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Business Insurance

Apr 23

Alternative Insurance Funding for the Hospitality Industry

By Business Insurance, From the Experts
From the smallest boutique hotels to the grandest of resorts, the hospitality industry’s priority is always the guest's comfort and satisfaction. Amidst this steadfast pursuit, risk management and insurance are often relegated to the background — until moments of crisis. However, the dynamics of the insurance market are changing, leading many forward-thinking hospitality businesses to explore alternative insurance funding models. (more…)
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Apr 17

UNLOCKING THE POTENTIAL OF ALTERNATIVE RISK FUNDING

By Business Insurance, Employee Benefits
In the complex arena of organization strategy, navigating through the myriad of risk management options is fundamental. Beyond the realm of conventional insurance lies a landscape rich with alternative risk funding solutions, designed to revolutionize not just the insurance industry but also the way organizations manage both commercial insurance and employee benefits. This brief guide illuminates the pathways through self-funded insurance, captives, risk retention groups (RRGs), and stop-loss policies, offering simple explanations on how each model could potentially to fortify your organization against uncertainties.   (more…)
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Apr 17

A Leader’s Guide to Cybersecurity Resilience

By Business Insurance
Cybersecurity has moved way beyond just being a trendy term; it's now a core part of keeping a business solid and successful in the tech-savvy world. With all kinds of online threats lurking around, having a forward-thinking security game plan is key not just for dodging cyber mishaps, but also for keeping your customers' trust and making sure your operations run smoothly. (more…)
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Feb 26

Protect Your Business’s Future with Trade Credit Insurance

By Business Insurance
In today's unpredictable market, safeguarding your business's financial health is essential. Trade credit insurance represents a pivotal shield, ensuring that your company remains robust against the sometimes-unpredictable tide of trading on credit. Here's why prioritizing this insurance is not just smart but could be imperative for your business’s longevity and prosperity. (more…)
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Jan 23

Understanding the New DOL Definition of Independent Contractor

By Business Insurance
On January 9, 2024, the U.S. Department of Labor issued a final rule to provide a clear definition of an "independent contractor" as outlined in the Fair Labor Standards Act (FLSA). This new rule replaces a previous 2021 rule and introduces a comprehensive six-factor test that focuses on assessing the "economic reality" of the relationship between a potential employer and a worker. The DOL's intent behind this is to enhance clarity and ensure a more accurate determination of worker classification. (more…)
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Dec 13

Kapnick Insurance Welcomes New Commercial Insurance Client Executive, Sean Carriveau

By Business Insurance, Kapnick News
Kapnick is proud to announce the appointment of Sean Carriveau as a new commercial risk Client Executive, based in our Ann Arbor office. Sean, an accomplished professional with significant experience, joins Kapnick with a strong background in business management and a commitment to client service. He has a degree from Oakland University . In his new role, Sean will leverage his skills and expertise to provide bespoke commercial risk solutions to clients, ensuring their businesses and lives are not compromised due to unexpected losses. His focus lies in building enduring relationships and delivering tailored insurance solutions that align with their…
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Nov 22

UNDERSTANDING THE RISING COMMERCIAL INSURANCE RATE ENVIRONMENT

By Business Insurance, From the Experts, Insurance Update
In the evolving economic landscape, commercial insurance rates continue to trend upward. As your trusted partner, our focus is on empowering you to understand the reasons behind these increases and offer strategies to help you take control of your destiny. Together, we can roll up our sleeves and put in the work necessary to improve your risk profile through strategic decisions and implementing effective measures that ultimately make you a more appealing risk to carriers. As always, our commitment is to work alongside you, leveraging our expertise and resources to help you beat the market trends. RATE TRENDS According to…
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Oct 25

Introducing Kapnick Private Equity Specialists

By Business Insurance
At Kapnick Insurance, our Private Equity Practice Group consists of seasoned executives and industry veterans who are dedicated to addressing the unique challenges and opportunities that exist within the private equity sector. Led by the accomplished duo of Doug Miller and Melissa Selke, our nine-member team is known for delivering high-level solutions tailored specifically for private equity leaders. Our approach isn't just about marketing; it's about providing expert solutions and tangible value that align with your needs. In today's dynamic mergers and acquisitions climate, our innovative insurance risk capital solutions play a crucial role in bridging the gap between buyers…
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Oct 23

The Impact of Nuclear Verdicts on Commercial Insurance

By Business Insurance
In the complex realm of commercial insurance, understanding potential threats and risks that could affect a business is essential. A significant threat that has emerged in recent years is the phenomenon known as nuclear verdicts. Nuclear verdicts have far-reaching implications for both the insurance industry and businesses. WHAT ARE NUCLEAR VERDICTS? Nuclear verdicts are defined as jury awards where the penalties exceed an astonishing $10 million. In recent years, these types of verdicts have seen a substantial increase, causing a ripple effect throughout the insurance industry. It is not only the rising frequency of these verdicts that is concerning but…
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