Delaware Business Insurance Update by CNC Insurance, Premiums at risk with Fiscal Cliff

If Congress does not act, then US taxpayers will see some of the biggest tax increases in the history of the country after Jan. 1st. Business owners, especially small business, will see the majority of these increases. These taxes could have a direct impact on insurance premiums. If small business is hit with increasing taxes and increasing premiums at the same time then something is going to give. My guess is taxes will get paid but premiums will not. Coverage may be reduced by business owners also. The insurance industry needs to realize that the pending fiscal cliff would hurt their primary source of income which is premium payments. I would imagine there are numerous insurance CEO's calling their congressmen as we speak.  Until next time be careful out there and know your risk.
G.Kevin Nemith, Business insurance and small business insurance specialists, serving Delaware, Md, NJ, and Pennsylvania.
www.cncinsurance.com
www.bizinsurancetv.org



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