News/Announcements

Election Impacts on the Already Tight Small Biz Credit Crunch

Business Insurance Now — Tue, 18 Nov 2008 16:14:49 GMT

Credit makes the world goes round. Or is it money? In either case, with today’s economy many small businesses are faced with numerous challenges, especially due to the lack of available credit.

Varying Credit Needs

Some businesses need credit lines just to stay afloat (to cover overhead costs, pay their employees, etc.) while others need credit to fulfill numerous orders for products that are selling well. Without availability of credit lines for the latter scenario, these businesses are not able to keep inventories in stock for all the products that are essentially being sold; therefore, they are not able to reach their full potential for income, which further affects the economy.

So, with the varying needs of small businesses in America, how does the outcome of the election affect the already tight credit crunch for small businesses?

With the Election of Barack Obama

What exactly does Obama’s election mean to the small businesses of this country? Obama has publicly claimed that he plans to offer small businesses a tax credit as long as they provide insurance for their workers. Although he has yet to specify what this tax credit will entail, it will surely increase the amount of small businesses that choose to provide medical insurance for their employees.

In an attempt to boost our struggling economy as well as stop the hemorrhaging of U.S. jobs to overseas companies, Obama has promised that businesses will also receive a tax credit for every new hire they make here in the U.S. This is intended to inspire employers to discontinue shipping jobs overseas and consequently, lower our unemployment rate.

Lastly, Barack has made it a point to increase the amount of lending available to small businesses by requesting that the Small Business Administration put an indefinite halt on all fees charged to small businesses to obtain an emergency loan. He is also requesting an expansion of the loan guarantee programs that currently exist in order to provide more financial security for small businesses.

National Worker's Compensation Defense Network (NWCDN) Conference in Tampa, FL - October 15-16, 2008

Business Insurance Now — Thu, 02 Oct 2008 15:43:15 GMT

The National Worker’s Compensation Defense Network (NWCDN) is comprised of law firms that have experience handling workman’s compensation insurance cases. The NWCDN was created to handle claims for larger corporations and insurers operating in multiple states. There are currently 40 firms that count themselves as members and each law firm represents a different state.

Recently, the NWCDN held a conference in Connecticut to discuss ground-breaking trends in the industry. A variety of other issues were also discussed, all pertaining to workman’s comp insurance claims and some of the related problems that can occur. The conference was geared towards corporations and insurance companies that deal with compensation issues on a regular basis. There were seminars on everything from how to detect fraudulent claims to what actually constitutes a psychiatric disability.

The NWCDN received rave reviews from the 193 attendees, who said the conference was very informative and educational. The next conference is scheduled to be held in Tampa, FL from October 15-16th. The schedule of seminars can be seen on the NWCDN website at http://www.nwcdn.com/AllMainPages/natSeminars.shtml.

If your firm carries a workman's compensation insurance policy, it is vital that you are savvy about your policies and what they cover. These seminars will ensure that your information is up-to-date and will help you to guard yourself against any of the problems that can occur.

Announcing the BIN Digest

Business Insurance Now — Wed, 16 Jan 2008 04:35:18 GMT

Wanting to provide small business owners and young entrepreneurs with more than just quality business insurance products, Business Insurance Now is proud to announce the opening of the "BIN Digest".

The Digest is our official blog and will feature great information that you can use to improve your business. We'll bring you the latest news about our services, but also feature helpful articles on financing your small business, finding software & tools to help you work more efficiently, providing general business tips and helping you start your own business.

We welcome all comments, suggestions and feedback that you might have.

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