Join our Waitlist for Expert Advice!

Has Your Insurer 'Purged' Your Company?

By Carol Tice Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Ever felt like your small business lost its insurance coverage for no good reason? Apparently, you're not alone.

In case you're not addicted to C-SPAN, Both houses of our federal legislature are investigating whether major insurance companies deliberately cancel coverage -- a practice known as 'purging' -- or jack up premiums for small businesses after they file large claims from a sick employee or two. Rep. Henry Waxman and Rep. John D. (Jay) Rockefeller IV are among the lawmakers who have sent letters to top insurers, seeking to learn how cancellation decisions are made. The Senate Commerce Committee has also recently held hearings on the topic.

While the debate about healthcare reform rages on, with uncertain outcome, this probe may at least bring reform in how insurers decide whether small business policies can be renewed, and what small businesses can be charged.

If you think you may have seen unfair rate hikes or cancellation, now's the time to let your legislators know about it. Like they say, be the change you want to see.

Carol Tice

Owner of Make a Living Writing

Longtime Seattle business writer Carol Tice has written for Entrepreneur, Forbes, Delta Sky and many more. She writes the award-winning Make a Living Writing blog. Her new ebook for Oberlo is Crowdfunding for Entrepreneurs.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

You Have One Month Left to Buy a House, According to Barbara Corcoran. Here's Why.

"If you are planning on waiting a year and seeing where interest rates go, you are out of your mind," Corcoran said.

Business News

These 3 Side Hustles Make the Most Money While Working Fewer Hours, According to a New Survey

The survey also found that having a side hustle doubled as a path to becoming more employable.

Franchise

The McRib Is Back, But Only at Select McDonald's — Here's Where to Find It

This scarcity is nothing new. In 2022, McDonald's announced a "Farewell Tour" for the McRib, suggesting that it might be the last time customers could get their hands on it.

Business News

This New Restaurant Is Banking on One Dish — Because It's the Only Entrée on the Menu

The new hotspot is gaining buzz on social media for its innovative yet super simple concept.

Side Hustle

I Made $14,000 in 1 Week With a Spontaneous Halloween Costume Side Hustle — Here's How

Sabba Keynejad was in art school when he started to refine his entrepreneurial skills.

Business News

This Is the Goal-Setting Method Shohei Ohtani Learned in High School That Helped Get Him to the World Series

The MLB superstar's success did not come as a surprise to him. He had a plan.