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Commercial Insurance Update

Posted by Polaris on Thursday, 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 v...
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Interesting Findings About Business Insurance

Posted by Polaris on Monday, 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

Posted by Polaris on Monday, 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

Posted by Polaris on Monday, 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

Posted by Polaris on Friday, 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

Posted by Paul Baldikoski on Monday, 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

Posted by Polaris on Wednesday, 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

Posted by Polaris on Friday, 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 HR.com 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

Posted by Polaris on Thursday, 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

Posted by Polaris on Monday, 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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Commercial Liability For Every Business

Posted by Polaris on Friday, November 21, 2014,

Business Insurance

The world is changing, and we understand the issues businesses face every day. There is constant competition for your customers, there are challenges in attracting and retaining top talent, and your cost of goods keeps going up. Part of your planning should include an annual business insurance review; call Polaris Risk Management & Insurance Services today! Your business changes, and so do your exposures. Here are some of the major kinds of liability coverage found in mo...


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Does Your Business Need Fidelity Bond Coverage?

Posted by Polaris on Friday, October 17, 2014,
What is a Fidelity Bond?

A fidelity bond, or employee dishonesty, is not insurance but it protects your business against specific losses that may occur from the dishonest acts of employees. The fidelity coverage guarantees that the insurance company will pay the insured business for money or other property lost because of dishonest acts of its employees, either named or by positions.

Why consider a fidelity bond?

We think every business needs a fidelity bond. The costs are very competitive and c...
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Business Insurance 101

Posted by Polaris on Monday, October 6, 2014,
Business Insurance

According to the latest surveys by major insurers, small to medium sized businesses have a number of critical gaps in their insurance coverage. The reasons for gaps vary: not fully understanding how certain coverage applies to their business, buying insurance from a captive agent who can’t provide the coverage, thinking their commercial coverage provides the coverage, and finally believing they don’t have the risk.


Business Insurance for Your Organization

Here are the c...

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Is Your Business Prepared For a Crisis?

Posted by Polaris on Friday, September 5, 2014,

Business owners must take some time to think about many of the risks associated with experiencing a major loss. A loss might come from an earthquake, tornado, hurricane, flood, or fire. Doing a little pre-planning will go a long way in helping your business survive the “big event”.

  1. Get your insurance in order. Your business insurance program needs to have coverage for the risk you face. Is your building near a river? Then you may need flood insurance. Did you know tornados occur in eve...

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Do You Want Your Business To Be On The Cutting Edge?

Posted by Polaris on Wednesday, August 27, 2014,

Keeping your business moving forward requires a lot of your attention. It is important to invest in tools and resources that will allow your business to thrive. Having the right kind of business insurance is important in making sure your assets are protected. In order to keep up with current thinking, here are a few Insurance trends to watch.

  1. More and more firms are buying cyber liability insurance. Cloud computing is becoming more popular. By utilizing cloud-based computing, your data o...


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Proven Ways to Reduce Your Business Insurance Cost

Posted by Polaris on Monday, May 5, 2014,
Saving money on your business insurance is not always an easy thing for many companies to do. You have many options regarding insurance agents and insurance companies that at times can be confusing. We specialize in business insurance. We have a proven track record of providing the right combination of pricing and coverage, along with experience and responsive service for your business.

There are a number of ways to reduce your business insurance cost without jeopardizing coverage. Here are a ...
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2014 Business Insurance Planning

Posted by Polaris on Monday, April 7, 2014,
It is that time of year to set goals, review your business plans and look forward to a prosperous 2014. Part of your planning should include an annual business insurance review. Your business changes, and so do your exposures. After you review some of these items, call our office and we will be happy to discuss these and more with you.

Why Complete a Business Insurance Review?
  • Your exposures may have changed.
  • Laws and regulations may have created new liabilities.
  • Your policy may have had small ch...

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General Liability For Business

Posted by Polaris on Monday, March 24, 2014,
We understand all businesses are unique. Just because you are a small or medium sized business does not mean you are exempt from litigation. All businesses need General Liability Insurance to protect your organization from unforeseen events. General Liability Insurance should be the foundation of your insurance program.
 
General Liability Insurance provides the following coverage:
  • Bodily Injury- Bodily Injury to a third party.
  • Property Damage- Damage to a third parties property (equipment buildi...

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Advantages of an Independent Broker Like Us!

Posted by Polaris on Wednesday, January 22, 2014,
Polaris Risk Management & Insurance Services is an independent commercial insurance broker. This means we don’t work for any one specific insurance company. We have access to many markets, giving us the ability to shop your account and search the market for the best option for you.

