Insurance 101

As an IT consultant it’s important to make sure your small business insurance protects you against software copyright infringement.

Professional liability insurance coverage is known as a Claims Made and Reported coverage. What does this mean and how does it affect your coverage?

A primary policy is the first policy to respond to a loss or claim. An excess policy is the second policy that responds to the same claim or loss and essentially sits “on top” of the primary policy. Umbrella Insurance is a common type of an excess policy. An Umbrella Policy is considered secondary coverage, meaning that any claim must exceed your primary policy’s limits of liability before the Umbrella coverage kicks in.

Business interruption insurance is one of the most valuable coverages that business owners should have. But it’s one of the most overlooked as well.

Every small business should protect their company with small business insurance. Yet many small business owners are unsure of the type of insurance they need to buy.