Workers Compensation Insurance

Employers’ casualty insurance provides the insurance company with treatment and other compensation on behalf of the employer for the injury or occupational disease that the employee has suffered while working. Most state law, including California, employs employees It is compulsory insurance that you must join.

If you are caught without this insurance, you will be subject to legal penalties such as fines, warnings, prohibition of employee use, and suspension of business. Employee accident insurance protects your business as well as the loss of unexpected employees.

In the case of a private company that is jointly owned by a couple and has no employee, insurance is voluntary, but if an employee occurs, the employee must be covered.

Some people who use roofing, paint or contractor business sometimes use subcontractor. The employer can ask the subcontractor for the employee accident insurance certificate. The employer can ask for the employee accident insurance certificate from the subcontractor. The compensation for damages incurred by uninsured subcontractors will be the responsibility of the original supplier.

In order to insure, the contents of the business to be operated and the career, the location of the place of business, the expected salary to be incurred for one year, and the share of the office and owner are required

The ‘business insurance’ service is the best coverage and low cost insurance for your business. “

IBE Insurance has introduced business insurance to many customers. Many major insurance companies have carefully selected the necessary insurance for their type of business, and are constantly striving to protect their valuable businesses from various risks through blood and sweat.

What is business insurance? Why do I need business insurance? 

Unlike personal insurance, business insurance differs from policy to insurance company, and there is a considerable difference depending on the nature of the business. There are differences in the types and contents of insurance that you join depending on voluntary and compulsory situations such as the liability and obligations arising from the contractual relationship between the property protection businesses owned by the business and the insurance by the government’s enforcement.

In order to protect the rights and interests of policyholders due to this diversity and complexity of business insurance, each state requires insurance through an authorized professional insurer.

With the diversity and complexity of these business insurances, you must get the most appropriate service with the help of insurance professionals. However, it is also necessary for the contractor to verify whether these contents are appropriate for my business.

Types of insurance required for general business

(1) Property Insurance: Compensation for damages directly caused to a property of a business by an accident such as a fire, and monetary damages caused by failure to do business due to this

(2) Commercial General Liability Insurance: Compensation for defense costs and the amount of judgment on various lawsuits and claims filed in the business.

(3) Product Liability Insurance: Compensation for damage caused by goods sold or services provided.

(4) Personal and Advertising Injury:

In addition to these insurances, you can join various insurances as needed, and please contact IBE Insurance’s commercial team for any future business considerations.

Professional Liability– Professional accident insurance is a protection that professional workers can take in case of accidents.

Employment Practice Liability (EPLI)- Coverage is available for legal costs to defend claims involving sexual harassment, wrongful termination and discrimination including legal liability for such acts

Boiler & Machinery- This is to protect property damage caused by machinery damage related to the boiler. It does not include damage caused by neglected maintenance.

Foreign Liability- Coverage can include property, liability, automobile, appropriate workers compensation and inland marine for plants, equipments, distribution centers and operations outside the U.S.

Transit / Inland Marine – Inland Marine Insurance covers product that is either owned by the insured or a customer of the insured while it is being transported. The product may be on the insured’s vehicles or on others.

Manufacturing companies should consider this coverage for raw stock, equipment and supplies to be received and finished inventory being delivered.

Crime and Dishonest Insurance-Theft insurance must be accompanied by an additional fire insurance and anti-theft alarm. You can also sign up for additional insurance for financial losses due to employees’ dishonesty (Employee Dishonesty).

Directors & Officers (D&O) – D&O insurance insures corporate directors and officers against claims, usually by stockholders, alleging a loss arising from the mismanagement.

Builder’s Risk-It is the insurance that you must join in order to protect your property from the disaster that may occur during construction.

Transit / Inland Marine-It is the insurance to protect the fire damage or the theft damage which occurs during the transportation of goods.

Umbrella (Excess) Liability – Umbrella provides excess liability limit over the scheduled underlying policies. It also fills gaps in the underlying coverage.

ERISA bond (Fiduciary Liability)  – This pays, on behalf of the insured, legal liabilities arising from claims for alleged failure to prudently act within the meaning of the Pension Reform Act of 1974.

Employee Benefit Liability- Coverage for administrative error and omission on employee benefit plans such as medical, dental, and other supplement benefits.

Pollution Liability – Coverage reimburses for costs associated with remediation of contaminated property or operations, including costs of cleanup at third party demand or government order.

“Health insurance is one of the absolute necessities for people who are important individuals and families.”

Individual health insurance for individuals who do not have government insurance, such as group health insurance through work or Medicare, Medical.

PPO

Each insurance company can receive contracted doctors and medical services through the hospital. Unlike HMOs, I do not have the concept of a primary care physician, and I do not have a specialist recommendation.

HMO

Unlike the existing PPO concept and structure, you need to select your doctor, and you can make all medical diagnosis and consultation. You can also get recommendations for the specialist you need.

Obamacare

Obamacare (Patient Protection and Affordable Care Act), which is a federal law that was passed in 2010, was legislated in order to provide affordable health insurance to more Americans. You cannot be denied enrollment even if you have preexisting illness, and all Americans can receive health insurance benefits.

If you fail to enroll in health insurance, a penalty is imposed, and the penalty amount is increasing every year.

IBE insurance experts assist clients free of charge with insurance enrollment through Covered California, which is California’s health insurance marketplace.

Medicare Advantage Plan:

Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare. If you join a Medicare Advantage Plan, you still have Medicare. You’ll get your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage from the Medicare Advantage Plan.

Medicare Supplement Plan:

A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn’t cover, like copayments, coinsurance, and deductibles.

The above benefits apply only to persons with Medicare Part A and B.

It is recommended that Medicare be prepared approximately five months before age 65.

With our long experience and knowledge, IBE Insurance will provide you with the best care and affordable group health insurance plans for your employees. You can also choose a Covered California Small Group program, SHOP Plan.