Some Keys to a Successful Insurance Advertising Campaign

The basic goal of any advertising campaign should be to cost-effectively reach the largest possible audience and attract new customers, and in the insurance market, growth is mostly accomplished through new leads. If done correctly, insurance advertising can be a wonderful investment; if done poorly, it can merely become a huge waste of time and money.

The Internet has created a plethora of opportunities through social media sites like Facebook, and networking tools liked LinkedIn, which allows professionals to showcase and manage their professional identities. Making use of these sites will both, allow users to follow and keep up-to-date on changes in the industry and put a face on the people they may be doing business with. LinkedIn will also allow others to endorse the talents of people with whom they are connected.

Know the target audience

An advertising campaign should be geared toward a particular niche market. Don't make the mistake of creating generic ads that don't speak to, nor grab the attention of potential customers. Figure out what type of customers are being sought out and make sure the ads created speak to them on a personal level. Posting them on A Facebook page created for the company will allow visitors to "like" the ad as a show of support and show the company what is and isn't working.

Talk about the company's creative advantage

Highlight the aspects of the company that give it an edge over the competition. There's nothing wrong with creating a clever ad, but it should also acknowledge specific benefits of the featured product or service. Doing so delivers value to potential customers.

It is important to establish an image

Image counts when it comes to advertising and promoting a business. By building a consistent image the business will make an impression on prospective buyers.

Many of the best insurance advertising tips are available within the community setting and its various resources. These may include:

• Special interest groups
• Professional clubs or organizations
• Local business conferences, and
• Seminars aimed at confronting the challenge of advertising

A good way to gain advice is through an experienced agent or colleague, but it's not necessary to rely on this avenue to launch an excellent campaign that truly improves business. Insurance agents are likely to grasp the importance of understanding important things like demographics and creating a strong message to relay to prospective buyers. Social network makes this kind of interaction smooth and efficient. Also being open to new ideas is likely to lead to creativity in the resulting insurance advertising effort.

Larry Neilson is the owner of Neilson Marketing which specializes in strategic insurance marketing solutions for MGAs, wholesalers, carriers, agencies, vendors and brokerages.

Article Source: http://EzineArticles.com/?expert=Larry_A_Neilson

Article Source: http://EzineArticles.com/7509367

Understanding the Different Captive Solution Options

For those not familiar with the term, "captive insurance" is used to describe an insurance company that exists for the limited purpose of insuring a sister or parent corporation. Typically, a large corporation with an extremely high cost to insure owns an insurance company as a captive solution. In order to save on these costs, the company funds their own private insurance companies. In turn, these companies write policies for the parent or sister company.

Establishing a captive can be tricky

Not every country or state provides for the establishment of captive insurance companies. To establish a captive, a location for that company must first be found. Then, after determining if the laws in a particular state permit a corporation to insure from that location, then the process of establishing the captive company can begin.

Certain rules and regulations apply

Each jurisdiction regulates its captive companies. While there is a common misconception that jurisdictions outside of the United States are somehow less regulated, on the contrary, these other nations have put in place a number of regulations for establishing banks and insurance companies in recent decades. Nowadays the insurance board at any jurisdiction will need to approve an application for any company. It will only be approved if the owners have large enough capital sums, typically in the millions of dollars, and a board of directors qualified to administer a captive company.

Types of captive insurance companies

Each jurisdiction will also govern the types of captives available. In general, there are five types available. Depending on the type of captive chosen, costs may go up or down. However, the least expensive captives are the least functional, while those offering the most function will come with higher costs:

1. A single parent captive is set up to insure the risks of its parents and affiliates exclusively. It will have a lower capitalization requirement than other forms.


2. Multiple participating companies set up an association captive; the purpose is to insure each company. This can be cost effective since the companies can pool their resources, but it can also present a conflict of interest if there is any dispute in the future over claims.


3. Various companies jointly own a group captive as well, but these companies have no association with each other. They simply come together for the sole purpose of forming this company.


4. An agency captive insures not only the parent companies but also the clients of the company. This structure often has the highest level of requirements since it services third parties.


5. Finally, a rent a captive combines an agency captive and a single parent captive. Rather than being wholly owned, it has the unique distinction of being only rented, for an annual fee. The renter pays to obtain the administration and charter for a temporary period.

So there are several different ways in which to set up captive solutions depending on the need of the organization. Deciding on the best option for a particular organization is the first step in creating a viable solution to insurance risks and concerns.

Richard L. Hunt is an Insurance Agent for Caitlin Morgan Insurance Services in which they are located in Indiana. Caitlin Morgan specializes in Captive Solutions, Nursing Home and Assisted Living Insurance and Worker's Compensation.

