Be Flexible With Your Business Insurance

No matter what they type of business you have insurance will be part of your overhead.  Some of the insurance you need is mandated by different levels of government regulations.  Other types of insurance needs are to protect your assets from lawsuits that could be related to the type of business you do.

You must be ready to change your business and your businesses’ insurance as the market and regulations change.

A recent example happened in the city of Scottsdale, Arizona to the cities’ pedicab operators.

Until now operating a pedicab in Scottsdale was relatively inexpensive. A person could operate a pedicab with little or no overhead and without restrictive, burdensome regulations.

On May 9, 2013 new regulations went into affect. To continue doing business in Scottsdale, pedicab operators must have a valid Arizona driver’s license, maintain insurance and adhere to regulations pertaining to the safety and visibility of the pedicab. The ordinance, which became law  includes penalties for non-compliance but does not specify any equipment inspections.  Other than the Arizona drivers license there is no other testing for operation in Scottsdale.

In Scottsdale, operators now must maintain at all times a commercial general-liability insurance policy of at least $1 million per occurrence and $2 million annual aggregate.

Scottsdale’s ordinance was prompted by a Jan. 4 crash involving a suspected drunken driver and a pedicab trailer on Scottsdale Road near Rose Lane. The two pedicab passengers suffered serious head and spine injuries.

When considering the changing needs for insurance products for your business or home remember contacting Bennett Insurance Group is the right move.  Give us a call at 623-979-4140

Presented By:
Jim Bennett
Bennett Insurance Group
623-979-4140
http://jimbennettinsurance.com
jim@jimbennettinsurance.com