Keeping the Wolves at Bay Be Informed About Liability Insurance. Farmers Market Boot Camp Program 2013
|
|
- Marvin Norton
- 8 years ago
- Views:
Transcription
1 Keeping the Wolves at Bay Be Informed About Liability Insurance and Sales Taxes Farmers Market Boot Camp Program 2013 Hal Pepper Financial Analysis Specialist Center for Profitable Agriculture Overview Introduction to risk Using liability insurance to manage risk Sales taxes on the sale of farm products 1
2 Objectives Increase awareness of tools to manage liability risk Increase understanding of sales tax rules and exemptions that apply to farmers who sell farm products Risk is The uncertainty regarding likelihood or magnitude of loss, damage or injury 2
3 Types of Risk 1. Legal Laws/regulations Injury to customers or employees 2. Human Resources Death, divorce, disability and disagreement Employee turnover 3. Business Interruption Weather, natural disasters, other 4. Production Weather, disease, pests, errors 5. Marketing Ability to entice customers Increased competition 6. Financial Ability to meet cash flow, obtain affordable credit, grow equity Damage or loss to personal property Risk Management Methods 1. Avoid Risk Choose not to engage in a specific activity 2. Reduce Risk Implement preventative measures/procedures, safety plans, safe handling procedures 3. Transfer Risk Transfer to another party typically with insurance 4. Accept Risk Prepare for loss or damages create emergency fund 3
4 Obtain insurance Example Methods to Transfer Risk Property, liability, health, disability, life, crop, etc. Learn and follow insurance requirements and claim procedures Liability Insurance Liability insurance is a way of protecting your business in case someone gets ill from eating products you sold them. You could be financially responsible if you are sued by them. 4
5 Liability Insurance Every business, whether large or small, is at risk of being sued for negligence causing property damage or bodily injury and legal fees from claim settlements are always increasing. Liability Insurance Insurance policies are complicated. Read the policy and understand what it covers. Understand the exclusions. Deal with an agent who understands the policy and your situation. 5
6 Liability Insurance Insurance should be treated like any other business expense. Know what you re paying for. Don t just hope you re covered. Insurance Coverage Options General Farm Liability Insurance Policy Commercial Business Liability Insurance Product Liability Insurance Policy Product Recall Insurance Policy Accidental or Product Contamination Policy Malicious Tampering Insurance Combination Policies Excess/Umbrella/Surplus Lines of Insurance 6
7 General Farm Liability Insurance Policy Protects against claims for bodily injury and property damage that occur on the farm premises or as a result of farm operations Accidents that affect farmers, employees, guests and customers Covers activities considered farming One definition of farming: the ownership, maintenance or use of premises for the production of crops or the raising or care of livestock, including all necessary operations Commercial Business Liability Insurance Covers activities that a farmer also undertakes that are not considered farming Written specifically for the business involved May provide coverage for injuries excluded in a general farm liability insurance policy 7
8 Caution Note: Many farmers believe their general farm liability policy provides them with coverage in the situation where someone gets ill from eating food the farmer sold them. In many situations, it may not! Caution The sale of produce that you purchased from another farmer is likely not covered under a general farm liability policy. 8
9 If you are selling processed products (like jams or meat) you may need more than a general farm liability insurance policy. Bodily injury does not include: Exclusions The transmission or exposure directly or indirectly by any insured or by any other person or instrumentality to any other person of any communicable disease, bacteria, virus, parasite, or other organism; or Emotional distress, humiliation, or other mental injury to a person unless it arises out of an actual physical injury to that person 9
10 Product Liability Insurance Policy Protects against claims of injury from fresh or processed food products that cause foodborne illness Covers products and completed operations General farm liability policy and commercial business coverage may be combined with a homeowner s policy Combination Policies 10
11 Excess/Umbrella/Surplus Lines of Insurance Provide catastrophic loss protection when the underlying insurance is inadequate Coverage and exclusions vary from company to company. The insurance company may place limits on retail sales that are considered farming or it may consider them to be a business that is not defined as farming. Does your policy include product liability coverage? Considerations 11
12 But I m only selling to friends and family I trust When you buy an insurance policy You are required to pay the premium at the time required or the policy will no longer be in force. You are required to report (in a timely fashion) any occurrences to the agent and company. 12
