Sunday, March 31, 2013

Professional Liability Is Not General Liability

What is Professional Liability Insurance? Why it is not covered in a General Liability insurance policy? Why do Property Managers, Lawyers, Real Estate Agents, Architects and Travel Agents need Professional Liability insurance? Most service professionals are not aware of the financial hardship they create when the wrong terminology is interjected into a contract or an error in scheduling travel arrangements creates a costly delay. These are brief examples of occurrences that are typically covered under Professional Liability.

Professional Liability is insurance against contractual financial hardship, also known as Errors & omissions insurance (E&O). These policies offer coverage for professional service providers who inadvertently omit something or state something in a contract that causes financial hardship for one of the named contractual parties. As long as the party who created the hardship did not commit the infraction intentionally, a typical Professional Liability/Errors & Omissions insurance policy wills payout up to the policy limits. Usual policy limits are $1MM per claim with an annual aggregate payout of $2MM meaning that an insured can have 2 $1MM claims within one year and have sufficient coverage.

General Liability is coverage for a business or commercial operation protecting it against bodily injury and property damage inflicted to others by an employee or representative of the business. The best correlation is liking General Liability to Auto Liability. Auto liability insurance, required by states, pays for medical expenses and property of others, you caused and damaged, while legally operating your vehicle. This is the same principle of commercial general liability. General Liability, like auto liability, does not cover ANY type of financial hardship inflicted to others.

An important detail to look for in your Professional Liability policy, whether you are currently covered or you are shopping for your first policy, is how defense costs are paid in the event of a claim. Insurance companies offer two options: included within policy limit or paid outside of policy limits. Usually, policies with defense costs outside of the policy limits are issued from more preferred carriers for more preferred risks. When defense costs are included inside the policy limits, the policy is typically geared towards higher risks from less than preferred carriers.

Example: an architect designs an office building; begins working with a general contractor; the general contractor has time limit triggers in his contract with the project owner; due to an unforeseen design flaw/material conflict the general contractor cannot meet his contractual timeline; this costs the general contractor lost revenue of $650,000; the general contractor files a claim against the architect for lost revenue (financial hardship); the architect's Professional Liability Insurance company begins his defense; the policy limits are $1MM per claim with a $2MM aggregate; the policy states defense costs are within the limits allowing $350,000 for defense costs ($1MM less $650,000 damages = $350,000 remaining amount for legal defense); option 2, if defense costs are outside of limits, the architect would have a full $1MM to cover claims regardless of defense costs.

Professional Liability is what every service professional hopes never is never claimed against. It means the professional did not perform his/her due diligence in crafting an effective contract. However, service providers, without PL coverage, are leaving themselves open for possible large claims which could end the business they worked so hard to establish.

Comments are greatly appreciated. What do you like or dislike about this topic?

Friday, March 29, 2013

Retail Space Ready And Available For Your New Business

Are you looking for a property to start up your own business? Finding the right retail space with Hi-Reit is an important part of entrepreneurship, and a choice that could make or break your business.

Location, Location, Location

There are property management companies that offer property leases at locations that are strategically placed in order to provide plenty of customers. Traffic flow patterns often compliment their buildings, and these buildings are pleasant to the eye, and inviting to clients. These properties are also energy efficient and are affordable, making them ideal for your business.
It can be difficult to find properties that meet both the location need as well as the space need. However, there are plenty of available locations that do meet these specific needs. You can find places as large as 10,000 square feet.

Property Management

Property management does more than offer leases to business owners. They also help take care of the building and surrounding landscape. All maintenance needs are taken care of in a reasonable amount of time, and you can rest assured that your place of business will stay at a comfortable temperature for your customers and employees—not too hot and not too cold. A management company hires the companies who clean, update, and take care of the buildings and manicured lawns. If there are any eyesores, they can be reported to the manager and they are taken care of quickly.

A good management team will also be very easy to work with. They often provide excellent customer service, putting the needs of their clients above their own. In fact, their entire business platform is to satisfy their clients just as you are trying to satisfy your own.

Retail space with Hi-Reit has on-site property managers. This means that they are physically there and ready to assist you with any maintenance need you may have.

