New Trends in Commercial Insurance

Posted on September 30, 2024September 30, 2024 by admin

As a business owner or manager, safeguarding your assets is a critical responsibility. To accomplish this, you need comprehensive commercial insurance that protects your property, takes care of liability issues, and ensures your employees’ safety. For businesses operating in New York, the AW Burchell Agency Inc. provides sound commercial insurance guidance and expertise, backed by nearly 17 years of industry experience.

Understanding the Emerging Trends in Commercial Insurance

Navigating the commercial insurance landscape becomes easier when one is familiar with the current trends impacting it. For instance, policy selection is headed towards automation, according to EasySend. Thanks to "smart" analytics, clients can efficiently select policies and effortlessly enroll online. Artificial Intelligence (AI) is streamlining policy underwriting, resulting in quicker quotes.

The Exciting Role of AI

Besides expediting the policy selection process, AI allows insurance companies to analyze client data, detect fraud, and evaluate their marketing strategies. As businesses adopt more technology, the demand for novel insurance products, such as cyber insurance, escalates. Similarly, the value of business interruption insurance is increasingly being recognized, considering the impacts of previously enforced work stoppages. Furthermore, commercial auto policies are evolving to include insurance for autonomous vehicles like drones and robots.

Schedule an Appointment with Us Today

At AW Burchell Agency Inc., we look forward to meeting you and helping safeguard your business with suitable insurance options. New York business owners in need of appropriate insurance solutions can rely on our expertise. Contact us today, and let’s discuss your specific insurance needs.

What unique coverage options should I consider with commercial insurance?

Posted on November 17, 2023November 27, 2023 by admin

Business owners throughout the state of New York likely know there are many risks facing their business on a daily basis. Because of this, taking the proper steps to cover and reduce this risk is important. One of the best ways this is done today is with commercial insurance. There are a lot of unique coverage options to consider when you are building a commercial insurance policy.

Business Interruption Insurance

There are situations when your business may need to shut down due to a covered event, which can include a fire or natural disaster. If this occurs, you will lose out on money needed to run your business. When you have business interruption insurance, it can help to compensate for revenue and income lost during this time.

Cyber Liability Insurance

All businesses today need to be aware of various cyber risks. If you are a victim of a cybercrime, it can damage your business reputation, lead to regulatory challenges, and even liability claims. When you have a cyber liability insurance plan, it will offer protection against these risks and can help cover many of these costs.

Errors and Omissions Insurance

If your business offers any form of support or advice to clients, having errors and omissions insurance is very important. If it is determined that you offered poor advice or omitted certain information, you could be held liable. An errors and omissions insurance plan will offer coverage in these situations.

Consult With Us

All New York business leaders will know that having insurance is very important. As there are a lot of options to consider today, calling our team with AW Burchell Agency Inc. can be helpful. Our team at AW Burchell Agency Inc. understands all commercial insurance options and will offer any support you need to build your next plan.

What Types of Insurance Should You Have for Your Home Business?

Posted on January 16, 2023January 18, 2023 by admin

If you run a home business, protecting yourself, your employees, and your business with the right insurance policies is important. AW Burchell Agency Inc. is here to explain the insurance policies for home businesses in Pennsylvania and New York.

Types of Insurance For Your Home Business

General Liability Insurance

This policy covers legal responsibility for bodily injury and property damage caused by your business operations. It also covers personal injury like libel and slander. This policy can help pay for medical bills, court costs, settlements, and other damages related to lawsuits from injuries or damages caused by your business activities.

Property Insurance

Property insurance is important for any home-based business owner because it helps cover losses due to theft, vandalism, fire, and other events that could cause damage to the building or its contents.

Workers’ Compensation Insurance

If you employ people in your home-based business, you must carry workers’ compensation insurance to protect you and them in case of an on-the-job injury or illness. This type of policy benefits an employee who is injured while performing duties related to their job at your place of business.

Business Interruption Insurance

Business interruption insurance helps protect businesses from potential income losses due to unexpected events such as fires or natural disasters that temporarily prevent operations from continuing as usual. Depending on the specifics of the policy, this coverage may pay out benefits based on fixed expenses (such as rent) plus estimated profits that were lost during the period when your operations were affected by the event.

Give Us A Call

Home businesses in Pennsylvania and New York require several types of specialized insurance policies to operate safely and securely. Contact AW Burchell Agency Inc. today, and we can help you get your business needs covered.