Companies Depend on Directors and Officers Liability Insurance For Protection

When companies commit wrongful acts, they encounter consequences in the form of legal claims. In some situations, company directors and officers are held directly responsible and required to pay significant financial damages. In such cases, directors and officers liability insurance functions as a valuable source of protection.

Who Needs D&O Liability Insurance

Some may think that this type of insurance is only for large corporations, but in reality, companies of all kinds depend on this sort of coverage. Directors and officers work in a high-risk environment. If relationships with clients, employees, or stockholders turn sour, then these professionals may find themselves facing an expensive lawsuit. Liability insurance prevents directors and officers from bearing such a weighty financial burden on their own.

Reasons Behind Legal Claims

Directors and officers are sued for a variety of reasons, including the misuse of company funds, failure to comply with workplace laws, and fraud. Claims over employment practices are by far the most common reasoning behind a lawsuit, and this occurs frequently in both private and public businesses. With claims arising for any number of reasons, directors and officers cannot afford to go without financial protection.

Directors and officers liability insurance extends protection in a wide range of scenarios. Companies should acquire a policy if they have not done so already. Liability insurance provides an unmatched level of financial security.

3 Reasons You Need to Get in Touch With a Commercial Insurance Agency

Owning your own business is exciting. You are your own boss! Along with all the excitement comes a lot of responsibility. Take some of the worry away by making sure you have all of the insurance you need. Find a commercial insurance agency, so you can:

  1. Realize All Your Liability Risks – Whether you’re just starting out in the entrepreneurial world, or if you’ve been at it for some time, you may not realize everything you’re liable for. By talking with an insurance agent, you can discover what exactly your risks are, and that you’re financially liable for everything concerning your business.
  2. Address All Your Liability Risks – Once you realize what the risks are, you may start to worry. This is the part where you and the agent will go about addressing the risks. This means that the insurance provider will go over all of the coverages they offer, and help you find the ones that you need. You can get covered for errors and omissions, cyber liability or both.
  3. Stop Worrying About All of Your Liability Risks – Once you have all of the coverages that you need, you can stop worrying and start enjoying your business again. After you have all of the necessary policies, you don’t have to worry about all of the little things because you’re covered. Your money can stay where you need it because the commercial insurance agency has your back.

You need to get in touch with an insurance company, so you can get covered for anything life can throw at you. It’s hard enough work balancing the books. You shouldn’t have to worry about paying for every little hiccup that comes to your business too.

Construction Management Firms Need Errors and Omissions Insurance

The roles that construction management firms have taken on over the past years have increased their liability. Oftentimes a company is responsible for hiring the engineer, the architect, and all sub-contractors, which makes the firm liable if someone does not meet the levels of standard care. In order to decrease construction management risk, these firms need to have a minimum amount of liability insurance.

Eligible Business Classes

Although construction firms in general should definitely have the appropriate E & O coverage, there are other aspects of the industry that may want to research and decide if having extra protection is a smart move. The qualified categories include:

Benefits of a Professional Liability Program

In order to protect against construction management risk, there are programs tailored to the industry. Policy limits may cover up to $2M for principal coverage, although you can purchase excess coverage to cover a higher limit.

Coverage will vary depending on each specific project. Because each project may produce its own unique issues and risks, there can be tailored descriptions of protection for each one. Many insurers will offer coverage for projects located throughout the United States and Canada, and in the event there is a claim, it is easy to fill out an application form.

The Benefits of Medicare Insurance

Many people often delay getting Medicare coverage because they are intimidated by the seemingly complicated healthcare system. Others still don’t even know that they are eligible for Medicare. There is no reason why eligible people should go without coverage any longer. Investing in insurance can be one of the most beneficial actions you can take for your health. Working with the right Medicare insurance agency in Lincoln will leave you better off than before.

A good insurance company will be able to answer all of your questions, including how the Affordable Care Act affects Medicare programs. You’ll also be able to read about the several different options you have when choosing a Medicare plan. It’s helpful to know that Medicare is available for seniors who are 65 years old or older, as well as for adults with specific disabilities and medical conditions. Medicare can cover hospital stays, hospice care, prescription drugs, and many other services. Your health and your life in general when you sign up for health insurance that’s right for you.

Keep a lookout for a Medicare insurance agency in Lincoln that has your best interest in mind. They should have helpful information regarding their plans and will be able to provide you with answers to questions you have. Don’t let yourself remain vulnerable any longer and get the benefits you deserve.

Why You Can’t Do Without Condo Insurance

Purchasing or renting a condo is a big responsibility that you should not take lightly. Although you pay association fees, many calamities that can befall your condo may not be covered by the association. Before you take chances and assume that it is safe for you to move in, purchase some Florida condo insurance first.

Renovations

Whether you like your condo as is or plan to make some renovations in the future, there is a good chance that you association policy doesn’t provide much coverage for renovations. Even if you are not sure what you plans are regarding your condo, it is a good idea for you to add renovation coverage to keep you from incurring any losses should you decide to make any repairs or renovations in the future.

Liability

It is never fun when someone is injured on your property. Although your place is as safe as can be, accidents can and will happen. When they do, the last thing you want to be is financially responsible out of your own pocket. Condo insurance provides liability insurance to cover any accidents that happen on your property.

Knowing what to add to your policy can be a challenge. Therefore, it is a good idea for you to speak with a Florida condo insurance agent. They can put together comprehensive policy that offers you all of the protection you need for an affordable price.

