Building Coverage pays for direct physical loss to the covered building or buildings including completed additions, fixtures, permanently installed machinery and equipment. Is your insurance organization prepared for disaster?
Building ordinance or law coverage is a specific type of insurance that provides protection in the event of needing to rebuild or repair property caused by enforcement of ordinances or laws. Top underinsurance risks agents need to talk about in 2021
Business income coverage is a type of commercial property coverage that covers from financial losses due to unexpected events that disrupt regular operations. Getting the most out of contingent commissions?
A Businessowners Policy (BOP) is a comprehensive insurance package that combines property and liability coverage for small businesses. These policies are tailored to suit the needs of eligible businesses, offering unique advantages. BOP programs are available through organizations like the American Association of Insurance Services (AAIS) and the
A business registration at the Department of Revenue is a business tax account application. A business registration at the Secretary of State is the process of registering an entity for a certificate of authority to transact business in that state. Newspaper publication requirements Certificates of authority & secretary
A C Corporation is the most common corporate structure, also known as a general corporation. A C corporation may have an unlimited number of stockholders. It is usually chosen by companies planning to have more than 30 stockholders or large public stock offerings. A C corporation pays tax
An Agency Management System (AMS) is software specifically designed to address and streamline the workflow of insurance agencies. The AMS typically handles customer relationship management, policy management, billing, claims processing, document management and reporting or analytics. How to optimize your insurance policy checking process
A person or business that contracts with one or more insurance companies to sell insurance and provides customer service. Agents represent their insurance companies in case of a dispute with the insured and receive a commission for each policy they sell. Differentiate your insurance agency with disruptive selling
An amendment is a formal legal change to the existing provisions of the policy. They typically address the articles of incorporation/articles of organization, name of an entity or change to the capital stock structure. Data security: The NAIC model laws
A report due to the Secretary of State office usually every year (a few states are biennial) that updates the business entity address, officer information and where applicable the shares information. Annual returns: When and what to file
