308.6 Billion A Year-The Cost of Insurance Fraud

Insurance Fraud

The annual cost of insurance fraud to businesses and consumers is $3,860,000,000.00 in America according to The Coalition Against Insurance Fraud. The Coalition broke down the most common types of insurance fraud as follows; Life insurance: $74.7 billion Property & casualty insurance: $45 billion; auto theft fraud totaled $7.4 billion Health insurance: $36.3 billion Workers’ […]

Distracted Driving Everybody’s Problem

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Many trade contractors use their van or truck as their mobile office. Invoicing, credit card readers and receipts that need to be filed, are on the dash, shoved in the sun visor or in a cup holder,  you get the picture. There is even a pickup that touts its rear tailgate as being flexible enough […]

Basic Aspects of Business Insurance

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Are you just starting up your new business? Or perhaps you have recently been wondering if your current commercial insurance coverage is enough. It can be frustrating trying to educate yourself about business insurance options. Let us help you understand some basic aspects of business insurance. General Liability This is the foundation of most policies. […]

The Real Value of an Independent Insurance AGENT

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Learn why your local independent insurance agent is much more than a salesperson.  Read about customer commitment and your local independent insurance agent. The core of every business is customers. Without customers, there is no market. As an independent insurance agency, Richey-Barrett Insurance strives to be present, for real, for our customers. As we remind […]

Commercial Insureds…Heads Up on Products/Completed Operations Liability

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Whether your business is a large manufacturing or a small independent contracting, you have a Products/Completed Operations Liability exposure. This is a risk of doing business, and Commercial General Liability insurance provides protection for this exposure. Perhaps the easiest way to gain an understanding of Products/Completed Operations Liability is by example. Consider a business engaged […]

Farmers Market Hazards, Are You Covered?

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Learn about your potential liability exposures. Like many farmers, you are planning to sell your crops at your local farmer’s market this season. How well does your current farm insurance program cover your liability exposure in that endeavor? Have you added retail exposure the farmer’s market? When selling your fruits, vegetables, meats, or jarred items […]

Commercial Drones are On the Rise

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Learn a few basics about commercial drones and insurance for commercial drones. Read why commercial drones are on the rise and why you need drone insurance. Technology continues to put it out there and change what and how things are done. Commercial drones are on the rise, literally, and have the potential to bring about […]

Be prepared for Rising Insurance Costs in 2020

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In the last month, AM Best and Fitch (companies that provide financial data products in the insurance industry), national consultants Willis Towers Watson, AON, and others have all echoed the fact that rates are going up and will continue to rise in 2020. Price increases in automobile insurance were discussed in an earlier blog, but […]

Will 2020 Be Your Year for 20/20 “Vision”?

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Read about the value of an independent insurance agent to start-ups and newly acquired businesses. Discover why an independent insurance agent is the value-added resource for commercial insurance. Hopes. Plans. Expectations. We’ve all got them in some form or another. 2020 is on the horizon. Are you thinking ahead, making plans, perhaps envisioning your own […]

Commercial Drones are On the Rise

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Learn a few basics about commercial drones and insurance for commercial drones. Read why commercial drones are on the rise and why you need drone insurance. Technology continues to put it out there and change what and how things are done. Commercial drones are on the rise, literally, and have the potential to bring about […]