13 When you buy an insurance policy You are required to report any material changes in the nature of your activities or the property which is subject to insurance. You are required to cooperate with the insurer in matters of subrogation. How much insurance do I need? Consider the value of your assets. Consider the dollar amount of potential claims. Buyers of your product (grocery stores) may require a minimum amount of product liability insurance (Whole Foods $2 million) Discuss your particular situation with your insurance agent to verify coverage & needs. Reevaluate your coverage annually. 13
14 Make sure the proper business entity is insured. Premiums often are based largely on product sales and hazards involved. Provide annual sales updates to your insurance agent. Take Home Messages Product liability insurance is a vital legal risk management tool for direct marketers Carefully consider needs for coverage Work closely with insurance agent and communicate well and often 14
15 Tennessee Sales Tax Regulations on the Sale of Farm Products Sales Taxes on Sales of: Raised Farm Products Purchased Farm Products Sales Tax Topics Sales Tax Liability and Registering with Tennessee Department of Revenue 15
16 Question A man is driving 65 miles per hour on Hwy 64. Is he breaking the law? Some points in the Law (Title 67 of Tennessee Code) are clearer than others. Consult Sales and Use Tax Guides For specific situations, consider requesting a Letter Ruling 16
17 Atax that permits you to engage in the business of: Sales Tax Selling tangible personal property at retail Selling certain services at retail Charging admission to events Exemptions Exist for Farmers Sales of farm products by the farmer who raised them Certain sales of farm products that were purchased from the farmer who raised them 17
18 Sales of Farm Products by the Farmer Who Raised Them Products of the farm sold by the farmer who raised them are exempt from sales tax. Livestock Nursery Stock Fruits Vegetables Poultry Sales of Farm Products by the Farmer Who Raised Them The farmer who raises the product may be a person or an entity. When we talk about sales of farm products by the farmer who raised them we mean that the person or entity who sells the farm products to the consumer is the same person or entity who raised them. 18
19 Sales of Farm Products by the Farmer Who Raised Them Any Buyer Any Location No special registration needed. Certain Sales of Purchased Farm Products A farmer can buy farm products and sell them. When the farmer sells these purchased farm products, the sale is exempt from sales tax if two conditions are met. 19
20 Conditions for Tax Exempt Sales of Purchased Farm Products 1. The products must be purchased from the farmer who raised them, and Conditions for Tax Exempt Sales of Purchased Farm Products 2. The total amount of farm products raised & sold in a calendar year must be at least 50% of total sales of farm products in the same calendar year. Sales of Farm Products Sales of Raised Farm Products Sales of Purchased Farm Products 20
21 Example 1: Raised Farm Products 100% of Total Farmer Smith raises 1,000 pumpkins and sells them to consumers for $8.00 each for a total of $8,000. Does Farmer Smith owe sales tax when he sells the pumpkins? Answer: No. The sales are exempt from sales tax because Farmer Smith raised the pumpkins. Example 2: Raised Farm Products 50% or more of Total Farmer Smith raises pumpkins in a calendar year and sells them for $8,000, and sells pumpkins to consumers for $5,000 that were bought for resale from the farmer who raised them in the same calendar year. Are any of the pumpkin sales taxable? 21
22 Example 2: Raised Farm Products 50% or more of Total Answer: No, none of the pumpkins are taxable. Both the raised pumpkins and purchased pumpkins are exempt. Pumpkin Sales Sales of Raised Pumpkins $8,000 Sales of Purchased Pumpkins $5,000 Example 3: Raised Farm Products Less than 50% of Total If Farmer Smith s raised pumpkin sales are $8,000 and the pumpkins purchased from the farmer who raised them are sold to consumers for $10,000 Are any of the pumpkin sales taxable? 22
23 Example 3: Raised Farm Products Less than 50% of Total Answer: The raised sales of $8,000 are exempt. The sale of the purchased pumpkins ($10,000) are taxable. Pumpkin Sales Sales of Raised Pumpkins $8,000 Sales of Purchased Pumpkins $10,000 Example 4: Farm Products Purchased from Others If Farmer Smith s raised pumpkin sales are $8,000 and pumpkins are purchased from a broker and resold to consumers for $7,000 Are any of the pumpkin sales taxable? 23
24 Example 4: Farm Products Purchased from Others Answer: The sales of the purchased pumpkins ($7,000) are taxable because the pumpkins were not purchased from the farmer who raised them. Farmer Smith must pay sales tax on the sale of the purchased pumpkins. Registering with Tennessee Department of Revenue Farmer Smith should complete an Application for Registration with Tennessee Department of Revenue. Application for Registration may be completed and submitted online at 24
