In some types of work, such as providing professional advice or services, the results of an error may not come to light until well after the project is completed. An insurance retroactive date helps the policyholder by addressing claims arising from past work. The date also helps the insurance company by limiting how far back it will go in providing coverage.

Companies must have adequate business insurance to protect them financially when unexpected incidents occur. A crucial component of an effective business insurance strategy is what’s called business owners insurance—also referred to as a business owners policy or BOP insurance. Having a BOP in place can help shield your company from the costs associated with many types of business risks. Here, we’ll walk you through this essential form of coverage and tell you exactly why it’s important for you to have business owners policy insurance as a part of your overall insurance strategy.

it’s a common practice and effective strategy in many cases for contractors to hire subcontractors (sometimes referred to as 1099 workers) to handle certain aspects of projects.

In order to be well-informed about business insurance, it’s important to understand the unique industry language. Below are some of the more common terms used by business insurance companies.

If your business owns or leases vehicles, you need commercial auto insurance. It’s common for owners of small businesses to believe that their personal auto policy will cover their work cars or trucks. However, that may not be the case. To ensure your company is properly protected from liability or losses related to the use of vehicles for work purposes, you’ve got to have commercial auto coverage.

If you run a photography company, you understand that your business faces a wide variety of challenges and risks. From storms or accidents that damage expensive cameras and lighting equipment to clients who trip and injure themselves in your studio and sue you, it’s easy to find yourself with a large financial burden.

As a cosmetology business owner, you’re focused on providing excellent service to your clients. But at the same time, you have to address “big picture” issues, like protecting your business financially with insurance.

Construction businesses and contractors face a wide variety of risks at job sites and beyond. An incident can be very costly if they don’t protect themselves with adequate business insurance.

If you’re a transportation company owner or decision-maker, you surely do all you can to operate your business safely. However, companies like yours face many risks over which they have no control. Bad roads, inclement weather, and the people with whom your vehicles share the road probably come immediately to mind.