For many businesses, traditional general liability insurance and professional liability insurance offer essential protection—but they often come with limitations. Rising premiums, rigid policy terms, slow claims processes, and frustrating exclusions can leave companies feeling powerless. As organizations grow, so do their risks. Yet, conventional insurance often struggles to keep pace, offering little flexibility or control. […]
Construction projects are large-scale, high-stakes undertakings that involve careful coordination of multiple moving parts—contractors, subcontractors, suppliers, project owners, lenders, and regulatory bodies, just to name a few. With so many players involved, and tight deadlines and budgets at play, there’s no shortage of risks that can threaten the project’s timeline, financial stability, or overall success. […]
Cyber threats are no longer a concern only for large corporations—businesses of all sizes are at risk. Whether you run a small startup, a mid-sized company, or a multinational enterprise, the reality is that cybercriminals are constantly seeking vulnerabilities to exploit. Data breaches, ransomware attacks, and social engineering schemes can cause severe financial and reputational […]
It’s a bright morning at your condo association’s annual meeting, and the board is discussing the upcoming budget. Everything seems in order until someone brings up the unexpected: a slip-and-fall lawsuit filed by a visitor in the common area. The board scrambles to review its insurance coverage. Does the master policy cover this? What about […]
Imagine this: You’re the CEO of a thriving tech company. Your AI-driven software just won a prestigious award for innovation, and your team celebrates its growing impact in the market. But weeks later, a lawsuit lands on your desk. The allegation? Bias in your algorithm led to discriminatory outcomes for users, and now your company […]
As the new year begins, businesses across the U.S. must prepare for one of the most critical compliance deadlines on the calendar: submitting the OSHA Form 300A. This key requirement applies to many employers and plays an essential role in ensuring workplace safety transparency. Here’s everything you need to know to stay compliant and avoid […]
When it comes to protecting your business, having the right insurance coverage is crucial. Two common types of insurance that service providers often need are general liability insurance and professional liability insurance. Though both provide important protection, they serve different purposes. Understanding the differences between these two policies can help you choose the right coverage […]
As a property manager, you juggle numerous responsibilities, from tenant relations to property maintenance and regulatory compliance. Each task comes with its unique risks, and even the smallest oversight can lead to expensive lawsuits, damaged reputations, and financial losses. Errors and Omissions (E&O) insurance is a critical safeguard, providing financial protection and peace of mind […]
When it comes to auto insurance, most people assume their personal policy will cover them in every situation. However, for individuals or businesses that rely on vehicles not personally owned—such as company cars or rental vehicles—this assumption could lead to costly gaps in coverage. That’s where Drive Other Car (DOC) Coverage comes into play. DOC coverage […]
Errors and Omissions (E&O) insurance is often associated with protecting against design-related errors, but it goes far beyond that for builders. Subcontractors bring specialized expertise to construction projects, from electrical wiring and plumbing to HVAC installations and interior finishes. While this division of labor boosts efficiency and quality, it also introduces potential liability for errors […]
Horses are a significant financial and emotional investment, and the costs associated with their care, training, and competition can be substantial. However, the risks involved in the equestrian world are equally significant. Injuries, illnesses, accidents, and even theft can result in devastating losses. Equine insurance provides a safety net, protecting you against these risks. For […]
In the construction industry, no two days are the same. From managing crews and meeting deadlines to handling equipment and navigating unpredictable weather, you face countless moving parts—and risks—every single day. One accident, equipment breakdown, or an unexpected lawsuit can derail your projects and threaten your hard-earned reputation. The question is: Is your business ready […]
Workplace safety isn’t just a legal requirement—it’s a fundamental part of fostering a productive and engaged workforce. When employees feel safe, they are more confident, motivated, and focused on their work. For employers, investing in safety reduces the likelihood of accidents, minimizes downtime, lowers insurance premiums, and enhances employee morale. However, achieving a safe workplace […]
As a business executive, the decisions you make can significantly impact your company and stakeholders. In today’s increasingly litigious environment, even the most experienced professionals face legal risks that could potentially derail their careers. For executives, having the right professional liability coverage is crucial. This guide highlights key coverage details, industry-specific needs, and strategies to mitigate […]
The transportation industry is the backbone of commerce, moving goods across vast distances to ensure supply chains stay intact. If your business relies on a fleet of trucks, ensuring they are protected is very important to your bottom line. Commercial vehicle insurance helps you comply with legal requirements and safeguards your operations from financial pitfalls in case […]
Motorcycles are a popular mode of transportation, offering a thrilling and liberating experience. However, owning a motorcycle also comes with its share of risks. That’s where motorcycle insurance plays an important role in protecting you and your investment. While motorcycle insurance premiums can vary, there are several strategies you can employ to keep your costs down […]
Understanding the environmental risks associated with construction and industrial operations is crucial for business owners in these sectors. The potential liabilities and financial consequences of pollution incidents can be severe, impacting the environment and your bottom line. This is where Pollution liability insurance, also commonly referred to as environmental insurance, becomes an essential part of […]
Managing business insurance costs effectively starts with a proactive approach to risk management, especially during hard markets when premiums are rising and coverage options are limited. However, with a strategic approach, businesses can effectively manage and reduce insurance costs while ensuring optimal coverage. Here are ten strategies to help control business insurance costs: 1. Conduct […]
Inland marine insurance was previously used by those in the marine industry to protect against property losses before, during and after water transfers. As decades passed, cargoes started to be transferred on land, and thus, the term “inland marine” was coined. These policies became known as “floaters” because the property covered was originally “floating” in […]
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Tooher-Ferraris Insurance Group has been at the forefront of offering innovative insurance protection tailored specifically for condominiums and associations. In our experience, one of the most important decisions condo boards make is choosing the right insurance program. If you’re struggling to manage your condominium association effectively, don’t worry—you aren’t alone. Self-managed boards are highly likely […]
Run your nonprofit board with maximum peace of mind – get your NPO protected with Directors’ and Officers’ insurance today!
