Liability Insurance

 

A business is liable to the very people it serves

Don’t leave your business one accident or mishap away from financial ruin. Even if you work with the utmost care, a client can perceive toy did them wrong.

General Liability

Commercial General Liability (CGL) Policies are extremely broad in nature. They insure the bodily injury liability and property damage liability exposures of a variety of commercial businesses, enterprises and ventures.

Employment Practices

Hiring and firing practices have become legal minefields that have spurred the development of Employment Practices Liability Insurance (EPLI). It is important that a business has clear policies that are applied consistently to each employee and that directly relate to their job. Do you know what type of decisions could trigger a claim? For example, is it legal to terminate:

A driver with a bad driving record?
An employee who is rude to your customers?
An employee who swears at customers?

Don’t think that the answer is simply “yes.” A business’ action may depend upon circumstances such as whether an employee’s duties involve driving a company vehicle, or directly involves customers and if the company can prove that such behavior fails to meet the applicable job standards.

One key issue is having access to legal counsel that has expertise in this special area of the law. Another key issue is documenting the essential job functions and establishing measurable standards for each position. Use of regular performance reviews and applying the standards equally to each employee is a smart employment practice. The best defense against employment practice claims is to know the law in your state and then having policies and procedures that meet or exceed its legal standards.

The U.S. Department of Labor offers a Small Business Handbook from their Website at http://www.dol.gov. The U.S. Equal Employment Opportunity Commission also offers numerous publications addressing different employment laws from their Website at http://www.eeoc.gov. Contacting us regarding Employment Practices Liability Insurance is another avenue to explore.

Policies and premiums for this type of coverage vary tremendously among insurers. Many companies offering the coverage also offer assistance in writing policy and procedure manuals and other ways to reduce the potential for claims involving sexual harassment, wrongful termination or discrimination. No business is immune from these claims.

More Business Insurance Links

AUTO

Almost every business may face a loss due to its owning, renting, using, or loading/unloading a vehicle. Most coverage needs can be handled by a business auto policy (BAP) or similar form. BAPs may cover a variety of operations, including trucking, garaging, public and private transport, and businesses with auto exposures that fall outside the other classes.

WORKERS COMPENSATION

Workers Compensation insurance policies actually provide two types of protection. One covers the cost of medical expenses and disability payments if employees are injured or exposed to illness-causing substances while on the job. The other provides businesses with liability protection in case they are sued for damages arising from employment-related accidents or diseases

PROPERTY

Commercial property policies provide coverage for buildings and personal property that are used in a business. Protecting this property must be a primary goal of any commercial insurance program. Regardless of the size of the business, tangible property usually represents a large portion of its total assets.

NONPROFIT

Whether a human services, arts, educational, civic or other type of nonprofit, your organization should be protected by liability insurance to cover defense costs and damages. Some insurers specialize in coverage for nonprofits and may be able to best meet the insurance needs of your organization.

LIABILITY

Commercial General Liability (CGL) Policies are extremely broad in nature. They insure the bodily injury liability and property damage liability exposures of a variety of commercial businesses, enterprises and ventures.

UMBRELLA LIABILITY

A Commercial Umbrella Liability Policy, increasingly referred to as an excess policy, can provide an additional layer of insurance protection to handle major losses. A business owner may consider an accident that does not involve a fatality to be one that can readily be handled by regular coverage. The reality is that such an accident may result in substantial medical care, lost income and other expenses.

BUSINESS OWNERS POLICY

If you own a small business, your insurance needs may be properly handled by a business owner policy or BOP. BOPs are similar to a homeowners policy, offering both property and liability protection. Businesses such as retailers, wholesalers, small contractors, artisan contractors, dry cleaners, restaurants, offices, and convenience stores (including those with gas pumps) are eligible for BOP coverage.

BONDS

As opposed to insurance, which is a two (2) party contract between an insurance company and the insured, a surety bond is a three (3) party agreement between a Principal, an Obligee, and a Surety.

Beyond Insurance.

Frequently people go for years without reviewing their insurance program, even though life quickly changes. By answering a few questions, you can have the peace of mind knowing that your family and possessions are protected.