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We provide coverage for domestic organizations with foreign exposures.
An increasing number of U.S.-based companies are expanding overseas. This growth brings new customers, new opportunities and of course new risks: An employee is injured while traveling abroad for business. A foreign manufacturer sues for a defective part your company supplied. Office equipment gets damaged in a fire at the European sales office. To make matters worse, most traditional business insurance policies stop short of providing adequate coverage abroad. Fortunately, Binger Financial Services, LLC, extends a full line of global insurance protection.
Trade Credit (Accounts Receivable Insurance)
Why Trade Credit Insurance?
Each time you grant credit to your customers, your company is exposed to the risk of non-payment. There is a greater chance that a business will experience a loss within its accounts receivable than any other asset. With an average of 40 percent of a company’s assets in the form of trade debts, accounts receivable are a critical component of your balance sheet, directly affecting cash flow and profitability. Yet while you insure your company against property loss, liability or other unpredictable, high-exposure events, you’re leaving one of your most valuable – and vulnerable – assets open to loss. Accounts receivable coverage through trade credit insurance offers a safer way to do business.
Trade credit insurance, also called accounts receivable insurance or trade credit risk insurance, is a financial tool that manages both commercial and political risks that are beyond a company’s control. It is protection against your customers’ failure to pay their trade debts. This can happen when your customer becomes insolvent or fails to pay within the agreed upon timeframe.
The essential value of credit insurance is that it provides not only peace of mind to the client, who can be assured that their trade is protected, but also valuable market intelligence on the financial viability of the client’s customers (buyers), and, in the case of buyers in foreign countries, on any trading risks peculiar to those countries . As well as providing an insurance policy that match the client’s patterns of business, we will establish the level of cover that can reasonably be afforded to the client for trade with each individual buyer, by analyzing the buyer’s financial status, profitability, liquidity, size, sector, payment behavior and location.
Cyber Liability Insurance
In today’s insurance market, Cyber Liability/Privacy & Security Insurance has evolved into a critical coverage to offer your clients.
Coverage for theft of personally identifiable non-public information in computer data and hard copy form and liability arising from failure to comply with state breach-notice laws; and
Coverage for failure to comply with the insured’s privacy policies.
Fall festivals… school functions… upcoming holiday celebrations. What’s cooking in your corner of the world when it comes to special events?
You can help cover your community. Binger Financial Services, LLC affords a market for a wide range of special events. We understand that quick quotation turnaround is mandatory in order to meet the specific needs of the special events marketplace and has team of underwriters dedicated solely to handling special events business.
Auctions (Except at a private residence)
Concerts: Classical, Jazz, Country and Blues
County Fairs and Festivals
Craft Fairs / Garden Shows
Dance and Music Recitals
Dog and Cat Shows
Fundraising Events / Social Gatherings / Social Club Events
Parties: Banquets, Weddings, Anniversary, Graduation, Birthdays, Proms & Luncheons
Picnics and Pig Roasts
Religious Meetings or Church events
Reunions: Class & Family
Soap Box Derbies
Sports Tournaments / Exhibitions (spectator liability only)
Theatrical Events and Musicals
Primary General Liability Limits of $1,000,000 per occurrence/$3,000,000 Aggregate
Umbrella Limits up to $10,000,000 available
(Copy of contract required for limit over $2M)
Also available for eligible accounts:
Hired and Non-Owned Auto
Our bank-owned, banker-directed program has been supporting the banking industry for nearly 30 years
and is endorsed by the American Bankers Association.
Directors and Officers Liability
Employment Practices Liability
Financial Institution Bond
Internet Bankers Liability
Property & Casualty
Trust Services Liability
Bankers Professional Liability
Surety Bonds, including STAMP
Broad Form Company Liability,Property Insurance
Deciding on the right Insurance protection for your Florida church can seem complicated. There are a variety of potential risks that you must be aware of. Binger Financial Services is a licensed independent insurance broker with experience in helping Florida churches get the right policy for the right price.
Common inclusions on church insurance policies include Property Insurance, General Liability, Sexual Misconduct Liability, Directors & Officers Liability, and Theft
Property coverage includes such items as your buildings, contents, signs, property in the open, and fences. Your policy will automatically include coverage for standard items, along with many non-standard items, such as the following:
Equipment breakdown, including computers, boilers, and electrical equipment.
Newly acquired, personal and off-premise property.
Pastor’s personal property.
Ordinance or law.
Stained glass windows.
Your church may also elect to add the following endorsements to your policy at a modest charge for even greater property protection:
Crime coverage provides protection for losses resulting from theft, employee dishonesty, forgery and alteration.
Inland marine covers property that may be transported from one place to another, as well as unique types of property and possessions of artistic merit.
General Liability Coverage
General Liability coverage protects the church against claims of bodily injury or property damage arising out of its premises or operations for which the church may be legally liable. It also protects the church against its liability for personal and advertising injury offenses, such as libel and slander. Medical expense coverage is also included, regardless of fault.
Cornerstone Plus includes General Liability protection against claims resulting from ministers’ spiritual counseling.
Those afforded General Liability protection include church members, employees, officials, staff, and volunteers acting on behalf of the church.
A wide variety of optional coverages are also available:
Non-owned and hired auto liability
Directors, officers and trustees officers liability
Employment practices liability
Sexual misconduct liability
Employee benefits liability
Binger Financial Services, LLC works with carriers who specialize in Recreational Marine. They have been a leading provider of yacht insurance for decades, offering the comprehensive policies available for both private pleasure and select charter usage. Policies can provides all-risk protection for a wide range of pleasure yachts 27 feet or greater in length and up to $5 million in value, including select occasional charter opportunities, along with many unique benefits and features that are in the marketplace. Some eligibility info:
Yachts (27′ or greater and up to $5 million in value) – Yachtsman/Boatsman® Policy
Length: Minimum 27′ – no maximum
Hull values: No minimum – $5 million maximum
No high performance vessels (refer to our Performance Policy)
Available in all states except Alaska. Limited availability for vessels permanently kept in Florida and the Gulf of Mexico.
Florida risks: Florida eligibility is only available for preferred vessels over $1 million in value with a permanent, full time captain employed
Gulf of Mexico: maximum vessel age is 20 years, no absentee owners
Owners/Named insured must be 21
Vessel owners should be experienced in similar size/type vessels. Refer first time boat owners or those making a jump of 12′ or more.
Condition and Valuation surveys required at 10 years of age for salt water risks. 20 years of age for fresh water risks.
Lay-ups – afloat or ashore
Small Boats (under 27′) – Yachtsman/Boatsman Policy
Length: no minimum – maximum 26′
Hull values: no minimum – no maximum
No high performance boats (refer to our Performance Policy)
Bass boats acceptable. Pontoon boats on inland waters acceptable.
Available in all states except Alaska and Florida
Owners/Named insured must be 21
Some boating experience is desired – refer first time boat owners
Give us a call today at: 727-822-2719 to start the process!