Wednesday, January 11, 2023One of the most important parts of insurance is related to claims. In a perfect world, claims get paid without questions or disputes. But the reality is, it is never black and out. In most commercial claims, there are more exclusions than covered perils. To make matters worse, you discover these truths after a loss. READ MORE >>
Thursday, March 17, 2022 How does underinsurance penalty come to play, and why does it matter? Shouldn’t consumers be able to choose the amount of coverage they desire? If they only want 50K worth of coverage for inventory, or 100K for loss of income, who’s to say no? READ MORE >>
Monday, April 12, 2021Businesses are ordered to comply with federal laws that would accommodate disabled individuals from mobility, visual, or auditory challenges. If you have a storefront, there must be a way for disabled individuals to access your store. For instance, someone in a wheelchair won’t be able to enter your store using a staircase. READ MORE >>
Friday, January 8, 2021Contracts are not designed to mutually benefit all parties involved. For the most part, it’s one-sided, favoring one party over the other. And nobody wants to read them because they’re lengthy with legal terminologies that sound like a foreign language. READ MORE >>
Thursday, December 31, 20202020 was a memorable year for all of us. And as we head into the new year, we can only hope that the challenges we faced in 2020 would be in our rearview. The pandemic has forced businesses to adapt to the new normal, and at Econo Agency, we have adapted to these changes by investing in technology to continuously service our clients wherever we are. READ MORE >>
Tuesday, December 22, 2020As we head into 2021, be sure to update the employee handbook or manual pertinent to NY PFL (Paid Family Leave) benefit changes. Important numbers to remember! Employee’s contribution rate is 0.511% of their annual salary, capped at $75,408.84. For Example: READ MORE >>
Thursday, December 10, 2020The insurance marketplace goes through a cycle every few years, and the changes are a response to various signals from the economy. During a soft market, pricing is competitive, underwriting is lax, and there are more players (insurance companies) willing to take on risk. READ MORE >>
Wednesday, December 9, 2020In this age of technology, businesses are susceptible to suffer financial harm from cyberspace activities. Hackers/viruses/imposters can use various methods to financially cripple an organization, and unless you have stringent risk management protocols in place, losses will happen. READ MORE >>
Tuesday, December 8, 2020Certain clients become defensive when the insurance company mandates certain recommendations for loss prevention or mitigation. And sometimes it can be a daunting task for brokers trying to educate their clients about the importance of compliance. READ MORE >>
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