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Business Insurance

Benefits Of Business Interruption Insurance

By Business Insurance, Insurance, Specialty Insurance

Continuity is critical in business, and there are few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations. In fact, just one brief business interruption can be incredibly costly for an organization, often leading to serious reputational damages or long-term closures.

That’s where business interruption insurance can help. This form of coverage provides protection against a variety of common interruptions, including natural disasters, equipment damage, and vandalism. The following are some other major benefits of business interruption insurance.

Revenue

In the event of a disruption, business interruption insurance provides coverage for income your business would have earned during a closure period if it had been operating normally.

Rent or Lease Payments

Even if your premises are unusable following a disaster or other event, many leases still require that you make payments. Business interruption insurance allows you to continue making rent or lease payments, even while your business is not operating.

Relocation

In the event that your primary location is unusable following a disaster or other event, you will likely have to relocate in order to remain open and continue generating revenue. Business interruption insurance can cover the expenses of moving your business to a temporary location and may include both moving and rent costs.

Employee Wages

If you are unable to operate, it is likely you will not be able  to continue paying employees. Business interruption insurance can help you avoid losing staff while you’re closed by ensuring that you make payroll. This is especially important, as finding new employees is often more expensive than keeping them.

Loan Payments

If you have an outstanding loan, you will need to continue to make payments even if your business isn’t fully operational. Business interruption insurance will ensure you never miss a payment until you are fully operational again.

Want to Learn More?

Business interruption insurance is designed to give businesses access to the assets they need when they need it most. However, these policies can be complex, and it’s important to work with your insurance broker closely when seeking coverage. To learn more contact us today.

The Importance of Cyber Liability

By Business Insurance

 
 

As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy will only continue to grow. The continued rise in the amount of information stored and transferred electronically has resulted in a remarkable increase in the potential exposures facing businesses. In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, or an ill-advised post on a social media site can be read by hundreds in a matter of minutes, protecting yourself from cyber liability is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.
 
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Seven Insurance Policies for Businesses

By Business Insurance

With so many different types of insurance to choose from, it can be overwhelming to determine what type is best for your business. B+H Insurance, LLC is here to help explain the types of insurance policies available and how they can help protect you, your employees and your business’s bottom line.

Commercial Property Insurance

In the case of a catastrophic event such as a fire, explosion, burst pipe, storm or theft, commercial property insurance compensates you for losses or damage to your building, leased or owned equipment, and other property on the premises. In fact, commercial property insurance can cover items such as furniture, inventory, computers and anything that would be considered necessary for performing normal business operations.

Commercial property insurance is typically purchased as a stand-alone policy or as part of a comprehensive business owner’s policy that includes property and general liability coverage. Commercial property insurance is offered on either a replacement cost or actual cash value basis.

General Liability Insurance

General liability insurance policies typically cover an organization for claims involving bodily injuries and property damage resulting from its products, services or operations. What’s more, this form of insurance can help cover medical expenses and attorney fees resulting from bodily injury or property damage claims for which your organization may be legally responsible.
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How Can You Be Better Prepared for an Audit?

By Business Insurance, Business Tools, Insurance

Audits Don’t Have to Be Scary

Take a look at this video that was designed to help you understand General Liability and Workers Compensation Audits. Understanding the Audit Process can help you be better prepared for future Audits to come.

Click the link below for a helpful checklist to make sure you have everything you need!

Audit Checklist

 

We’re here when you need us most.
Call, email or stop by.
111 Ruthar Drive
Newark, DE 19711
Phone: 302-995-2247
Fax: 302-995-2220
Insurance@BHI365.com

 

 

We Are BHI

By Business Insurance, Employee Benefits, HR Services, Personal Insurance, Safety Services

We are BHI

An independent insurance agency that provides Insurance,
Benefits, Human Resources, and Safety Solutions
to businesses and individuals in
the mid-Atlantic and beyond.

 

 

We’re here when you need us most.
Call, email or stop by.
111 Ruthar Drive
Newark, DE 19711
Phone: 302-995-2247
Fax: 302-995-2220
Insurance@BHI365.com

 

Is Employment Practices Liability Insurance Necessary?

By Business Insurance, Specialty Insurance

From hiring new workers to assigning duties, each of your decisions affects employees in a unique way. Although these actions are critical to running your business, they also create exposures that could lead to costly claims by employees or governmental regulators. Even if they are not warranted, claims for wrongful employment practices can disrupt operations, damage your business’s reputation, hurt employee morale and negatively impact your bottom line.

Thankfully, businesses can rely on employment practices liability (EPL) insurance to protect against a wide range of wrongful employment practices claims, including wrongful termination, discrimination, sexual harassment and retaliation.
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The Importance of Social Media in Business

By Business Tools

It’s safe to say social media isn’t going anywhere anytime soon—millions of people around the world use social media on daily basis. Even more importantly, it has become a daily business function for sales and marketing departments, and a powerful tool for reaching new customers and increasing brand awareness as it has never been easier. My name is Logan Worsh; I have been with BHI for a few months now as a Client Experience Specialist and have been handling their social media platforms. Continuing reading for what I have found to work best during that time.
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cyber liability insurance

Cyber Risks & Liabilities

By Business Insurance, Specialty Insurance

Spear Phishing

“Phishing,” a type of cyber attack in which a hacker disguises himself or herself as a trusted source online in order to acquire sensitive information. It is a common and technologically simple scam that can put your employees and business at risk. However, more resourceful criminals are resorting to a modified and more sophisticated technique called “spear phishing.” This technique uses personal information to pose as colleagues or other sources specific to individuals or businesses.
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Trouble Recruiting and Keeping Talent? Your Skimpy Health Insurance Is a Likely Cause.

By Business Insurance, Employee Benefits

The most important decision your company will make for its bottom line just might be the health and wellness program it chooses.

Annual global health spending is now over $3 trillion — and growing rapidly. A good portion of that is driven by millennials, who have both a strong interest in personal wellness and, thanks to the Affordable Care Act (aka, Obamacare), an 86 percent coverage rate (more than 50 percent through individual plans, their parents’ plans or Medicaid). For those in or entering the job market, health insurance is an expectation.

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New Jersey Enacts Paid Sick Leave

By Business Insurance, HR Services

On May 2, 2018, New Jersey Governor Phil Murphy signed the Paid Sick Leave Act into law. The Act will require virtually all employers to provide paid sick leave to employees, effective Oct. 29, 2018. Under the Act:

  • All New Jersey employers must provide paid sick leave to their employees;
  • Employees will accrue one hour of paid sick leave for every 30 hours worked, up to 40 hours per year; and
  • Employees must be paid for paid sick leave at the same rate (and with the same benefits) they normally earn.

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