What Is the Safe Banking Act?

Safe Banking Act

When the new COVID-19 relief bill passed in May, small business owners in the U.S. had a lot to be happy about. For growers and distributors of legal marijuana, the news was especially good. This is because the bill contained legislation called the Safe Banking Act that specifically benefited the cannabis industry and those wanting to do business with it.

Changes to Banking

Previously, cannabis companies had to deal mainly with cash, due to the illegal status of the industry in the eyes of the federal government. Thanks to the Safe Banking Act, federal law now allows banks to accept money from the sale of marijuana in states where it is legal to do so. Because financial institutions now can do business with these companies without fear of penalty, cannabis entrepreneurs can take advantage of banking services for the first time.

Changes to Insurance

Due to both the high value and risk associated with the product, having a comprehensive insurance policy is crucial for anyone in the marijuana industry. Previous to the Safe Banking Act, however, relatively few insurers were legally allowed to offer coverage, so consumer choices were few. Under the new law, cannabis growers and distributors will enjoy both wider availability and the lower premiums that will come with competition.

Tanker Trucks

Adding a tanker truck to your fleet is an investment that can open up different opportunities and introduce new revenue streams. However, insurance coverage for these rigs is similar to other trucks in many aspects but quite different in others.

Fuel and Hazardous Cargo

Transporting flammable or other hazardous materials present an escalated risk compared to hauling other cargo. If a truck carrying dry goods is involved in an accident it may require some cleanup but typically doesn’t cause extraordinary damage. If a tanker is ruptured then the result can be an environmental issue or significant damage to the highway and surrounding property. It is for these reasons that laws often mandate that fuel tanker truck coverage amounts be significantly higher than for standard rigs.

Injury Liability

Property damage isn’t the only thing you can be held liable for in the event of an accident. Imagine that the wreck and resulting fire cause injury or harm to others involved. Bodily injury liability helps insure you against the cost of medical bills and expenses due to this situation.

Owning a tanker truck requires an understanding of the risk involved and the insurance policy needed to mitigate that. Talking to an insurance professional will help clarify the requirements and ensure you get the best rates.

website optimization

Today’s consumers turn straight to the internet for leads and advice on where to shop and what products to buy. This includes things like looking for a new doctor or insurance agent. If you want to make sure your agency gets placed near the front of a search engine query, SEO is impossible to ignore. Here are three key pillars to search engine strategies for agencies that want to improve their rankings.

Technical SEO

With this aspect, you are ensuring that your content and site can be easily recognized and explored by a search engine. Most content management systems will handle this function for you. Things it will take into account are ease of mobile access and adaption, page loading times, and index and return features.

On-site SEO Optimization

All of the pages of your website and the overall site as a whole should be optimized for SEO needs. Make sure your URLs are simple but descriptive and use keyword research that understands and reflects your target users.


What you say is more important than how you say it. Your content is going to tell prospective clients what you do, how and where you do it, and why they should let you do it for you. Incorporate elements of service, credibility, and marketing.

If you are sure of how to create an optimized internet presentation for your agency, you may find it is easier and more efficient to have a third party take care of this for you.


Road construction is necessary for the continued safety of drivers and the protection of their vehicles. Unfortunately, road construction can also be the source of damage to vehicles. Punctured tires, cracked windshields and chipped paint are all common occurrences from debris flying or littering the road.

The experts at SB One Insurance tell that when damage does occur, the Standard of Care law will help determine who is at fault. This law weighs the degree of attentiveness expected of the construction company to ensure damages do not occur to passing vehicles. Unfortunately, you’ll have to go to court to let a judge make that determination.

Take these steps if your vehicle is damaged by construction:

  • Pull over in a safe area and take pictures of the damage.
  • Write down or record what happened and the exact location while it is still fresh in your mind. 
  • Call the county sheriff to report the damage. The sheriff’s office will know which company was working in that area and can facilitate you making contact with them. 

Many times, the construction company has insurance that protects against these types of situations. They should be willing to work with you without the need for the courts intervening. Remember, always drive slowly through construction sites and stay aware of any potential hazards.

Boat Insurance

If you’re thinking about investing in a pleasure craft of any size, you’ve got a lot of options out there. The first thing to do when trying to figure out what you’re going to get is to figure out where your budget is at. The second thing? Look at the big picture for your costs, including the possible maintenance and repair costs you’ll face. A lot of the time, a used boat can look inexpensive on paper only to have a lot of hidden costs. Buy near the top of your budget and you could be sidelined soon after the purchase by repair costs that take you a season or even two to save up and cover. There’s also the issue of insurance, storage, and upkeep even when all the parts are working just fine.

Is a New Boat Less Expensive?

There’s a lot that depends on the individual situation. Certainly, there are some instances where new vessels cost less than used ones overall, and cases where the reverse is true. What’s more important is what the purchase gets you. New boats often have warranty coverage and safety features that you can’t get with an older one. When you buy new boat insurance, those features and that warranty against mechanical failure can help you get better rates. They also help you buy closer to the top of your budget without worrying about unexpected costs if there’s an accident or a breakdown.