25 Remitting Sales Taxes When the Application for Registration is completed, the business is given option of filing online or on paper. File State and Local Sales & Use Tax Return SLS 450 to report to Tennessee Department of Revenue by the 20 th of the month following the period for which tax is due. 25
26 Documents Business Will Receive Upon registering, a business will receive Certificate of Registration Blanket Certificate of Resale (if qualified to make purchases for resale) Thresholds Thresholds when sales taxes become due: Taxable product sales are more than $4,800/year Taxable services (i.e., entertainment, hunting, agritourism) are more than $1,200/year Business is liable for sales tax, even if it doesn t collect from customer. 26
27 Sales Tax Rates State rate 7.00% Food (fruits and vegetables) taxed at lower rate of 5.25% Candy & prepared food taxed at 7.00% Local rate varies from 1.00% to 2.75% Maximum combined tax rate 9.75% (food 8.00%) Take Home Messages A farmer s sales of raised farm products ( products of the farm sold by the farmer ) are exempt from sales tax. The same business entity must raise and sell the farm products if the sale is to be tax exempt. 27
28 Take Home Messages Farmers may sell farm products tax exempt that were purchased from the farmer who raised them if raised farm product sales are at least 50% of total farm product sales. Business with taxable sales of products (>$4,800) or services (>$1,200) should complete Application for Registration and remit sales tax. Resources Sales Tax in Tennessee on the Purchase and Sale of Farm Products PB Agricultural Tax Guide Sales and Use Tax Guide Tennessee Department of Revenue (800)
29 Special Thanks to Tennessee Department of Agriculture Contact Us Center for Profitable Agriculture Hal Pepper s E mail hal.pepper@utk.edu (931)
Sales Tax, Business Tax and Product Liability Insurance
Sales Tax, Business Tax and Product Liability Insurance 2015 Tennessee Small Ruminant Conference Knoxville, TN July 31, 2015 Hal Pepper Financial Analysis Specialist Overview Sales taxes on the sale of
More informationAre You Covered? Be Informed About Product Liability Risk
Are You Covered? Be Informed About Product Liability Risk Hal Pepper Financial Analysis Specialist Pumpkin Field Day West TN Research & Educa>on Center September 25, 2014 Overview Introduc>on to risk Using
More informationKeep the Wolves at Bay Know the Rules About Business Tax When Selling Fruits and Vegetables
Keep the Wolves at Bay Know the Rules About Business Tax When Selling Fruits and Vegetables Farmers Market Boot Camp Workshops 2014 Hal Pepper Financial Analysis Specialist Purpose of this session -Increase
More informationWhat is an insurance policy? Financial Risk: Insurance Questions and Answers. What is insurable interest? What is insurable interest?
Financial Risk: Insurance Questions and Answers What is an insurance policy? A legally binding contract Insurance company and the policyholder (person insured) In exchange for payment (premium) The insurance
More informationValue-Added Agriculture in Tennessee: A Summary of 2012 Census Results December 2014 SP 769
Value-Added Agriculture in Tennessee: A Summary of 2012 Census Results December 2014 SP 769 Authors Rob Holland Director Center for Profitable Agriculture Megan Bruch Leffew Extension Specialist Center
More informationInsuring Your Farm Kevin Bourdon Co-op Insurance Companies Topics: What is Insurance and why have it? Types of insurance to consider, and how these
Insuring Your Farm Kevin Bourdon Co-op Insurance Companies Topics: What is Insurance and why have it? Types of insurance to consider, and how these policies will respond to you and the public Insurance
More informationProtecting Your Farm or Ranch Assets Developing Direct Market Agricultural Enterprises and Understanding Legal Liability in the Inland Northwest
Protecting Your Farm or Ranch Assets Developing Direct Market Agricultural Enterprises and Understanding Legal Liability in the Inland Northwest Chapter 4: Insurance School children at Greentree Naturals
More informationGlossary of Insurance Terms: (obtained from website: http://www.iii.org/individuals/glossary/alfa.l/)
Glossary of Insurance Terms: (obtained from website: http://www.iii.org/individuals/glossary/alfa.l/) ACTUAL CASH VALUE A form of insurance that pays damages equal to the replacement value of damaged property
More informationGuide to Commercial Insurance
Guide to Commercial Insurance Introduction Operating a successful business today requires knowledge in many different areas, and one of the most important things to consider are the types and amounts of
More informationRisk Management for Greenhouse and Nursery Growers in the United States
Risk Management for Greenhouse and Nursery Growers in the United States Dr. Robin G. Brumfield, Specialist in Farm Management Dr. Edouard K. Mafoua, Research Associate in Agricultural Economics Rutgers,
More informationInsuring your business
Insuring your business A guide for business operators in South Australia www.statedevelopment.sa.gov.au/smallbusiness Table of Contents 01 Overview... 3 02 Principals of insurance... 4 03 Types of insurance...
