Does Your Business Need Public Liability Insurance?

If your business has contact with the public, you face various possible risks related to your services, like slip and fall incidents or accidental property damages. Public liability insurance covers the legal costs and settlements connected with lawsuits filed against your company.

Do You Need Public Liability Coverage?

Your specific needs depend on many factors. The type of services you provide, your interactions with people and your location are all factors that determine your unique requirements. This type of liability policy is more affordable than other professional insurance but has fewer protections.

Federal law does not require companies to obtain public liability plans. Still, this type of coverage shields owners from financial losses stemming from property damage or bodily injury claims on the company’s premises. Some industries that may benefit from public liability insurance include:

  • Health care operations
  • Nonprofit organizations
  • Retail businesses
  • Hospitality industry
  • Real Estate companies
  • Entertainment ventures

What Does a Public Liability Policy Cover?

This type of plan protects business owners who operate companies that work with the general populace. If someone sues your organization, this coverage pays for your legal fees, compensation amounts and settlement expenses. It covers suits resulting from the following type of third-party events that happen at your place of business:

  • Personal injury claims
  • Transportation costs to a health care facility
  • Medical treatment
  • Property damage

Unfortunately, accidents happen and could result in lawsuits filed against your business. Public liability insurance protects your company from possible monetary losses when cases arise.

4 Things To Look for in Staffing Agency Insurance Companies

Insurance companies that specialize in one industry have many obvious advantages over those that generalize. Staffing agency insurance companies are not all the same, however, so be sure the one you choose meets the following criteria.

1. Partners With the American Staffing Association

The ASA has represented staffing agencies since 1966. Any insurance company not recognized by them may not be reputable by industry standards.

2. Provides Third-Party Coverage

Third-party coverage ensures that you will not be held financially responsible for accidents that injure someone else. This is an extremely important aspect of staffing agency insurance.

3. Covers All Aspects of Staffing Agency Services

Staffing agencies provide several services to the companies they work with, and each additional job duty brings added risk. For example, not only do they recruit and place employees, but they may also provide training.

4. Responds to Claims Around the Clock

An accident may occur during the weekend, and you cannot wait until Monday to report it. Be sure your insurance company has a number you can call 24 hours per day.

Just because a company specializes in staffing agencies does not mean they are the best at what they do. Looking for the four things above will help you make a good choice.

Weighing Out the Advantages of a Protected Cell Captive Program

Making the right decisions when picking out an insurance plan can make a world of difference to how protected you feel at any given time. Though it might seem as if you have a comprehensive plan in place, there are several areas where your current coverage might not be meeting the unique circumstances of your company. Understanding the basics of protected cells and the advantages of the program can help you understand all the options in front of you.

The Basics of PCC Programs

Basically, a cell captive program is an alternative to the traditional structure of standard commercial insurance. Available as both a single-captive model or a group arrangement, opting for a cell program can be a huge benefit for your organization. Not only are the ongoing costs of maintaining your insurance reduced, but you can also see better results when it comes to taking control of your coverage. Every cell in the program has its own liabilities and statutes, meaning you don’t need to worry about outside interference. Advantages to this program can include:

  • Avoid challenges of insurance market cycles
  • Access to reinsurance markets
  • Reduction of major costs

Consider All Angles

Before you jump at the opportunity to enter a PCC program, be sure to weigh out all of the advantages and drawbacks. Staying on top of the information can provide you with the insight you need to make a sensible choice.

The Ins and Outs of Law Enforcement Insurance

Police officers and many others working in law enforcement face constant threats to their safety.  In addition to this, they are under more scrutiny than ever before and constantly face allegations pertaining to wrongdoing.  They are often on the receiving end of claims of negligence, unlawful arrest, civil rights violations, and failure to protect.  These claims can be extremely costly for everyone involved.  Luckily, you can obtain law enforcement insurance to help pick up the fees.