Understand the Need for Business Insurance

Your Atlanta business insurance protects you against many types of damages. From accidents and injuries to a cyberbreach, it’s important to carry the insurance that meets your needs. If you’ve never been sued or faced litigation, you may wonder why you continue to need your insurance. Don’t cancel it without considering the consequences if you are sued.

According to the Bureau of Labor Statistics, in 2013, there were 3,007,300 nonfatal injuries and illnesses in the private industry. This accounts for employees, not clients and customers. Unfortunately, there were an additional 4,405 work-related fatal injuries during 2013, 397 of which were homicides, and 700 of these were related to falls, slips, or trips. You wouldn’t want to be caught without insurance if one of your employees were one of these statistics.

A simple search of litigation brought by customers who were injured and later sued the company is staggering. Even if your business is not found to be negligent, you have still had to put a great deal of time and resources towards your defense. You do not want to be in that position.

If you are stressed over the cost of your insurance, talk to your Atlanta business insurance representative to find solutions. The insurance company has risk management strategies and other options that will assist you in finding the right products to meet your budget and needs.

Protect Your Masonry Business with Insurance

As a mason, you want to protect your art. As a business owner, you need to protect your business. Look for masonry insurance in Champaign, IL that offers you a plan to combat the risks you face in both your art and business. Make sure that your company is financially protected now and in the future for your family.

What are the components of your insurance portfolio? Most businesses have general liability, workers compensation insurance, and auto insurance. If you work with contractors on different projects, you should discuss artisan professional liability insurance. This protects you in case there is a problem on a project and the client names you in a lawsuit. Many times, everyone on the job is named when someone files a complaint. Your particular involvement may not be the problem, but you will still have to provide a defense at your own cost.

Ask for an annual review of your masonry insurance in Champaign, IL from your representative. Be sure to discuss every aspect of your business, so that your agent can offer the protection your company needs. Ask for resources to help you manage your risks so that you don’t need to make a claim on your insurance. When you build a partnership with your insurance company, you have another person who works with you to keep your business successful and profitable.

Benefits of Professional Liability Insurance for the Real Estate Industry

A real estate professional liability insurance policy provides coverage for protection and expenses that an insured is legally bound to pay. The damages arise from a settled claim involving a careless act that the insured commits or allegedly commits.

Reliable and Robust Features

A negligent act is the equivalent of an actual or implied violation of responsibility, failure, action, error or omission that an agent commits which performing professional services. These services include all normal and usual actions and advice that an agent provides, such as:

  • Preparation, transmittal and awarding of design and construction bid packages
  • Management, coordination and supervision of design, sales and purchase
  • Identifying and obtaining of applicable permits, modifications, approvals and easements
  • Real estate agent, notary public, title agent and property manager services

Equipping you with the right tools enables you to be successful and protected from unforeseen damages. A real estate professional liability insurance program offers errors and omissions coverage for professionals and is customizable to include endorsements of the base claims policy.

Risk Management Services

Comprehensive real estate professional liability insurance coverage manages allegations filed by clients emerging from personal injury, negligent acts and errors or omissions resulting from the provision of licensed duties. A dedicated team of experts that maintains a disciplined approach to business can provide superior serve and coverage options that are specifically tailored to meet the evolving needs of your business.

Cargo Insurance Protects Your Business

Port Miami is one of the largest container ports in the nation. In 2013, it handled almost four million tons of cargo coming into the port, and a little over four million tons going out. It docked 1,348 cargo ships. With so many shipments being handled every day, your cargo has the potential to get misdirected, lost, or infested with pests. If you deal in food, it can spoil with an unforeseen delay of delivery. Pirates and customs holdup can also threaten the receipt of your cargo. Cargo insurance in Florida is the solution to keep your business from losing money on valuable shipments.

When purchasing cargo insurance, it insures your freight from beginning to the end of its journey. Your insurance also offers you more resources to make sure your delivery is not delayed. Think of your insurance agency as another shipping partner that helps you mitigate your loss. If you’re trying to find better methods to expedite your shipping experience, work with the people who know how to manage your account and shipping documentation.

Cargo insurance in Florida provides peace of mind when you have a large amount of money tied up in inventory that is traveling a long distance. Ask your insurance company about the insurance your business needs to protect its assets and future. Don’t risk everything you’ve worked so hard for by not having adequate coverage.

Tips You Can Use for Insurance Shopping

Whether you are shopping for insurance in VA for personal or business use, the strength of your policy ultimately relies on the reputation and longevity of the insurance company you choose. Since there are so many companies out there for you to choose from, you may be wondering how to weed out the best from the rest. Here are two tips you can use to ensure that you purchase a policy from the best insurer possible.

Know What You Want

You do not need to be able to understand all of the terms and language inside of a policy in order to get the best policy for your needs. As long as you have a good idea of what it is you need, then a good agent can put together a policy that offers you all of the protection you seek. While you are discussing your needs with an agent, try to keep an open mind as they may offer you additional protection that you may not have been aware of.

Have a Budget

Although you may have a specific price point in mind, you need to be a bit flexible. Depending on the amount of coverage you are interested in, your premium may be slightly higher than you originally anticipated. Ask for discounts, and double check your policy and prices.

After you have compared different insurance in VA policies, you may be surprised to find that a more comprehensive policy often costs just a few pennies more than one that doesn’t offer as much coverage.