Business Basics
This type of insurance covers damage to a company’s property caused by fire, theft, or natural disasters.
What is commercial property insurance?
Unlike agents who work for one insurance company, these types of agents are able to work with multiple insurance carriers?
What is an independent agent?
This is the amount you must pay out-of-pocket before your insurance company starts covering costs.
What is a deductible?
A one-on-one meeting with another member to deepen your business relationship.
What is a 1-2-1?
This is what BNI stands for.
What is Business Network International?
A requirement in most states, this policy protects employers from claims arising from workplace injuries.
What is workers' compensation insurance?
Independent agents provide this personalized service, ensuring policies are tailored to unique needs.
What is customized coverage?
This term refers to the regular payment you make to keep your insurance policy active.
What is a premium?
A term used to describe a business opportunity shared with another member.
What is a referral?
The core BNI philosophy that encourages giving referrals before receiving.
What is Givers Gain?
This coverage protects businesses from lawsuits related to customer injuries or property damage.
What is general liability insurance?
Independent agents can assist you with this process when it's time to reevaluate your insurance needs.
What is reviewing and updating policies?
This clause in an insurance policy specifies what is not covered by the insurer.
What are exclusions?
The structured portion where one member gives a deep-dive 10-minute presentation.
What is the feature presentation?
The maximum amount of time you get for a weekly presentation.
What is 60 seconds?
This type of insurance combines general liability and property insurance into a single policy for small businesses.
What is a Business Owners Policy (or package)?
Independent agencies like Alliance West Insurance offer this added layer of expertise and advocacy in claims situations.
What is support and guidance?
This document provides a summary of your insurance policy, including coverage limits and terms.
What is a declarations page?
The part of the meeting where each member shares who they’re looking to meet.
What is the Weekly Presentation or Weekly Ask?
The person needs to report referrals, 1-2-1s, and closed business.
Who is a BNI member?
This coverage is essential for businesses providing advice or professional services to protect against negligence claims.
What is professional liability insurance?
Working with an independent agent often saves businesses money by doing this.
What is shopping around for competitive rates?
This type of insurance covers liability and property damage caused by accidents involving a vehicle you own.
What is auto insurance?
A testimonial given about another member’s services.
What is a testimonial or "Thank You for Closed Business"?
The type of seat each member holds to avoid internal competition.
What is a category-exclusive seat?