Tuesday, March 26, 2013

Why People Today Are Going For Internet Shopping More And More

Today, more and more people are going for internet shopping or online shopping to solve their everyday needs. There are some benefits that come with this kind of shopping and these benefits have driven people to move from the traditional methods of shopping to use internet platforms. Shopping on the internet basically involves having buyers and sellers coming together on the internet and doing business online without having to meet in person. Goods and services can switch hands and money can also switch hands without people having to move from one place to another. The benefits of this kind of shopping are simply a lot.


Probably the biggest advantage of internet shopping is that it is convenient and makes shopping very smooth and easy for anyone. You do not need to move from the safety of your home or the confines of your office if you are looking to purchase something. All you have to do is make a few clicks online and you will be able to have something delivered right where you are. This convenience gives people the reason to rely on online shopping as compared to other traditional methods of shopping.


Internet shopping is very helpful because with this kind of shopping, one does not need to worry about moving from one shop to another while looking for something they might specifically like or want. On the internet, one can view many available options and this makes things very easy. You can look through many online stores within a very short period of time and you will not need to move tirelessly from one shop to another.

Better prices

Since the costs of having internet shopping platforms are lower than the costs of having physical selling platforms, the prices of the items sold online also turn out to be lower. Most of the goods and services that are sold online are much cheaper than those that are sold physically or in person. The costs incurred online are not as heavy and this is good for buyers because it allows them to get more goods and services for less.

Conducive timing

There are times when you might be planning to purchase something late in the night and you need it urgently. If you do not have an online option to purchase the item, it becomes very difficult for you because you might need to wait until the next day to be able to purchase that item. With internet shopping, you do not have to wait that long and you can make your purchases anytime during the day or night. This means that you do not have to rely on the times that the stores or shops will open or close but simply on when you can access the internet and make your order for whatever you are planning to purchase. The issue of timing is actually very beneficial if you are hoping to purchase something on a short notice.

Monday, March 25, 2013

Upper East Side

The Upper East Edge in New york city City is understood for dazzling residential, and it's the area to go if exactly what is desired is a dapper brand-new spot to live. The Upper East Edge is where every fad starts that is worthy of imitation. Individuals go there to be explored and be taken fashionable and popular, and that is precisely the explanation that a lot of celebs invest a lot time there.

The Upper East Edge's specialty is the truth that it is a rich borough that rests in between the East Waterway and Central Park. Central Park performs one side of this community with 59th Road and 96th Road beyond. As individuals look at the opulent realty options that are in front of their eyes, they understand that there is no any other community that has Manhattan apartments quite as unique, and proof of this is the truth that the Olsen Twins, Brad Pitt and Tom Cruise have preferred to live there. This area additionally has range on its edge due to the fact that unique individualities like P. Diddy, Eleanor Roosevelt, the Marx Brothers and Woody Allen all used to reside on the Upper East Side. For long times, numerous personalities resided in this area, yet this location is a place that has something to offer those that aren't stars and starlets.

"Gallery mile" simply takes place to be on the Upper East Side, and it includes the several well-known galleries that are prominently shown along Fifth Avenue. Just some of the excellent museums that line this well-known street are the Metropolitan Museum of Art, the Jewish Gallery, the Guggenheim Gallery, the Czech Center New York and the Cooper-Hewitt National Design Museum. Those that prefer to purchase Manhattan apartments on Carnegie Hillside will certainly be in close proximity to the City Museum of New York that is practically located right in their own yards. Don't believe that the Upper East Edge just showcases famous artists due to the fact that new craftsmans could discover a house for their productions at the Frick Collection where lower well-known European musicians are currently showing their prizes.

The museums run out this globe, but so are the restaurants and high end co-ops that don't do the location's residents the injustice of requiring them to see garages or yards in the front of these households along Central Park and Lexington Opportunity. When people set foot in Yorkville, they actually learn what diversity indicates, and they discover the meaning in an area that is replete with past and liveliness. It's the spot where Czechs, Jews, Hungarians, Germans, Lebanese, Polish, Slovaks and Irish all co-existed harmoniously during the 1800s and 1900s.

Every swank outlet owner has to have a shop on the Upper East Edge on Madison and Fifth Avenues, and every severe buyer needs to be able to say that she saw this buying district at least once. Donna Karan Nyc, Ralph Lauren, Giorgio Armani, Valentino Dress shop and Calvin Klein all have stores right here. Exists everything delegated say? Customers will certainly feel completely satisfied after they invest a successful day finding new and unique clothing they couldn't locate anywhere else, and they will likewise have the delight of seeing the fascinating personalities that walk down exchanges.

