795-395-7761

Joint Ventures


     A joint venture is an entity formed by two or more businesses in order to pursue a specific purpose for a specified period of time. While some states require joint ventures to be legally filed, other states recognize any entity that meets the definition. A partnership differs from a joint venture as the former lasts indefinitely and its purpose may change.

 

     A joint venture (or JV) can consist of sole proprietors, corporations, partnerships or any combination of these entities. Such ventures often bring together two areas of expertise to be applied to a single objective. Therefore, JVs allow the participating entities to capitalize on that combined expertise for a specified time period. JVs may also consist of entities that are, typically, rivals in the same market that may join forces for a commercial activity that they are unable to pursue alone (typically due to size, resources or expertise).

 

     Insurance policies generally do not cover a JV unless its name is shown on the policy. There is no automatic coverage for a business that begins a joint venture during a policy term. For instance, two contractors are interested in bidding on a major project. They decide that it may be beneficial to bid on the project as a single entity. In this case, the joint venture is recognized as a distinct legal entity formed for pursuing the project. Unfortunately, it’s equally common for businesses to fail to recognize that they have formed a JV. The oversight could result in the joint venture suffering a loss that isn’t covered by insurance.

 

     Consider contacting an insurance agent to discuss your possible coverage needs which may include general liability, automobile liability and, if the joint venture has employees, workers compensation insurance. It is also important to determine if the joint venture will need insurance to continue after the JV ceases to exist. While JVs can be extremely beneficial to all participants, they also have the potential for legal and operating problems that are unforeseen. JVs often involve complex contracts and non-disclosure agreements. The coverage issues are unique to each joint venture and should be carefully addressed by legal counsel and the insurance agent in cooperation with the joint venture principals.


COPYRIGHT: Insurance Publishing Plus, Inc. 2017

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.

 

Earthquake Safety

 

Earthquakes appear to be making frequent headlines around the world. Earthquakes are not like severe weather that can be tracked and anticipated. You can switch on the TV or go to a website or devoted cable network for information on where the next earthquake will strike; much less have information on the level of damage it will cause.

So what CAN you do? Well, if you happen to live in a part of the U.S. which is prone earthquakes, making your home or business as safe as possible is extremely important. You may want to investigate whether your home or business have been built in a manner that takes earth movement into consideration. Does your home have reinforced foundations; do they contain features such as properly strapped pipes and properly braced walls? Is there any existing damage to walls, supports and flooring that could make your home even more vulnerable to damage? If so, repairs should be made. It may be necessary to get expert help from an engineer to assess your situation and to suggest needed changes.

Some simpler preparations can be made. Look around your home or business. What dangers exist? Consider addressing heavy items that may easily tip over or fall during an earthquake. If they can fall; they can fall on you or a loved one. Consider properly anchoring and reinforcing how such items are attached. Avoid merely placing heavy TVs on fragile furniture; consider attaching to walls with proper mounting. If a quake does occur, get to the floor or ground, avoid areas with furniture or appliances that may tip over, try to get under sturdy, heavy furniture or objects that can shield you….and hold on!

Consider creating a disaster plan that includes having emergency supplies, evacuation plans, contacting loved ones and coordinating a way to gather together to deal with recovering from a quake. One key, immediate issue is to check your surroundings for dangers such as downed electrical wires, damaged gas lines, weakened floors and walls that may collapse. Besides getting away from such dangers, you can help yourself and others by alerting emergency personnel so these hazards can be handled.

 

Earthquakes are unpredictable and incredibly dangerous. But any safety steps and procedures that you’re able to perform is important, even life-saving! Part of your plans should also include earthquake insurance; so any catastrophe does not include lack of the ability to repair, rebuild or replace what you’ve lost.

 



COPYRIGHT: Insurance Publishing Plus, Inc. 2017

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.

Amboy - Main Office

111 S. Main St.

P.O. Box 157 Amboy, IN 46911

Main office: 765-395-7761
Toll free: 877-395-6200
Fax: 765-395-7763

Office Hours:

Mon: 8:00 AM - 5:00 PM
Tues: 8:00 AM - 5:00 PM
Wed: 8:00 AM - 5:00 PM
Thurs: 8:00 AM - 5:00 PM
Fri: 8:00 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Bunker Hill Office

132 East Broadway

P.O. Box 356 Bunker Hill, IN 46914

Main office: 765-689-8432
Toll free: 800-688-8432
Fax: 765-689-0725

Office Hours:

Mon: 8:30 AM - 5:00 PM
Tues: 8:30 AM - 5:00 PM
Wed: 8:30 AM - 5:00 PM
Thurs: 8:30 AM - 5:00 PM
Fri: 8:30 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Converse Office

105 South Jefferson Street

P.O. Box 620 Converse, IN 46919

Main office: 765-395-7811
Fax: 765-395-6216

Office Hours:

Mon: 9:00 AM - 5:00 PM
Tues: 9:00 AM - 5:00 PM
Wed: 9:00 AM - 5:00 PM
Thurs: 9:00 AM - 5:00 PM
Fri: 9:00 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Fairmount Office