There are a number of benefits to working with and independent broker:
  • We provide a number of coverage options tailored to your risk
  • We represent many carriers and are not obligated to any one company
  • We search the m...

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Why is Employment Liability Insurance Important?

Posted by Polaris on Friday, December 27, 2013,
Whether you are a large or small business, the employer – employee relationship has changed. In today’s world, employers can no longer assume all employment relationships will go smoothly. Finding a suitable Employment Practices Liability Insurance (EPLI) program has become one of the single most important things owners and managers can do. Polaris Risk Management & Insurance Services can design products to protect clients against breach of employment contracts, discrimination, wrongful t...
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Three Reasons to Buy Environmental Liability Insurance

Posted by Polaris on Tuesday, November 12, 2013,
Businesses have many different risks and insurance can be an effective risk management tool. However, many contractors don’t often think of Environmental or Pollution Liability Insurance when designing their insurance program.

Polaris Risk Management & Insurance Services would like to offer three reasons to consider Environmental or Pollution Liability Insurance:
  1. There are pollution exclusions in commercial general liability, automobile, and property policies. To fill this gap, Environmental...

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General Contractors; Be on Notice

Posted by Polaris on Tuesday, October 15, 2013,
Residential & Multi-family exclusions on Commercial Insurance Policies

New Construction projects in California and the west are popping up everywhere, and that is great news for everyone. However, we are noticing a trend that should cause contractors to take notice. That is, most commercial liability policies purchased by contractors specifically exclude work on multi-family and residential construction. And this exclusion will cause problems if contractors are performing work on residential o...
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Top Insurance Myths

Posted by Polaris on Thursday, September 19, 2013,
There are many insurance myths floating around, and most of them have been around for years. We want to respond to these myths with clear information, so that you can make educated decisions about your insurance purchases. Innovative Insurance is here to help you better understand insurance and make educated decisions.

Myth One

Having two agents is better because they keep each other competitive.
Having two agents duplicates effort and can create coverage gaps and/or duplications. For example, ...
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Commercial Property Managers

Posted by Polaris on Monday, July 22, 2013,
Property managers like any other business have a need for proper insurance coverage. Property Management Insurance from Polaris Risk Management addresses the many unique risks you face. Let’s face it Property Managers often get caught between the owner and tenants. Property managers are being sued by their own employees but also by staff of the property owner. There is increased litigation holding all professionals to a higher standard, including property managers. Property managers who hav...
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Workers’ Compensation 101

Posted by Polaris on Thursday, June 13, 2013,
Workers' compensation insurance is state-mandated insurance that provides lost income, medical benefits, disability benefits, and rehabilitative services for workers injured on the job or while performing work-related duties. When an employee gets hurt on the job or has a work-related illness, only workers’ compensation will cover them. Health insurance benefits will not provide coverage for on the job injuries. 

Workers’ Compensation Insurance premiums are computed as a direct result of y...

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Cyber Liability….Consider it Now!

Posted by Polaris on Thursday, May 2, 2013,
Over the last several years, cyber liability coverage has evolved from just insurance for information technology companies to coverage that nearly every class of business should have if they don't already. From retailers, investment firms, banks, contractors, distributors, restaurants and medical offices, many businesses are unaware of the great security technology exposure they face. Recent state laws require companies that have experienced a security breach to notify all customers that coul...

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D&O for Private Firms

Posted by Polaris on Wednesday, April 24, 2013,
Many business owners think that their General Liability (GL) insurance will cover their Directors & Officers Liability Insurance exposure. The GL policy is not intended to cover many if not all the issues that can be brought against privately held companies. Many Directors & Officers hold to the belief that if the corporation dissolves their exposure ends. Nothing could be further from the truth. Directors & Officers personal assets could be at risk. Fortunately, Directors & Officers Insuranc...
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Attorneys Errors & Omissions From Polaris

Posted by Polaris on Tuesday, February 19, 2013,

Obtaining professional liability or malpractice insurance is something that most law firms review each year. Litigation against law firms is growing every day. According to the latest numbers, about 10% of practicing attorneys are likely to face an allegation of malpractice in any given year. Dealing with a professional liability claim can be expensive. Even if a lawyer is ultimately cleared, the money spent on defense and resources devoted to addressing the claim, is very costly...


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Welcome!

Posted by Polaris on Tuesday, February 12, 2013,
Polaris Risk Management & Insurance Services is a retail insurance broker dedicated to providing our clients the best in risk management and insurance services.

In addition to our general commercial insurance services, Polaris Risk Management also excels in the following areas through our Specialty Programs:

Attorney Malpractice, Commercial Property, Construction, Cyber Liability, Health Care, Home Inspectors, and Manufacturing. Our focus is to present the most thorough and reasonable insurance...
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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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