A Small Business Insurance strategy can protect you from the bad sh*# that can happen to your company
with a painless process to get it done fast and within your budget.
Is Kuzneski Insurance Group the right fit for your business insurance?
We're not right for everyone.
Your decision on which business insurance advisor to hire will be a big factor in the long term success or failure of your business insurance program. Sometimes firms just don't fit well with each other, due to corporate culture differences, size mismatches, or incompatible approaches to process. Since we want to set you up for success, we are providing you with answers to questions that, in our experience, will help you make the right decision for your unique company and situation.
If you haven't already done so, please start by reviewing our "Are We A Fit?" page, that will help you more clearly understand our overall approach to insurance and HR. It covers important general topics like the differences between an advisor and a broker, whether we are a good fit for your company size and corporate culture, and our ability to support you during rapid growth.
Below are our 10 most popular Business Insurance FAQs that outline our approach to business insurance. The answers should help you decide whether or not we are the right business insurance advisor for you. Regardless of your decision, please consider us a resource for you now and in the future.
Business Insurance FAQs:
- What types of Business Insurance solutions will you offer us?
- Which insurance companies will be considered for my business insurance programs?
- Will you help us develop a strategy and roadmap for our business insurance?
- How much do your business insurance solutions cost? Will they fit my budget?
- We are really short on time. Is your process fast and easy for us?
- Since business insurance has some overlap with HR & compliance, can you help us in those areas also?
- Can you help us leverage technology to be more efficient and to communicate better with our team?
- I'd like to keep all my insurances together. Can you also help with my employee benefits like group health insurance??
- Business Insurance is all new to me. Will you teach me the basics?
- What else should I learn about business insurance to stay informed and make better decisions?
Let's get started.
"What types of business insurance will you offer us?"
It depends on what you are required to get, what you need to sleep at night, and what you can afford.When you are running a company, lots of bad things can happen that will hurt your company financially:
- a data breach of your client's or employee's private information.
- the death of a key employee
- a patient injury in your clinical trial.
- a fire in your warehouse.
- an employee discrimination lawsuit against your management team and/or board of directors.
Simply put, business insurance protects you when that kind of bad sh*# happens!
Some types of business insurance are required by law, like workers compensation. Others like general liability are typically required by your landlord, or clients. Still others you will purchase because you can't sleep at night knowing you don't have them in place (only you know which those are).
As part of your Strategic Roadmap, we will help you choose the right business insurance policies at the right time - so they are within budget and effective for your stage of growth. Here are the typical policies we will consider when working with you to build your Strategic Roadmap for business insurance:
Business Owners Policy (BOP)
Clinical Trial Liability Insurance
Commercial Auto Insurance
Commercial Umbrella Insurance
Cyber Liability & Data Breach Insurance
Directors & Officers (D&O) Liability Insurance
Employee Benefits Liability Insurance
Employee Practices Liability Insurance (EPLI)
Fiduciary Liability Insurance
General and Product Liability Insurance
Key Person Life Insurance
Technology E&O Insurance
"Which insurance companies will be considered for my business insurance programs?"
Name brands, and a few hidden gems you might not know about.We have access to dozens of business insurance companies and captives to consider for your program. Check out a few of the ones we use most frequently. If there is a provider that's important to you that isn't on the list, ask us about them. We probably have (or can gain) access to them, or can suggest an alternative that will be as good or better for your situation.
I like what I'm seeing so far!
How do we get started?
Glad to hear we might be a fit! If you're ready to move forward:
"Will you help us develop a strategy and roadmap for our business insurance?"
Strategy and roadmaps are built into everything we do.
There's so much for you to think about when you're building your business insurance programs: "How do all the parts fit together? What had to be done yesterday? What can wait until tomorrow? How will I pay for everything?"
It can be overwhelming at times, and if you're not careful, important things can slip through the cracks!
That's why you need a strategy, and a roadmap to guide you. We will help you:
- develop a customized Strategic Roadmap for your business insurance programs, that's part of your overall Strategic Roadmap.