For Manhattan flats that have just the most enviable facilities, check out the Upper East Edge.

Friday, March 22, 2013

How Debt Consolidation Loans With Bad Credit Can Solve Your Financial Problems

It is an unfortunate truth that more and more people are struggling to meet their monthly debt repayments, and that an increasing number are applying for bankruptcy. But there are more constructive solutions to this problem and, in many respects, seeking a debt consolidation loan with bad credit is more desirable.

The reason that bankruptcy should be a last resort is that the consequences can be severe and last a significant length of time. This is mainly because it involves writing off debts without actually repaying them. But consolidation makes clearing debts immediately more practical, and with no great damage to a credit reputation

But as with all loans available, there are conditions to getting debt consolidation loans, and securing the right terms is essential if the exercise is to be of any real benefit.

Consolidation Explained

So, what exactly is consolidation, and how can getting a debt consolidation loan with bad credit be of any really benefit to a borrower? While some might say taking on a new loan is a negative move, the benefits are pretty clear.

The key concept behind consolidation is that funds are secured to buy out the existing debts in one go. By clearing debts immediately, and replacing them with a single, more cost-effective and more manageable debt, the pressure to meet repayments is lessened.

Simply put, 4 individual loans will each come with 4 individual interest rates that together prove to be more expensive than a single interest rate on a single loan would be. So, a debt consolidation loan can be used to lower the pressure to meet monthly obligations.

Key Advantages of Debt Consolidation

Of course, while making monthly repayments easier to meet is a definite advantage, there are more benefits to be enjoyed. For example, even getting a debt consolidation loan with bad credit presents an opportunity to achieve an improved credit score.

This is because repaying any debt affects the credit report, and ultimately improves the credit score a borrower has. By clearing debts immediately, the improvement can be significant with 3 or 4 or 5 loans all being repaid in one go.

However, there is also a significant improvement in the debt-to-income ratio of the borrower. Depending on the terms of the debt consolidation loan, the monthly obligation can fall by as much as 50%. In some cases, the term of the loan is a lengthy 30 years. This slashes the size of the repayments, thus increasing the excess income available.

Choosing The Right Debt Consolidation Program

So, how can an applicant find the right terms, and the right consolidation program? Well, it does depend on your specific debt, but the good news is that securing a debt consolidation loan with bad credit is not a major feat. After all, the purpose of consolidation is to help bad credit borrowers anyway.

Qualifying for these loans comes down to criteria that are similar to those for regular loans, but there is usually an insistence that full-time employment be held for at least 6 months before submitting the application. The advantage of clearing debts immediately makes the wait (if necessary) worthwhile.

And like so many financial products, the best place to get a debt consolidation loan is online where a selection of professional debt consolidation companies can be found. However, check their terms and conditions closely as a fee is required for their services, which can affect the effectiveness of the consolidation agreement.

Sunday, March 17, 2013

Student Loan Consolidation Programs: Fast And Effective College Debt Repayment Method

There is no denying the cost of attending college is not cheap. Unless a scholarship can be secured, there is little chance of getting through a 4-year course without requiring a number of loans to finance tuition and living expenses. The good news is that student loan consolidation programs make the task of repaying those loans much easier.

By the time graduation comes, the average student in the US faces $30,000 debts. This statistic means practically every graduate begins their working life in debt, and never really gets out of it. Clearing college debts, therefore, is a priority, but finding an affordable way to do so is the trick.

But through consolidation, which allows for the repayment of a number of student loans in one go, the most affordable method is available. However, there are some issues to consider before signing up to one.

The Mechanics of Consolidation Programs

The way that student loan consolidation programs work is to clear all of the existing individual college loans through a single consolidation loan. But while this may seem like replacing multiple debt with one other, there are factors that make it a highly-effective cost-reducing option.

On average, students take out between 4 and 6 loans over the course of their college careers. This means that as many as 6 interest rates and 6 different repayment schedules have to be managed. This means a complex and highly expensive financial arrangement, making the challenge of clearing college debts as difficult as it can get.

But replacing 6 loans with one creates a less complex arrangement, and because there is just one interest rate to worry about, the cost of the debt is significantly lower too. Often the student loans are replaced by a long-term consolidation loan, ensuring the monthly repayments are kept to a minimum.

The Benefits of a Program

There are several short and long-term benefits to be enjoyed by opting for a student loan consolidation program. The most obvious is that the debt accrued in college is repaid in full, but there is more to it than that.

