the license records on any agent or broker you utilize. Your state
insurance department may make pending or past disciplinary activity
available, along with records of the companies he or she is authorized
to represent. Many states now make this available online. Go
to the NAIC listings
to find yours.
the financial ratings and state of domicile for any surplus lines
carrier utilized and ask specifically why the carrier was used.
Best's, a leading industry
financial source, now
makes ratings and data available online.
GUARANTEED COST POLICIES:
auditable insurance policies whenever
TRADE GROUP & PROFESSIONAL EMPLOYER ORGANIZATION PURCHASING
larger trade associations very often have the leverage to obtain
business insurance products at sharply reduced rates, and some with
much better insurance terms. Many can save you enough money
to more than offset the costs of membership. "PEO's"
(Professional employer organizations) are still to some extent in
infancy, but represent a promising means of outsourcing the purchase
and management of business insurance.
you lease your building, the owner can provide a waiver of subrogation
which prevents your being sued by his/her fire insurance company
to recover payments to repair damage to the building. (When you
are thought to have had responsibility.) This is normally
available at no cost and is common practice.
can sometimes save premium dollars, but not always. Check
potential loss costs & loss frequency against dollar savings before
you jump at this.