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The latest insurance articles, insight, and news from Capstone Insurors.

So You’ve Been in a Car Accident…

By Auto Insurance, Commercial, Personal

Auto accidents happen to the best and worst of drivers and the worst times.  No matter how good of a driver you think you are…it's best to always be prepared for an accident to happen.  That way…you have one less thing to worry about if the time comes.

Because the time after an accident can be emotional and confusing…we have put together a list of do's and don'ts for you to hopefully make it easier if an accident occurs.  

Remember:  the information and statements you do or don't collect will make an impact on the way your claim works out with your insurance company.  It is very important to make sure that you collect what is needed.

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Reduce the Risk of Employee Fraud with These Quick Tips

By Auto Insurance, Commercial, Personal

Most business managers and owners are well aware of the threat of loss from outsiders, and use a variety of methods to reduce this risk.  From locks on the doors, to security guards and dogs, to complex electronic burglar alarm systems, many preventative steps are taken.   

However, it is often the case that less attention is dedicated to reducing the risk of theft by an insider. No one wants to believe that an employee will purposely defraud the company of money. Most people want to trust their employees, and rightly so.  But it only takes one bad apple to do significant damage.  Depending on the person's position within the company, and the length of time the theft continues, substantial losses can result.  Business owners often have a tendency to believe “it can't happen here.” 

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Plan for the Unexpected with Contingent Business Interruption Insurance

By Commercial

Outsourcing resources out of the country is rapidly becoming an indispensable business practice for a number of industries trying to increase the speed of their production and reduce their overhead. However, if you have a supplier or several located thousands of miles from your business who shuts down and is incapable of delivering products or services on schedule, the results on your financial situation can be dramatic.

To reduce the amount of uncertainty that is common with both domestic and overseas outsourcing, you should think about Contingent Business Interruption, or CBI insurance. This is also known as dependent properties insurance or contingent business income, and this kind of coverage pays back your company for lost earnings that come from an interruption in your supply chain. You can either add this coverage to your standard property policy, or purchase it as a stand alone coverage.

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Is Your Business in the Right Insurance Class?

By Commercial

Every business owner who has ever received a bill for an insurance premium has wondered how the insurance company came up with the price, especially if the premium has gone up since the last renewal. While the insurance pricing mechanism can seem mysterious, and may involve a certain amount of discretion by underwriters, the starting point is always the same: The underwriter must answer the question, “What type of business is this?”

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Prevent Job Site Injuries through Good Design

By Commercial

The process of erecting a new building involves thousands of big and small decisions. These range from where to build, the building's size and shape, materials, appearance, windows, heating and cooling systems, and so on. All of these decisions affect the quality of the finished building, the amount of maintenance it will need in the future, the cost of using it, its appeal to prospective tenants, and its ultimate market value. Design decisions also have a major influence on another area that may not be readily apparent to the planners: The safety of the people performing the construction work. Safety professionals can often trace the causes of construction accidents back to the way the planners designed the structure. Therefore, it is critical that contractors have involvement in the discussions about building design.

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Legal Issues when using Social Media for Employment Screening

By Commercial

Most people are finding ways to use social media for their own advantage, so it makes sense that employers would do the same. Many employers use popular social media sites to screen potential candidates. They know that applicants can lie on paper applications and resumes, so using social media sites enables employers to learn more about each individual. Hiring takes time, money and resources. In today's economy, few employers can afford to have a high turnover rate, so they are taking every step necessary to prevent that.

By looking at social media profiles, employers may spot problem candidates. For example, a reckless candidate may post a status message about partying and using illegal substances. Since the information is often public and always free, employers simply see it as a way to prevent losing money. However, this practice may actually end up costing a fortune. If a candidate is turned down for a job because of information on his or her social media profile, that individual may be able to file a discrimination lawsuit. It is important for employers to remember that discrimination laws also apply during the screening process. To be protected from such an event, remember the following three tips.

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Understanding The Purpose Of Certificates Of Insurance

By Commercial

When stores lease real estate spaces or construction firms win jobs, the party on the other end usually has a very specific set of requirements. One of the main requirements is that the tenant, contractor or borrower must show proof that he or she has adequate insurance. Copies of insurance documents may be sufficient. However, not all companies want copies of documents sitting around. Space is valuable, and most banks do not have enough room to keep such copies of originals for every customer. A very helpful substitute for document copies is a certificate of insurance. This item is simple to create and store. Unfortunately, not all firms and insurance buyers fully understand them.

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How to Lower Your Commercial Auto Insurance Premiums

By Commercial

The top two factors affecting your commercial auto insurance premiums haven't changed. The primary drivers of commercial auto premiums are still very basic: Your history of claims, and the driving records of your individual drivers.  It follows, then, that you can get a lot of value out of focusing your hiring on mature, experienced, responsible drivers. Once you have selected solid people, the next step is to enforce safety standards and provide them with adequate rest and the tools they need to drive safely. But there are a number of new tools at your disposal, too. New technologies and advances in underwriting are making it possible for employers of drivers to take a more pro-active approach to risk management and claims reduction. The ultimate effect is to lower your premiums – saving you money. Here are some things you can do to keep your premiums down:

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Professional Errors and Omissions: Protect Your Practice

By Commercial

Professional liability insurance funds losses caused by errors or omissions in the rendering of services. What does this mean?

Professionals are human and errors do occur. In medicine and science, the client benefits from the best course of action suggested by an experienced practitioner at the time the service is rendered. The best course of action, though, has some risk of failure. It is wise to cover this potential.

Some examples of typical professional liability claims:

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