Consolidating loans provides a chance to free up extra cash. Clearing college debts is accomplished, but the cost of repaying the consolidation loan is much lower than the original loans. If there are 6 loans with 6 different interest rates charged, the total repayments may be as high as $1,000, but this could fall to just $400 depending on terms.

Once the student loans are repaid in full, the credit score of the borrower is adjusted upwards. It does not matter than a loan was used to repay the debts. All that matters is that the individual loans were cleared. And with better scores, lower interest rates are charged on future loans.

The Affordable Repayment Option

The bottom line is, of course, that through student loan consolidation programs, crippling student debts are finally dealt with. But the terms of the program have to be right to ensure the maximum benefit is enjoyed. The lowest possible monthly repayment sum makes the deal as affordable as possible.

There are options that ensure that the repayments are kept low. The first is the interest rate, and searching for the lowest rates may require some time spent online. Thankfully, the development of comparison sites mean that chore is now easier than before.

Clearing college debts efficiently is also accomplished by choosing a consolidation loan with the longest term. This means the principal is divided into a greater number of shares, therefore greatly lowering the monthly repayment sum.

With terms as long as 30 years available, the repayments can be extremely low, and once that is accomplished, and the student loans are paid off, the pressure diminishes to almost nil.

Friday, March 15, 2013

Major Uk Payday Loan Lender Taken Over By An American Corporation

Bury St Edmunds based Fortress, founded in 2004, continues to grow fast to turn into considered one of the UKs major cash advance lending businesses. Fortress is an fully online loan provider, and was set up with very best of breed IT techniques and compliance processes to let it to be scalable. It is growing rapidly since creation and a current review found it to be one of the leading five players in the industry. Fortress, which sells under the brand name 1 Month Loan offers quick unsecured loans to private individuals generally known as payday loans as they are designed to be paid back on payday. Such lending products have higher interest rates but their expense compares more positively to unauthorized overdraft facilities and they are a great deal easier to obtain than bank funding. For the consumers they are easy and confidential.

The business, which works totally online and sells under the name "1 Month Loan", was launched in Cambridge in 2004 but moved in 2009 to Bury, where it presently employs about 50 men and women. The value of Think Finance's purchase is not being disclosed, but Fortress chief executive Kieran Moulden claimed that, as a consequence of the new finance, the corporation planned to increase its internet business 10-fold, and increase its labourforce to between 150 and 200 over the next two years. These work opportunities would all be primarily based in Bury, he added, with the village having been determined in 2009 as an great place for growth and there being no plans to move or start offices in a different place as a consequence of the company's purchase.

Payday credit is a mature industry in the Usa without a doubt there are a lot more payday lending shops than there are branches of McDonalds. The UNITED KINGDOM market is less developed but rising swiftly and is attractive to US acquirers as shown by the new arrangement by NASDAQ listed Dollar Financial Corp to purchase Purpose UK Holding the biggest UK payday lender for ?124M

Think Finance is certainly one of the USs best growing non-public businesses with three year profit growth of over 70% . Think Finance delivers revolutionary financial solutions which supply under-banked consumers with superior solutions for their financial demands mixing comfort, affordability, and transparency. Set up in 2001, Think Finance has served over 1 million buyers. The firm is privately held and backed by some of Silicon Valleys most respectable venture capital corporations, which includes Sequoia Capital and Technology Crossover Ventures. Think Finance will offer capital to support Fortresss enlargement. All of the Fortress Directors will remain with the company to direct its development.

Tuesday, March 12, 2013

Good Reasons For You To Consider Using Payroll Software

Owning a business naturally means having someone or some people work for you. And of course, if you have hired someone to be part of your company, you will need to give them their salary. This is where payroll processing comes in. What most company owners don’t like much about payroll processing is that there are a lot of things to be considered and done in organizing employees’ paychecks, such as tax contributions, deductions and superannuation. In addition, as the business grows, the harder and more complicated it becomes to keep track of paychecks. The good thing, though, is that there are various types of payroll software programs now available for any type of business. You may be wondering why you should prefer using this software than any other alternative.

For Convenience. By using a computer program that will keep a record and monitor all the aspects of your payroll for you, you can easily distribute your workers’ salary wherever you are. You just need to have a laptop with you and all the information you need about your staff’s payment will be accessible. As a result, your employees won’t have to keep waiting for their salary, and in your case, you can focus on the other important aspects of your business.

