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Terrorism Insurance - What it Costs Small Business


The Terrorism Insurance Act of Nov. 26, 2002. This helps businesses who must have insurance from being denied, which would kill those businesses. Our General Liability Insurance Numbers have jumped about $100-300 depending on the market area. But if you consider that there have been no terrorist attacks since 9-11 this is high. For instance you are 500 times more likely to incur hail damage in Colorado than you are to get car jacked by a terrorist if you are driving a fuel truck. The trucker would probably get out and fill you full of buckshot in 2 seconds anyway rendering the terrorist quite incapacitated and/or dead. And if he had been listening to any country singer on the radio at the time, he would probably keep reloading until he ran out of ammo for his 12 gauge. In CO, NE, SD, ND and WY insurance companies paid out over 2 billion in hail damage in 2002.

In my company our franchisees have general liability insurance to wash on properties even if it is just cars.

http://www.carwashguys.com

and also if we are steam cleaning concrete;

http://www.concretewashguys.com

so these are serious issues and since the insurance companies cannot deny insurance to any business for International or Domestic Terrorism you have to ask yourself something. Why are insurance companies spreading the risk to all business liability policies if those other businesses are at no risk? For instance, you can assume places like the Sears Towers in IL, Disney World in Orlando and Las Vegas Strip may be potentially viable high risk locations for possible increased costs, however a franchisee in North East Chattanooga, TN who washes cars should hardly have to pay that additional $300 per year? Reality does not warrant it at all. it is not right, it is not fair and our team and all small businesses are being penalized for no reason and in the middle of a slowly recovering economy too.

Small Business has taken a hit either way in insurance costs after 9-11. Insurance costs have gone up 30% in the last three years, some is due to excessive lawsuits and too many attorneys and a society which thinks it has the right to be irresponsible, yet 9-11 was a huge turning point and it has been going up ever sense, some say as much as 50% in certain sectors.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs


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Insurance - Google News

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General Electric Co. GE -2.93% is considering breaking itself apart, a dramatic move that would mark the end of one of the oldest and largest U.S. conglomerates. The 125-year-old business, which was once the most valuable U.S. company and still employs ...

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How To See The Dentist Without Insurance - NBC 5 Dallas-Fort Worth


NBC 5 Dallas-Fort Worth

How To See The Dentist Without Insurance
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Enlarging insurance pool makes sense - Baltimore Sun


Baltimore Sun

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Dan Morhaim for his continuing focus on improving the state's procurement processes to benefit taxpayers (“Pooling insurance makes sense for Maryland,” Jan. 10). Once again, he proposes an innovative approach to saving taxpayer dollars and improving ...

GE reignites break-up talk after $11 billion insurance, tax hit - Reuters


Reuters

GE reignites break-up talk after $11 billion insurance, tax hit
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GE said it will provide another update on its review in the spring. A decision could come then, CNBC reported, citing sources close to GE, adding that a breakup was “likely.” GE's fourth-quarter $11 billion charge includes $6.2 billion after tax for ...
At GE, $6.2 Billion Charge for Finance Unit Hurts CEO's Turnaround Push New York Times
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Oklahoma Says Farmowners Insurance Program Insurer, Rockingham, not Licensed - Insurance Journal


Oklahoma Says Farmowners Insurance Program Insurer, Rockingham, not Licensed
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The Oklahoma Insurance Department says a farmowners insurance program being advertised in Oklahoma is not valid because the insurer, Rockingham Casualty Company, is not licensed to operate in the state. In early January, Rockingham Casualty and Edmond ...

3.2 Million Americans Gave Up Health Insurance Last Year, Study Finds - New York Magazine


New York Magazine

3.2 Million Americans Gave Up Health Insurance Last Year, Study Finds
New York Magazine
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Number of Americans without health insurance grows in Trump's first year, new figures show Los Angeles Times
The number of Americans without health insurance jumped by 3.2 million in 2017 — and Congress could be to blame Business Insider
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E&S Exit: State Auto's Rockhill Sells Environmental Insurance Renewals to CapSpecialty - Insurance Journal


E&S Exit: State Auto's Rockhill Sells Environmental Insurance Renewals to CapSpecialty
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“CapSpecialty is committed to offering our wholesale brokers and insured customers access to strong environmental coverage, and Rockhill's appetite, products and focus on small to mid-sized business are all well aligned with those of CapSpecialty ...

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