Question 1

How often should contractors review their marine insurance policies?

Accepted Answer

Annually, or whenever there are significant changes in their operations or asset values.

Question 2

What is the best way to reduce premiums for marine insurance?

Accepted Answer

Implementing stringent safety measures and opting for higher deductibles can help reduce premiums.

Question 3

Are you looking for ways to reduce your own health care costs?

Accepted Answer

Following the steps below can ultimately lower the costs for health care services and help you stretch your health care dollars:

Stay on schedule with regular health screenings and follow physician recommendations. By getting the health screenings that are recommended for your age and gender at the appropriate times, many medical issues can be identified and cared for in the early stages when the cost is the lowest. Putting off these screenings will only worsen and prolong the problem. If you have ongoing health concerns, follow your physician's recommendations to help keep these issues from worsening unnecessarily.
Match the need with the appropriate level of service. If a condition is life-threatening, call 911 or go to the emergency room. If it is non-life threatening, take a moment to determine which course of action would be appropriate. For non-emergency situations, you can utilize home health care books, online medical websites, and nurse hotlines available through your health insurance provider for guidance on treatment. If medical attention is required, go to the doctor's office. If the situation is urgent but not life threatening, go to an urgent care facility rather than the emergency room.
Research your options before purchasing health care services and prescriptions. If your doctor recommends a medical procedure, it is a good idea to seek a second opinion. You may be able to find a less expensive option that is more appropriate, or you may find that the original recommendation is not necessary at all. Keep accurate records of tests and procedures and provide this information to your doctor to prevent repeating a procedure that is not needed. In regards to prescriptions, if they are not needed, then don't fill them. Also, ask for generic/lowest-cost or over-the-counter alternatives, obtain pricing from several different pharmacies to get the best value, and utilize the 30-60-90 day refill plan if available.
Ask for discounts and review costs of medical bills. Ask your provider if discounts are available if you pay in advance rather than waiting to be billed. If a bill is sent for a service, carefully review the Explanation of Benefits document to ensure the services being billed for were received. Only the amount that the insurance company indicates is owed should be paid.
Live a healthy lifestyle. Prevention is the best medicine! The good news is you can prevent many health-related problems with exercise and a healthy diet. Research shows that individuals who suffer from obesity incur an average of $1,700 more per year in health care costs. In addition, smokers incur on average $1,600 more per year in medical expenses than nonsmokers.

Question 4

What type of company is Leavitt Group?

Accepted Answer

Leavitt Group is the $ijRank largest privately held independent insurance brokerage in the U.S. according to the $ijYear issue of Insurance Journal Magazine and the largest family-owned and operated brokerage according to Reagan Consulting.
In $ijYear, Leavitt Group has $offices+ locations in $states states, $$revenue million in consolidated revenue, and $$placedPremiums billion in placed premiums.

Question 5

How much money does Leavitt Group make?

Accepted Answer

Leavitt Group generated $$revenue million in consolidated revenue in $ijYear.

Question 6

What is Leavitt Group's revenue?

Accepted Answer

Leavitt Group's revenue was $$revenue million in $ijYear.

Question 7

What types of insurance are essential for oil and gas operations?

Accepted Answer

Key insurance coverages for oil and gas businesses include property insurance, liability insurance, business interruption insurance, environmental insurance, oil well insurance, and machinery breakdown insurance.

Question 8

How does the location of oil and gas operations affect insurance needs?

Accepted Answer

The location, such as offshore or politically unstable regions, can increase the risk, impacting coverage requirements and premiums due to factors like natural disaster susceptibility and population proximity.

Question 9

What factors influence insurance premiums in the oil and gas sector?

Accepted Answer

Premiums are affected by the size and scale of operations, nature of activities (e.g., offshore drilling), and a company&rsquo;s safety record and risk management practices.

Question 10

How can oil and gas companies reduce their insurance costs?

Accepted Answer

Companies can lower costs through effective risk management, such as implementing safety protocols, regular equipment maintenance, and thorough employee training.

Question 11

What is the process for filing an insurance claim in the oil and gas industry?

