4 Compelling Reasons to Get Insurance as a Manufacturer

life insurance gaps

Manufacturing should be just about the lowest risk activity going, right? Transforming materials into objects should be a very easy thing to carry out according to plan, in theory. In practice, there are lots of hiccups and disasters that can scupper a manufacturer’s best-laid plans. It is important to take out comprehensive insurance in the manufacturing industry. Here are just a few of the reasons why.  Material Inconsistencies Can Cause Huge Disruption A manufacturing operation is reliant upon the materials you can get ahold of. No matter how well-trained your…

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What does windshield insurance cover?

windshield insurance damage what is covered

Know what coverage you have – and need – in the case of cracked glass, hail, and similar damage. Many drivers don’t realize how important windshield insurance is, simply assuming that it’s on them to pay for it out-of-pocket if the glass breaks.  Make sure you know where you have coverage and when to file a broken glass claim. Windshield insurance is an important part of an auto policy. It will decide how much you will need to shell out if your glass becomes broken, pitted or cracked.  Repairing or…

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NY Gov Cuomo announces insurance fraud action against opioid manufacturers

Insurance fraud action - Pills - drugs

The state department of financial services filed the charges against internationals Allergan and Teva. New York Governor Andrew Cuomo announced that the Department of Financial Services (DFS) has filed insurance fraud action against international opioid manufacturers Teva and Allergan. The DFS’ filing claims that the firms engaged in dubious marketing strategies for their drugs. The insurance fraud action alleges that Teva and Allergan had engaged in fraudulent marketing and promotional campaigns. Those campaigns, said the filing, misrepresented the effectiveness and safety of opioid drugs in order to broaden the opioid…

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Is makeup artist insurance really necessary for your one-person business?

Makeup artist insurance - professional makeup application

There are many factors to take into consideration, including local laws obliging you to buy coverage. When your small business consists of just yourself applying cosmetics for people heading to important events, you may wonder if makeup artist insurance is truly necessary. Before you decide that it’s not a necessity for you, it’s important to know your local regulations. Depending on where you live, you may not legally be required to purchase makeup artist insurance. In other areas business liability coverage require it by law. Be sure to check your…

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Hotels may recoup some coronavirus cancellation losses with parametric insurance

Parametric Insurance - Hotel

Event organizers have been cancelling and delaying due to fears of COVID-19 spread. Hotels with a new type of parametric insurance launched by Lloyd’s of London last year may fare better than other players in the events industry as coronavirus concerns spread. Other players, such as event organizers, may not fare as well as this coverage won’t reach them. The parametric insurance coverage compensates hotels when there is a drop in revenue per available room below a certain established point due to circumstances that could neither be predicted nor controlled.…

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Coronavirus insurance losses span several industry sectors

Coronavirus insurance losses - vendors wearing masks

COVID-19 is affecting businesses and consumers with various types of coverage to protect them. Coronavirus insurance losses are could prove to be quite high, as the industry starts to take a look at how many of its sectors could be implicated. The illness has already disrupted the lives of millions by infecting tens of thousands of people. China has already experienced significant economic implications from COVID-19 as many large businesses including Disney’s parks in Shanghai and Hong Kong, Starbucks, McDonald’s, Apple, Pizza Hut, and KFC have all closed locations there.…

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US lawmakers aim to stop DNA test results from access by insurance companies

DNA test results - DNA - Gene - Cell

Millions of Americans are using services to examine their genetic backgrounds. Over 26 million people across the United States have used voluntary services to obtain DNA test results. Now, lawmakers are moving to protect those same consumers against a federal legal loophole. The legal loophole would permit certain insurance companies to connect customer genetic data. Florida lawmakers have already launched the first step to shut that loophole. The goal is to protect consumers from being required to provide their DNA test results if they do not want to. Using genetic…

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