Business Insurance Concerns
If you're a business owner, you probably know that business insurance prices are increasing at
a very alarming rate. In fact, most small business owners can no longer afford to provide health
insurance for their employees, and many small business owners don't have health insurance for
themselves and their families. Health insurance premiums are not the only type of insurance
coverage premium on the rise. In fact, more and more small businesses have to reduce the
amount of insurance coverage or simply do away with business insurance coverage completely.
Causes of Higher Premiums
There are many reasons why business insurance policy premiums have increased so much. For
example, health care costs have spiraled out of control due to a tremendous amount of litigation
and an ever-increasing number of civil lawsuits directed at physicians and hospitals. In response,
physicians and hospitals have had to charge higher rates for medical care, in order to pay
Increased malpractice insurance premiums result in higher health care costs. Higher health care
costs then create higher insurance medical insurance premiums. Then, of course, these premiums
increases are passed along to the owners of small businesses. The result is that adequate health
insurance coverage is simply too expensive for many small-business owners.
In addition, the current depression and problems with the economy have resulted in more than 2
million job losses. Therefore, crime rates have risen in some parts of the country. As a result,
insurers are now charging more to insure the contents of many businesses for items such as
inventory or expensive business equipment or machinery. In fact, premiums have increased so
much over the last couple of years that some businesses will now choose to simply gamble with
the possible loss of their inventory or business contents.
Potential Solutions to High Cost Premiums
In fact, more and more businesses are choosing to implement and utilize