A good agent can also make sure you get all of the discounts you qualify for. If your driving record is sketchy, the agent can still make sure you are getting the best deal.

The second area a good agent can assist you is by making sure you have adequate coverage. If you owe more on your car than it is worth, then gap coverage might be beneficial. If you drive an older car, having towing coverage might make sense. An experienced agent can help you go over the pros and cons of each option.

Getting the right car insurance in CT could save you hundreds of dollars a year in reduced premiums. Making sure you are fully covered can save you even more.


What You Need To Cover Your Business

transit insurance

For many organizations, having the right amount of business insurance coverage can be tricky. Most know about workers compensation and general liability coverage. However, there are other coverage types that you should be aware of that can be of great benefit to your business.

Business Liability

Probably the simplest of business insurance coverages, business liability coverage comes in two parts – property damage and bodily injury. With this type of policy, you’re covered if your business property is damaged or if someone who is not an employee physically hurt or killed as a result of your product or service.

Workers Compensation

If your employees get hurt at work, they will likely expect some form of compensation for medical bills and/or time off at work. There may even be lawsuits involved. Workers compensation insurance will ensure that your business is protected during such an incident.

Commercial Property

Buildings, equipment, and computers can all be covered under commercial property insurance. If your computers are stolen, you can even have coverage for the lost data on those computers.

Transit Insurance

Are you planning on having goods shipped? Whether by land or by sea, there are a variety of transit insurance options to keep them protected against any losses.

If your business isn’t covered yet, now is the time to work with a professional who can help you find the perfect coverage.