More informationFarm to School and School Garden Programs
Legal Issues Impacting Farm to School and School Garden Programs in Minnesota June 2011 This legal synopsis provides an overview of the key legal issues involved in farm to school and school garden programs
More information2011 Arkansas Agritourism Initiative Legal Protections Against Risk
2011 Arkansas Agritourism Initiative Legal Protections Against Risk Harrison Pittman Director NATIONAL AGRICULTURAL LAW CENTER University of Arkansas www.nationalaglawcenter.org www.nationalaglawcenter.org
More informationWhy you need an Umbrella Policy
Why you need an Umbrella Policy The more you have, the more protection you need This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions
More informationTax and Paperwork Checklist for Hiring a Farm Employee
Tax and Paperwork Checklist for Hiring a Farm Employee LAST UPDATED: June 7, 2014 FIRST PUBLISHED: January 31, 2013 By: Rachel Armstrong Executive Director and Attorney, Farm Commons rachel@farmcommons.org
More informationLMCIT Service Contract Insurance Recommendations
LMCIT Service Contract Insurance Recommendations The type and amount of insurance should be determined on a case-by case basis dependent upon various factors such as the scope of work and the potential
More informationInnoVeg. Horticulture Australia Limited. Front cover CASE STUDY. Direct Sales and Food Safety
InnoVeg Horticulture Australia Limited Front cover CASE STUDY Direct Sales and Food Safety Content Introduction 02 Direct sales 02 Pros and cons 03 Why does food safety matter and how do we manage it?
More informationBusiness insurance. a practical guide. 13 12 49 smallbusiness.wa.gov.au The small business specialists BUILDING YOUR KNOWLEDGE
Business insurance a practical guide BUILDING YOUR KNOWLEDGE Small Business Development Corporation 13 12 49 smallbusiness.wa.gov.au The small business specialists Business insurance Obtaining the right
More informationGlossary of Insurance Terms
From the Insurance Bureau of Canada (IBC) Accident: An event that happens by chance and is not expected in the normal course of events, which results in harm to people, damage to property or equipment,
More informationNATIONAL PANHELLENIC CONFERENCE, INC. Summary of Insurance Coverages. for. College and Alumnae Panhellenic Associations
NATIONAL PANHELLENIC CONFERENCE, INC. Summary of Insurance Coverages for College and Alumnae Panhellenic Associations June 1, 2015 June 1, 2016 Insurance Program Presented By: MJ INSURANCE Sorority Division
More informationFARM LEGAL SERIES June 2015 Tax Considerations in Liquidations and Reorganizations
Agricultural Business Management FARM LEGAL SERIES June 2015 Tax Considerations in Liquidations and Reorganizations Phillip L. Kunkel, Jeffrey A. Peterson, S. Scott Wick Attorneys, Gray Plant Mooty INTRODUCTION
More informationA Consumer Guide to. Farm insurance INSURANCE ADMINISTRATION
A Consumer Guide to Farm insurance INSURANCE ADMINISTRATION Table of Contents Who We Are 1 How We Help Consumers 1 Resources for Consumers 2 The Need for Farm Insurance 2-3 Frequently Asked Questions About
More informationChapter VII. Farm Insurance. By Bob Parsons
By Bob Parsons 123 Farms encounter and create risks every day through activities such as owning and renting land, selling products, owning and operating equipment, and hiring employees. Additionally, the
More informationIs a Captive Right for You? Case Studies
Is a Captive Right for You? Case Studies Designed By: www.drdacpa.com 1120 Bay Area Blvd 1011 Tremont Street Houston, Texas 77058 Galveston, Texas 77550 281.488.2022 409.765.9311 281.488.5864 (fax) 409.765.9393
More informationINSURANCE CONCEPTS (13)
INSURANCE CONCEPTS (13) CONTESTANT ID# START TIME END TIME Provided by the Griffith Foundation for Insurance Education TOTAL POINTS (500) Failure to adhere to any of the following rules will result in
More informationfocus Use umbrella insurance to protect your family and assets Should an FLP be in your family business s succession plan?
focus apr il/m ay 2 012 Use umbrella insurance to protect your family and assets Should an FLP be in your family business s succession plan? Mergers and acquisitions The ins and outs of earnout provisions
More informationLife Insurance: Business Applications
Life Insurance: Business Applications What is business life insurance? Life insurance is an important part of a business. It may be used as a funding mechanism for your buy-sell agreement and as business
More informationSmall Business Insurance Basics
Small Business Insurance Basics WHAT INSURANCE SHOULD MY BUSINESS HAVE? Most businesses need to purchase at least the following four types of insurance: Property Insurance Liability Insurance Business
More informationDon t Break A Leg Managing Risks on Your Small Farm
Don t Break A Leg Managing Risks on Your Small Farm Farming is a risky business, so what else is new? Too much rain, too little rain, a pest problem here, a tractor problem there farming is all about risk
More informationCOMMERCIAL GENERAL LIABILITY COVERAGE ENHANCEMENT ENDORSEMENT
THIS ENDORSEMENT CHANGES THE POLICY. THIS ENDORSEMENT CONTAINS LIMITATIONS AND RESTRICTIONS. PLEASE READ IT CAREFULLY. COMMERCIAL GENERAL LIABILITY COVERAGE ENHANCEMENT ENDORSEMENT This endorsement modifies
More informationCommercial Insurance. www.infarmbureau.com
Commercial Insurance www.infarmbureau.com Is your business properly insured? Don t wait until it s too late! Commercial Package Policy (CPP) Used by many classes of businesses manufacturers, restaurants,
More informationAgritainment Insurance and Risk Management
Agritainment Insurance and Risk Management Charting your Map to Success Ryan Albers, CPCU Farm Bureau Financial Services 1 Discussion Points Exposure to Liability Insurance Considerations Common Farm Liability
More informationAn introduction to insurance cover for businesses
An introduction to insurance cover for businesses All businesses need to be insured against potential risks such as contractual disputes, accidental damage, fire, flood or theft and claims for negligence.
