In this podcast we discuss the types of liability exposures that can stop a new business before it gets off the ground. Recognizing that most startup companies do not have extra capital and usually minimal revenues it is important to carefully decide how much insurance is needed and affordable. There are some potential situations that could present major liability exposure for a new business that should be considered from the beginning and we discuss many of them here.

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After a business is up and growing it is important to review the insurance necessary to protect against liability exposures that could present themselves. This is different for a mature company as it grows due to the fact that the balance sheet is now different and there are more assets to protect from potential claims. It is also important to recognize that as a business grows it gets more complicated to manage and control all events in a manner that will prevent claims. An annual review of insurance needs and coverage can help a business to understand and control liability exposures.

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This podcast shows us why using an independent insurance agent can be a good way to determine the best policies, insurance companies and lowest premiums available in the market place today. As an independent insurance agent, you have the ability to shop business insurance to many insurance companies instead of just one which captive agents cannot do. This is an ever changing landscape with insurance companies deciding each year which types of insurance policies they desire to write which can have a major impact on the costs of policies.

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In this podcast, Mr Nesbit shows us how to effectively shop all of our insurance to ensure that we have the lowest possible premiums available. Most of us put our business insurance in place and instead of reviewing it each year we simply keep on paying the bills without reviewing the coverage. Our needs may have changed and the insurance carriers that write the insurance changes from year to year. An annual review is good business.

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This is a lively discussion of the ever increasing costs of health insurance for businesses and their employees. We learn that there are some things a business can do to help control these costs going forward but it will take some effort on the part of business owners and their employees to impact these costs.

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In this podcast we discuss group affinity programs, what they are and how they can help a business or association. The simple fact that a business can join a group with similar concerns within some type of industry or business grouping can help a business grow and share information on their businesses. It also gives the members an opportunity to form a buying group to obtain discounted rates for buying everything from insurance to cars or technology products.

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Chad explains the potential liability exposure that can hurt a business if something bad happens and there is no coverage. Errors & Omissions is a type of exposure that is not typically covered under your general liability insurance. We usually think of E & O coverage as something that Doctors, attorneys and accountants need to have. However is a coverage that all businesses should contemplate such as a trade business: contractor, plumber, electrician or HVAC firm in the instance of participating in the design of a system that ends up not functioning properly and leading to litigation. It should be considered by all businesses as he explains in this podcast.

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In this podcast Mr Cameron and Nesbit talk to us about emergency planning for businesses. They cover the usual fire, theft, hail, tornado and other emergencies that first come to mind. They also discuss what could happen to a closely held business if the owner is suddenly disabled or killed in an accident. We cover life and disability insurance, buy sell agreements and succession planning questions. This podcast if important for business owners so that they can think about the possible risks that could disrupt a business, it’s employees, customers and venders and issues concerning the heirs.

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In this podcast we get a more in depth review of affinity programs and more detail in how to find and use them to control all types of costs of a business including your insurance coverage. For anyone who is interested in this topic and has listened to Affinity Programs I this is a great follow up to show you how to use them to lower your costs.

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