Business Insurance

Strate Insurance Group is focused on business insurance, and this effort is supported by a separate department that specializes in knowing business insurance coverage. All insurance programs are supported by a risk management review of their exposures and a strategy to protect the company assets against loss.

Our first step is to obtain a comprehensive understanding of your business and its potential risks. Subsequently, we will assemble insurance coverages and develop risk transfer methods designed to protect your company from loss.

We represent a variety of financially sound insurance companies to provide you with a custom insurance program, regardless of the size or type of business. Our clients view us a part of their risk management team, not just insurance “salesmen.”

Overview of Services

• BUSINESS INSURANCE MARKETING
• ACCOUNT MANAGEMENT SERVICES
• INTERNATIONAL/GLOBAL CAPABILITES
• TECHNICAL KNOWLEDGE

Overview of Products

• SPECIAL PROGRAMS
• BUSINESS OWNERS POLICY
• CONTRACTORS PACKAGE POLICY
• RELIGIOUS ORGANIZATIONS
• PROPERTY INSURANCE
• COMMERCIAL GENERAL LIABILITY INSURANCE
• BUSINESS AUTO INSURANCE
• WORKERS’ COMPENSATION
• CRIME
• BONDS
• EXECUTIVE PROTECTION/MANAGEMENT LIABILITY

BUSINESS INSURANCE MARKETING

As your Trusted Choice advisor, we work with many insurance carriers to obtain the most comprehensive, competitive insurance program for your business. We only represent companies with an A.M. Best rating of A- or better – those with the greatest financial strength – in order to provide peace of mind for you.

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THE LATEST NEWS ON WORKERS’ COMPENSATION LAW

On January 22, 2010, the Tennessee Legislature suspended portions of Workers Compensation law related to contractors (PC1041) until March 28, 2011.

If and when the new law is reinstated it will require all individuals, engaged in the construction industry, including sole proprietors and partners, to procure workers’ compensation insurance coverage on themselves, as well as their employees.

We will keep you informed as soon as the State legislature has determined the final outcome

ACCOUNT MANAGEMENT SERVICES

• Your advocate in dealings with Insurance Companies
• Business Insurance renewal price negotiations with carriers
• Thorough renewal review with re-marketing as needed to ensure your insurance program stays up to date
• Assist with resolution of claims issues
• Assist with Loss Control/Safety – We partner with companies who provide loss control/safety assistance. Our claims manager is also available to assist with loss control.
• Assist with Workers Compensation Payroll Audits – Audits can be stressful and time-consuming. We are available to assist with all aspects of the audit process, including dispute resolution.
• Workers compensation classification review
• Review contracts to identify terms and conditions that may be a disadvantage to our client

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INTERNATIONAL/GLOBAL CAPABILITES

The standard business insurance policy is designed to cover exposures and losses that occur in the United States of America. The world is a lot smaller than it used to be, and even some of our smaller clients have sales or operations in other countries. We understand this exposure and are prepared to recommend coverage that will protect our client’s assets and operations in foreign countries. The insurance companies we represent are licensed in many countries.

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TECHNICAL KNOWLEDGE

Our business department associates have an average of 20 years of industry experience. Each member has an education plan specific to their role in the department. We subscribe to technical reference services to assist us with detailed questions and more difficult to understand situations.

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SPECIAL PROGRAMS

• Manufacturing
• Agri-Business
• Agri-Tourism
• Contractors
• Golf Courses
• Retail
• Restaurant
• Wholesale
• Technology
• Healthcare
• Education/School
• Non-Profit
• Church/Religious Organization
• Government/Public Entity
• Professional

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BUSINESS OWNERS POLICY

The Business Owners Policy (BOP) is designed for small offices, retail stores, light manufacturing, distributors, commercial rental properties, technology and other service businesses providing property and liability coverage. This type of policy is best suited for small to medium size businesses.
A Business Owners Package combines your Property and Liability coverage into one comprehensive policy. It offers many extra coverages at an economical premium. This can help you save time and money on your total insurance program.

