Allied Insurance Managers, Inc. understands all the risks involved for professionals working in the construction industry. Financial costs that can arise out of bodily injury or property damage to a third party can be extremely high for both upper tier and lower tier contractors, hence the need for insurance coverage that covers all bases. As a leading business insurance broker in Michigan, our company specializes at insuring all types of contractors in order to help relieve professionals of financial responsibility and liability.
Although insurance is what we mainly offer, we also specialize in risk transfer, loss control and other risk management solutions for the Construction Industry. We cater to general contractors, paving contractors, street and road contractors, mechanical contractors, HVAC contractors, plumbing contractors and more.
You may toy with the idea of starting a micro-distillery, also known as craft distillery, which is essentially a small-scale version of the world’s biggest distilleries where drinks are blended from highly varied ingredients to bring classic or new spirit to the market. You can produce virtually any type of liquor there is, but the real challenge to carve out a niche for yourself is in creating drinks no one would find anywhere else but in your very own distillery.
Ten years ago, craft distilleries were few and far-between: only 70 existed throughout the nation. Now that number has grown to a total of 623, producing new interpretation of classic spirits from whiskey, gin, vodka, and rum, Washington, Colorado, and Michigan are the top three states when it comes to craft distilling. But if you wish to join this elite group, you need to face a mountain of preparations at hand.
In a bid to attract more investors to Michigan, the state began pulling its workers compensation rates down in 2011. According to the Workers’ Compensation Agency (WCA), as of 2014, the rates have dropped by 22.7 percent over a three-year period, and are still expected to drop further next year, bringing them to 27.7 percent over a four-year period.
WCA data also shows that the drop in workers comp rates took off in 2012, when it dropped by 7.4 percent. By this time, House Bill 5002, which WCA director Kevin Elsenheimer credited with the enormous drop, had already taken effect. Under the law, a worker can receive 80 percent of his net weekly salary if his injury caused total disability and wage loss.
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Insurance is an important aspect that you as a business owner must face. States will not allow you to operate if your employees are not covered by workers compensation insurance. This places a significant importance on proper insurance coverage. However, high insurance premiums are also among the main reasons why businesses lose money.