People make mistakes, and in today’s business world most errors are unforgivable and land companies in court. It might seem a bit over the top to sue someone else for committing an error or omitting important information where needed, but those filing don’t see it that way. Doctors have malpractice insurance and contractors are licensed and bonded. For professionals, protection against such lawsuits comes in the form of Errors and Omissions insurance. If you offer a professional service to your customers, such as architecture, engineering or surveying, it would serve you well to add an additional layer of protection over your business with professional liability insurance in Indianapolis.
Liability coverage will shield you against negligence claims that allegedly caused the suing party financial damage by helping cover the expenses of your defense counsel among other things. Legal fees alone can be devastating to any professional firm, but smaller ones are hit harder in particular. E & O insurance will also protect your company’s assets and help to keep its reputation intact, which you’ll need to secure future business. Some projects require E & O coverage prior to signing on with the professional. If you already have professional liability insurance in Indianapolis, you’ve just opened the doors to more business opportunities for your firm while protecting it.
As a professional employer organization (PEO), you offer a needed service to your clients. When they are able to outsource workers’ comp, payroll, training and employee benefits, it takes the pressure off of their company. The pressure, however, is then put on yours. Because of the risks you face, you need a proper PEO insurance policy. The following are some ways in which a policy will benefit your company:
- Legal Fees – If you are involved in a lawsuit because a client believes you did not provide them with the services they requested, your policy can help to cover the legal fees. This could include filing fees, attorney fees and a variety of other expenses you were not originally planning on.
- Settlement Fees – No matter the type of lawsuit, it’s possible the settlement could point in favor of your client. In such a case, you will often be responsible to pay a settlement to the client. Proper insurance coverage will step in to help you make this payment.
- Repair Costs – If your property was damaged due to vandalism or fire, a policy with the right coverage will help you afford the repairs. This could be essential to keeping your business running after unforeseen circumstances.
As you can see, there are some major benefits you can experience with the right PEO insurance policy. Contact your agent to learn more about the options you have and get covered today.
When Target had its customers’ data breached, the story made headlines. Thousands of customers were at risk for having their information stolen. What didn’t make headlines was that the breach came through one of Target’s vendors. A hacker wormed its way through a smaller company to get to the larger corporation. Small businesses are at risk for having their information stolen too. That’s why Indiana cyber security insurance is so important in today’s marketplace.
Customer and employee data is very sensitive. Your business is at risk for being compromised through the internet. This could potentially devastate your organization. First, there are the financial concerns. You have to notify customers, provide them with credit monitoring and find the breach. If there are losses associated with the breach, your business could get sued. And you shouldn’t forget about the PR costs, because your reputation might be at risk too.
Indiana cyber security insurance makes sense in today’s world. It’s no longer just the criminals that break in through your front door. They come through the internet and this gives them a whole new way of stealing from you. Protect yourself with an insurance plan that gives you peace of mind. Be proactive in managing the data which has been entrusted to your business. Don’t think it can’t happen to you.
If you’re looking for liability insurance in Florida for your business for the first time or are looking for a new agency after growing displeased with the one that you have been working with, there are several skills and services that excellent agencies perform well that are worth carefully thinking about. In general, you need to find the agency that excels at getting you well-tailored, comprehensive general liability coverage, analyzes potential risks that you face and works with you to eliminate as much risk as possible, helps you create an employee benefits package so that you draw the very best talent to work with you, and has many insurance agents so that a team who specializes in your industry can work with you.
Proper commercial general liability insurance typically cover Bodily Injury & Property Damage, Contractual Liability, Completed Products, Personal and Advertising Injury and Liquor Liability if applicable. A customer or client files a Completed Products complaint if you’re harmed by a product after you finish creating it, and they file a Personal and Advertising Injury if they’re trying to hold you accountable for slander or libel. Keep all of these things in mind when looking for liability insurance in Florida, and find the agency who will keep your business protected.
Most companies become acquainted with the workers compensation insurance requirements in their state fairly quickly, since coverage is mandated from the moment a business has one or more employees. What is easier to overlook is employee liability coverage, which is just as important, and which provides for the coverage of costs for medical expenses and lost work time relating to bodily injuries and accidents that are not covered by that basic workers compensation policy.
Liability Coverage for Staffing Agencies
If your company manages the staffing needs of other businesses, then this coverage becomes integral to your operation. You need coverage that includes any work site your employees are assigned to, and that also works worldwide. That makes your needs slightly different from those of other companies, and also more vital—after all, having employees is your business.
For the best and most robust insurance coverage, find a provider who can meet your needs as a staffing provider by bundling together all your specialized and industry-specific coverage, including:
- Employee liability insurance
- Employment practices liability
- Asset protection
- Hired non-owned auto policies
When you have a partner whose offerings anticipate the needs of your business, then you know you and your employees are both protected, wherever the job happens to take them.
It’s very annoying when your own personal computer and data gets hacked. Imagine for just a minute that your business computers and data got hacked. How would you even begin to address all the affected customers and cover all the costs associated with the breach? Your business has sensitive data which if shared might cost you your reputation. Carmel cyber liability insurance is the answer.
When you purchase insurance, you not only get protection for your assets against the expense you will incur, but you get proactive help in monitoring and protecting your computers against data breaches. Even if you don’t have a full-time IT person, you can certainly implement suggestions that your insurance company makes to protect customers’ sensitive data and your own finances.
Even with all the anti-virus software, businesses are still at risk. Address the unseen dangers of hackers to your business. Don’t think that because you’re small, no one would want to get into your data. There’s too much at stake to let your sensitive customer and employee information be compromised. Check out Carmel cyber liability insurance to have the peace of mind that you’ve done everything you can to ensure that your computers and information is safe. You’ll rest better each night having a plan.
Most insurance policies are built to protect the insured from financial loss. For construction business owners, the risk of loss is high. The projects being worked on could be damaged from a storm, workers could get injured, and work may have to stop due to an unforeseen issue. With all of these risks associated with the construction industry, it is no wonder a policy, such as the builders risk policy in New Jersey, is needed to help protect from loss.
This specialized policy offers special protection for construction companies that build new structures. It may insure the following:
- Destruction to materials and structure by fire, vandalism, floods and windstorms
- Materials in transportation to work site
- Materials stored on site
- Theft of materials or equipment from the site
- Losses caused by changes in city ordinance or laws
- Losses due to delays caused by covered occurrence
Depending on the exact coverage a business gets, multiple work sites may be able to be covered under the same builder’s risk policy in New Jersey.
Work With a Professional
While some of the above protection may be available in any policy, the coverage really depends on the insurer who writes the policy. For example, there may be additional coverages available that the base policy does not cover. A business could get coverage for debris removal and other specialized duties if the insurer creates the right policy.