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Handyman Insurance, SBA Issues Important Changes and Clarification Concerning Small Business Regulations

Sunday, Oct. 9th 2016 6:48 AM

The Small Business Administration (“SBA”) has had a very busy week. First, on May 24, 2016, the agency issued “Statement of General Policy No. 3” (“the Statement”) clarifying the hotly debated inter-affiliate sales exclusion (an issue relating to the counting of annual receipts for purposes of determining size). Then, yesterday, the agency published a lengthy final rule, which implements the long-awaited small business regulation changes mandated by the National Defense Authorization Act (“NDAA”) of 2013. Collectively, the Statement and the rule make a number of very important changes affecting Federal contractors. Some of the most important changes are:

  • Changes regarding small business self-performance requirements and limitations on subcontracting pursuant to 13 C.F.R. § 125.6 (which we previously wrote about when the SBA issued its proposed rule, in December of 2014, and blogged about all the way back when the 2013 NDAA was enacted);
  • Expansion of exception to affiliation for all joint ventures where both concerns are individually “small” in connection with 13 C.F.R. § 121.103(h);
  • Clarification regarding what types of familial relationships will result in a rebuttable presumption of “identify of interest” affiliation pursuant to 13 C.F.R. § 121.103(f) (previously discussed here);
  • Addition of a rebuttable presumption of “identify of interest” affiliation pursuant to 13 C.F.R. § 121.103(f) based on 70% economic dependence between companies (previously discussed here);
  • Clarification regarding the calculation of annual receipts pursuant to 13 C.F.R. § 121.104, and, specifically, the exclusion from that calculation of inter-affiliate sales from a broader variety of affiliates;
  • Clarification regarding recertification following a merger or acquisition of a small business pursuant to 13 C.F.R. § 121.404(g)(2)(ii);
  • Changes regarding HUBZone certification pursuant to 13 C.F.R. § 126.200; and
  • Changes regarding who may file a size protest pursuant to 13 C.F.R. § 121.1001(a)

Unfortunately, the expansion of the Mentor-Protégé program – which everyone has anxiously been awaiting since the proposed rule was issued back in February, 2015 – was not addressed. In a March 4th interview, SBA’s Associate Administrator of Government indicated that the mentor-protégé final rule should be issued this summer, with a pilot program to start in the fall.

 

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Handyman Insurance

Insurance might not be the first thing someone thinks about when running a business, but it should be an important consideration.   Handyman insurance is another requirement if you are thinking about starting a handyman business.  This website provides important insurance information on Handyman Insurance Coverage and quotes.

Handyman Insurance Coverage

Handyman insurance includes several types of coverage; each one offers a specific kind of protection for your business.  

(Handyman Insurance ) Commercial Auto: Covers a business's owned, no owned, and hired autos against liability and physical damage losses. 

Handyman Workers Compensation:  If your business as a Handyman employs any staff (including part-time, trainees or sub-contractors), Employers liability insurance cover is a legal requirement.  Employers liability insurance provides protection against your legal liabilities to pay compensation in respect of injury sustained by your employees in the course of your business as a Handyman.  (Handyman Insurance) Workers Compensation: Provides coverage for an employer's responsibility in the event of a work-related injury or illness.   Employers Liability Insurance for handyman work: This type of insurance would cover payment of legal fees and damages in the event that an employee was injured or killed while doing work for you. 

Tradesman Insurance for handymen: This is a package of several different kinds of cover for handymen, making up one policy that meets all your insurance needs.

Public Liability Insurance for handyman work: This type of insurance would cover you if your business activities caused injury or death to a member of the public.

Handyman General Liability - Commercial jobs will require you to have general liability coverage of $1,000,000 to $2,000,000 prior to being hired (not to mention that you protect your assets if something goes wrong on the job).

Products liability insurance for Handymen - Products liability insurance provides protection against your legal liability, compensation costs and expenses following injury or damage by goods that you have sold, supplied, repaired, tested or delivered in connection with your business as a Handyman.  Products Liability insurance for Handymen at 1,000,000 with the option to increase to 2,000,000 up to 5,000,000 or more.  Public Liability insurance cover provides protection against your legal liability for injury to third parties and damage to their property in connection with your business as a Handyman.

Professional Indemnity Insurance for handyman work: This covers you against any mistakes you might make  including bad advice you or your staff might give  that ends up costing your clients money, and leading them to take legal action against you.

(Handyman Insurance ) Umbrella Coverage: A broader form of coverage that extends the limits of liability found in a base policy form. 

Income Protection Insurance - If the essential person should be unable to work for a period of time, this handyman insurance helps to cover the loss of business as a result of the illness or injury.  Having sufficient income protection insurance is also a worth while consideration, if you were to fall off a step ladder or hurt your back and couldnt work, accident, sickness and unemployment insurance could help you to pay for some of your monthly bills in the event of you not being able to work.

The Handyman Insurance Program gives our policyholder comprehensive coverage for their handyman businesses, and the program is designed for Handymen who: Are hired to do a variety of miscellaneous work that would be found in a residential household environment;

Please note that standard home owner's insurance will most likely not cover business assets, and may VOID your home insurance coverage.  If your business is home-based, do you need more liability coverage than your home insurance policy covers. 

The Handyman program gives our policyholder comprehensive coverage for their handyman businesses, and the program is designed for Handymen.

Handyman Insurance Quotes

Find information on insurance companies and agents, rate quotes and comparisons, insurance buying tips, claims filing information and much more. Find the best Handyman insurance quotes liability commercial and small Handyman companies offering affordable monthly payment options for your handyman business and the self-employed.  Find the best Handyman insurance quotes from some of the finest and solid insurance companies who compare liability coverages based upon your own personal choices.  Get online quotes for handyman insurance now.  And it can help you save money on your handyman insurance without compromising on the level of cover you need.  The Handyman tradesman insurance policy has been crafted to cover all your Handyman insurance needs at the most competitive price.

 

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