More informationTo get ideas on the types of packages you might offer, visit the Classic Rosewood Inn website at www.thorwoodinn.com/packages.html
Another option is to offer add-on or inclusive packages for multi-night guests. In this scenario guests pay more, but in addition to their room they receive a gift certificate to a local restaurant and
More informationLIABILITY COVERAGE SECTION-FARM
ML-10 Ed. 1/87 LIABILITY COVERAGE SECTION-FARM DEFINITIONS-The following additional definitions apply to the Liability Coverage Section. 1. Farming means the ownership, maintenance or use of premises for
More informationInsurance Terms. COMMON TERMS... 3 About Best s Credit Ratings... 3 Agent... 3
Insurance Terms To look up the definitions of commonly used insurance terms click on the term below to move to that section of the document. We hope that you find this information helpful. Our comprehensive
More informationProperty & Casualty Coverage 101
Property & Casualty Coverage 101 Small Business Guidebook ADP SMALL BUSINESS GUIDEBOOK Automatic Data Processing Insurance Agency, Inc. The Basics & Key Things You Need to Know Create a smart strategy
More informationLiability Concerns for Farmers Involved in Direct Marketing of Farm Products
Liability Concerns for Farmers Involved in Direct Marketing of Farm Products (August 2003) Prepared by Carolyn J. Pugh Legal Research Assistant Agricultural Law Research and Education Center Pennsylvania
More informationCommercial Property. Inland Marine. Boiler and Machinery. Crime. Commercial Automobile. Commercial General Liability. Commercial Umbrella
A consumer information brochure published by the 21 South Fruit Street, Suite 14 Concord, NH 03301 phone: (800) 852-3416 fax: (603) 271-1406 TDD Access: Relay NH 1-800-735-2964 What Kind of Do I Need to
More informationQueensland Government Insurance Fund (QGIF) Insurance Policy (Version 6 - Effective 1 July 2014)
Queensland Government Insurance Fund (QGIF) Insurance Policy (Version 6 - Effective 1 July 2014) This policy is for the following Insurances: Section 1 - Property Section 2 - Business Interruption Section
More informationCOMMERCIAL GENERAL LIABILITY ENHANCEMENT ENDORSEMENT
COMMERCIAL GENERAL LIABILITY ENHANCEMENT ENDORSEMENT The Commercial General Liability Enhancement Endorsement is an optional endorsement that provides coverage enhancements. The following is a summary
More informationThe State Board of Equalization Welcomes You to the Basic Sales and Use Tax Seminar
The State Board of Equalization Welcomes You to the Basic Sales and Use Tax Seminar Welcome to the California State Board of Equalization s presentation on Basic Sales and Use Tax. 1 About This Presentation
More informationProfessional Indemnity Insurance Specialist Supplier Presentation
Bespoke Ready-Mix insurance Professional Indemnity Insurance Specialist Supplier Presentation EXCLUSIVE FOR MEMBERS OF THE SOUTHERN AFRICAN READY MIX ASSOCIATION ("SARMA") So what is a Professional Indemnity
More informationThis article illustrated deferred tax liabilities for a cash crop farm in west central Indiana. The
September 2014 Computation of Deferred Liabilities Michael Langemeier, Associate Director, Center for Commercial Agriculture This article is one of a series of financial management articles that will examine
More informationAutomobile Insurance 1
FCS7020 Automobile Insurance 1 Nayda I. Torres and Josephine Turner 2 An automobile is often the most expensive property that people own, next to a home. As a result, protection against loss of an automobile
More informationTHIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. GENERAL LIABILITY DELUXE ENDORSEMENT: INTEGRATED TECHNOLOGY
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. GENERAL LIABILITY DELUXE ENDORSEMENT: INTEGRATED TECHNOLOGY This endorsement modifies insurance provided under the following: COMMERCIAL GENERAL
More informationVIATICAL SETTLEMENT PROFESSIONALS, INC. MASSACHUSETTS CHECKLIST
MASSACHUSETTS CHECKLIST Please use this checklist to insure you have enclosed all the documents necessary to process your application efficiently. Completed Personal and Insurance Information Form Completed,
More informationPolicy Considerations for Covering Special Exposures. Claire Lee Reiss Program Director National League of Cities Risk Information Sharing Consortium
Policy Considerations for Covering Special Exposures Claire Lee Reiss Program Director National League of Cities Risk Information Sharing Consortium Special exposures Coverage that targets a loss with
