US. Bankruptcies :
US. Bankruptcies Business bankruptcies have increased by over 64% in 2009 from what they were in 2008.
We are on track to have in excess of 60,000 businesses in the United States who will file bankruptcy by the end of 2009.
When you combine both personal and business bankruptcies we are looking at over 1.4 million by the end of 2009.
Good & Bad News :
Good & Bad News There are provisions in almost every policy that protect the consumer from the insurance company canceling your insurance due to bankruptcy.
The insurance company will continue to pay claims until the end of the policy year.
The bad news is that you have very little chance of continuing your insurance while in bankruptcy.
Insurance and Financing :
Insurance and Financing Maintaining sound business practices and good D&B reports and having above average FICO scores can help ensure that you receive the most competitive pricing possible for your insurance portfolio.
Protect Yourself :
Protect Yourself Making sure you have a provision in your general liability policy to protect you from your insurance been canceled during bankruptcy is tantamount to success for your small business.
Go to: www.commercialgeneralliabilityinsurance.org