Do you read your insurance policy? Not many people do, as they rely on their insurance brokers or agents to do the “dirty work” for them. Generally, this is not a good practice to follow when purchasing insurance, and is equivalent to purchasing a car without knowing the mileage, year and past mechanical issues of the vehicle. Remember: your insurance policies are a contract, and it is imperative to know what exactly you are covered for and if the policy responds to the needs that led you to purchase insurance for in the first place. While reading your insurance policy can be difficult, it is a task that must be done to make sure you are getting what you paid for. In this post, we'll break down the terminology and line items to look for.
Social Media and Insurance: What You Need to Know
More and more businesses are investing in social media as an inexpensive and typically effective marketing tool. While it may seem simple to interact with your prospective and existing clients through this medium, there are situations companies should carefully navigate through, to avoid any unintended negative consequences. Even a company exercising sound risk management practices regarding their program may encounter a situation which gives rise to a claim. A combination of risk management practices and appropriate insurance coverage can help mitigate the unforeseen costs involved with social media.