Why Do You Need Law Enforcement Insurance?

There are many examples of costly claims being made on law enforcement agencies.  One example is the settlement agreement that was made with the family of Dontre Hamilton in Milwaukee.  Dontre was killed by a police officer in 2014 and his family filed a civil rights lawsuit against the Milwaukee Police Department.  This resulted in the department having to pay out a $2.3 million settlement.  Law enforcement insurance would typically be able to cover those legal fees.

Who Can Obtain Law Enforcement Insurance?

Law enforcement insurance is available for many different individuals working in law enforcement.  Some of these include:

  • Police departments
  • Sheriff’s departments
  • Prisons
  • Security companies
  • College/university police departments
  • Airport authorities

Working in law enforcement can be a risky business.  Protect yourself and your livelihood by investing in law enforcement insurance today!

An Affordable Alternative to Yearly Workers’ Comp Premiums

Companies looking to save money on the costs of offering certain employee benefits have different options when it comes to healthcare and insurance. Some of the benefits offered to employees are required by federal and state law, such as healthcare and workers compensation coverage. Companies can pay a steep price to be in compliance, so any cost-cutting measures are often a welcome solution.

Reducing the Cost of Premiums

Companies will often purchase workers’ compensation insurance to meet the liabilities associated with employees who suffer from injuries or illnesses while on the job. There are many factors that determine the cost of these policies, such as the size of the company, prior claims of injuries, and the general risks of the industry. One way to meet required obligations and still reduce the burden of expense on a company is through pay as you go workers comp insurance.

This is a highly preferred alternative for small businesses with tend to have low injury risks. Rather than pay a premium based on the projected payroll for the coming year, companies are able to pay throughout the year (according to their weekly or monthly payroll) rather than wondering if they will be receiving a refund or owing extra at the end of the business year.

This pay as you go plan is a more consistent and reliable way to address workers’ comp expenses. A company can manage its budget better and avoid large, lump-sum back payments at the end of the year to the insurer.

What Insurance Do Volunteer Groups Need?

Nonprofit companies and volunteer organizations operate differently than traditional businesses and have specific risk management needs. To find the right insurance for voluntary groups, consult an agency with expertise in this area.

Public Liability

This type of insurance covers costs if someone sustains an injury resulting from a volunteer’s actions. It is vital to make sure the policy you choose for your company includes volunteers. These policies typically cover the following third-party claims stemming from accidents or negligence:

  • illness
  • loss
  • injury
  • death
  • property damage

Coverage varies, so carefully read your policy to ensure you have adequate protections in place.

Employers’ Liability

Often the law requires this kind of insurance for voluntary groups. It provides coverage to help pay the costs associated with volunteers who become ill or injured while performing duties for your company.

Directors and Officers Liability

A D&O policy offers protection for the people who run your team, mitigating attorney costs associated with the defense of claims stemming from events, such as:

  • An officer fails to fulfill legal obligations or execute professional duties.
  • A manager does not comply with industry regulations or standards.
  • A board member receives accusations of funds misuse or bad investment decisions.

You can often add coverage offering protection for discrimination claims in hiring, promotion or termination practices.

Mistakes and accidents occur within every organization. Ensure your operation has sufficient coverage in place by obtaining the necessary insurance for voluntary groups.

The Story Behind Errors and Omissions Liability

At some point in your business operations, you may have a disagreement with a business partner or a client over the results of a decision or a perceived mistake. This situation could lead to claims of negligence in practice, sometimes ending in a lawsuit dealing with errors and omissions. The nature of the claims and concerns will vary by industry and scenario.

The Legal Ground for Error and Omission Claims

There is a range of E&O claims that can be filed against you or your company, but the legal grounds for proof remain the same. To have a valid case, the party must establish that the work did not meet reasonable expectations or contractual obligations according to industry standards. It must also be shown that damages occurred and that any damages were a direct result of the work your company did or didn`t do.

