topic

Insurance

Insurance and risk management guidance for propane retailers, from liability coverage to claims and loss prevention.

  • Rising Insurance Premiums Affect Propane Marketers Across the Board

    Why even the most safety-compliant marketers are seeing their rates go up
    Read More →: Rising Insurance Premiums Affect Propane Marketers Across the Board

  • 5 Steps to Help Managers Identify & Remediate Business Hazards

    Coming to terms with how pollution-related exposures could affect your team
    Read More →: 5 Steps to Help Managers Identify & Remediate Business Hazards

  • Why It’s Imperative to Get Life Insurance Now

    The importance of making sure you have adequate coverage before you think you need it
    Read More →: Why It’s Imperative to Get Life Insurance Now

  • How to Pick the Right Propane Insurance Agent & Best Policy

    A guide to choosing coverage that serves as a signpost for your leadership team
    Read More →: How to Pick the Right Propane Insurance Agent & Best Policy

  • How Consistency Can Help Your Propane Company Succeed

    Is your business the world’s best?
    Read More →: How Consistency Can Help Your Propane Company Succeed

  • What’s the Greatest Risk Your Company Faces?

    Reduce the risk of a cyberattack on your company with a cyber liability policy
    Read More →: What’s the Greatest Risk Your Company Faces?

  • Don’t Shoot the Messenger — Insurance Premiums Are Up

    3 reasons for the increasing costs and 7 ways to mitigate their effects
    Read More →: Don’t Shoot the Messenger — Insurance Premiums Are Up

  • Don’t Depend on the Do-Over

    Why you should be updating your employee handbook now to adjust to the challenges of the past year
    Read More →: Don’t Depend on the Do-Over

  • “Oh, No! The Claim’s Not Covered!?”

    By Frank Thompson… This statement drives fear into every propane marketer and their insurance agent’s heart. However, this statement that a claim is not covered could be you, if you are providing dispenser equipment to a non-owned bottle fill site. The insurance company wants you and your company to be able to sell more propane. They have asked numerous questions about your safety procedures in order for you to get a quote from them. They must be satisfied that you are capable to sell and deliver propane safely before they insure you. Their quote provides property, general liability, and auto coverage for your company. It does not cover the interest of non-owned third parties that utilize your equipment to sell and dispense propane. An example…
    Read More →: “Oh, No! The Claim’s Not Covered!?”

  • Insurance Headlines: “Premiums Are Going Up”

    By Frank Thompson… The email on June 10 from “Property and Casualty 360” ruined my day: Insurance “carriers are faced with claims related to cybersecurity, COVID-19, the riots and demonstrations, tornados, flooding, and the economy.” What they were trying to tell their readers is simply that insurance premiums are going up. There is no more “soft” insurance marketplace where one could expect a reduction in premium from the prior year; in most cases, the insurance renewal premiums are going to increase substantially. Let’s take a look at how each of the above perils is impacting the insurance industry. COVID-19 hit, for most businesses, the middle of March. By the beginning of April, most states were in lockdown, with businesses required to either close their doors…
    Read More →: Insurance Headlines: “Premiums Are Going Up”

  • Does Your Insurance Program Stack Up?

    (March 3, 2020) — By Frank B. Thompson… The above question is asked many times by propane marketers who visit with us at the trade shows that we attend, or when we receive a call from a marketer who has just found out that a loss wasn’t covered. So let’s look at several scenarios showing how marketers chose their insurance agent and insurance company. To begin with, there are over 1800 insurance companies doing business in the United States and over 1.2 million licensed insurance agents. The majority of the insurance companies and agents are personal lines agents (car insurance, home, and small Main Street business). What that means to the marketer who is required to insure his business is, he has choices. The choice…
    Read More →: Does Your Insurance Program Stack Up?

  • Insurance Industry Losses Mean Higher Premiums for Propane Marketers

    By Frank B. Thompson… The headline from the Insurance Journal read, “A.M. Best Sees $12 Billion P/C Insurance Underwriting Loss for 2018.” This was followed by even worse news: “The U.S. property/casualty industry is expected to report that 2018 was its third consecutive year with an underwriting loss.” That loss in 2018 follows a $25.3 billion loss in 2017, and a loss of $7.3 billion in 2016. So what does that mean to propane marketers? The answer: higher premiums. The property and casualty insurance market has been stable over the past six years. Rates have stayed flat, which allowed some new insurance companies to enter the propane marketplace. The focus of the propane industry has been on CETP training, which has reduced the frequency and…
    Read More →: Insurance Industry Losses Mean Higher Premiums for Propane Marketers

OUR DIGITAL PARTNERS

Insurance News

trending

From Our Partners