Article Source: http://EzineArticles.com/?expert=Richard_L_Hunt

Article Source: http://EzineArticles.com/7512612

Assisted Living Facilities Insurance and Disaster Preparedness

When a disaster of the magnitude of "Superstorm Sandy" strikes, nursing homes and assisted living facilities need to have insurance as well as a plan in place for those residents who often require more assistance because of their age and physical disposition. These facilities should have some type of emergency preparedness checklist in order to assist residents and get them to a safe place if the situation requires such action.

In the event of a disaster, fire, emergency or any other condition that may jeopardize the health, safety and welfare of residents the facility shall take appropriate action to protect residents and to remedy the conditions as soon as possible. This checklist is designed to ensure that healthcare facilities are well prepared and also able to shelter in place, and remain self-sufficient during a variety of emergencies.

Emergency preparedness training, planning, and assessment

1. There should be documentation of contact with the local emergency coordinator to determine local disaster risks and community-wide plans to address different disasters and emergency situations. Conduct an analysis of the facility's potential hazards, including:

• Severe weather
• Fire
• Loss of utilities
• Flooding
• Work place violence or terrorism
• Severe injuries, or
• Other emergencies that would disrupt the normal course of service delivery

Also required would be written emergency management policies outlining specific responsibilities for provision of:

• Administrative direction and management of response activities
• Coordination of logistics during the emergency
• Communications
• Life safety of residents, staff, volunteers, and visitors
• Property protection
• Continued provision of services to residents
• Community resource accessibility, and
• Recovery and restoration

Staff and volunteers shall be knowledgeable in, and prepared to implement, the emergency preparedness plan in the event of an emergency.Emergency procedures shall address:

• Alerting emergency personnel and facility staff
• Warning and notification of residents, including sounding of alarms when appropriate
• Providing emergency access to secure areas and opening locked doors
• Conducting evacuations or sheltering in place, as appropriate, and accounting for all residents
• Locating and shutting off utilities when necessary
• Operating the emergency generator, and if available on-site, testing it periodically
• Communicating with staff and community emergency responders during the emergency, and
• Conducting relocations to emergency shelters or alternative sites when necessary and accounting for all residents

The facility shall review the emergency preparedness plan annually or more often as needed and make necessary revisions. Such revisions shall be communicated to staff, residents, and volunteers and incorporated into the orientation and quarterly review. There should also be an annual review of the assisted living facilities insurance, which may need to be updated to include any recent changes or additions to the facility.

Robert C. Morrison is an agent from KB Underwriters which is an Insurance agency whom focuses on the insurance solutions required to protect senior living facilities.

Article Source: http://EzineArticles.com/?expert=C_Robert_Morrison

Article Source: http://EzineArticles.com/7515638

The Benefits of Contractor Insurance for Limited Companies

A career in contracting usually starts with a few simple steps. Usually an individual leaves their current professional position (this departure is often a voluntary action, but redundancy can also spur someone down the contracting route) and then decides to take the plunge into contracting. Professional workers and employees are increasingly choosing contracting as their line of work for a number of reasons: the ability to own, run and work for their own company being a highlight for those who previously held a position as an employee.

Being a limited company contractor certainly has its advantages over static employment in many cases. Among the numerous reasons, being able to dictate your own schedule and being subject to a lower tax bracket are top of many people's list. As well as these perks, many professionals relish the opportunity to work for themselves, a career in contracting being technically a 'self-employed' profession, and one that appears attractive to most.

Being a company owner, shareholder and worker does bring with it many potential downsides however, these far surpassing the niggling annoyances that can come with employment. As a person in charge of a business, whenever any misfortune or error occurs professionally, it will undoubtedly be the contractor that must take the wrap, and most importantly foot the bill. As a result of financial instability in this sense, sufficient contractor insurances must be purchased in order to oust any potential vulnerability concerning company finance.

The first port of call for any budding contractor is undoubtedly professional indemnity insurance. As a form of cover, the policy protects any law suits resulting from claims of negligence being made against the policy holder. Negligence claims arise often within business, but usually the firm or corporation will hold some overhanging insurance that covers all of its employees. Obviously with contractors this cannot be the case, and because of this they must purchase PI insurance as a means to protect their financial assets should a negligence claim be made. Professional negligence can be as a result of an accident, error, mistake or misconduct, and fundamentally stems from the actions of the contractor resulting in a loss for the end client. This is the major factor that the professional indemnity insurance covers, although the policy does also happen to have added benefits.

