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Larry McSpadden

Recent Posts

4 Hidden Business Insurance Costs You Should Know About

Posted by Larry McSpadden on Mar 21, 2017

When contemplating a possible major accident, lawsuit, fire or cyberattack, it’s easy for an executive or owner to comfort herself with the thought, “Well, we’ve got insurance, so if something happens we’re covered.” While it’s certainly preferable to have insurance in such an event, it’s important to understand that many costs accompanying major losses are not reimbursed by insurance.

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Topics: Business Insurance

A Nonprofit’s Guide to Understanding the Insurance and Risk Management Process [White Paper]

Posted by Larry McSpadden on Oct 03, 2016

1.41 million nonprofits operate in the U.S., contributing $905.9 billion to the economy.

As a vital piece to making the world a better place, your organization can’t afford to be unprotected. But, up until recently good insurance was hard to come by. Twenty-five years ago, many social services organizations struggled to find appropriate insurance coverage, yet they still had to show proof of insurance.

Without industry-specific solutions and consultation to rely on, it was difficult to protect an organization against common risks and hazards associated with nonprofit services / functions. Under such an environment, a relatively simple insurance event could result in detrimental financial losses if the proper protection was not in place.

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Topics: Business Insurance

Workers’ Compensation Insurance Audits: What Business Owners Need to Know

Posted by Larry McSpadden on Sep 27, 2016

Let’s face it: workers’ compensation (WC) insurance is a big expense item for most businesses, and the many rules and procedures involved can lead to frustration. While almost all employers are required by law to carry it, the requirements, rates, and benefit schedules vary from state to state. One procedure is common to almost all workers’ comp policyholders, though: the required policy audit.

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Topics: Business Insurance