210 South Main Street

P.O. Box 67 Fairmount, IN 46928

Main office: 765-948-4129
Fax: 765-948-4120

Office Hours:

Mon: 8:30 AM - 5:00 PM
Tues: 8:30 AM - 5:00 PM
Wed: 8:30 AM - 5:00 PM
Thurs: 8:30 AM - 5:00 PM
Fri: 8:30 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Flora Office

15 East Columbia Street

Flora, IN 46929

Main office: 574-967-3110
Toll free: 800-242-0466
Fax: 574-967-3569

Office Hours:

Mon: 8:30 AM - 5:00 PM
Tues: 8:30 AM - 5:00 PM
Wed: 8:30 AM - 5:00 PM
Thurs: 8:30 AM - 5:00 PM
Fri: 8:30 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Greentown Office

109 North Meridian Street

Greentown, IN 46936

Main office: 765-628-7572
Fax: 765-507-9144

Office Hours:

Mon: 9:00 AM - 5:00 PM
Tues: 9:00 AM - 5:00 PM
Wed: 9:00 AM - 5:00 PM
Thurs: 9:00 AM - 5:00 PM
Fri: 9:00 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Hartford City Office

209 West Washington Street

Hartford City, IN 47348

Main office: 765-348-1448
Fax: 765-348-1512

Office Hours:

Mon: 1:00 PM - 5:00 PM
Tues: 1:00 PM - 5:00 PM
Wed: 1:00 PM - 5:00 PM
Thurs: 1:00 PM - 5:00 PM
Fri: 1:00 PM - 5:00 PM
Sat: By Appointment
Sun: Closed

Kokomo Office

3833 South LaFountain Street

P.O. Box 6339 Kokomo, IN 46904

Main office: 765-455-2700
Fax: 765-453-5635

Office Hours:

Mon: 9:00 AM - 4:30 PM
Tues: 9:00 AM - 4:30 PM
Wed: 9:00 AM - 4:30 PM
Thurs: 9:00 AM - 4:30 PM
Fri: 9:00 AM - 4:30 PM
Sat: By Appointment
Sun: Closed

Lafayette Office

3904 Regal Valley Dr

Lafayette, IN 47909

Main office: 765-838-8244
Toll free: 877-395-6200
Fax: 765-838-8244

Office Hours:

Mon: By Appointment
Tues: By Appointment
Wed: By Appointment
Thurs: By Appointment
Fri: By Appointment
Sat: By Appointment
Sun: By Appointment

Marion Office

153 East 3rd Street

Marion, IN 46952

Main office: 765-662-2010
Toll free: 800-688-3548
Fax: 765-662-2072

Office Hours:

Mon: 9:00 AM - 5:00 PM
Tues: 9:00 AM - 5:00 PM
Wed: 9:00 AM - 5:00 PM
Thurs: 9:00 AM - 5:00 PM
Fri: 9:00 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Peru Office

26 West Main Street

Peru, IN 46970

Main office: 765-473-4519
Fax: 765-473-4510

Office Hours:

Mon: 9:00 AM - 4:30 PM
Tues: 9:00 AM - 4:30 PM
Wed: 9:00 AM - 4:30 PM
Thurs: 9:00 AM - 4:30 PM
Fri: 9:00 AM - 4:30 PM
Sat: By Appointment
Sun: Closed

Somerset Office

1 Main Street

P.O. Box 176 Somerset, IN 46984

Main office: 765-981-4944
Fax: 765-981-4116

Office Hours:

Mon: 9:00 AM - 5:00 PM
Tues: 9:00 AM - 5:00 PM
Wed: 9:00 AM - 5:00 PM
Thurs: 9:00 AM - 5:00 PM
Fri: 9:00 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Swayzee Office

106 South Washington Street

P.O. Box 130 Swayzee, IN 46986

Main office: 765-922-4449
Fax: 765-922-4449

Office Hours:

Mon: 8:30 AM - 4:30 PM
Tues: 8:30 AM - 4:30 PM
Wed: 8:30 AM - 4:30 PM
Thurs: 8:30 AM - 4:30 PM
Fri: 8:30 AM - 4:30 PM
Sat: By Appointment
Sun: Closed

Upland Office

50 East Berry Avenue

P.O. Box 537 Upland, IN 46989

Main office: 765-998-6053
Fax: 765-998-7083

Office Hours:

Mon: 8:30 AM - 4:30 PM
Tues: 8:30 AM - 4:30 PM
Wed: 8:30 AM - 4:30 PM
Thurs: 8:30 AM - 4:30 PM
Fri: 8:30 AM - 4:30 PM
Sat: By Appointment
Sun: Closed

Walton Office

112 North Depot Street

Walton, IN 46994

Main office: 574-626-2621
Fax: 574-626-2609

Office Hours:

Mon: 8:30 AM - 4:30 PM
Tues: 8:30 AM - 4:30 PM
Wed: 8:30 AM - 4:30 PM
Thurs: 8:30 AM - 4:30 PM
Fri: 8:30 AM - 4:30 PM
Sat: By Appointment
Sun: Closed

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