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hoa insurance market

Attention Homeowners’ Associations: Seek Insurance

As any home wants to protect its assets and family inside, a homeowners’ association should seek to protect its association and residents. The HOA insurance market is there for organizations to protect people and assets alike. It is the job of an HOA to comply with any state laws when it comes to insurance. Like any insurance coverage, it’s important to understand which types of coverage are necessary for HOAs.

Types of Coverages

With unique needs, homeowners’ associations may need the following coverages:

  • Crime insurance
  • Directors and officers liability insurance
  • Cyber liability insurance
  • Workers’ compensation

Of course, finding the right coverage plans are important. Look for customizable coverages where you can choose what works best for your community.

Find a Broker

Finding a good insurance broker may seem difficult at first. Your first tip is to research and have some understanding of what it is that you are seeking. Then, look for a broker with a strong reputation and long history in the community. The more experience, the more committed you can guess a business has been. High quality insurance includes different coverages, great customer service and competitive premiums.

When it comes to the HOA insurance market, all homeowners’ associations need to utilize it in order to protect their association, residents and assets.

cyber security training for employees

The 3 Best Practices to Follow When Training Employees for Cyber Security

Are you trying to train new employees to carry out your company’s cyber security protocols? Apply these fail safe rules to your training regimen to avoid breaches later.

1. Password-Protect Wifi and Connected Devices

Standard cyber security training for employees should always introduce the network’s password protection system and how each device connects to that system. This means that the wifi and person employee devices should be set up with a secure password. Here are a few helpful pointers to set up secure passwords.

  • At least 10 characters
  • Use a random letter or number pattern, no words or names
  • Add a combination of lowercase letters, uppercase letters, symbols and numbers
  • Include a two-factor authentication code for resets
  • Change the password on a set schedule
  • Delete the password each time an employee quits their position in the company

2. Familiarize Staff With Phishing Scams

The best way to oversee cyber security training for employees is to teach them about phishing scams. It can be quite common for an employee to accidentally provide sensitive information to a phishing scammer via email. Often the email will depict an urgency or threat to the employee to send sensitive information or password information their way.

3. Maintain Cyber Security Insurance Protocols

Breaches may go undetected for years after a client relationship ends. Cyber security insurance cannot protect losses or damages caused by breaches after the insurance is canceled or if any employee fails to secure their computer system or files properly.

insurance for California boats

3 Myths About Boat Insurance

Insurance policies are complex and without a professional to guide you, insurance for California boats may be difficult to understand. There is a lot of confusion regarding boat insurance and whether or not it’s necessary. To help answer some of the questions you may have, here are three myths and the truths behind them.

Boating Insurance Covers Everywhere

Most boating policies cover a specific area where you boat the most often. Usually, there is a range around your typical area where you can boat and remain in your coverage area. If you venture past that, then you may not have coverage.

Homeowners Insurance Covers Boats

Even if your boat is on your property, it doesn’t mean that it’s covered. Just as your home insurance may not cover your car, it also might not cover your boat. Even if it you received some coverage from your policy, odds are it’s void once you take it off your property.

Boat Insurance Is Too Expensive

Boating does come with its share of costs. However, when it comes to insurance for a boat, there are ways that you can reduce your insurance premiums. If you have a high credit score and a great driving record, you can receive discounts.

Hopefully, these myths change what you know about insurance for California boats.

mortgage broker insurance requirements

Mortgage Broker Insurance: What Coverage You Need

As a mortgage broker, you help bring together separate lenders and real estate buyers. You’re the one responsible for finding the right mortgage loans for clients. While the business might be profitable, there are also risks involved. If you don’t pay attention to the risks, you won’t be able to protect yourself against them. This is where the mortgage broker insurance requirements.

Auto Insurance

If your employees use vehicles to run business errands, then you need to have business auto insurance. These policies will cover any property or bodily injury from a collision. You may even choose to add vandalism or theft to your policy.

Professional Liability

This is the most important coverage you should ask for. Also known as errors and omissions insurance, it is a policy designed to protect you from mistakes. If you have a client that loses money due to one of your decisions, you may be liable. This makes E&O one of the important mortgage broker insurance requirements.

When it comes to insurance requirements, check with providers about the types of coverages offered. Every business has its own specific needs and circumstances to consider. As a mortgage broker, you want to be able to focus on profit, rather than worrying about whether or not you are covered.

New York E&O

Benefits of a Solid E&O Policy

There is the potential for some type of loss in almost every business. Sometimes these losses occur as the result of an inherent risk, such as when the price of a stock goes down. Sometimes, however, these losses occur when a mistake is made by a person representing the company. In these instances, New York E&O insurance can help save the company from a huge financial setback. Errors & Omissions (E&O) coverage handles both legal costs and settlements. It is good for the business and their customers.

If a customer experiences a financial loss as the result of an error on the part of a business or from that business’s failure to perform a necessary function, the customer may file a lawsuit. Even if it turns out that the claim is unfounded and the company is not at fault, the act of legal defense itself can cost thousands of dollars. An E&O policy can cover the company’s legal costs.

Knowing that a company has good E&O coverage can be comforting to the customer as well. It lowers the risk to the customer. A New York E&O policy tells customers that, if an error is made, they won’t have to foot the bill of recovering from the loss. If you want to ease your customers’ minds and protect yourself and your company from the costs of liability, consider E&O coverage.

