Learn from a national business insurance watchdog: Little-known tips for saving big money during COVID-19.

As a national insurance industry watchdog and business advocate, we offer complimentary consultations to help you understand your business’ options.

Covid-19 continues to decrease revenue and disrupt cash flow for many businesses. Now’s the time to cut expenses and weigh priorities in order to sustain the company through the economic downturn.

In a system already stacked against the policy holder, the insurance industry is difficult to navigate in the best of times. Now more than ever, you need support to ensure you have the best rates, the right coverage and fair enforcement of your current policies.

Download the COVID-19 Tool Kit

Business insurance is an area that many (from the C-suite to HR departments) don’t think is an option when looking to cut company expenses and manage cash flow.

Learn what your business can do to sustain through this economic downturn.


    We’ve included some of the most common questions below. Additional specific advice will often depend on your policies and the state you live in. Reach out to our team in the form above for more personalized support.

    • What if I think my carrier is offering an unjustifiably low claim payout?
      • Unfortunately, many insurance carriers are offering unfair claim payouts. Why? Because they know court systems are experiencing severe backlogs, meaning businesses have limited options to dispute through civil cases in the foreseeable future. Simultaneously, many businesses are facing economic hardships that some insurance carriers hope will convince them to accept lower payouts to get the cash in hand sooner. If you feel this is happening to you, we can evaluate if the dispute is warranted and provide guidance on your options. 
    • Can any insurance adjustments be retroactively applied?
      • Yes! Adjustments to workers’ compensation insurance and some other policies can be retroactively applied so savings begin when changes (such as decreased staff or adjusted class codes) first went into effect – meaning you could have months of savings waiting for you. 
    • What happens to my insurance if an employee has Covid-19?
      • Many states’ Department of Insurance are reviewing workers’ compensation claims for possible removal from experience modification if employees test positive for Covid-19. If this happens, businesses will maintain a better claim history, thereby improving their ex-mod which is either a positive factor or credit, or a surcharge (negative factor). Get in touch with us so we can offer more specific advice based on your state.
    • My agent (or carrier) said there is a moratorium on new policies. What can I do?
      • As a result of the pandemic, some carriers have temporarily suspended the writing of new policies. In fact, some carriers will decline to quote or renew your company’s coverage if any employee or patron has tested positive for Covid-19. RateCraft may be able to help by working directly with your state DOI, holding both the agent and carrier accountable for operating within your state’s existing and changing insurance laws. 
    • My agent (or carrier) said my rates are going to increase. What can I do?
      • Insurance rates are expected to increase in many cases right now. That being said, you do have options to negotiate. Unfortunately, agents are paid based on how high your premiums are, so they aren’t always motivated to get you the best deal. That’s where a third-party advocate can be really helpful. Additionally, most companies are already paying too much for insurance. In our experience, we’re able to find savings for our clients on their existing policies 98% of the time, sometimes in the six or even seven figures. 
    • Is my business covered for Covid-19 under our insurance policy’s income loss clause?
      • The answer to that depends on the specific language used in your policy. Even if your agent said you were not covered, the carrier denied your claim, or you were offered a low payout, there may be things we can do to help!
    • How does it work to get a full review of my policies to see where I can save money, and how much will it cost me?
    • It is time to renew our business insurance contract. What do I need to consider this year given the pandemic?
      • Be cautious of any new endorsements. Make sure you fully understand any new contract language if insurance coverage limitations have been put in place, especially an exclusion that could remove your ability to claim, effects from coronavirus-related claims or other things related to communicable diseases. 
    • Should I push for very clear coverage guidelines for communicable diseases in my policy?
      • Although it may not seem like it in the moment, vague coverage surrounding communicable diseases can be better than a total exclusion, as it can give business insurance attorneys more room to find an opening for coverage in the case of a legal conflict with the carrier. Understand all potential exclusions to the policy, some of which can be quite broad, excluding all claims related to a virus, bacteria or even intangible damages. As with all insurance, the specific language used is very important so make sure your agent is extremely well versed and even consider an outside industry expert to make sure you are protected.