- keep everyone on the same page through periodic Strategic Business Reviews.
- monitor alignment between your C-level team members through our C4i/e assessment tool.
- bring a board member/investor perspective to your insurance and HR programs. Check out our leadership team and their experiences.
You'll sleep better at night if you know where you're going and have a roadmap to get there.
"How much do your business insurance solutions cost? Will they fit my budget?"
We wish it were that simple! The cost varies depending on the business insurance solutions you need, and also your unique situation.
After we work with you to develop your Strategic Roadmap, we will help you prioritize the various solutions like general liability, workers compensation and key person life insurance. Then we will stage their rollout to keep within your budget. You don't have implement everything all at once!
On another note, for most business insurance policies, we are paid commissions directly by the insurance company. Our fees are built into the various insurance products so we won't bill you separately. It keeps it simple for everyone - and we all like simple!
"We are really short on time. Is your process fast and easy for us?"
We find that most clients have trouble keeping up with us!
Every situation is different, perhaps you:
- need general and products liability insurance as part of your IP licensing agreement from the University of Pittsburgh or CMU, and your deadline is in a week.
- need large limits for product liability & technology E&O exposures for a major new client, and they won't sign the deal until the limits are in place.
- hired your first employees last week, and just learned you should have had workers compensation in place when you first hired them...oops!
- need D&O insurance and key person life insurance to satisfy the term sheet of a $5 million Series A round from a prominent VC firm.
Fortunately, we are able to move faster than most competitors since we have fine-tuned our processes while working with startups - who tend to want things yesterday, but don't send us their paperwork until tomorrow. But we still love them!
We are Relentless About Improvement (Fundamental #14), so although our process will never be easy-peasy (remember this is the insurance industry), we will make it as painless as possible for you. If you're into efficiency and automation, then our Payroll & HRIS Solutions are worth exploring.
"Since business insurance has some overlap with HR & compliance, can you help us in those areas also?"
Definitely! We help clients every day with HR & compliance challenges.
Some examples of where HR & compliance programs can support the success of your business insurance program:
- well written employee handbooks can reduce the risk of employee practices lawsuits for things like discrimination and sexual harassment.
- training programs can reduce the likelihood of cyber liability and employment practices claims.
- safety programs can cut down on the size and frequency of workers compensation claims.
- key person life insurance can support the financial execution of executive succession plans.
Since many of our clients with under 100 employees don't have a full time dedicated HR professional on staff, they rely on us frequently for support and guidance in this area.
"Can you help us leverage technology to be more efficient and to communicate better with our team?"
We sure can. It's one of our passions!
The technological advances in recent years have been mind blowing, and they can positively impact efficiencies and communication capabilities of growing companies like yours. We've integrated cloud technology into most of our processes and will enjoy sharing our best practices with you.
Since Protecting Our Client's Data is one of our Fundamentals (#27), be assured we also have advanced cyber security in place to keep the bad guys out and your confidential business data safe.
If you aren't currently using an all-in-one payroll & HRIS system, we strongly urge you to consider one for efficiency and accuracy, and can help you identify one that will meet your needs. We have some great partners who will offer you substantial discounts and enhanced support if you implement their systems in partnership with us.
"I'd like to keep all my insurances together. Can you also help with my employee benefits like group health insurance?"
That's a big YES...we do it all the time.
By keeping all of your insurances together, it enables us to develop a more comprehensive Strategic Roadmap for you, and also cuts down on the amount of effort it takes for you to keep everyone up to date on changes to your business. For growing companies, that can be a huge time saver!
"Business insurance is all new to me. Will you teach me the basics?"
Absolutely! It's one of our favorite things to do (seriously).
You are not alone. We have helped hundreds of first time entrepreneurs and others who got stuck learning business insurance while on the job. It's like building an airplane while trying to fly it at the same time...not much fun and bound to crash.
If you want to learn the basics and beyond, we are happy to teach you. Just let us know how we can help. In the meantime, take a look at some featured blog posts below to get started.