More informationInsurance. Registered and Head Office - The Dudson Centre, Hope Street, Hanley, Stoke- on- Trent, Staffordshire ST1 5DD Tel: 01782 683030
Insurance Risks and legal responsibility It is up to your management committee, board, or trustees to identify and manage risks for your organisation, as well as understand their own legal obligations
More informationInsurance basics for nonprofit organizations
Insurance basics for nonprofit organizations Updated: July 2012 This document is intended as general and abbreviated guidance for nonprofit organizations. Because every organization s insurance needs are
More informationCHOOSING STRATA INSURANCE: A GUIDE FOR STRATA COUNCILS
Insurance for strata corporations is much more complex than insurance for single-family dwellings. This guide will give you the basic information you need to make a wise insurance decision, whether your
More informationWhat You should Know. About Buying Life Insurance. Life insurance protects your financial future. It provides
Life insurance protects your financial future. It provides the resources your family or business may need to pay immediate and continuing expenses when you die. What You should Know About Buying Life Insurance
More informationCITY OF CORNING REQUEST FOR PRICE QUOTES PAVEMENT MARKINGS
CITY OF CORNING REQUEST FOR PRICE QUOTES PAVEMENT MARKINGS Quotes for the installation of pavement markings for the City of Corning will be received by the City of Corning at the office of the Department
More informationCopyright 2013 Cover Agency Ltd.
Are You An Accountant? Do You Have Offices, or Provide Accounting Services Overseas? If so, you need Comprehensive International Travel & International Accountants Insurance, tailored to the needs of Accounting
More informationWhy Obtain Student Medical Malpractice Insurance?
Why Obtain Student Medical Malpractice Insurance? Important Notice & Disclaimer Please Read! This presentation is for use by Western Washington University (WWU) students only. Neither WWU, nor any officer,
More informationIncisive Business Guide to Business Insurance
Incisive Business Guide to Business Insurance Business Insurance Guide Summary This guide from Incisive Business outlines the features and benefits for your business from taking out business insurance.
More informationChapter 10. Chapter 10 Learning Objectives. Insurance and Risk Management: An Introduction. Property and Motor Vehicle Insurance
Chapter 10 Property and Motor Vehicle Insurance McGraw-Hill/Irwin Copyright 2012 by The McGraw-Hill Companies, Inc. All rights reserved. 10-1 Chapter 10 Learning Objectives 1. Develop a risk management
More information#33 USA Liability Insurance Bulletin
#33 USA Liability Insurance Bulletin December 2006 Introduction This bulletin is intended to provide NA service committees with general information about liability insurance coverage for their groups and
More informationTYPES OF INSURANCE. Advanced Level 2.6.5.G1
TYPES OF INSURANCE Advanced Level Take Charge Today August 2013 Types of Insurance Slide 1 WHY IS IT IMPORTANT TO HAVE INSURANCE? 2.6.5.G1 Risk - chance of loss from an event that cannot be enerely controlled
More informationBUSINESS CASE STUDIES
BUSINESS CASE STUDIES Below you will find 2 Case Studies of 2 very different organisations. An small Advertising Firm; & a well established Construction Equipment Hire Business. Most business owners have
More informationLiability Insurance: What exactly is it and do I really need it?
Liability Insurance: What exactly is it and do I really need it? by Monica Romig Green One of the benefits that comes with membership in ESDA is access to liability insurance. Up until this month, we were
More informationCGT is a tax on the profit you make from selling certain assets such as property, shares or other investments e.g. antiques and fine art.
Capital Gains Tax A brief history CGT was first introduced in 1965. Until then capital gains were not subject to tax. This had led many people to avoid Income Tax by converting (taxable) income into (tax
More informationKeeping It Legal: Regulations and Licenses for Growing and Selling Food in Oregon
Keeping It Legal: Regulations and Licenses for Growing and Selling Food in Oregon Adapted from Growing Farms Online, a comprehensive training program for beginning farmers, from the OSU Small Farms Program.
