Your business probably has insurance against accidents and natural disasters, but when it comes to everyday online risks, you're on your own. The Internet is as risky as it is necessary to your business. Global e-commerce revenues surpassed $1 trillion last year; 144 billion emails are sent each day; more than 1 billion people are actively engaged on Facebook, and the majority of data collected for business purposes is relayed over the Internet. But the Internet has always been fraught with … [Read more...]
Obamacare Sticker Shock: Are You Ready to Pay Double?
Obamacare will make health insurance premiums skyrocket. Start preparing now. The Patient Protection and Affordability Care Act, known as Obamacare, is about to enter the next phase of implementation this year. Despite the fact that we are only months away from significant changes to how we access health insurance, millions of people, especially small-business owners, aren’t clear about what the ramifications will be when it comes time to renew or purchase health insurance policies in the fall … [Read more...]
Online Calculator Helps Determine the Value of Your Possessions
Finance expert Mike Periu shares a useful tool, a Online Calculator to help determine the value of your belongings in case disaster strikes. If a natural disaster struck and you lost everything, would you be able to provide your insurance company with an accurate estimate of what you lost? For many people the answer is no. The value of your home can be easily determined using publicly available information but what about your clothes? Furniture? Electronics? Most people don’t have an accurate … [Read more...]
Should I Buy Insurance When Renting a Car?
Finance expert Mike Periu on whether an insurance policy is a wise purchase when renting a car. Should I Buy Insurance When Renting a Car? You may be among the millions of consumers who will be renting a car over the Thanksgiving holiday. One of the most expensive parts of renting is insurance policies that rental car companies offer, which can easily double or triple the cost of your rental. Before automatically saying yes to these policies, you should first call your own insurance company … [Read more...]
Small-Business Owners Feel Effects of Healthcare Reform
Finance expert Mike Periu Small-Business Owners Feel Effects of Healthcare Reform Important healthcare changes for small-business owners. Health insurance companies are sending their 2013 renewal packages to their small-business clients. Small-Business owners feel effects of healthcare Reform. In addition to the renewal rates, a section titled "Health Care Reform" is included with a timetable of important changes taking place. Among the changes are requirements by employers to notify employees … [Read more...]
FEMA Will Buy Your Business if Sandy Repair Costs Are Too High
Finance expert Mike Periu on the possibility of FEMA Will Buy Your Business in the wake of Hurricane Sandy. As conditions in the northeast gradually return to normal, many small-business owners are faced with the daunting task of rebuilding their businesses. In some cases, the damage to the store, warehouse or facility may be so great that repairing it isn't worth it. In other cases the insurance policy payout may be insufficient to cover the costs of rebuilding. One solution may be … [Read more...]
States Still Have a Big Say in Healthcare Reform
Finance expert Mike Periu on state involvement of the healthcare reform as it moves forward. With President Obama winning re-election, the healthcare reform law is now certain to move towards full implementation beginning in 2014. Governors and state legislatures, however, will still have an important say in how and when many of the key elements are implemented. This includes: 1. The expansion of Medicaid. The Supreme Court ruling affirming heathcare reform also made it clear that states … [Read more...]
What Happens When Your Insurer Goes Out of Business
Finance expert Mike Periu on how insurance claims are protected if your insurer goes out of business. After a natural disaster like Hurricane Sandy, consumers and small-business owners take it for granted that their insurance companies will take care of the damages. But if the losses exceed what the insurance company planned for, there is a risk that they may not be able to make good on those claims. When a state insurance regulator believes that an insurer lacks the capital to make good on … [Read more...]
How to Speed Up Your Sandy-Related Insurance Claim
OPEN finance expert Mike Periu on how to receive faster payment on Sandy-Related Insurance Claim. Insurance company adjusters will be extremely busy for the next several months processing claims. If your small business suffered damages from Hurricane Sandy, it's important to begin the claims process as soon as possible to ensure timely payment. Make sure that you file the claims paperwork correctly and have adequate back up documentation to support your claim. If you make a good case, you … [Read more...]
Your Business-Interruption Insurance May Not Cover Losses From Sandy
OPEN finance expert Mike Periu on Business-Interruption Insurance coverage for small businesses affected by Hurricane Sandy. Business interruption insurance provides compensation to businesses that are forced to shutdown temporarily. It covers the revenues that you would have generated during the time you are closed so you can keep paying your expenses. Typical policies, however, require that physical damage to your building be the cause of your interruption. In the case case of Hurricane … [Read more...]