As a limited company contractor, in the eyes of the tax office an individual working through a personal service company should be visibly operating as a business in their own account. There are many things that can aid a contractor's position here, and professional indemnity insurance is one of them, adding value and providing representation that a limited company is working as a business in its own account (as opposed to an employee posing as a contractor).

Contractor insurance is a competitive market but is available in many places and from many service providers. Specialist suppliers of insurance for limited company professionals, specialize in PI insurance and IR35 cover, but with a vast collection of other quality products on offer.

Chris Carvill advises on Indemnity Insurance from Qdos, an advisor to UK contractors. Its website includes the Qdos guide to what IR35 is and a handy useful online contractor IR35 calculator to help you find out the potential impact of IR35 on your work.

Article Source: http://EzineArticles.com/?expert=Chris_Carvill

Article Source: http://EzineArticles.com/7527097

Architectural Professional Liability Insurance Concerns

As the area of professional liability expands, the number of lawsuits against architects is constantly increasing. There are many theories as to why this is the case. Certainly this creates a lot of concern for those working in this field, since their exposures are wide and varied. This article will discuss three areas of risk, since it is critical for architects to better understand their risk so they can better protect themselves.

While each state has its own specific laws, it would be prudent to research and understand some of the major areas of liability for the architect in a particular jurisdiction. Unfortunately, an architect's liability may continue for many years after the completion of a project, further raising the need to protect their assets and their business with some form of architectural professional liability insurance.

Areas of concern for architects

1. Contract claims

These can come in innumerable forms, some of which include issues arising from:

• The architect's direct work on a project
• Failing to meet contractual deadlines, and
• Any work not meeting a standard specifically mentioned in the contract

Architects can also be held liable by third parties that they did not have a contract with, such as builders, general contractors, and sub-contractors. When an issue arises concerning quality, something that may not be specifically addressed in the contract, then it falls under the category of "negligence". Negligence may be a very broad topic, but is generally considered to be any work that does not adhere to a "Professional Standard of Care" and can therefore become a liability. (The American Institute of Architects gives a brief definition of that "standard" as well as different ways to set realistic expectations with clients allowing architects to limit their liability in this area.)

2. Design Liability

If there are problems, for instance, with a design that is later found to have been beyond the capabilities of the architect, there may again be grounds for a lawsuit. In some instances, a design might be viewed as unnecessarily complex, or extremely complicated and perhaps not very well thought out, which may result in an increase in the price of maintenance. Even when there is no specific issue (unexpected amount of glare through a window, leaky roof ) the architect can be found liable for the expensive upkeep.

3. Inspections and Observations

Because third party employees may do much of the work, inspections can be essential to the success of the project. Unfortunately, some architects may falter when it comes to staying vigilant and detailed on site. The courts have ruled that architects can still be held responsible for work done while they weren't present or were unable to observe the work being done. These are three strong arguments for professionals who value their reputation to invest in a solid architectural professional liability insurance policy to protect against such exposures.

Lawrence J. Hall is an agent from at  PLRisk which is a wholesale insurance brokerage covering the professional liability market.

Article Source: http://EzineArticles.com/?expert=Lawrence_J_Hall

Article Source: http://EzineArticles.com/7517540

Secure Your Business Investments With a Comprehensive Insurance Policy

As a business owner, you invest considerable amounts in purchasing capital and office equipment, property, stock and inventory. All this, involves a fairly big amount of your money. However, business is not just about investments and profits - there are uncertainties and risks in every business, which at times may cause massive loss to your business. To protect your business financially against these risks, it is sensible to purchase an insurance package that covers all kinds of risks involved in your business. Insurance of appropriate value would acts as a protective tool for the purpose.

In this article, we will discuss critical covers that constitute a comprehensive business insurance policy that helps to secure your business investments.

Property is critical
Property, that is the building/condo where your business is housed and the contents (equipment, furniture, electrical fixtures, gadgets, etc.) face risks of different sorts. These include natural and man-made hazards that could damage the building and the contents.

Even if the building is not your own i.e., if you either rented or leased, make sure that the risks are covered. In most cases, building owners/leasers insist on purchasing property insurance. Do not however, ignore if they do not insist. Ensure that you have it to make your business secure.

Business interruption
Certain situations like fire accidents, natural calamities may damage your business premises or equipment and force you to shut business operations temporarily, to facilitate repairs and to set things right. There is, thus, loss of income during the period. However, there are expenses that are mandatory; for instance, building rents and utility tariffs. Therefore, see that your insurance covers business interruption as well.