10 Essential Cybersecurity Controls Cyber incidents—including data breaches, ransomware attacks and social engineering scams—have become increasingly prevalent, impacting organizations of all sizes and industries. Such incidents have largely been brought on by additional cyberthreat vectors and growing attacker sophistication. As these incidents continue to rise in both cost and frequency, it’s crucial for organizations […]
In the event of a catastrophic commercial property loss, the process of getting your business back up and running can be overwhelming. Although infrequent, these types of claims can severely impact operations, earnings, team members and the company’s reputation. Responding to a loss can seem daunting in the moment, especially considering the first few hours […]
The Occupational Safety and Health Act (OSH Act) requires covered employers to report workplace injuries and illnesses and to prepare and maintain records of occupational injuries and illnesses. The Occupational Safety and Health Administration (OSHA), which is part of the U.S. Department of Labor, is responsible for monitoring compliance with the OSH Act’s reporting and […]
Long-range forecasts are already calling for the 2024 Atlantic hurricane season to be extremely active. Commercial weather forecasting service AccuWeather has released its expectations for the 2024 season, including warnings that hurricanes could wreak destructive havoc on areas along the Atlantic and Gulf coasts this year. Conditions are expected to resemble those of the 2005 […]
The Occupational Safety and Health Administration (OSHA) requires employers subject to its recordkeeping requirements to post copies of their OSHA Form 300A between Feb. 1 and April 30 of each year. Employer Action Steps On February 1, employers subject to OSHA recordkeeping requirements must ensure that copies of their completed Forms 300A are posted in […]
2023 marks the 20th annual cybersecurity awareness month. Whether you’re protecting your business or your home, it’s crucial to safeguard yourself from cyber events. Personal Cyber Coverage: Today’s society has grown increasingly digital in nature, with many individuals leveraging smart devices within their daily lives. Although this technology can offer various benefits, it can also […]
Whenever it rains, it can flood, regardless of your proximity to a body of water. You don’t need to live on the coast to be at risk, which is why it’s essential to understand what types of hurricane damage are covered by your homeowners policy. Typically, most homeowners insurance policies provide some financial protection against […]
As cyberattacks become more widespread and destructive, stakeholders are increasingly motivated to hold businesses accountable for poor digital security controls, response protocols, and recovery measures. However, this poses increased litigation concerns and associated expenses. The latest industry findings show that data breach class action lawsuits have jumped by 44% since 2020. With litigation issues on […]
A surety bond is a comprehensive risk management tool used in countless industries across America. Businesses like contractors, car dealerships, credit services, health clubs, medical device suppliers, auctioneers and others are required to hold bonds on the federal, state and/or municipal level. Even solopreneurs like acupuncturists and notary publics are required to hold a surety […]
Recent market developments have demonstrated signs of an improving commercial insurance landscape. Yet, industry experts asserted that ongoing headwinds facing certain lines of coverage will continue to generate hardened conditions overall, therefore driving up premiums. As such, it’s essential for businesses to be aware of the following market trends and how they may impact coverage […]
Risk management is an essential part of owning and operating a small business. Comprehensive plans can improve the safety of business operations and reduce the risk of loss. How to Manage Business Risks A vital aspect of running a small business involves managing its associated risks, as no operations are immune to internal or external […]
Just a single inch of water from flooding can cause costly damage to your home. Here’s what you need to know about insuring against damages caused by flooding. What Protection Does it Offer? A standard homeowners policy does not cover damages from flooding. A separate flood policy is needed to cover losses to your property […]
The Impact of Inflation on the Commercial Insurance Market Over the past year, inflation has become a growing concern. Inflation issues have largely resulted from a culmination of labor and supply trends brought on by the COVID-19 pandemic, and they are clearly reflected within the country’s rising Consumer Price Index (CPI). According to the […]
Workers’ compensation claims have a variety of different costs associated with them. Some of these costs are expected costs, while others are unexpected. Here’s the difference between these terms: Expected costs are those that are covered by workers’ compensation insurance. Such expenses are commonly referred to as direct costs. Unexpected costs are those that workers’ […]