The Situations That Lead To E&O Claims

You don`t have to make a big mistake for a claim to be made against you or the company. Situations involving poor communication where a consumer draws their own conclusion may lead to feelings of neglect or misinformation. Clerical errors or processing paperwork late can also lead to situations of confusion where the client wants retribution for their hassle or frustration.

The financial liabilities associated with errors and omissions can be covered with an E&O policy. Check with your insurer to see how much you are covered.

Understanding the Different Types of Liquor Liability Insurance

Business owners that serve alcohol know they can be held liable for various types of damage that result in injury or property damage by intoxicated persons. Liquor liability insurance coverage usually protects an alcohol-serving business from claims or damages that result from their patrons’ consumption of alcohol. This is just one of two types of liquor liability insurance that a business can purchase to help cover their operational risks. Companies that do not serve alcohol, but allow the consumption of it on their premises may also be liable from injuries and losses caused by intoxicated persons. In this case, a host liquor liability insurance policy helps protect these companies.

Exploring the Differences

Liquor liability policies are usually one of two types:

  1. Liquor Liability Insurance: This is recommended for businesses that sell or serve alcohol to protect against lawsuits resulting from injuries or property damage from an intoxicated person.
  2. Host Liquor Liability Insurance: This type of coverage is advised for companies that host social events where alcohol can be consumed on the premises.

Host liquor liability insurance is often included in general liability insurance. It covers medical expenses, damages and legal costs.

Tailoring Your Coverage

As a business owner, you should consult an insurer that specializes in liquor liability coverage. The right provider can help you determine the specific type of liability coverage that your business needs with respect to risks associated with alcohol service and consumption.

Top Surprising Reasons Business Insurance Can Help Protect Laundromats

From keeping the machines in top shape to sharpening your accounting skills, operating your laundromat requires mastering multiple skills. One you might not have sharpened yet, however, is finding the right laundry business insurance. Although it can be easy to overlook, laundry insurance can have surprisingly protective benefits.

It Could Benefit Your Laundromat in Several Scenarios

If you think nothing will ever happen to your business that will require insurance protections, you may want to reconsider. Unexpected weather events like floods and fires occur frequently depending on geography, and other issues like theft or property damage can arise at any time. With insurance, you can rest assured that your business won’t take too big a hit if these events occur.

It Can Offer You Protections for Your Property and Your Workers

One of the biggest advantages in securing laundry insurance is that you can get both your property and your workers protected at the same time. While policies differ, you could potentially bundle:

  • Workers’ comp for your employees
  • Property insurance in case of damage to your building
  • Liability insurance in the event of lawsuits
  • Insurance for assets like washers and dryers in case they get damaged

You already put in plenty of work to keep your laundromat going, so make sure you’ve protected your efforts with a solid laundry business insurance plan. Once you know you’re covered, you can enjoy the added business security every day.

Understanding Contingent Liability

Navigating the various kinds of liability insurance available to your business can be confusing. General liability covers just about everything, so shouldn’t that be enough? The fast answer is no, and it’s not a good idea to just buy more general liability coverage if you only face additional exposure along one line of liability. Since general policies tend to have a cap overall and for each type of liability covered, additional coverage that suits your unique business risk profile is often a good idea, and that’s what contingent liability insurance policies offer to businesses who need them.

What Is Contingent Liability?

Often called indirect liability or 3rd party liability, this avenue of risk is essentially when you bear liability for possible damages to a third party as a result of work your business does. The three terms are interchangeable, so if you have an existing 3rd party liability policy, it’s essentially the same coverage. Depending on your business’s operations, you could have just a little exposure in this area or it could be one of the biggest avenues of risk you face, which is why it is typically included in general liability and sold on its own as an extended policy as well. If you’re not sure whether you have enough coverage in your general liability policy, it’s a good idea to have a professional walk you through your exposure so you can buy the coverage needed to fully protect your business.