Insure your inventory
Inventory includes the stocks of goods - finished and non-finished, inputs (raw materials, etc.) for your business. Inventory is the life-blood of your business and thus, signifies its health. You invest considerably to acquire them. Therefore it is important to protect them against the risks of damage.

Protect your equipment and machinery
The equipment and machinery are productivity enhancing tools for your business. In most cases they alone can make your business run. Thus, they are indispensable. Above all, you pay heavy amounts for their purchase and maintenance. Thus, protecting equipment and machinery by purchasing insurance that provides enough cover for them will be a smart business choice.

Professional indemnity
If your business involves providing service to your clients as it is in the case of chartered accountants, engineers, architects, consultants and others, there are fair chances of getting exposed to a wide range of claims.

You may experience claims of compensation for errors, omission, and loss of data. The risks in terms of their likelihood and severity (in terms of claims for compensation, legal procedure) are daunting. Therefore be sensible enough to cover the risk by including professional indemnity insurance to the extent of your business' needs.

Liability claims
Your business is also at risk of facing diverse liability claims. Such claims may come from your employees as well as others including the public, vendors and customers. If it is really a case, you cannot cope up the ensuing legal battle. The claims of compensation because of liability are likely to exhaust your finances and cripple your business.

As for employees' liability, you need to purchase workers compensation insurance. It protects your business against risks of liability because of injury to employee/s while on job.

To cover risk of such liability because of bodily injury to others, in your business premises or elsewhere, public liability insurance will come to your rescue.

Regardless of the size of your business - small, medium or large, purchase a comprehensive insurance package as per specific needs of your business and rest assured.

Keystone Insurance Group is Ireland's premier supplier of public liability insurance and business insurance solutions to Irish industry. Our experienced and professional team quickly arranges quotes for all classes of business insurance.

Article Source: http://EzineArticles.com/?expert=Nate_Rodnay

Article Source: http://EzineArticles.com/7533110

Business Insurance And The Economy

Whenever you log onto the internet these days or pick up a half read newspaper on the tube, you will no doubt be met by some ominous article explaining a million and one reasons why your business will not work and your company will suffer. Since the announcement of the 'recession' a few years back, money has seemed like a nonexistent pipedream and success; a dirty thought that should be forgotten about as quickly as possible.

For business owners, whether you are a limited company contractor or the CEO of a multi-million pound corporation, with the pressure of an unstable economy and a tax office that seems poised to burst, the importance of business protection has never seemed more relevant.

Whether getting suited and booted with small business and contractor insurance, or covering hundreds within an overhanging insurance umbrella, company owners are doing as much as they can to secure their finances this year. Insurance plays a large part in business. Cover policies have a far wider range than simply offering you a pay out if you clip your car on the way out of an unimaginable parking space. From obvious financial protection regarding liabilities and indemnity, to covering payments regarding health and safety, business insurance can enhance a company tenfold.

As most will already be aware, recently for business, the revenue and treasury have been knocking on the door of a number of occupational and company owners chasing unpaid taxes and potential schemes. Most noticeably for small businesses (limited companies and personal service companies) professional cover such as contractor insurance provides quality and cheap protection against the many trials and tribulations that a run in with the tax man can incur.

Her Majesty's Revenue & Customs are indeed a thorn in the side of modern businesses, their tax laws and implementations providing boundaries, guidelines and in some cases barriers against some of the flexibility of professional companies. Many cover policies are designed in a way as to combat some of the contingencies that HMRC disputes can cause.

Contractor insurance especially often concentrates on covering limited companies against any tax office disagreement, namely providing protection against IR35.

IR35 is a tax legislation aimed at pinpointing contractors and limited company professionals who may be guilty of tax avoidance. The legislation itself targets those who may be working from their own companies when they are still technically employed, thus avoiding the PAYE tax code, and therefore paying less tax than they should be.

Thankfully however, insurance exists that can aid contractors in their battle against the tax man with cover policies that can cover policy holders against financial outcomes of tax investigations.

Whether it is large or small business insurance, with the current economic climate still in the aftermath of the dreaded 'recession', companies across the nation are taking no chances, arming themselves with the latest shiny insurances that are on offer and rightly so. Insurance should obviously not be purchased for the sake of it, but it is advised that necessary policies are put into place.

Chris Carvill is an advisor for QDOS which provides Qdos Freelance and Contractor Insurance and Accident and Sickness Insurance for contractors. Visit the QDOS website to find out more or to arrange a Qdos IR35 Review.

Article Source: http://EzineArticles.com/?expert=Chris_Carvill

Article Source: http://EzineArticles.com/7534824