Business Insurance Provide Peace of Mind

Are Your Park City Insurance Costs too High?
Most business insurance experts are predicting lower rates for most businesses across the United States. “Commercial insurance buyers should anticipate lower rates and wider choice in coverage terms at upcoming renewals as insurance pricing softness accelerates in most lines.”¹

Commercial, or business insurance rate reductions are due to a softening in the market, reduced catastrophic losses, and continued competition among the leading insurers.
Commercial casualty lines are expected to range between -10% and 10% for 2015, and commercial property rates, which have fallen for several quarters, in 2015 are expected to reduce by 10% to 15% for both catastrophe and non-catastrophe-exposed risks, according to the report.²

Rate vs. Premium
Rate is the cost of insurance per exposure unit, such as revenue or payroll. The premium is based on a formula of rate times exposure. Your rate could go down, but if your revenues are up it could affect a flat premium.

Workers’ Compensation
With the exception of California, Pennsylvania and New York, most states are applying for lower rates.

Have Us Shop Your Commercial Insurance
Now is the time to contact us to help you review your risk, design your program and market your commercial business with our top-rated markets. Your commercial program should include:
1. Commercial liability
2. Commercial auto
3. Property
4. Workers’ compensation
5. Cyber liability
6. Directors & officers & professional liability
7. Employment liability
8. Bonds and dishonesty
9. Umbrella or excess
 
 
 
 
^{1-Gavin Souter Business Insurance September 2014
2- Property Casualty 360, October 2014}