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CONTRACTORS PACKAGE POLICY

The Contractors Package policy provides Property, Liability, Auto, and Workers Compensation coverages that can be tailored to fit the variety of contractor’s needs. We understand the insurance coverage that contractors need.

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RELIGIOUS ORGANIZATIONS

A Religious Institution policy is specifically designed to meet the needs of religious organizations such as:

• Stained Glass Windows
• Pipe Organ
• Child Care and Mother’s Day Out
• Buses & Vans, including 15-Passenger Vans
• Cemetary Liability
• Machinery Breakdown
• Directors and Officers Liability
• Pastors Counseling Liability

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PROPERTY INSURANCE

Property Insurance covers the risk of property loss in a variety of business situations, including buildings, equipment, furniture, fixtures, inventories, business records, supplies and other physical items.

Property Insurance may cover two types of property losses:

• Direct losses may be covered when property is lost, stolen, damaged or destroyed.
• Indirect or consequential losses related to direct losses may also be covered, referred to a loss of income and extra expenses.

Is the prospect of doing another Business Income Evaluation giving you a headache?

If so, then it’s time you checked out My Business Income Consultation from Chubb.
This online evaluator is quick, easy and accurate and can help you avoid costly mistakes
without the usual time-consuming aggravation.

Find out more about how you can simplify things with

My Business Income Consultation from Chubb

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COMMERCIAL GENERAL LIABILITY INSURANCE

Commercial General Liability Insurance protects the named insured against claims made by third parties caused by bodily injury, property damage, or personal and advertising injury.
Policies provide coverage for liability arising out of:

• Premises and Operations
• Fire Damage Liability (damage by fire to premises rented to insured)
• Personal and Advertising Injury
• Medical Payments
• Products/Completed Operations

Since we live in an age of million dollar lawsuits, you may also want to add extra liability protection in the form of a Commercial Umbrella Policy. We can tell you more about these plans and if they make sense for you.

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BUSINESS AUTO INSURANCE

Business Auto coverage insures vehicles that are owned, leased, hired or borrowed by businesses, whether they are associations, corporations, partnerships or sole proprietorships. Business Auto coverage may be used to insure private passenger autos and all types of trucks, trailers, semitrailers and commercial vehicles designed for use on public roads. We can give you more details about specific coverages and deductibles and about tailoring a Business Auto plan that’s right for you and your business.

Coverages include:

• Liability
• Uninsured Motorist
• Medical Payments
• Comprehensive
• Collision
• Towing – Labor
• Rental Reimbursement

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WORKERS’ COMPENSATION

Workers’ Compensation coverage applies to accidental bodily injury and illness arising out of and in the course of employment. Only occupational illnesses, which are unique to the occupation, are covered.
Workers’ Compensation provides for the payment of four types of benefits:

• Medical benefits
• Income benefits
• Death benefits
• Rehabilitation benefits

A representative can provide you with complete details on Workers’ Compensation Insurance and recommend cost-effective ways to control expenses through safety engineering and claim services. Benefits are determined by individual state law and vary from state to state.

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CRIME

Crime coverage may include employee dishonesty, forgery or alteration, theft of money & securities, money orders and counterfeit paper currency, computer fraud and funds transfer fraud, and ERISA.

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BONDS

• Commercial surety includes numerous types of bonds such as court judicial, court fiduciary such as executor or conservator, public official, license and permit and many miscellaneous bonds.
• Contract bonds guarantee the performance of obligations covered by a written agreement between two parties. The most common types of contract bonds are bid, performance and payment.
• Fidelity bonds cover losses arising from employee dishonesty.

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EXECUTIVE PROTECTION/MANAGEMENT LIABILITY

Executive Protection Liability can include the following coverages:

• Directors & Officers Liability
• Employment Practices Liability
• Fiduciary Liability
• Miscellaneous Professional Liability (E&O)
• Crime Insurance – ERISA bond may be included
• Business Services Dishonesty (3rd Party)
• Kidnap and Extortion for Ransom
• Identity Fraud Expense Reimbursement
• Internet Liability

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