Five Tips to Manage Fast Growth in Your Small Business

Small businesses account for over half the workforce in the nation. A small business growing too fast doesn’t have to be a cause for concern. A little growth management can help you thrive.

Hire the Right People

Take time to hire the best people for the job. Your team is the face of the company impacting every aspect of the business.

Adapt to Change

With growth comes the need to adapt to change. Being willing to try new ways of doing things helps you be a more effective leader and help the business expand.

Keep Customers a Priority

Customers provide the capital the business needs. Keep them a priority as you expand by continuing to offer the same level of support and experience they are used to.

Mentorship Helps

As an entrepreneur, the days are long and lonely, but they don’t have to be. As the company grows, it’s a good idea to find a mentor to help answer questions and guide you as you grow and expand the company.

Hiring More Staff

With business growth comes more staff. Beyond hiring staff full or part-time, consider hiring temporary or freelance workers to test new or short-term positions without all the additional overhead.

Understanding why the business is growing is a great place to start. There are dangers and risks of a small business growing too fast, but these are five ways to help you manage that rapid change.

Attorney malpractice insurance

Attorney malpractice insurance typically protects law firms from risks that general commercial policies don’t cover. As with any specialized practice, there are inherent risks to practicing law that won’t come up in other businesses.


At times, clients do sue lawyers. Sometimes, this is a disgruntled client. Other times, this is due to errors or negligence that leads to loss in a case. Malpractice insurance helps cover these costs and legal fees. Even if you did make a mistake, your insurance policy still covers your legal fees and damages you may owe.


If you run into a case with a disgruntled client, you may have to deal with slander. Often, this costs money to try to clean up. Not to mention, if you need to take action against someone committing slander against you or your firm, you’ll need the funds to do it. Some policies have added protections for these costs.

Breach of Contract

Some insurance policies protect against problems involving breach of contract. When you have to start dipping into your personal finances to deal with legal disputes, it’s costly, especially without insurance.

When it comes to attorney malpractice insurance, it’s important to understand why it’s necessary. Without a greater understanding of the risks, you may not see the importance.

Texas workers’ compensation agent

Questions to Ask Your Insurance Agent

You are interested in purchasing a workers’ compensation package, but the multitude of options out there can be confusing. A great Texas workers’ compensation agent can help you sift through the details to find the plan that works best for you and your business.

The first question you should ask is “What does a workers’ compensation policy cover?” Discuss what you need with your agent. If, for example, you have employees who work in another state, it is important to know to what extent the policy you are discussing will cover them should an accident occur. Ask about the process for filing a claim, including your responsibilities and the responsibilities of your employees. This helps your agent match you with the policy that will serve your needs the best.

Another question to ask is “What are my cost options?” If you have a past claims history, ask your Texas workers’ compensation agent how that can affect the price of your coverage. Find out if there are other benefits that are covered at no extra cost so that you get the most out of your premium, and ask if there are any programs or training you can complete to reduce your rates.

Your workers’ compensation package should work for you. It is important to find a policy you can afford that provides all the coverage you need.

target cyber

Businesses at Risk for Cyber Attacks

It is likely that you take standard security precautions to guard your business, but is it enough? The digital world continues to evolve, and information is more connected and accessible than ever. While this has provided numerous advantageous and made many tasks more efficient and convenient, there are new challenges that many businesses must face. By knowing if the nature of your business makes you a target, cyber attacks are easier to protect against.

Types of Risk Factors

There are many businesses that have valuable information that may make them attractive targets for a cyber infiltration. If your business falls under one of the following categories, it may be practical to consider upping cyber security.

  • Public administration
  • Recreation and entertainment
  • Education
  • Retail
  • Restaurant and hospitality
  • Information technology
  • Construction
  • Real estate
  • Healthcare

A common factor among all these businesses is that they typically have a high volume of clients that willingly provide information that is private or financial in nature. Because of that, these businesses must be even more diligent.

How To Combat It

There are many ways to prevent a cyber attack but it is a threat that is constantly evolving with modern technology. Luckily, by being proactive by having strong cyber insurance, and keeping employees up to date with regular educational opportunities that target cyber attacks you can keep your business running smoothly.

California marina insurance

How to Determine the True Cost of Boat Ownership in California

Owning a boat or yacht is a dream for many Americans especially those near lakes and the ocean. The price of the boat is completely within your control, but not all costs are. How much you pay for the boat depends on whether it is used or new and what repairs it needs if any. In addition, you want to look into the cost of California marina insurance, state taxes, storage costs and registration fees.

Valuable Protection

California marina insurance may be cheaper than in hurricane-prone areas. The average cost is about 1.5% of the insured value of the vessel. However, it offers immeasurable value in the event of an accident covering property damage and bodily injury.

Necessary Costs

The state of California requires boaters to hold a license, register the boat and pay taxes. Unless you own your own dock, you’ll have to pay for mooring, a trailer for transport and winter storage. Take into account additional items such as safety items, gas, maintenance and navigation.

Owning a boat is more than just smelling the salty sea spray and feeling the wind blow through your hair. Protect your vessel and yourself with California marina insurance. See where you can minimize costs to get the most out of your boat. Each day out on the water is an opportunity for adventure.