Navigating Business Interruption Insurance Essentials
Running a business involves navigating a constant stream of challenges. From managing inventory to keeping employees happy, there’s always something to keep you on your toes. But what happens when an unexpected event throws a wrench into your operations? Business interruption insurance (BI) can be a valuable safety net in such situations. Let’s explore what…
Effective Loss Control to Reduce Insurance Claims
Business risks take many forms, such as cyber threats or even workplace accidents. These risks can cause significant financial loss, operational downtime, and reputational damage. While insurance can protect you from these risks, frequent events can cause your premiums to skyrocket. This is where a proactive risk management strategy like loss control can help. Here’s…
Demystifying Experience Modification Factors (EMODs) for Business Owners
Experience modification factors (EMODs) can confuse business owners, particularly those new to workers’ compensation insurance. Keep reading to learn about EMODs, their purpose, calculation, impact on your business’s insurance premiums, and actionable steps to improve your rating. What Are EMODs and Why Are They Important? An EMOD is a numerical rating assigned to a business…
Tailored Insurance Solutions for Small Businesses
Exploring Custom Coverage Options Running a business is an exciting venture, but it also comes with inherent risks. From property damage to customer lawsuits, unforeseen events can disrupt your operations and financial stability. That’s where business insurance steps in, providing a safety net for these unexpected challenges. However, the one-size-fits-all approach often falls short for…
Proven Strategies for Improving EMOD Scores and Reducing Insurance Costs
In this post, we’ll explore effective strategies for improving EMOD (Experience Modification Rate) scores, which ultimately leads to reduced insurance costs. At Cell Brokerage, we’re committed to helping businesses optimize their EMOD scores and save on insurance expenses. Understanding EMOD Scores EMOD scores are used by insurance companies to adjust workers’ compensation premiums based on…
How to Manage Risks and Reduce Your Commercial Insurance Costs
Businesses of all sizes face various risks. This could include theft, property damage, and legal claims. Commercial insurance can help manage them efficiently. However, it’s important to balance coverage and costs while choosing the plans. Read on, as this guide will help you learn how to reduce risks and the total cost of your commercial…
The Role of Big Data in Shaping Auto Insurance Trends
There’s so much data floating around in the world today. We can use our cars or our smartphones, and in doing so, we create a digital footprint. Because of this massive collection of big data, industries are changing, and that includes the auto insurance industry. Insurance companies can harness big data to get even more…
The Latest Strategies for Comprehensive Device Insurance Coverage
Smartphones and other devices have become a necessity in recent years. In fact, the US smartphone penetration rate has reached around 90% in 2023. This increased reliance on gadgets shows the need for insurance. Fortunately, insurers have created comprehensive device insurance policies covering various damages. Read on to understand the available options and strategies to…
Exploring Specialized Options in Auto Insurance
Standard auto insurance provides a sense of security for the majority of drivers when driving. But what if your car doesn’t quite fit the usual expectations? Whether you’re rolling down the streets in a vintage beauty, sharing the ride expenses with a buddy, or taking on rugged terrain in a sturdy vehicle, regular insurance might not cover…
Adapting Auto Insurance to New Risks: What You Should Be Aware Of
With the rise of self-driving cars and ridesharing, the automotive landscape is experiencing a great shift. This change, while exciting, brings new risks for consumers. Traditional auto insurance may not offer enough coverage for these challenges. Here’s a look at the new risks and the efforts taken by auto insurance providers. Limitations of Current Auto…