Why Employers’ Liability Insurance Is Crucial

employee liability

For companies with employees, employee liability is important. This type of coverage carries multiple benefits and advantages that are significant. In fact, if a business decides against investing in liability insurance, it may face harsh consequences. By purchasing liability insurance, you are showing your employees that you are committed to their welfare.

Employee Security

An employers’ liability policy provides workers with security. Employees need a safe environment to work. Not only do you need to make sure that there are as few hazards as possible in the workplace, but you need to provide insurance in case accidents happen.

Financial Protection

A fair employee liability policy allows you to guarantee the financial security of your company. If there is an accident where you may be held liable, this insurance covers the cost of compensation. This policy may also cover legal fees associated with an injury.

Legal Protection

Often, liability insurance is a legal requirement. If you don’t have liability insurance, you may suffer a fine. Even so, if you don’t have insurance and end up in the middle of a lawsuit, you may not have the funds to pay yourself.

If you own a company that has employees, then you do not want to skimp out on the liability insurance.

Stay Ahead With Dry Cleaner Insurance

fabricare dry cleaners

Fabricare dry cleaners insurance is designed to offer solutions to anyone that owns a dry cleaner, laundromat, uniform rental business or commercial launder. As one of the leading insurance sources, it is highly trusted. It doesn’t matter if you’re a small laundry shop or a commercial one; the program offers solutions to all types of dry cleaners. Here is what you can look forward to getting out of your program.

Types of Coverages

When it comes to dry cleaners insurance, you can expect to see a lot of specialized coverage. After all, running a laundry person puts you at different risks from other businesses. As far as coverages go, here is some of what you can expect:

  • Business interruption
  • General liability
  • Pollution liability
  • Commercial property
  • Equipment breakdown

Alongside these coverages, there are more to expect.

Protection for Risks

The point of Fabricare dry cleaners insurance is to remain protected. It is about keeping your business safe from emerging risks in the industry. As the industry develops, so do protections. For instance, data breaches and other expanded services may be available to some. The idea is for all businesses to have protection and coverage that works for them.

With dry cleaning insurance, you and your clients are protected against general liability and other actions.

Is Your Commercial Vehicle Insurance Enough?

hired non owned auto

Both business and individually-owned vehicles are required to maintain auto insurance when operating on the road, but for some commercial businesses, this coverage can’t protect them in instances where the vehicle in use doesn’t belong to the company itself. In these situations, having hired non owned auto coverage can be the answer to protecting from automobile loss exposures that you haven’t considered.

If you aren’t sure you need such coverage, ask the following questions.

Do clerical or administrative employees use their personal vehicles to make bank deposits while on company time?

Have your employees ever been sent to pick lunch for the office, make a run for office supplies or go to the post office?

Have employees ever been sent to pick up clients at the airport or to a client’s location for packages or materials?

Have you ever used a rented vehicle while on a business trip?

Does your sales team use their personal vehicles for business use?

If you can answer yes to any of these questions, you need to obtain a hired non owned auto policy. If your employee has an accident during any one of these scenarios, liability will rest with the business itself and you may be sued for incurred damage. Add more comprehensive protection to your existing auto policy, and avoid this stress in the future.

Genuine Home Security

high net worth home insurance broker

High value presents special challenges in a variety of arenas, and homes are one of them. A high net worth home insurance broker has the expertise and experience to provide the specialized coverage necessary for high value and luxury homes.

Special Considerations

While many elements of homeowners insurance are the same at every level, high value and luxury homes may need specialized coverage for a variety of circumstances, including:

  • replacement cost coverage that exceeds policy limits
  • generous living expense allowances during restoration/refurbishing
  • jewelry coverage
  • equipment failure coverage
  • cash settlement options

Each of these features helps to address a more comprehensive issue: the value of these homes is not always easy to assess in a straightforward way, and includes a number of fluid components.

Making a House a Home

One of the challenges for insuring these homes comes from the many ways that owners modify or customize them to meet their needs, or from the contents of the home. A homeowner with a substantial art collection needs different coverage than a homeowner who has a wine cellar full of priceless bottles, or someone with three beautifully restored antique cars in the garage.

A high net worth home insurance broker can address these and other specialized concerns. Consulting with a specialist now can give you the peace of mind that comes from knowing that all of the things that make your house your home are protected.

Santa Fe Builder

The winter months bring cheer and joy and often a lull in business. Even when there is a dip in business, your risks don’t disappear. At any point in time, a client can sue you. Don’t let a lawsuit cause your business financial hardship, maintain your Santa Fe Builder insurance policy all year long to cover your risks and liabilities.

Seasonal Risks

With winter storms comes snow and ice. Neither weather conditions are ideal for working with tools and building structures. Cold or frozen ground is hard to work with and tends to stall projects. Not to mention the holiday glow from November to December then the harsh temps of January and February. When March brings the arrival of Spring, you’re ready to get back to work.

Types of Claims

Builders and contractors may be sued for a variety of reasons. Even the most well-laid plan can have a misstep or human error. Some of the most common suits include:

  • Missed deadlines
  • Faulty work
  • Third party or worker injuries
  • Damage to equipment

Preparing for those slower months whether during the winter or economic slumps can keep your business running smoothly when the seasons change. A Santa Fe Builder insurance policy can help pay the financial costs associated with a lawsuit.

Not To Be Overlooked: E&O for Insurance Agents

e and o insurance for insurance agency

Any business that provides a service or gives advice is exposed to a certain amount of risk. A good insurance agent knows this truth more than most and works hard to provide commercial clients with quality professional liability protection.

