Rebecca Kincaid

Operating as a Chartered Life Underwriter, Rebecca specializes in life insurance for business and estate-planning purposes. Rebecca's background also includes regional management and sales positions with leading insurance firms such as Parker & Company and Old Mutual Financial Network. In addition to her consultative support, she also acts as the Director of Life Sales for Tarkenton Financial.


Employment Practices Liability

While many business owners take the time to protect themselves and their businesses from outside risks, these are not actually the largest risks you face. In most cases, you are far more likely to be sued by an employee than an outsider.

Do You Need Directors and Officers Liability Insurance?

Many risks that your business faces are directed at your company’s actions. However, there are other dangers that apply specifically to individuals and their actions. Directors and Officers Liability Insurance (D&O) protects your company’s CEO, COO, CFO, and other corporate officers and outside directors.

If our company is going to let employees drive a company vehicle home at night, what coverage should we have in place to protect our business?

While we can offer general business advice on insurance issues and you can research insurance requirements yourself, we recommend that you discuss the fact that your business vehicles will be parked at your employees’ homes at night in order to clarify the proper insurance policies, policy content, and recommended coverage limits for your operations with a qualified business insurance agent.

How can we determine what type of insurance to purchase for our business?

We are not licensed insurance agents and do not provide insurance coverage recommendations or quotes to members; however, we can provide members with helpful business insurance information and resources. Also, fidelity bonds are common among businesses that have employees working in clients’ homes and other client premises;

What is a Business Owner’s Policy, or BOP?

One of the most popular insurance forms for small businesses is a business owner’s plan, or BOP. These policies have developed in recent years and increased in popularity. These policies are convenient and specifically designed for small or medium sized businesses.

What insurances should we carry at the very minimum to protect the company?

Several factors influence liability (general, professional, product, etc), property, vehicle, workers’ compensation, and other insurance and bond coverage types, amounts, and premiums, including the types of services, amount of company and/or owner assets, the amount of business sales, number of employees, customer contract requirements, and professional licensing requirements.

What are retirement plans for small business owners?

In terms of qualified retirement plans that incorporate an IRA, a SEP-IRA or SEP plan offers the greatest tax benefits to small business owners, but small business owners and their employees have a variety of retirement plan options. For example, there are several different types of IRAs: Traditional IRA, Roth IRA, Education IRA (EDIRA), now called Education Savings Accounts, SEP-IRA, SARSEP-IRA, and SIMPLE-IRA.

Does Business Liability Insurance Protect the Business Owner ?

There are different types of business liability insurance policies: General, Professional, etc. Generally speaking, the potential direct personal liability of a business owner in a business lawsuit varies based on the facts and circumstances. Also, business owners can be named personally in business lawsuits whether factual or frivolous.

How do I know if and what type of liability insurance is needed for my business?

Essentially every business needs some amount of property, liability, and vehicle insurance depending upon the business activities and other factors. Business insurance is generally based on the business activities and risks and not whether, for example, it is home-based or located in an outside office.

Product Liability

No matter what stage you occupy on the business chain, there are a few things you can do to protect yourself from product liability claims. Manufacturers and retailers confronting this issue have had to increase the costs of their goods and services in order to pay the price for not only litigation but also regulatory requirements imposed by state and federal governments.