Advice for my situation?

[djs]

If I had to pick one, I would do group health. I don't think it ties to merchant services as well as the liability / workers comp / auto does.

I see liability / workers comp / auto as a single entity, you do it all or none. Bonds are simple, no big deal, I write them as a convenience, not because I make much money on it.

Basically, I view merchant services and business insurance as necessaties of having your doors open, almost regardless of the size of your business.

Group health is a benefit, which even in small businesses, may have a different decision path than merchant service vendors. It is a fraction of the effort to get into though and is more universally available than liability insurance for a business.

Unless you write it, you may not realize that with commercial liability coverage, you need to pick markets / industries to pursue. One carrier might do restaurants but only if they are dine-in, another if they are delivery, yet another if they have over a certain percentage of alcohol sales...

Dan

 

[Bwarules]

"Unless you write it, you may not realize that with commercial liability coverage, you need to pick markets / industries to pursue. One carrier might do restaurants but only if they are dine-in, another if they are delivery, yet another if they have over a certain percentage of alcohol sales..."

No sir, I had no idea this was the case. This is great information to have. Are you guys concerned from a health insurance standpoint with the prospect of nationalized healthcare, or some form thereof? Or is the basic thought in the industry that the system won't possibly change that much?

 

[HomeService]

I think we are headed towards a nationalized healthcare deal at some point, but I think it may be 2010 or later before it gets implemented. So, the people who need health ins are still going to buy it for the next few years at least. But, that's why I mentioned supplemental and Colonial. Supplemental is kind of recession-proof and nationalized-proof. Get with a colonial mgr in your town. They have it down to a science, they know how to approach businesses, and they know who is the best for group health. Most of the colonial agents write other stuff as well. These guys are good to "get to know" because they are top notch and know what's up, in the business market. Go talk to them- even if you decide not to go for it with them.

 

[somarco]

a gap in coverage there, while at work, SOMETIMES. I need to get with a lawyer sometime- and discuss this.

A P&C agent will work.

Just because TX doesn't require WC (an offshoot of oil company lobbying efforts) doesn't mean the product doesn't exist or that employers don't have it.

Many of the larger employers self fund with a stop loss cap. When they self fund they are required to post a bond in the amount of their SIR.

Absent a policy or stop loss, there really is no limit to what an employee can sue for when injured.

Are you guys concerned from a health insurance standpoint with the prospect of nationalized healthcare,

Not really.

 

[Deep South Broker]

If you are working P & C find a good product that covers contents in rental property. You can take the product and go door to door in apartment complexes. While you are in there you can quote the autos, motorcyles, lief and health. Most folks that live in apartments for some reason or the other love company.

When I was a young agent in the 70's I worked large apartments complexes in Jackson, MS with great sucess. I worked with a Debit Company and in my early 20's lead my company week after week. I think it would still work.

 

[HomeService]

Debit Company and in my early 20's lead my company week after week. I think it would still work.

It still works. I currently have a broker debit contract, and still work it. I don't put in tons of time at it. I kind of do it part time. This is why my name is "homeservice", I'm an old school debit agent.

 

[Bwarules]

Interesting ideas across the board. I'm going to keep researching obviously and I think I'll meet with a few people locally, as a couple of you suggested, and go from there. Thanks again to everyone who contributed advice. Anyone that wants to add anything else, feel free, lol.