More informationLESSON ONE: MARKETING SERVICES
Basic Economics of an Agricultural Cooperative A Self Study Guide for Members and Staff of Agricultural Cooperatives LESSON ONE: MARKETING SERVICES Objective: To learn the basics of how a cooperative can
More informationChapter One: Understanding Your Business Risks...1 Five Strategies for Managing Your Risks...2
Contents Introduction Part I: Managing Your Business Risks Chapter One: Understanding Your Business Risks.......................1 Five Strategies for Managing Your Risks..............................2
More informationTENNESSEE DEPARTMENT OF REVENUE LETTER RULING # 02-13 WARNING
TENNESSEE DEPARTMENT OF REVENUE LETTER RULING # 02-13 WARNING Letter rulings are binding on the Department only with respect to the individual taxpayer being addressed in the ruling. This presentation
More informationWorkers Compensation 101
Workers Compensation 101 Terminology, Concepts and Principles Melissa LeRoy VP Sales Specialty Risk Services Definition Workers Compensation State-mandated, employer-provided provided coverage in all 50
More informationSANTAM UMBRELLA LIABILITY
SANTAM UMBRELLA LIABILITY DEFINED EVENTS 1. Damages, costs, fees and expenses which the insured shall become legally liable to pay consequent upon Injury, Damage, Malice or Negligent Advice which occur
More informationWHAT YOU SHOULD KNOW. About Buying Life Insurance. Life insurance is financial protection. It provides the
Life insurance is financial protection. It provides the resources your family may need to pay immediate and continuing expenses after you die. WHAT YOU SHOULD KNOW About Buying Life Insurance There are
More informationAgriculture Insurance Programs developed with PPP mechanisms case study of Europa Re
IIF 2015 Property Insurance in a Stormy Era Munich, June 22-23 Agriculture Insurance Programs developed with PPP mechanisms case study of Europa Re Marijana Lemic-Saramandic, MSc Country Program Manager
More informationInsurance. for your small. business
Insurance for your small business @BritishInsurers As an employer, you are legally required to have Employers Liability Insurance. If you use motor vehicles for your business, you are legally required
More informationTime: Sundays 9:00am-2:00pm Labor Day-Memorial Day Sundays and Thursdays 9:00am-2:00pm Memorial Day-Labor Day
The 30A Farmers Market, LLC., at Rosemary Beach, Florida Rules and Guidelines Mission: To provide local food growers and producers an effective direct market sales site and to provide consumers with a
More informationMANAGING LEGAL LIABILITY SERIES: Insurance Factsheet
MANAGING LEGAL LIABILITY SERIES: Insurance Factsheet Lisa Whitus, CIC, Virginia Farm Bureau Jesse Richardson, Associate Professor, School of Public & International Affairs Martha A. Walker, Ph.D., Community
More informationLiquor. (Occurrence Form)
Liquor LIABILITY INSURANCE POLICY (Occurrence Form) 95A Turnpike Road Westborough, MA 01581 (508) 366-1140 THIS POLICY JACKET WITH THE Liquor LIABILITY POLICY FORM, DECLARATIONS PAGE AND ENDORSEMENTS,
More informationINSURANCE. Section 1 TAXABLE INSURANCE CONTRACTS. Taxable Insurance contracts
BULLETIN NO. 061 Issued June 2012 THE RETAIL SALES TAX ACT INSURANCE This bulletin explains the 2012 Budget changes affecting insurance contracts. Effective July 15, 2012, retail sales tax (RST) applies
More informationHEALTHCARE PROVIDERS WORKPLACE LIABILITY COVERAGE PART OCCURRENCE
HEALTHCARE PROVIDERS WORKPLACE LIABILITY COVERAGE PART OCCURRENCE THIS IS AN OCCURRENCE COVERAGE PART AND, SUBJECT TO ITS PROVISIONS, APPLIES ONLY TO ANY CLAIM WHICH IS THE RESULT OF INJURY OR DAMAGE THAT
More informationLife Settlements Can be a Life Saver
Life Settlements Can be a Life Saver For many advisors the concept of selling an existing life insurance policy is new. Just asking the question sounds strange. Why would a client want to sell a life insurance
More informationCHAPTER 18 GENERAL INSURANCE
WISCONSIN LEGISLATOR BRIEFING BOOK 2015-16 CHAPTER 18 GENERAL INSURANCE Insurance protects against unexpected losses of income or property. The state regulates general insurance matters through the Office
More informationA Guide to Insurance - Leaflet CC49
Charity Commission website, May 2011 This factsheet is a short guide to insurance for voluntary and community groups in Warrington. It should be seen alongside the guidance set out by the Charity Commission
More informationCGT is a tax on the profit you make from selling certain assets such as property, shares or other investments e.g. antiques and fine art.
