Tags: Liability Insurance

Protect Your Business with Employment Practices Liability Insurance

Protect Your Business with Employment Practices Liability Insurance

According to a recent study, more than half of all claims filed for employment-related liabilities are against employers with fewer than 50 employees. Alarmingly, the study also reveals that not even 2 percent of small businesses have employment practices liability insurance (EPLI) coverage. Employment Claims Can Be Costly Employment-related claims can be extremely costly, especially in cases that drag on for years. With a slow economy and increasing adoption of worker-friendly laws, these cases are on the rise—in fact, discrimination claims have increased significantly in the last 20 years. According... Read More

How to Prepare for Your Cyber Liability Insurance Policy

How to Prepare for Your Cyber Liability Insurance Policy

Do you have cyber liability insurance for your business? If you use computers and mobile devices in your business, especially if you store critical company information or personal identifying information or financial information about clients and employees, you need cyber liability coverage. Every insurance policy starts with an application, and cyber liability insurance is no different. While the underwriting process in long-established insurance lines is streamlined, this is not the case for cyber liability insurance. Currently, application forms for cyber insurance are not standard and can be complex—often consisting of... Read More

Commercial General Liability: Do You Have This Essential Insurance Coverage?

Commercial General Liability Do You Have This Essential Insurance Coverage

What would you do if a customer or vendor is injured while at your business? What would you do if a customer is injured by one of your products? How would you handle the medical bills or legal expenses? Commercial General Liability insurance is the coverage your business needs to protect you from these and other possible hazards of being a business owner. This insurance protects your business from damages caused by bodily injury or property damage for which your business is found to be legally liable.   What Does... Read More

What You Need to Know About Professional Liability Insurance

What You Need to Know About Professional Liability Insurance

Professional Liability Insurance, also known as professional indemnity, malpractice, or errors and omissions insurance, is an essential but often overlooked insurance coverage for professionals in many fields. Professional liability insurance covers liability for damages arising out of professional services, whether from the performance of such services—or a lack of proper performance. This insurance covers you and your business from claims not covered by commercial general liability coverage. Professional liability insurance protects professional personnel against negligence claims made by their patients or clients. Professionals who should consider this type of liability... Read More

Do You Know What You Need to Know About Liability Insurance?

Do You Know What You Need to Know About Liability Insurance

Liability insurance is a must for every business. Liability insurance protects your business from loss should you be liable for damage or injury. However, a single liability insurance policy may not cover every possible type of liability. The basic liability insurance policy that every business needs to have is called Commercial General Liability Insurance. Commercial General Liability insurance protects your business from financial loss if you are found liable for property damage, or injury caused by your services, your business operations or your employees. It also covers non-professional negligent acts... Read More

Do You Know the Risks of Using Drones for Business?

Do You Know the Risks of Using Drones for Business

While the military and hobbyists have been using unmanned aerial systems (UAS), better known as drones, for some time, businesses are now finding a myriad of uses for them. Drones are creating new opportunities—and new risks—for businesses, and regulators and insurance carriers are  working hard to keep abreast. Are you using drones in your business? Have you made yourself aware of the risks of using drones for business and addressed those risks with your insurance broker? Here are some of the things you need to know. Regulation The FAA considers... Read More

Umbrella Insurance Brings Peace of Mind for Your Business

roper umbrella

We live and do business today in a litigious society. You may think your biggest business worries are making profits and keeping great employees. Consider the possibility, however, that a customer is injured by one of your products. What could happen? A devastating lawsuit with exponential damages and a ruined reputation. While it’s difficult to protect against a ruined reputation, commercial umbrella insurance purchased in addition to your standard commercial general liability (CGL) policies can help protect you from the expenses of a lawsuit. Most CGL policies have an aggregate or... Read More

Do I Need E&O Insurance?

Do I Need E&O Insurance? Errors & Omissions

We have some good news and some bad news. The bad news: Lawsuits, once a measure of last resort, are now commonplace in settling disputes. The good news? You can protect yourself, and your business and reputation, by investing in professional liability coverage, also known as Errors and Omissions (E&O) insurance. E&O insurance is supplementary liability insurance that enhances any business owner’s policy by safeguarding against catastrophic loss in the event of a lawsuit due to a negligent act, error or omission by the professional.  In addition to claims of... Read More