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Murphy Insurance News & Articles

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Ordiance or Law Coverage for building code changes

Changes to building ordinances and laws can result in requirements to upgrade your building to new standards during reconstruction, which can result in extra expenses that may not be covered by a basic property insurance policy. Ordinance or law insurance can protect you.

Canceled

Learn why your insurance might not be renewed. There's a difference between an insurance company canceling a policy and choosing not to renew it.

Business Continuation Planning Risk Management

Free 30-minute online seminar! April 28, 2021 from 10 a.m. - 10:30 a.m.: What happens to your business if something happens to you? Business Continuation Planning to Manage Risk.

Accounting

With the COVID-19 pandemic, many businesses have had to make adjustments with workers having transitioned to working from home, having reduced hours, and some having been furloughed – some with or without pay, or have been laid off. It is important to maintain accurate payroll records to ensure you are charged appropriate premium for your Workers’ Compensation coverage.

A BOP...a Business Owners Policy...can protect your small business against today's most common risks. Since a BOP is prepackaged, there is only one policy to review and it can be more cost effective than purchasing separate policies.

Whether launching a new business, growing your business or competing in the global marketplace, it is essential that women business owners get the right type and amount of coverage. Without adequate insurance, a natural catastrophe, employee lawsuit or even the death of a business partner could destroy what they’ve built.

A recently published white paper examines the current exposure to cyberrisk and how insurers are responding. Interest in cyber insurance and risk continues to grow beyond expectations in 2016 in part due to high profile data breaches, but also due to awareness of the almost endless range of exposures businesses face. Attacks and breaches have grown in frequency, and loss costs are on the rise.

In 2015, a new Massachusetts law went into effect regarding certificates of insurance.  This legislation, MGL Chapter 175L was enacted to legally clarify that insurance certificates do not and cannot modify the terms or conditions of the insurance policies they evidence. Yet, a year later, instances still occur where businesses or their clients appear either confused or unaware of the law. Outlined here are the key points of the law.

 

The information provided in these articles are only general descriptions and should not be relied upon as complete, correct or accurate for your specific situation. All coverage informaiton is subject to policy provisions, endorsements and may be  subject to your meeting underwriting qualifications. Murphy Insurance Agency is not engaged in rendering legal, accounting or other noninsurance professional services. Consult an appropriate professional for advice regarding your own situation.