GSP Insurance Group Blog |
 As a business owner, you know how important it is to protect your company against unexpected events. You have insurance for your property, your products, and your liability, but have you considered protecting your business from employee-related lawsuits? This is where Employment Practices Liability Insurance (EPLI) comes into play. In this article, we'll discuss what EPLI insurance is and provide examples of covered situations.
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 Auto insurance is an essential investment for vehicle owners to protect their financial interests in case of an accident or loss. However, there are two main types of auto insurance policies available in the market - personal auto insurance and commercial auto insurance. In this blog post, we will discuss the differences between these two policies and help you understand which one is suitable for you.
 In today's competitive business landscape, employers are constantly looking for ways to attract and retain top talent. One way to do this is by offering voluntary benefits, which are benefits that employees can opt into and pay for themselves, often at a group discounted rate. In this blog post, we'll explore how offering voluntary benefits can help businesses and business owners in several ways.
 Auto insurance is an important investment for vehicle owners to protect themselves from financial losses in the event of an accident or loss. However, it's crucial to ensure that your auto insurance policy reflects the nature of your vehicle use accurately. If you have a vehicle that you use for business purposes on a personal insurance policy and get into an accident, several consequences could arise. In this blog post, we will discuss what happens if you have a vehicle that you use for business purposes on a personal insurance policy when you get into an accident.
 Running a business can be a risky venture, with potential threats lurking around every corner. Whether it is an employee getting injured on the job, a natural disaster damaging your property, or a data breach compromising sensitive information, any of these events can significantly impact your company's bottom line. That's why it's essential to have the right insurance policies in place to protect your business.
Here are the top insurance policies that every business should consider investing in:  Cyber liability insurance is a type of insurance coverage that protects businesses and organizations from financial losses that result from cyber-attacks, data breaches, and other online threats. In today's digital age, organizations of all sizes are becoming increasingly reliant on technology, which makes them vulnerable to cyber threats. Cyber liability insurance provides a critical safety net for businesses that rely on technology for their operations. A hard market in insurance refers to a period of time when insurance companies are less willing to underwrite policies, often due to increased claims or losses. As a result, premiums tend to be higher, and coverage may be harder to obtain. During a hard market, insurance companies may also be stricter in their underwriting criteria and may limit the amount of coverage they are willing to provide. This situation is the opposite of a soft market, which is characterized by increased competition among insurance companies and lower premiums.
Additional factors that are increasing rates for coastal properties are the fact that 6+ insurance companies writing coastal homes went bankrupt in 2022. This combined with other traditional factors, or a hard market leads to increased premiums and less carrier options for your home, auto, and business insurance. Independent Agents like GSP Insurance Group and our clients are slightly less impacted by this as we work with over 50+ carriers to always find our clients the best options and value. |
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