Capital Gains Tax A brief history CGT was first introduced in 1965. Until then capital gains were not subject to tax. This had led many people to avoid Income Tax by converting (taxable) income into (tax
More informationFinancial Planning Exam II Sample Exam 2014
Financial Planning Exam II Sample Exam 2014 True/False Indicate whether the sentence or statement is true or false. 1. Some of the issues that the Affordable Health Care Act are attempting to address are:
More informationLearnings from Global Best Practices in Agriculture Insurance
Learnings from Global Best Practices in Agriculture Insurance Presented at IFPRI-IIDS Workshop on Best Practices in Agriculture Insurance in South Asia, at Kathmandu, Nepal Presented by: VIJAY SARDANA
More informationINSURANCE CONCEPTS (13)
INSURANCE CONCEPTS (13) CONTESTANT ID# START TIME END TIME Provided by the Griffith Foundation for Insurance Education TOTAL POINTS (500) Failure to adhere to any of the following rules will result in
More informationA Sample Credit Report. Exam #2. Question 2. FICO Assignment. Question 2. Question 1
Exam #2 Average = 76.03 (including extra credit assignment) Max: 100 Min: 41 A Sample Credit Report Yahoo! Finance provides a sample report. You can see what exactly are included in a typical consumer
More informationSales and Use Taxes: Texas
Jay M. Chadha, Fulbright & Jaworski LLP A Q&A guide to sales and use tax law in Texas. This Q&A addresses key areas of sales and use tax law such as tax scope, multi-state transactions and collecting taxes
More informationVIATICAL SETTLEMENT PROFESSIONALS, INC. LIFE SETTLEMENT BROKER 2 W. RUNSWICK DRIVE, RICHMOND, VA 23238 PH: 804-564-9469 FAX: 804-482-2728 www.vspi.
OREGON CHECKLIST Please use this checklist to insure you have enclosed all the documents necessary to process your application efficiently. Completed Personal and Insurance Information Form Completed,
More informationHomeowners Audio (Part #3) Liability Insurance
Homeowners Audio (Part #3) Liability Insurance Welcome to the Insurance University audio series. The topic of this presentation is Homeowners Insurance. This is part three in the series. Part one discussed
More informationEstimation of Deferred Taxes
Estimation of Deferred Taxes With this program, the user can estimate current and noncurrent deferred taxes. Deferred Taxes Deferred taxes represent the federal income, state income, and Social Security
More informationSelling Produce in Minnesota - Know Your Laws
Selling Fruits and Vegetables to Local Retailers and Restaurants An Overview of Legal Issues CAUTION: This is an outline for educational purposes only. To learn the details about any certain point, read
More informationApplication for Ohio Workers Compensation Coverage
Application for Ohio Workers Compensation Coverage Have questions? Need assistance? BWC is here to help! Call 1-800-OHIOBWC, and listen to the options to reach a customer service representative. You can
More informationEconomic Education for Consumers Chapter 14 Study Guide Automobile and Home Insurance: Sharing the Risk
Economic Education for Consumers Chapter 14 Study Guide Automobile and Home Insurance: Sharing the Risk Section 14-1 Insurance Basics Define Risk Management. Define Shared Risk. How do insurance companies
More informationCooperative of American Physicians Group Personal Excess Liability Program
Enrollment Instructions Cooperative of American Physicians 2013 Enrollment Form Coverage Effective - January 1, 2013 Complete the Participant Contact Information section using the spaces provided. Select
More informationPersonal Liability Insurance
Vertex Wealth Management, LLC Michael J. Aluotto, CRPC President Private Wealth Manager 1325 Franklin Ave., Ste. 335 Garden City, NY 11530 516-294-8200 mjaluotto@1stallied.com Personal Liability Insurance
More informationThe Nuts & Bolts of Insurance for Nonprofits
The Nuts & Bolts of Insurance for Nonprofits www.steelbridgeins.com 888.647.4777 It s more than what you need. It s what you deserve. Purchasing insurance for a nonprofit organization can be a confusing
More informationBusiness tax tip #4 If You Make Purchases for Resale
Business tax tip #4 If You Make Purchases for Resale If you're a buyer... Does my sales and use tax license entitle me to make purchases without paying sales and use tax? No. Contrary to what many people
More informationAuto Insurance for New Mexico s Young Drivers
Auto Insurance for New Mexico s Young Drivers Prepared for New Mexico s Young Drivers and Their Parents by: One of the major events in many people s lives is earning the privilege of driving a motor vehicle.
More informationMerchandise Accounts. Chapter 7 - Unit 14
Merchandise Accounts Chapter 7 - Unit 14 Merchandising... Merchandising... There are many types of companies out there Merchandising... There are many types of companies out there Service company - sells
More informationUnderstanding Professional Liability Insurance
Understanding Professional Liability Insurance Definition Professional liability is more commonly known as errors & omissions (E&O) and is a form of liability insurance that helps protect professional
More informationZurich Insurance Middle East S.A.L. Commercial Insurance to protect your business
Zurich Insurance Middle East S.A.L Commercial Insurance to protect your business 2 Each business is unique and understanding your needs is at the heart of what we do. We appreciate that one size doesn
More informationWorkers Compensation. Record Keeping and Reporting Guides. Packet Contents: Record Keeping. Computing Worker Hours. Standard Exception Classifications
Workers Compensation Record Keeping and Reporting Guides Packet Contents: Record Keeping Computing Worker Hours Standard Exception Classifications Excluded Employments Corporate Officers Limited Liability
More information