Commercial Insurance Update

December 3, 2015
Are Your Commercial Insurance Costs too High?

Most commercial insurance experts are predicting lower rates for most businesses across the United States. Commercial insurance buyers should anticipate lower rates and wider choice in coverage terms at upcoming renewals as insurance pricing softness accelerates in most lines.

Commercial or business insurance rate reductions are due to a softening in the market, reduced catastrophic losses, and continued competition among the leading insurers.

Rate vs. Premium

Rate is the cost of insurance per exposure unit, such as revenue or payroll. The premium is based on a formula of rate times exposure. Your rate could go down, but if your revenues are up it could affect a flat premium.

Workers’ Compensation

With the exception of California, Pennsylvania and New York, most states are applying for lower rates.
Have Us Shop Your Commercial Insurance

Now is the time to contact us to help you review your risk, design your program and market your commercial business with our top rated markets. Your commercial program should include:

  • Commercial liability
  • Commercial auto
  • Property
  • Workers’ compensation
  • Cyber liability
  • Directors & officers & professional liability
  • Employment liability
  • Bonds and dishonesty
  • Umbrella or excess
In addition to placing all lines of commercial insurance, please visit our Products & Services page to review the specialty programs we have developed for our clients or feel free to contact us at (925) 677-7400.

Interesting Findings About Business Insurance

November 2, 2015

The Top Claims For Small Businesses

In a recent report by Property Casualty 360 See full Article, the top claims for small businesses were reviewed. In this report, a leading insurer of small businesses reviewed millions of policies over a five year period. We found the results interesting.

Business Insurance

Remember that business insurance protects your investment by minimizing financial risks associated with unexpected events such as a death of a partner, an injured employee, a lawsuit, fire,...
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Rethinking Business Insurance

October 19, 2015
Over the years we have seen well intentioned buyers of insurance and risk products make decisions that, while they may appear to help the organization, actually hurt it in the long run. Here is a list of top mistakes that uninformed insurance buyers often make. We provide it to you in hope that you can learn from the errors of others.

Thinking That Bidding Your Insurance Is The Best Way To Get The Best Program

Most insurance buyers have the false belief that getting three bids from three differ...
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Contractors Have Professional Liability Risks

October 19, 2015
According to the International Risk Management Institute contractors, project owners, and project professionals have increased risk of professional liability claims. Yet, less than half of all contractors in need of the coverage are buying it. Insurance can play an important role in “on time and on budget” projects. If your Contractors Insurance coverage is not written properly, your business may not survive financially.

Contractors Professional Liability coverage has become just as import...
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Why Almost Every Business Needs Professional Liability

September 4, 2015
Understanding the complexities of small, medium and large companies and their Professional exposures from all types of businesses takes a high level of expertise. Many firms don’t fully understand their exposure and may even believe their business insurance will cover professional liability claims. For example, if a contractor modifies plans in any way, they could be at increased risk for a construction professional liability claim.

Our Professional Liability markets provide reliable protect...
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How to Reduce Your Company’s Cyber Risk

July 13, 2015
Cyber risk is a topic that keeps evolving. At this point, we believe that every business needs to have cyber liability insurance. The methods that the cyber criminal’s use is always changing and we are constantly researching the latest prevention trends.

Cyber Risks Are Growing

Russian hackers recently stole more than 2 billion online names and passwords. Home Depot had millions of customer credit cards stolen. A local restaurant recently had 1200 customer credit card numbers stolen, and fina...
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Proven Ways To Reduce Your Commercial Insurance Costs

January 28, 2015
Polaris Risk Management & Insurance Services offers a number of proven methods for reducing insurance premiums without affecting coverage. We recommend a review of your program to determine if these areas can be managed differently to reduce costs. We are ready to help you work through the process. Here are six methods we can recommend for you to consider.

Commercial Insurance

Merge insurance policies - Consolidating auto, property and liability under one policy can provide “package” credit...
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Five Common Problems That Lead To Financial Losses

January 16, 2015
Is Your Business Protected?
A recent report issued by the Association of Certified Fraud Examiners, places the cost of employee fraud at 7% of annual revenues.  Employers with less than 100 employees saw a median loss of $200,000 according to the ACFE. Another study performed by the Institute for Corporate Productivity and showed that 20% of all employers have some form of employee fraud.

Manage These Risks

  1. Duties need to be separate. No one person should have authority to authorize tran...

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Cyber Risk, Not Just To Protect Your Computer

December 18, 2014
Cyber Risk Survey

Recently The Business Journal published a report on cyber risk, and we thought the results would be good to share with you. While a majority of U.S. finance executives now see high-profile cyber-breaches as a major risk, many still have inadequate cyber insurance coverage. That finding comes from the Association for Financial Professionals’ (AFP) survey of executives in corporate treasury, finance, and banking at its annual conference in Washington, D.C. Results are based o...
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Four Insurance Coverages Every Business Owner Needs

December 1, 2014

Insurance coverage is available for almost every type risk your business might face. Our firm can advise you on the exact types of commercial insurance you should consider purchasing. The right commercial insurance policies will go a long way toward helping you safeguard your earning power and your future. If you are a business owner, here are a few insurance products that you should consider.

Business Income or Loss of Rents

Commercial Property Insurance can cover loss of business income w...

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We traditionally use the New Year to reflect on the year before and instill a new resolve for the year to come. For 2013, this year marks 50 years since Americans first stood atop our world’s highest peak. At Polaris we offer a culture where our employees are strongly encouraged to think outside of the proverbial “box,” reaching new heights for the benefit of our clients.

As an Independent Commercial Insurance Brokerage, we are dedicated to serving you. We represent several leading insurance carriers rather than any single provider. Therefore, we have the ability to continually monitor the marketplace and offer you the best possible value. We provide the highest level of customer service and dedicate our resources to meet your needs and earn your trust. Our success is based on your continued satisfaction.

Cheers to continued successes.


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