Business Insurance Forum

Hey friends,

I have a question about when in a buy sell agreement is there a rise in taxable income:

1. a policy that is transfered to a shareholder, that insured another shareholder

or

2. a policy that is issued to a company that pruchased it to insure a shareholder under a entity buy sell agreement?

I am learning for a test :) Thanks :)

What do you guys think is an easier and more lucrative line? Selling personal insurance or business insurance? Or do you think insurance brokers can successfully do both?

Maybe I'm naive...why would a company try and call insurance companies directly and spend so much time when they could just hire an insurance broker to get them business insurance? Seems so simple...No cash outlay, no risk. What am I missing?

Just curious when you do bonding insurance, do you deal usually with GC's trying to bond temporary workers or do you have other types of companies you work with? As an insurance broker in AZ, we have dealt with alot of people in the construction industry so I was curious about what other people were finding.

Obviously everyone knows almost any company, even a small one, has to have general liability insurance. And a small company would not need to have more specialized types of insurance like employment practices liability insurance.

No matter how intellectual you are, there are still a lot of uncertainties that lies behind every action and decision. In life, loses are oftentimes unavoidable. There can be a lot of cases wherein you might face certain predicaments and take some risks. This is where insurances come along.

Hi,

I run a small cleaning company. Recently I was asked to fix a light for one of my commercial clients. After changing the light bulb I realized that the problem was the ballast and not the bulb. After informing the client that this was the problem they asked if I could fix it. I said sure and proceeded to put in a new one. To remove the ballast, I had to undo several electrical wires and twist them back together to put the new ballast in. The light works fine now.

so i recently had an accident in my business and the insurance paid for some equipment that were damaged. They also held back depreciated value and told me when all repairs are done to send them everything and the depreciated amount will be given to me. Now my question is if we decided not to use all the money given for repairs...to repair the equipment ..and i give them just the amount we used will they hold back that depreciation value or still give it all back?

thanks