3 Most Common Types of Aircraft Covered by Insurance

People with sufficient means and resources can own and operate their own aircraft for their individual purposes. They are likely to obtain an insurance plan for their private planes and helicopters to reduce inherent risk. However, www.isurepro.com lists other uncommon aircraft types covered by insurance that protect their owners and passengers from numerous dangers.

Jets

Unlike regular airplanes, jets use the gas discharge to create thrust, which allows for higher altitudes and greater speed that rivals or overcomes the speed of sound. These conditions can lead to greater danger for the operators. An insurance plan accounts for potential hazards, as well as liability, fuel and other factors.

Homebuilt

Also known as kit aircraft, they are built from assembly kits bought by non-professional owners. They build and fly these airplanes as a hobby, but the nature of the vehicles increases risk compared to other types. An aircraft insurance broker can offer these enthusiasts insurance programs that relieve concerns specific to these planes.

Experimental

Some organizations develop new aircraft technology that must be tested before further development and production. These vehicles are flown by professional pilots with experimental permits. Still, the unproven status of the technology invites more potential hazards than standard planes, so a customized policy can help.

The insurance extends beyond private passenger planes to other aircraft with different functions. Owners can talk to an agency to create a plan that addresses their necessities.

Grow Your Insurance Company’s Online Presence

Are you wondering why your insurance company isn’t in the top search engine results? Your company has wonderful customer service, your employees have strong work ethics and your rates are top-notch, so what isn’t working?

Expanding Your Brand

What’s not clicking is how you are using insurance marketing companies. Collaborating with agencies specifically to market your insurance company allows you to do the following:

  • Optimize your online presence
  • Practice consistent and effective branding
  • Provide an experience that is tailored to your company’s unique goals and visions
  • Create a website that is just as helpful on a smartphone as it is on a desktop
  • Find new leads that will help to grow your business

Through building and establishing a social media and online brand for your company, you can reach anyone who is looking to buy insurance.

Conquering the Online Market

According to www.agencytsunami.com, Americans spend about 37 minutes of networking on social media each day. Use the new online market to your advantage. Drive new clients to your website by revamping your brand aesthetic, social media content and your digital marketing.

Gaining traction online doesn’t have to be difficult. Your expertise is there. The next step is revolutionizing your search engine optimization with the help of an experienced marketing firm. Expanding your online footprint, your profits and your client portfolio is made easy with insurance marketing companies.

How to Plan a Long-Distance Truck Haul Route

Truck drivers rarely work conventional hours, but they need effective ways to manage their routes. They are an essential component of the American economy. How long can a truck driver drive and other questions are answered below:

Drive Time

As seen on https://www.truckinsure.com, there is a 14-hour rule for truck drivers including both related truck work and drive time. Afterward, the driver must take a 10-hour break. For example, a driver can drive for eight hours, take a half-hour break then drive an additional three hours. The driver can eat, exercise or nap during breaks.

Route Considerations

While a straight line may make a faster time, there are other considerations when planning a route. The driver should keep an eye out for construction zones, accidents and school zones along any routes. Avoiding these things can decrease the amount of time it takes you to finish the haul.

Weather Considerations

When planning a route, the driver should take note of any weather issues they may encounter along the way. Try to avoid heavy storms with high winds as these can increase the risk of rollovers. In addition, bad weather can slow down the amount of time it takes to reach the destination.

The answer to how long can a truck driver drive is 11 hours in a 14-hour period with few exceptions. Until the DOT changes this rule, drivers can expect to follow these guidelines and should plan their routes accordingly.

Understanding a Single Parent Captive

When organizations and corporations look for insurance alternatives and ways to manage their corporate risk they oftentimes turn to insurance captives.

When it comes to insurance captives available to businesses, the single parent captive (or pure captive) is the most simple. When one organization or company owns, controls and manages a captive it is considered a single-parent captive. These single-parent captives are formed to insure the company and its subsidiaries. Companies choose to utilize single-parent captives because they can help regulate insurance costs with more consistent and stable pricing from year to year. Organizations are drawn to captives because they offer flexibility. The owners maintain control of coverage, limits and providers as well as other operational aspects.

Industry experts like Caitlin Morgan cite single-parent captives as the most popular type of captive in the market today. Single-parent captives have been around for decades and continue to provide the lower costs and improved cash flow companies are looking for. There are numerous benefits to taking advantage of insurance captives but there are things to consider, too. Make sure you partner with an industry expert before you make your decisions. A little proactive research on your part can ensure you choose the right insurance coverage for your organization.

Fidelity Bond Protection for Banks

Insurance policies are commonly used to protect businesses from liability risks associated with operations, as covered claims usually address the loss from incidents of property damage, bodily injury, errors and omissions claims, and commercial auto accidents. However, within the different policies that cover these exposures, there is usually a common exclusion for loss incurred during illegal or dishonest activities. These exclusions become the main concern for those that work in areas of finance or brokerage services.

Threat Evaluations

As a way to protect both consumers and companies, the SEC has mandated that investment houses, banks, and other forms of financial services carry a blanket bond insurance coverage. According to the experts at Financial Guaranty Insurance Brokers, Inc., this form of coverage is also referred to as a fidelity or blanket fidelity bond. Areas of protection afforded from this coverage include:

  • Trading fraud
  • Forgery
  • Intellectual theft
  • Embezzlement
  • Material theft

The Key Difference

A blanket bond is important for financial institutions not just because of the SEC mandate, but because of the key difference, it holds when compared to traditional insurance. A blanket bond is able to protect against loss that is linked to illicit activities occurring within the company. Traditional insurance generally only protects from external occurrences of loss.

Internal threats, such as those that stem from employee activity, are the greatest areas of concern for financial institutions. A blanket bond minimizes the financial backlash that could occur if a claim is filed.