The Effects that Cheap Business Insurance Can Have on Your Company

Every so often will be asked by startups and even established companies: “can you get me cheap business insurance?” At first I’m sort of offended that someone would ask me that, but then I remember that it’s not the customer’s fault for thinking that “cheap is good” – it’s actually the insurance industry’s fault. The insurance industry has been commoditizing insurance so much over the past ten years – especially auto insurance that it’s hard not to think that a priority of any type of insurance is that it has…

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Senate Health Committee passes SB 1431 with the praise of Insurance Commissioner Jones

California life Insurance Commissioner Dave Jones

Insurance Commissioner Dave Jones has announced the passage of a bill for the regulation of stop-loss coverage to small businesses. Jones has given his applause for this change to the California insurance industry, as the state Senate Health Committee passed SB 1431, which places a minimum number of aggregate and individual attachment points and which bans the exclusion of workers on the grounds of health status during the sale of stop-loss coverage for self-insured employers of 2-50 people. The bill passed by a 5 to 3 vote. It was authored…

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Chubb Forms Alliance to Address CEOs’ Personal and Business Risk Needs

WARREN, NJ, February 16, 2012 – The Chubb Group of Insurance Companies has formed a strategic alliance with Vistage International to help private company CEOs address personal and commercial risk management needs. As part of the alliance, Chubb will provide Vistage members with risk management education and access to an array of products and services tailored to their needs. “A strong risk management program, supported by Chubb’s high-quality insurance products and loss control and claims services, can help protect our members and their businesses from the unexpected,” said Jeff Werderman,…

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Unemployment insurance rates spike in Alaska, Governor balks at current law

The Alaskan Department of Labor has issued notifications to businesses throughout the state letting them know that they will be paying more for unemployment insurance next year. The new rates have yet to be reviewed by the state’s insurance regulators, but insurance companies claim that higher rates are necessary to ensure that the state’s unemployment trust fund remains solvent and that insurers themselves have to recover from high unemployment rates. Governor Sean Parnell argues that the rates are excessive, as the state’s trust fund holds more than $234 million and…

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