Risk Management

The Top 5 Business Insurance Requirements from Landlords, Clients, and Investors

We see all kinds of business insurance requirements (and coverage change requests) from our clients’ landlords, clients, investors, business partners, and more. These requests are processed by creating an “endorsement” on the policy that puts the change into effect. From a location change to adding a new coverage to a liability policy, some endorsements are

Business Insurance Package Policies & How They Benefit Startups

Choosing commercial insurance can be daunting.  You want your company to be properly protected, but you don’t want to break the bank. Luckily, that’s why business insurance package policies exist! Insurance carriers frequently bundle various coverage types together, providing a cost-effective approach compared to acquiring them individually. This strategy not only keeps expenses in check

How Insurance Companies Measure Payroll (and Bill You For It)

If you’re a growing business operating in the 21st century, you’ve most likely read about or experienced the importance of separating salaried employees from 1099 workers (Independent Contractors).  If you’re less well-read on the subject, bottom line is this: at the end of the year, your workers compensation insurer will “audit” your payroll and charge

Patent and IP Insurance: Protect Your Ideas

  So what exactly is the value of an idea? These days it can make or break your business.   There has been a 71% increase in patent lawsuits over the last 6 years. There was a mind-blowing number – 2,754 to be exact – of patent infringement lawsuits filed in 2015; for which the

FS101: Minimum On-Demand Delivery Insurance Requirements

Update: We’ve released a new whitepaper examining the Sharing Economy industry. We dive into the insurance landscape, legal climate and how to approach risk management for companies in this sector. You can download the report here! Basic risk management tips for on-demand delivery companies We work with no shortage of on-demand companies operating in the ride share, car

Business Insurance 101: HealthTech, Health Marketplaces, & Telemedicine

Behind the Scenes: Quoting Insurance for Scaling Companies

Let’s go shopping! Think of the insurance market like a fruit market.  You want the fresh, clean, beautiful fruit that’s in season!  You shop around, check for bruises or marks, and then decide which fruit to buy. The way we get insurance quotes is quite similar. We review all the quotes that we receive from

Understanding Insurance Costs as Your Company Grows

The Importance of Tail Insurance Coverage for Startups

A tail insurance policy is one of the most important risk mitigation tools for a startup approaching an exit. The mission for every founder is pretty much the same: get some traction, get funded, scale rapidly, and hit an exit opportunity.  While the occasional unicorn might be fortunate enough to IPO, most startups go the

4 Key Things to Look for On Your Business Insurance Quotes

It would be extremely surprising if you didn’t have some questions when looking at your first business insurance quotes.  They’re extremely detailed and certainly not the easiest document to digest.  Here’s a quick overview of the major items you should be looking at on your quote. [Note: this article is mainly pertaining to errors and

Getting Business Insurance for On-Demand Startups

The Business Insurance Renewal Checklist (for Startups)

Business insurance renewals are usually uncharted territory for a young startup.  Typically, venture-backed startups experience significantly more change/growth year over year compared to your standard new business venture.  It’s important to understand how this affects your startup’s insurance coverage and how to ensure you’re properly protected.  Here’s the “checklist” of items to be aware of as your policies renew.

Startup Risk Tips: Don’t Let Your Business Insurance Lapse

Sometimes things don’t go quite as planned and your company ends up a bit more cash strapped than anticipated at year end.  The typical gut reaction is to pull the rip chord and cut any and all “extraneous” expenses.  Insurance is considered by some to be one of those expenses.  Here’s why you shouldn’t be quick to

Intellectual Property Insurance — What Startups Need to Know

Startup Risk Tips: Know When Business Insurance Kicks In

Q: When is my company actually covered by our insurance policies?

3 Risks an On-Demand Services Company Needs to Consider

Update: We’ve released a new whitepaper examining the Sharing Economy industry. We dive into the insurance landscape, legal climate and how to approach risk management for companies in this sector. You can download the report here! Food for thought: on-demand services company risk profile The on-demand services company (think Uber, Makespace, Fly Cleaners…) is taking over the

2 Sneaky Ways Business Insurance Adds Value for Startups

Under the Hood: Creating Your Business Insurance Quote

So you’ve gone through the process of applying for insurance on the Founder Shield site.  In the the interest of transparency, here’s how we create your business insurance quote and how your insurance policy becomes a reality: 1. We review your submission internally As soon as you click submit, our team is alerted to review your

Startup Risk Tips: Admitted / Non-Admitted Insurance Policies

Q: What’s the deal with “admitted” insurance carriers vs “non-admitted” insurance carriers? Insurance quotes are a pain to read.  If you’re not in the industry, most of the terms might seem like complete jibberish.  One term that comes up is the whether the policy is with an Admitted or Non-Admitted insurance carrier.  Here’s the deal:

EPLI Risk Exposure Checklist for Startups

  Last week we posted about the importance of Employment Practices Liability Insurance (“EPLI”) for rapidly growing startup companies.  If you read that post, it should be pretty clear why there’s so much risk exposure related to employment practices.  I wanted to follow up that post with a quick EPLI risk exposure checklist for startups.  Here’s

One Trade Agreement Startups Should Know About

  Venturebeat originally posted about this earlier this week and we thought it was an important one to be aware of. Unbeknownst to most, a new trade agreement between the Trans Pacific Parternship (the “TPP”) has been in development for almost a year now.  The TPP consists of the United States, Mexico and a handful