Everyone in the marketing world knows online is where it’s at. Your insurance brokerage has a website, at least two social media accounts and an SEO strategy that not only earns you visitors but conversions as well. If you agreed with that statement, good for you. If you’re not quite there yet, here are 3 tips to get you going.

1. Your Website

Your website is your online storefront. It provides information about the services your company offers and tells your visitors why your company is best. Your website is not an area of your marketing budget you want to cut back on. Hire an expert and glam it up. The more professional your site looks, the more professional your brokerage looks.

2. Social Media

Who’s posting to your social media? Is it Fred from maintenance? Unless Fred also has a marketing degree, he better not be. Assign this task to someone with a lot of energy who knows how to motivate people. Post regularly. Your social media should create your own online community, as reported on www.agencytsunami.com.

3. SEO Strategy

All your content needs to be loaded with relevant keywords. Include your location, your specialty, your industry and more. Once your visitor has arrived at your landing page, provide them with a call-to-action. Your efforts will be rewarded.

Truck Insurance

The tax deadline for 2020 may have been pushed to July 15, but that doesn’t mean you shouldn’t start thinking about which deductions you’re eligible for. As a truck driver who owns and operates your own 18-wheeler, you are eligible for a wide range of deductions this tax season.

Deductions for Property Depreciation

All that time spent logging miles probably took a toll on your rig in the past year. As property loses its value, you gain tax benefits. You can deduct depreciable property like your truck itself, maintenance equipment, and computers.

Per Diem Deductions

If you’re an over-the-road driver, you spend a lot of time away from home. The per diem tax deduction allows you to deduct a fixed daily amount without having to save your receipts. Per diems cover your meals and other incidentals when you are away from home overnight.

Truck Lease

If you don’t own your truck outright yet and make lease payments, you can deduct 100 percent of them on your 2020 tax form. However, any security deposits you paid are not deductible. These are some of the best tax deductions for owner operator truck drivers, but there are many more you could benefit from. An article by Western Truck Insurance Services outlines deductible expenses. Referencing it when you’re filing your taxes will help you get the most for your money.

insurance policies

On the surface, a surety bond sounds like it protects you from many of the same issues as business insurance, especially when the policy is built for contractors. There are key differences between them though, and the best risk management plan is almost never just one or the other. It’s important to remember that, and a close comparison of the surety bond vs insurance policy protections like the one at Moody Insurance Worldwide can really help you navigate your options. The short version is that the bond will cover you if anyone experiences injury or loss due to a violation of the state’s laws and regulations governing contractor behavior, up to its value. By contrast, your insurance is typically there to protect you from liability outside that narrow category, and also to protect your operation and equipment, including any supplies you have on-site.

Finding the Right Insurance

If you’re a contractor looking for insurance that is built around your operation’s needs, size, and current projects, it helps to work with someone who also provides the surety bonds you’ll need whenever you’re taking on a project. The right insurer will be able to look at your bond coverage, including any additional payment or bid bonds you need, and build your liability and equipment insurance to cover any foreseeable risks that you can’t count on the bond to manage. That kind of help is priceless because it keeps you from over or under-insuring your operation.

Investment Bankers

In the challenging world of investment banking, there are a few key skills and important habits that every investment banker should learn. Strategic and analytical thinking combined with good communication skills is the foundation for developing and maintaining positive relationships with clients as well as colleagues.

Excellent Interpersonal Skills

In order to chart a successful course, it’s extremely helpful for investment bankers to be able to engage with their clients on a personal level. Source: www.fgib.com/. They need to be sociable and engaging with their clients, and they need to apply advanced communication skills. As difficult as it may be to explain difficult concepts to clients, it can sometimes be even more challenging to practice good listening skills. Investment bankers need to thoroughly understand their clients’ concerns and ideas in order to address them effectively.

Confidence and Adaptability

Successful investment bankers have to roll with the punches when a plan doesn’t go as expected, and they also need to be able to adapt to whatever conditions that the market presents. This is more important now than ever. Smart investment bankers know that trying to impose their will on the market is futile. Instead, it’s imperative to adapt to rising volatility and to explain strategic changes to clients in a way that they can readily understand.

agency tsunami

Who can deny that the world has seen some serious change since the New Year? As we try and move forward, proceeding with a new normal, there is much uncertainty about what to expect in the future. However, this doesn’t need to mean a death sentence for your insurance company. Everyone is in the same boat, so how can you bulk up your advertising techniques during the crisis?

Update Your Website

Insurance websites right now are flooded with concerned Americans looking for new insurance, asking questions about existing plans and learning what is and is not covered. In the wake of all of the madness, think of ways that your website can serve as a point of reference to guide your users in the right direction. Have no idea where to start? Check out agencytsunami.com/ for some good advice.

  • Instead of being inundated with redundant questions, create a new FAQ section. This can quickly help to answer questions from patrons without needing to contact you first.
  • Provide helpful links, both internally and externally. This means guiding customers to specific pages like your prices and plans, but you can also link them to places like the CDC and IRS webpages.
  • If you provide 24-hour service via telephone or website, make sure that everyone knows! Provide contact information and heavily emphasize your hours of operation.

No matter what’s going on in the world, let your company stay constant. Update your website to let the public know how you’re handling it and more importantly, how you can help.

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