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Although business management and performance are the major factors that will determine which contractors survive the downturn in construction, the size of the contractor also comes into play. As a rule, project owners are more likely to continue with larger developments because of their greater value, higher investment, and longer lead time. Smaller projects are easier to cancel, which makes smaller and midsize contractors (with work backlogs between $5 million and $100 million) more vulnerable to cancellation. If you're experiencing losses on a project, your first step should be to deal with overhead, liquidity, problems, and ongoing business concern. It's also essential to communicate any problems to your insurance agent and surety company immediately! Because the surety has a strong financial interest in preventing you from default on your bond, it will leverage its relationship with the bond underwriter to help you work through these difficulties and reach a mutually acceptable solution that will keep you on the job. However, a contractor withholding critical information about a problem situation from a surety would lead to a far different result. Concern about the contractor's deteriorating financial condition - which makes it a riskier bonding candidate - might make the surety restrict its future capacity, leading it to make the contractor either bid on only smaller projects that pose less risk to the underwriter or postpone bidding on all projects until the business can clean up its balance sheet. If you have any questions about working with your surety, please feel free to get in touch with the Bond professionals at our agency

Fraud and embezzlement in the workplace has become an epidemic, costing American businesses an estimated $400 billion a year (6% of total revenues), according to The Association of Certified Fraud Examiners. Smaller firms are particularly vulnerable, because they're less able than their larger counterparts to afford extensive safeguard or to absorb the losses. What's more, one in four workers who rip off their employers have been with the company more than ten years. Employee Dishonesty insurance can protect your business from financial loss due to the fraudulent activities of an employee or group of employees. This coverage is also called Crime Coverage, Employee Dishonesty Bond, Fidelity Bond, or Crime Fidelity insurance. The policy applies to acts by all current and former employees, as well as partners, trustees, and directors, together with volunteers, seasonal employees, and temporary workers under your control. Covered losses can include: 1) theft, robbery, burglary or embezzlement of money, securities, or physical property of the business; 2) forgery or alteration; 3) fraudulent transfer of funds; 4) computer fraud; and 5) counterfeiting cash or money orders. The amount of coverage you'll need varies with the loss exposures your business faces. As a rule of thumb, companies that handle cash and securities, need at least 20% of their annual revenue in Minimum coverage for fraud and theft losses is usually $100,000 and many policies will cover $500,000 without significant additional premiums. You can also set specific coverage levels for depositor's forgery, computer, and funds transfers. Depending on your situation, you can buy Employee Dishonesty either on a stand-alone basis or as an add-on (endorsement) to your Business Owners policy or other Commercial insurance coverage. For more information on protecting your business against light-fingered employees, just give us a call.

Here are some featured markets we thought you might be interested in taking advantage of: Artisan General Liability Insurance, Property and Casualty Insurance Agents Errors and Omissions (E&O), Auto Service Risks Insurance, Commercial Auto Program, Social Services Insurance, Workers Compensation Insurance, Pest Control Insurance, Tow Truck Program

Here are some featured markets we thought you might be interested in taking advantage of:

Here are some featured markets we thought you might be interested in taking advantage of: Healthcare Workers' Compensation Insurance, Artisan General Liability Insurance, Property and Casualty Insurance Agents Errors and Omissions (E&O), Liquor Liability Insurance, Private Client Services Insurance, Tow Truck Program, Cyber Risk/Data Breach Insurance and Workers Compensation Insurance

Spring is a popular time for adding to your home in the form of remodeling or putting up an addition. If you are like many people, you hire someone to complete the job for you. For most people, it is easier and faster to interview and hire a contractor to do the work instead of trying to muddle through it yourself. Peace of Mind With the Professionals  One of the reasons for hiring a contractor to build that much-needed addition to your home or to remodel your outdated kitchen is to ensure that the job is done right the first time. Unless your career requires you to know the latest building codes, it is unrealistic to expect that you do so. Instead you rely on your contractor to know -- as well as follow -- the safety regulations put forth by your particular locality. The Responsibility is Yours Even though the contractor you hired is doing all the work, it is ultimately your responsibility for what occurs with your home. This is not to say that you are in this alone. Rather it is to caution you to be aware of the risks you face if your contractor does not follow the applicable codes when doing the work you authorized. This is one reason to use only those contractors who are licensed, bonded and insured. Protect Yourself  One way to protect yourself is to check for the necessity of permits before allowing the contractor to start working. Request to see the permits if the contractor obtains them for you. Speak with your insurance agent to determine if additional coverage for the work is needed as well.

Medical Staffing Agencies have more responsibilities and risk than the typical staffing agency. These types of agencies are employing nurses, doctors, medical technicians, medical assistants etc. With these types of employees, there are regulations, certificates, schooling, and background checks that these employees need to go through in order to become a nurse, doctor, medical assistant etc.

Placement of insurance agents E&O is a complex challenge that demands expertise. Insurance agents protect others. We help ensure those agents are protected themselves. We use strong market relationships and underwriting insight to deliver the strategic and cost-effective solutions you need to keep your clients satisfied.

Here are some featured markets we thought you might be interested in taking advantage of: GNY Insurance Companies, Hiscox NOW, Mortgage Field Services Insurance, Towing Services Insurance, Wind Deductible Buy Back Insurance, Maritime Workers Compensation, Employment Practices Liability Insurance, Public School (K-12) Liability Insurance