Business Insurance & Bonds

Types of Businesses We Cover:

Start-Up Businesses

Your business is growing and as you start your business you may have been unsure of the coverages required and costs. SIM agents will always monitor your growth and advise you on what coverages should be changed or if better products can further protect your business and cash flow. We treat every small business like a large operation to ensure you have your risk coverages on point. 

• Business Owner Policies: Insurance bundled for broad, cost effective coverage that eliminates uncertainty for any small business. 
• Risk Audits: Our service reps and agents will work together to maintain proper data for your business. 
• Safety Resources: Material, training sessions, and other customer safety programs for your company and employees.
• Financing: We provide financing for your insurance policies to help maintain cashflow.
• Resources: Your industry is important to us, so we are always monitoring your industry for news, key information, and events that are important for your business. 

Small Businesses

Your business made it from start-up mode, or you purchased a business with the business capitalized and cash flowing; your focus is on profitability for a return on your investment. The work that it took to get there is important and you need to protect that investment, including your time. We understand this and will help protect your investment:



• Evaluation: We will match your risk, assets, and business for markets that are specific to your industry to find the best coverage and price. 
• Team management:  You will have a team, not a single agent, working for you, to ensure quick changes or reaction to issues.
• Claims Management: We manage the claims step by step with you, there are no ‘800’ phone number referrals for you to navigate during stressful times. 
• Risk Management: Besides your monthly summary of your insurance, we offer safety resources and live training for your company, with industry experience. 
• Safety Programs: Custom safety programs to keep your employees safe and eliminate unnecessary claims to keep premiums low. 

Lower Middle Market Businesses

You are a company that is in a category where competition, costs, employees, and growth get more complicated by the day. You are in between small companies and large corporations. It is hard to be heard with government programs and regulations, though they demand a lot with policies and taxes at every level. Furthermore, risk management becomes more costly and insurance policies enter a new category with higher costs. The focus on insurance becomes more of a responsibility, and we are here to help:



• Team Management: We have a dedicated team to ensure all needs are met for your business, as risk management is only one aspect. We have a whole advisory team to help with items outside insurance to make sure everything connects.
• Customized Risk and Safety Program: Safety audits and training to ensure OSHA and other measures are keeping employees safe and employers in compliance. 
• Advisory: Risk management is just one part of the equation, we have a team to advise you on all aspects of your business.
• Financing: To maintain cash flow for large policies that do not have direct billings, we have solutions. 

Middle Market Businesses

With our specialized services, we offer coverages and services to clients that surpass $50 million in annual sales and have over 100 employees. The complexity of growth, projects, employee health, and safety are vital in maintaining a business of any size, especially those in competition with large public entities. We take a different approach to your risk and operate as a partner to your business. 

• Team Management: Your dedicated team will monitor your insurance information, including monitoring your competitors and industry to maintain a competitive advantage.
• Risk Management: We work closely with your management team to develop and execute the right policies and safety programs. 
• Claims management: To reduce insurance costs from claims, we protect our clients with fierce defensive claims management to stop pass through claims that are not fully your fault. 

Public Entity

Changing from private to public, reverse merger, or full acquisition of a public entity will complicate your risk management accountabilities. Our team will audit your past and evaluate your future needs beyond your initial launch, to meet all risk and compliance. Experience, access, and our tireless work ethic will be required to meet your timely deadlines and precision as you catapult your business within the public capital marketplace. 

In our complimentary risk triage, we will make sure our firm and our diverse resources will be a good fit for your current and future IPO or current public company risk management.

• Divers Business Insurance Programs
• Directors and Officer Insurance
• Cyber Liability with Risk Management Contingency
• SOX Compliance
• Advertising and Public Relations Compliance

Special Coverages:

Workers Compensation

It is hard for a business owner to think of the worst when trying to start or scale a business. The idea of an on-the-job injury is terrifying for many reasons; pain caused to an employee, the reason why it happened, fault, and whether your business will be at risk from injury or death. 

As business owners, we also look at the cost, which can be high premiums for a start-up or because of a previous injury. On one hand, we have to the look at the cost, on the other hand we must make sure an injury does not end your business, but still be able to afford the mandatory premium despite your genuine care for your employees. 

We are here to guide and help you through injury prevention, coverage, managing reports, EMR/modification, and most importantly, claims management. 

It is a coverage that is not to be neglected and can really save your business and make sure your businesses and personal assets stay protected depending on your corporate classification.

Bonds

A bond is a relationship between three parties, though administered generally through insurance brokers and carriers, they are a financial tool where the business owner or person guarantees their defined promise of that bond.

They can seem confusing, as the cost of the bond is vastly different than what the bond promises. That gap is provided by the surety provider, giving you a credit line to maintain cash flow and not tie up valuable assets. They will provide a financial guarantee of your promise to your customer, or government agency, and will pay them if you fail. Once this happens you will be obligated to pay the financial promise to the oblige (the customer, or governmental agency). 

This is serious business, as a failure could jeopardize your business future, business and personal assets. It is important to maintain strong credit and understand your bond contract. Failure to do so can be expensive and if you don’t understand the job, you could be making considerable risks when limited in experience, as there are many unknowns. It is very important to not make promises to work that is unknown, as a bond will make you obligated no matter the situation.   

How we can help you:

• Contract and Risk Review
• Bond Selection and Applications
• Bond Management
• Low Credit Management Solutions

Call us or click here for your free consultation and quote.