The way project owners evaluate and manage risks on construction projects and make fiscally responsible decisions to ensure timely project completion are crucial to their success. Since private owners cannot afford to gamble on a contractor whose reliability is uncertain or who could end up bankrupt halfway through the job, a surety bond is a […]
At most condo communities, a homeowners association (HOA) is equipped with an insurance policy that provides coverage for incidents that occur outside of a condo owner’s personal unit. This is commonly known as a master policy, and some condo owners wrongfully assume it is adequate enough to account for all incidents that occur in […]
As a business owner, you strive to hire qualified employees to work for you. Unfortunately, as you are well aware, not every hiring decision goes as planned. Even if an employee is terminated for legitimate reasons— such as poor attendance or unsatisfactory work habits—every termination opens the door for potential lawsuits. Read on to learn […]
This guide will help you collect the necessary documentation and statistics required during a payroll audit. Because of the nature of the required information, it is recommended that this guide be completed by the accounting department, unless your organization has someone specifically responsible for these documents and the workers’ compensation policy. STEP 1: Collect Necessary […]
The Important of Prompt Claims Reporting The rising cost of claims presents a significant challenge for employers today. However, there is a simple strategy that can significantly reduce your claims costs: report all claims promptly. In fact, the sooner a claim is reported, the lower the cost is likely to be. Beyond cost, reporting claims […]
Safety Tips for Proper Workplace Lifting Lifting is a common activity in the workplace—an activity that can be potentially dangerous if the proper techniques are not used. In fact, lower back injuries caused by improper lifting are some of the most common work-related injuries.
Just a single inch of water from flooding can cause costly damage to your home. Here’s what you need to know about insuring against damages caused by flooding either from excessive rain or a natural disaster.
Restaurant Owners: This restaurant-specific scorecard can help you determine how your business is exposed to cyber threats.
Workers’ compensation is a system of no-fault insurance that provides medical and monetary benefits to employees (or their survivors) who sustain work-related injuries, diseases or death. Workers’ compensation is governed by state law.
Many spend their weekend days basking in the sun while others are out working in it. July is National UV Safety month, check out these tips from TFIG to educate outdoor workers about staying safe in the sun. Trust in us to protect your employees.
As a responsible employer, you need to react quickly to workplace incidents with a prescribed investigation procedure for finding root causes and implementing corrective actions. Taking quick and planned actions can demonstrate your company’s commitment to the safety and health of your employees, and your willingness to improve your safety and health management programs to […]
According to a recent study, more than half of all claims filed for employment-related liabilities are against employers with fewer than 50 employees. Alarmingly, the study also reveals that not even 2 percent of small businesses have employment practices liability (EPL) coverage.
Continuity is critical in business, and there are few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations. In fact, just one brief business interruption can be incredibly costly for an organization, often leading to serious repetitional damages or long-term closures.
A guide to compiling essential information. This guide will help you collect the necessary documentation and statistics required during a payroll audit.
Directors and officers liability (D&O) insurance is a critical component of almost every organization’s risk management program.
With today’s emphasis on corporate transparency and accountability, an organization’s directors and officers face a countless number of exposures. Regardless of your company’s size or mission, the legal costs associated with a lawsuit can be crippling for both the organization and your directors and officers.
July 7, 2017 | By Eric P. Ferraris, CIC, CRM, CLTC, Chief Operating Officer of Tooher-Ferraris Insurance Group Part of our firm’s signature assessment with each business we work with is to identify their exposure to loss to deliver risk management and insurance solutions. Most business owners will proclaim, “We have a safety program!”. When diving […]
EMERGENCY ACTION PLAN (EAP) Acadia Insurance | 2017 Hurricane Bulletin Setting up an Emergency Action Plan helps aid and organize employer and employee procedures during workplace emergencies. Well-developed emergency plans and appropriate employee training, in which employees understand their roles and responsibilities within the plan, can result in fewer and less severe employee injuries and […]