Category: Insurance Articles
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Everything You Need to Know About Insurance Filing As A Motor Carrier
Have you wanted to file your insurance as a motor carrier, as a freight forwarder, or a broker but couldn’t understand how? Then this article is what you need. Apart from applying operating authority, applicants for freight forwarder, motor carrier, and broker authorities must have specific legal processes and insurance agent documents on their files…
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What is A Performance Bond?
This article explains in detail about what is a performance bond and what are the roles of all three major parties in it. A construction job of any kind requires a performance bond. In essence, they provide an assurance that the contractor carrying out the work will honour their contractual duties to the project’s owner…
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Mandatory Workers’ Compensation Insurance for Contractors in California
The California Contractors State License Board (CSLB) has announced that starting January 1, 2023, certain licensed contractors must carry workers’ compensation insurance, regardless of whether they have employees. These contractors include those in the concrete (C-8), HVAC (C-20), asbestos abatement (C-22), and tree service (D-49) sectors. This new requirement is the result of Senate Bill…
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Insurance Commissioner takes a decision in favour of frontline employees
January 19, 2021. (Sacramento, CA, Economic & Insurance News by Insurance Market 360 ) – In view of the ongoing impact on the frontline workforce due to Covid-19, Insurance commissioner Lara, ratified workers’ compensation average advisory pure premium rates to $1.45 for per $100 of payroll for workers’ compensation insurance. It is to be implemented…
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Excess and Umbrella Insurance Explained
Excess and umbrella liability are common terms in the general liability, commercial auto, and employer’s liability insurance industries. Because the two policy types can fit perfectly into different branches of the insurance industry, many people confused them one for another. While they are sometimes used interchangeably, a closer look at the two will clearly show…
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Workers Compensation in the United States: The Background History
Workers Compensation in the United States: The Background History The idea of providing workers with sufficient protection as well as compensation for the injuries or illness that occurs at the workplace was first introduced at the beginning of the 20th century with the emergence of the trade union movement. The increasing awareness among the general people,…
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Why You Should Get California Contractor License
Why You Should Get California Contractor License A government-issued license is one of the basic requirements to operate as a contractor or subcontractor in the United States. In California State, the license is issued by the Department of Consumer Affairs, Contractors States License Board (CLSB). Without a license, you cannot work on any project that…
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Understanding California Contractor License Classifications
Apart from being a compulsory requirement of the law, having a contractor license increases your chances of winning a project bid in California State. Depending on your line of business, your California contractor license will be issued under any of these three business and professional code classifications: A Class, B Class, or C Class. Classification…
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What is DOT Number?
A DOT or United States Department of Transportation Number is issued by the Federal Motor Carrier Safety Administration (FMCSA). It is a unique identifier assigned to companies operating commercial transportation services, either for cargo haulage or transporting of passengers. The primary role of FMCSA is to improve highway safety for all road users. The agency…
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Researchers confirm genetic mutation link to ALS symptoms
(Bethesda, MD – Insurance News 360) – A team of researchers has confirmed there is a new genetic mutation that is linked to amyotrophic lateral sclerosis (ALS). The international team shows that changes in the neuronal transport gene KIF5A are associated with ALS. The gene in question is Kinesin family member 5A (KIF5A). It has…