More Accurate Forecasting. Computerized payroll service or using payroll software will allow you to see all the specific expenditures in various areas with just a click of the mouse. In case you are planning to hire another employee, you may easily gauge the impact of an additional salary on the flow of money in your company or business. This way, you could make an assessment of the viability of the decision you are to make.

Less worries on tax. During the tax season, you wouldn’t need to chase up records and pay slips which you may possibly have not kept in order. All you need to do is get a copy of the file by burning a CD or even forwarding the file to your accountant through email. What you will love about it is that you will be having a computerized record of tax that is free of any human error.

Easy to use. The processing of payroll actually requires skills and educational background. If you don’t think you can afford yet to hire a professional to handle your payroll, getting payroll software is the perfect solution. These types of software programs are meant to be very user-friendly. Plus, mkst of these programs have a troubleshooting service so that you can seek help anytime there is trouble with the software.

Availability of a back up copy. One of the most important aspects of payroll is the fact that such documents need to be kept for at least 7 years. Employers need to be able to have a copy of such records for that length of time, which can be really hard to do. But with the payroll software, you will be able to store all the necessary data and information in a very secure location, which you may also access anytime you want.

Monday, March 11, 2013

The Definition Of Revenue Assurance

In the telecommunications assurance industry, revenue assurance can make reference to numerous activities and vocations. It can imply a specific activity performed by a telecom service provider, but it can just as quickly point to small business unit which deals with such an activity. Specifically, revenue assurance in the telecommunications industry is understood to be the practical response to noticeable or definite issues in regards to the underperformance of operations as they connect with the collection of revenue, in addition to revenue management and billing.

Hence, dependent on a specific company's structure, revenue assurance might be a separate department, but it can just as quickly be a wide-ranging set of responsibilities delegated to several departments or business units. What, exactly, falls inside the spectrum of revenue assurance varies between telecommunications providers due to four certain criterion:

The cross-functional elements of revenue assurance, which consists of several skills drawn from finance, marketing, IT, and other departments.

- The the demographics of generalizing across units and organizations with different types of objectives, structures, and models.

-Internal political conflict with regards to the responsibility for billing assurance, telecom fraud, revenue leakages, and so forth.

- The the demographics of accurately quantifying the value added by revenue assurance over and above that involving underlying performance.

Most obviously, no true consensus has been obtained pertaining to the exact limitations of revenue assurance and the aims and techniques of revenue assurance vary widely. Simply put, revenue assurance refers to the advancement of a telecom company's financial performance through the reduction or elimination of mistakes in data processing. Although this is commonly done through business analytics, some instances involve developing fraud management systems. However, revenue assurance generally optimizes revenue from retail and corporate sales, profitability and margins as they relate with any investment in network and information systems, and the costs and revenues from wholesale, and the interconnection of contracts.

For the majority of telecom companies, revenue assurance provides a low-cost means to generate significant financial returns. Nevertheless, this can be tough to predict and difficult to quantify, resulting in more than one skeptical executive. Though revenue assurance can be useful in other fields when correctly executed, it is more useful in the telecommunications industry for three reasons:

- The complexity of computing the collective effect of systems and processes as they interact with one another.

- The extremely high-volume and inversely low-volume of telecom transactions entails that the financial significance of slight mistakes are magnified.

- Its rapid rate of change, which facilitates intense competitiveness, and thus boosting the potential for errors.

Finally, it is important to remember that there aren't any particular guidelines or regulations concerning revenue assurance, which also implies there is no governing body to help determine the best practices. Having said that, there are three special disciplines of revenue assurance that should be exercised by a telecom provider to stimulate enhanced profitability, including:

- Monitoring, Baselining, Auditing, Synchronizing, Investigating, and Compliance-also known as the CORE functions of revenue assurance.

-The Revenue Management Chain, which decomposes a company's revenue assurance scope.

- Evaluating and reducing revenue loss risk.

Friday, March 8, 2013

Learn How To Deal With Whitening Of Black Money

Black money is made against the law from the underground community and there's an urgent necessity to battle whitening of black money. The taxes of black money is certainly not paid, and this has an incredibly undesirable effect on the overall economy. The authorities needs to have the income to run all its services which are allowed to it's people.