Accepted Answer

The claims process generally includes notifying the provider, documenting the incident, undergoing assessment, and either receiving compensation or a denial with an explanation.

Question 12

What are some common exclusions in oil and gas insurance policies?

Accepted Answer

Exclusions may include damages due to intentional acts, wear and tear, and risks related to war or nuclear hazards.

Question 13

How can regulatory changes impact oil and gas insurance coverage?

Accepted Answer

Stricter environmental and safety regulations can necessitate additional coverages or adjustments in risk management, influencing insurance costs and coverage needs.

Question 14

Why is risk management important?

Accepted Answer

Risk management is vital in helping you avoid risk and potential loss as much as possible. However, there are more benefits that you may not think of right away. When you take the time to reduce the size and number of your losses, you can positively impact the availability and affordability of insurance. In addition, by implementing risk management strategies, your business can protect against uncertainty, reduce costs, increase the likelihood of success, protect your public image, and protect people and employees from harm.

Question 15

How Much Does Well Insurance Cost for Drilling Companies?

Accepted Answer

The cost of water well insurance is influenced by several commercial factors:

Business Size and Annual Revenue: Larger companies with higher revenue typically face higher premiums.
Employee Count: More employees can increase workers' compensation and liability insurance costs.
Types of Equipment Used: Specialized, high-value drilling equipment may require additional coverage.
Scope and Scale of Operations: Projects involving deeper wells, hazardous sites, or large-scale operations may result in higher premiums.
Claims History: A history of frequent claims or high-risk incidents can raise insurance rates.

Question 16

How do I get artisan liability insurance?

Accepted Answer

Contact your Leavitt Select Insurance Services insurance advisor to determine what your needs are. They will give you more details about specific coverages and deductibles and help you tailor an insurance plan that's right for you and your business.

Question 17

What types of business insurance policies should an artisan contractor have?

Accepted Answer

Every insurance policy is different and should be tailored to your specific needs, but&mdash;in general&mdash;you want to ensure you&rsquo;re protecting your employees, tools, equipment, autos, and business with the following coverages:

General Liability
Commercial Auto
Commercial Umbrella
Builders Risk
Inland Marine
Workers Compensation

Question 18

Is business insurance required for artisan contractors?

Accepted Answer

Artisan liability insurance requirements vary by state. Some states or municipalities require general liability insurance for craftsmen to get a business license. Landlords may also require general liability insurance if you lease their space. Specific levels of coverage may also be required depending on the state where your business is located or the type of customer you&rsquo;re serving.

Question 19

Who needs artisan liability insurance?

Accepted Answer

If you work with your hands to build, repair, or install things&mdash;either in homes or businesses&mdash;artisan liability insurance might be right for you.
This type of insurance is meant for people in skilled trades. You might not call yourself an &ldquo;artisan,&rdquo; but if your work focuses on one or two parts of a construction or repair project (like plumbing, carpentry, or electrical work), you probably fit the description.
Here are some examples of professionals who typically need this coverage:

Electricians

Plumbers

Carpenters and framers

Painters

Roofers

HVAC technicians

Drywall installers

Masons and concrete workers

Landscapers

Pavers and excavators

Even if you&rsquo;re a subcontractor or a small independent contractor, if you provide hands-on work with tools, materials, or heavy equipment, artisan liability insurance is a smart (and often necessary) way to protect your livelihood.

Question 20

What is artisan liability insurance?

Accepted Answer

Artisan liability insurance&mdash;also known as artisan contractor insurance or craftsmanship insurance&mdash;is a type of coverage made specifically for skilled tradespeople like electricians, plumbers, and carpenters. If you work with your hands, tools, and materials to build or repair things, this kind of insurance is designed to protect you.
It helps cover common risks that come with the job, such as:

Someone getting hurt on the job site

Accidental damage to property

Theft or loss of your tools and equipment

Car accidents while driving for work

Industries Overview
Albertville

Every Industry Has Unique Risks

Business Knowledge & Experience: What Leavitt Group Brings

Other Products We Offer

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