Agent: Insure Thyself

Much like the old proverb that proclaims “physician, heal thyself,” insurance agencies must remember to protect their own financial interests too. Few professions are more open to claims of mistakes and/or omission than insurance providers. In the event of a claim, it is of paramount importance that your business carries comprehensive e and o insurance for insurance agency.

In today’s litigious climate, even a frivolous claim can be very expensive. According to industry sources, most claims against agencies arise from an alleged failure to:

  • Properly identify client’s risk exposures
  • Obtain coverage in a timely fashion
  • Provide complete and accurate information to the carrier
  • Notify client regarding policy termination
  • Communicate policy requirements and provisions
  • Submit a claim within the prescribed deadline
  • Add a loss payee or additional insured, as instructed, to an original policy
  • Match prior coverage when writing a new policy
  • Pay a claim
  • Recommend needed policy limits

Quality e and o insurance for insurance agency will provide payment of legal defense as well as any settlement award, within the policy’s prescribed limits. Many policies also include provisions that pay for loss of business revenue for time spent away from the office either at trial, hearing, mediation or deposition.

Don’t overlook this important insurance need. Contact a broker and protect your agency from potentially disastrous financial ramifications.

Professional Liability Insurance: Protect Your Law Practice

Attorney liability insurance

As with most forms of insurance, if you have malpractice or attorney liability insurance, you hope that you never have to use it. However, you still want to make sure that you are safe and protected. Claims against attorneys happen and often when they do, the costs are high. Here is what you should consider when deciding if you need insurance.

Frivolous Claims Happen

One reason that lawyers choose not to invest in malpractice insurance is that they hold themselves to a high standard and don’t believe anyone will file a suit against them. Even if they’re right and there’s never a good reason for it, it doesn’t mean that it won’t happen. Frivolous suits happen all the time. Clients make claims against lawyers where there were no mistakes. Unfortunately, you still have to pay money to fight against these claims.

Errors Can Happen

Some claims filed against attorneys are due to the errors made by clerks or some other office staff. This happens. It shouldn’t make or break your practice if it does, however. Some attorneys fear that they are inviting lawsuits by having insurance but instead you are really just protecting your practice.

Attorney liability insurance is not something that you want to skip out on having. If you own a small practice, you particularly want to make sure that you are covered.

Don’t Get Caught with a Hole in Your Trucking Liability Coverage

commercial transportation insurance

Independent truckers and small trucking companies understand the necessity of an automobile policy that provides coverage for damages and injuries caused by the operation of the truck. Indeed, it is impossible to obtain a commercial license without such insurance.

All too often, however, small trucking concerns discover the hard way that auto liability isn’t the only form of commercial transportation insurance they need. General trucking liability offers broad-based coverage that protects truckers from claims of property damage or injuries caused as a direct result of business activities not involving the actual operation of the vehicle.

Common Scenarios

Still don’t understand the need for such a policy? Here are a few of the more common scenarios that are covered only by general liability insurance:

  • Delivery of damaged cargo that results in property damage or injury after being unloaded
  • Injury to a client or third party visiting the business premises
  • Actions of a company employee in locations such as a loading depot or a truck stop
  • Negligence when hiring drivers (failure to fully vet during employment process)
  • Inadvertent use of a trademarked logo in a company ad

These are just a few of the instances that would be covered by this form of commercial transportation insurance. Coverage includes payment of property damages and medical expenses, as well as applicable legal fees and judgments.

Don’t wait to learn the hard way the value of a comprehensive insurance package. Consult an experienced agent today.

Benefits of Marina Insurance Coverage

If you run a marina, you may think that all you need is commercial general liability insurance. The truth is that this isn’t always enough. In fact, a lot of general liability insurance does not include marine work. So, if you happen to run a marina, that coverage is likely not going to be enough. Why should you get marina insurance coverage? We’ll go over a few of the basic benefits.

Worker Protection Against Lawsuits

Did you know that a lot of general liability excludes anything that happens on or near the water? This means that if an accident does happen, your workers or contractors may be liable for and unable to protect themselves against a lawsuit. With coverage, you have protection.

Risks on the Water

When it comes to marina liability insurance, there are very specific circumstances that it covers. For instance, marinas often have a lot of high valued property and may have several different contractors working at any given time. The risks on the water are also different from land. So, when it comes to breakdowns, equipment failure or even personal injury, you need coverage made for marinas.

At the end of the day, the main benefit of marina liability coverage is to protect you and the workers in your marina. No matter what type of business you own, thorough coverage is always necessary.

Securing the Future

tail insurance, cost

While most agencies recognize the value of tail insurance, cost can still be an issue. You may wonder how much insurance you need, and for how long you need it, to protect yourself from claims made about events that occurred when your Errors & Omissions policy was in force.

How Much Do You Need?

Every agency is different, and has different levels of need and risk, but the simplest rule about any insurance is to buy as much as you can afford. In terms of tail insurance, this has to do with both the size and the length of the policy.

How Does It Help?

Tail insurance is critical in situations where a claim is brought for work done some time in the past. You may have bought or sold an agency, or reduced your offerings, but you can still be held liable for the results of work you did previously. Tail coverage extends the reporting period for such claims, so that damages and legal fees can be covered even after your E & O policy has expired.

Best Practices

When you are considering tail coverage:

  • buy as much as you can afford
  • buy coverage for a minimum of 3 years
  • buy a policy that is bilateral; you can use the coverage as long as your policy did not cancel for default

Discuss your needs with a qualified insurance broker, and make sure that you have the coverage you need to protect your future.