There is numerous black money placed in foreign accounts. Even though the funds is delivered back to the country, it is not reported to the government and the government continues to lose revenue. No matter how the funds was obtained; illegitimately, through bureaucratic problem or political problem, it's still black money. Black money also is produced by black market. Black money has long been distributed in the formal market and in the parallel black market, which oftentimes make it hard to steer clear of the vice. Whitening of black money is very rampant, and it appears to be growing every day.

Whitening black money indicates that the government is promoting the vice, and that is the government has been doing to make certain that the vice will not spread even further. This increases tax evasion, and it promotes further acquisition of the black money. It promotes corruption as the government knows what exactly is happening, but it can't do something.

White of black money can be reduced by reducing the disincentives towards voluntary compliance. Any additional tax costs that the government charges on companies cause businesspersons avoid tax leading to black money . Confusing polices and procedures get people to evade taxes. One way of decreasing the possibilities of tax evasion and black money is minimizing a few of these laws and lowering the cost the businesspersons need to pay. The procedures needs to be made a little easy for the entrepreneurs so they don’t result in the tax evasion and underground community and black economy.

Liberalization of economy is also another way of reducing whitening of black money. Long delays in obtaining licenses and permits are what exactly make persons to end up with black money. The good thing is to reduce the long methods. Liberalization is exactly what stimulates compliance and enables the government to collect taxes and cater for all the services that its services need.

The National revenue board should be strengthened to achieve all the potential income taxpayers and this should be carried out without having bias, regardless of whether racial, political or even economical. It doesn't matter if the money is white or black. So long as the money is taxable. It should be taxed. The body that copes with corruption must be strengthened to be capable to handle all of the corruption issues.

Right now that you know what exactly lack cash is all about, you need to avoid the vice as much as possible. The judicial system is trying to have all cases executed without having bias or favor. The most crucial step that the government should take is to stop shielding the criminals and dealing accordingly with the ones that have already been caught. For the good of the economic climate, we should all condemn this.

Thursday, March 7, 2013

E and O Insurance Offers Great Value

E&O insurance is short for errors and omissions insurance. It protects a business for a services that were not provided or did not reach the expected results. It covers a business for errors or omissions made or the client perceived them to make.

All best-known professional businesses need this insurance, including lawyers, doctors, accountants, engineers, advertising agents, and web hosting companies. All businesses providing a service to their clients for a monetary charge need to have this insurance. Businesses need to consider if a service provided is not done properly, and it results in not only financial loss, but damage to the reputation of the client.

All companies make mistakes, it is a known fact. A freight forwarding company accidentally sends a time sensitive delivery to China instead of India. This results in the Indian client losing the sale, and holds the freight forwarder responsible for their loss. The client loses the sale and their reputation is tarnished. This loss is not covered by general liability policies, so alternative measures need to be created.

All companies should buy this insurance before a risk occurs. If a company knows it has professional negligence exposures, it should be included in an insurance portfolio. It also gives clients a feeling of protection, understanding they will be provided compensation for an error or omission.

There is no standard policy as various companies have different exposures. The policy needs to be read to make sure correct coverage is provided. Every business must find an insurance professional that understands the coverage and current marketplace.

E&O insurance offers protection for a business in the event a professional negligence error has caused loss to a third party and they hold the business responsible. Coverage often covers judgment, settlements, as well as defense costs. Without this insurance, if a professional negligence claim is made, it can bankrupt a business.

Tuesday, March 5, 2013

What Types Of Liability Insurance Policies Might Your Business Need?

Commercial liability insurance covers you for risk. Every business has some form of risk. Your risk may be so small you may not need to buy insurance. But before you make that decision for yourself, you need to know what liability insurance covers you for.

The first type of insurance you need to consider is General liability insurance. GLI covers you for accidents that damage property and injure people. There are many documented cases of millions of dollars in damages being awarded as a result of claims being brought against businesses. If you think big business is the brunt of these lawsuits, you're mistaken. Many small businesses have also been sued and been forced to pay $1 Million dollars in damages or more.

If you are a store owner that has a physical location where customers visit, you probably need GLI. If you are a building contractor or other type of independent contractor who works with expensive material or around other people, chances are you will need at a bare minimum, a general liability insurance policy.

But this policy may not be enough...

If your business gives professional advice and services, then you may also need another form of commercial insurance, called Professional Liability Insurance. This is sometimes called Indemnity insurance or Errors and Omissions Insurance.

