In the early 1970s, the high cost of liability claims and unchecked jury awards were forcing doctors in high risk specialties such as obstetrics and neurosurgery to close their practices. Medical malpractice insurance premiums were soaring, threatening to force thousands of doctors out of business.

Workers’ compensation, often referred to as workers’ comp, is a type of insurance coverage that provides employees injured on the job with medical treatment and prescribed wage replacement. All employers are mandated to provide their employees with workers’ compensation coverage. In exchange for this coverage, employees cannot sue the employer for the injuries.

More than 24 million entrepreneurs operate a business out of their homes. Whether a masseuse, an accountant, a baker or a computer consultant, each should consider the insurance needs of their home-based companies.  Many business owners mistakenly believe that their homeowner’s policies cover the property and operations of their business. However, most homeowner’s policies cover only $1,000 to $2,500 for business equipment and offer no liability protection or loss of income coverage. 

Catastrophes not only leave an impact on thousands of homeowners and renters, but on a community's businesses as well. Many businesses can be either destroyed or forced to close due to severe damages, costing businessowners huge financial losses. In addition, some businesses may not have the right kind of insurance or enough insurance to cover their losses, which may make it difficult for them to recover quickly.