What is malpractice insurance?
What Is Malpractice Insurance? Malpractice insurance is a specialized type of professional liability insurance designed to protect professionals, particularly in healthcare, from lawsuits involving negligence, errors, or failure to deliver expected services. In simple terms, if someone claims your professional actions caused harm, malpractice insurance helps cover legal costs, settlements, and damages, protecting your career, […]
Bureau of Workers Compensation – What It Is and How It Works
What Is the Bureau of Workers Compensation? The Bureau of Workers Compensation (BWC) is a state-run agency responsible for administering workers’ compensation insurance programs. These programs provide medical benefits and wage replacement to employees who get injured or become ill due to their job. Each U.S. state has its own version of the Bureau of […]
SFM Comp – Workers’ Compensation Insurance Explained
What Is SFM Comp? SFM Comp is a term many people search for when looking for information about workers’ compensation insurance, often related to SFM Mutual Insurance Company, a well-known workers’ compensation carrier in the U.S. While many small businesses think workers’ compensation is complex, SFM Comp simply refers to coverage designed to protect your […]
When Did Auto Insurance Become Mandatory?
When Did Auto Insurance Become Mandatory? Auto insurance first became mandatory in Massachusetts in 1927, making it the first U.S. state to require drivers to carry liability coverage. Over time, almost every state adopted similar laws, with New Hampshire and Virginia as the two exceptions where auto insurance is not universally required. Key Points Massachusetts, […]
Primary & Non-Contributory: What It Means in Insurance
Primary & Non-Contributory: What It Really Means in Insurance The term primary & non-contributory refers to a requirement in insurance contracts where one party’s insurance policy pays first (primary) in the event of a claim, and the other party’s insurance does not have to contribute (non-contributory). This wording is common in contracts involving contractors, vendors, […]
What Is Interested Party in Renters Insurance?
What Is Interested Party in Renters Insurance? Additional paid-up insurance is a rider in whole life policies that lets policyholders reinvest dividends or make extra contributions to buy fully paid permanent coverage. These paid-up additions increase both death benefit and cash value, and they don’t require ongoing premiums. Key Points Uses dividends or extra payments […]
What Is Additional Paid-Up Insurance?
What Is Additional Paid-Up Insurance? Additional paid-up insurance is a rider in whole life policies that lets policyholders reinvest dividends or make extra contributions to buy fully paid permanent coverage. These paid-up additions increase both death benefit and cash value, and they don’t require ongoing premiums. Key Points Uses dividends or extra payments to buy […]
What Is Supplemental Dental Insurance?
What Is Supplemental Dental Insurance? Dental care is an essential part of overall health, but even with standard dental insurance, out-of-pocket expenses can add up quickly. That’s where supplemental dental insurance comes in. It’s designed to fill the gaps that a primary dental plan doesn’t cover, helping reduce unexpected costs. Quick Answer Supplemental dental insurance […]
What Is a Named Insured in Insurance?
What Is a Named Insured in Insurance? A named insured is the person or entity listed on the insurance policy who has full rights and protections under that contract. They are the policyholder responsible for premiums, policy changes, and claims. Understanding the Named Insured Insurance policies can be complicated, full of terms that sound similar […]
What Is Supplemental Employee Life Insurance
What Is Supplemental Employee Life Insurance and How Does It Work? Supplemental employee life insurance is optional life coverage you can buy through your employer to add to the basic group life insurance they provide. It increases the financial protection your family receives if you pass away. Understanding Supplemental Employee Life Insurance Most employers offer […]
What Is Supplemental Health Insurance and How Does It Work?
What Is Supplemental Health Insurance and How Does It Work? Supplemental health insurance is extra coverage you buy to help pay for medical costs not fully covered by your primary health insurance, such as deductibles, copays, coinsurance, or non-medical expenses during an illness or accident. Understanding Supplemental Health Insurance Traditional health insurance covers many essential […]
Is Personal Liability the Same as Umbrella?
Is Personal Liability the Same as Umbrella? No, personal liability and umbrella insurance are not the same. Personal liability is basic protection included in homeowners, renters, or auto policies. Umbrella insurance goes beyond, extending coverage limits and adding protection for risks not covered by personal liability. What Is Personal Liability? Personal liability is the standard […]
What Is Umbrella Liability?
What Is Umbrella Liability? Umbrella liability is an extra layer of insurance protection that extends beyond the limits of your standard policies—such as auto, homeowners, or general liability. It not only increases coverage limits but may also protect against claims not included in underlying policies, like libel, slander, or worldwide incidents. Why Umbrella Liability Exists […]
Is Excess Liability the Same as Umbrella?
Is Excess Liability the Same as Umbrella? No — excess liability and umbrella insurance are not the same, even though both provide extra coverage. Excess liability only extends the limits of an existing policy, while umbrella insurance can extend limits and broaden coverage by adding protections not included in underlying policies. Key Points Excess liability […]
Professional Indemnity and Public Liability Insurance
Professional Indemnity and Public Liability Insurance Professional Indemnity (PI) insurance and Public Liability (PL) insurance are two of the most important policies for businesses and professionals. They often get confused, but they cover very different risks. Understanding both ensures you have full protection against claims that could threaten your finances, reputation, and business continuity. Key […]
Strict Liability Products – How to Protect Yourself
Strict Liability Products – How to Protect Yourself and Your Business Strict liability products law means that if a product is defective and causes harm, the manufacturer, distributor, or seller can be held responsible—even if they were not negligent. This legal standard makes it easier for injured consumers to get compensation, but it also means […]
Product Liability Strict Liability
Product Liability Strict Liability – Understanding Your Rights and Legal Protection When a defective product causes harm, you might assume you must prove the manufacturer was careless. But in many cases, you don’t — that’s where strict liability comes in. This legal principle can make it easier for injured consumers to recover compensation without needing […]
Manufacturer Defective – What It Means for Your Claim
Manufacturer Defective – What It Means for Your Claim When a product fails due to a manufacturer defect, the consequences can go far beyond frustration—they can be dangerous, costly, and even life-threatening. Knowing exactly what a manufacturer defect is, why it happens, and what your legal rights are is key to protecting your health, finances, […]
Do Online Personal Trainers Need Insurance?
Do Online Personal Trainers Need Insurance? If you offer virtual fitness coaching or training, you might wonder: Do online personal trainers need insurance? The short answer is yes—especially if you’re advising clients, handling payments, or building a reputation. Without proper coverage, a single injury claim or data issue could expose you to serious financial risk. […]
High-Risk Business Insurance: What You Need to Know
High-Risk Business Insurance: What You Need to Know If your business operates in a high-risk industry, getting insured isn’t just a recommendation—it’s a necessity. High-risk business insurance protects companies exposed to greater liability, property damage, injury claims, or regulatory scrutiny. What Is Considered a High-Risk Business? A high-risk business is one with elevated chances of […]