Professional liability insurance is different than GLI but most businesses buy these polices from the same insurer. Professional liability insurance covers you for things like failure to deliver services as promised, and damages from mistakes.

Here's an example of why it is important to consider both of these types of insurance...

Let's say you run a small computer shop in your town. Customers come to you with computer problems and to buy your custom made computers and retail accessories. One day a customer is in your shop and trips over a printer cable that one of your workers left sticking out from behind a counter. They hurt their back and they are out of work for months, costing them thousands of dollars in lost wages. In addition, they have some $50,000 in medical bills that their health insurance provider will not pay, since their attorneys determined it was your fault.

Guess who's liable in this unfortunate situation? That's right, your company -- otherwise knows as YOU. In this case, if you have general liability insurance then your insurance company would cover the cost of the settlement or judgement. The policy would also cover the legal costs involved with the case. Without this policy, you could personally be responsible for all the damages as well as the legal fees.

Now let's say you had GLI and you were covered for everything from that claim. Great news, right? No so fast Bucky...

Remember that employee who was somewhat responsible for the accident? Well he was so flustered that morning that he formatted the wrong hard drive and lost all the data on your most important client's laptop. Years of crucial data, family pictures and videos, business spreadsheets, passwords, credit card information and more. All wiped out in a flash.

Does general liability insurance cover you for that?

Sorry, it does not.

For something like that your business would need professional liability insurance. Remember, that's the policy that covers businesses and contractors for mistakes. And this was a big one. The client wants $100,000 for damages in lost time and business due to the data being wiped out on his computer. Many small businesses cannot absorb a loss of this magnitude and many companies have had to close up shop due to claims like this. Don't let this happen to your business.

Now that you know what types of Commercial Liability Insurance policies are available to you and what each covers, you can prepare for situations like this. Consult with an insurance agent or broker who handles business policies and determine the types and levels of insurance that are appropriate for your specific needs. Invest in the right policies and you'll have peace of mind knowing you are covered for anything that might happen.

Friday, March 1, 2013

Get Help From Maple Leaf Debt Helpers

The economic situation in Canada is struggling to make progress and pull through from the terrible economic nightmare in the country’s history. And in the meantime, millions of Canadians all over the country are still held-up in debt and looking for ways to get rid of their overwhelming debt. Fortunately, the country has sufficient resources to provide debt relief to this struggling section of the society. There are solutions and alternatives provided by some institutions that recognize the predicament of the millions of people in this sad and unfortunate situation. With the proper channel to the right institutions willing to help, it is never too late to take back the reins and gain back control of their lives out of misery.

The key is doing some due diligence on where to get help to ease your burden. The right professionals should be able to draw a restructuring plan for your debt repayments in such a way that it will strangle your financial resources and not leave any for other basic needs. You need to find the right institution and people who will exert an effort to understand the appropriate option you can take to gradually get to the road to freedom from debt. And such is what is offered by Maple Leaf Debt Helpers, one of the country’s recognized authority when it comes to matters of debt consolidation.

And since each person’s debt situation is unique and different, there could be no uniform way of formulating methods to stay out of debt. The experts in debt consolidation will devise a plan that is specifically suited to your situation, needs and requirements. Getting rid of debt is a long-term goal involving a long-term process. And such process should have taken into consideration the over-all impact in your life as a whole. Imagine tying up a big bulk of your income to debt repayment scheme which in essence will practically send you to bankruptcy. This kind of assistance or relief is not the kind that is sensitive to the difficulties faced by people in debt like you.

Their expertise is on debt consolidation. This means that Maple Leaf Debt Helpers can help you work out your accumulated debts to be consolidated under one payment only. This can be done by availing a loan, the amount of which will cover all the existing debts including the corresponding interests. So instead of making multiple payments to multiple debtors, you only pay to one debtor. The advantage this method offers is a much lower monthly loan repayment as it will be structured based on your financial capability and this kind of loan has a low interest rate. To protect their interests, the lending institution will require a collateral against the loan and the loan tenor will be longer.

Debt consolidation is not the only available and possible way to manage your debt. Other alternatives are consumer proposal and debt settlement, both of which require help from the professionals. As a start, it will be best to avail of the credit counseling services if offered since this process will provide you with a better picture of how you stand financially considering all your debts against your income. The credit counselors will evaluate and determine your economics and offer solutions on how your debt situation can be relieved. Knowing these basics is important in making a decision as to which option may work best considering your circumstances.