You may think your General Liability or even Umbrella insurance policy covers all
your risk, but that’s not the case. General Liability Insurance covers claims of
bodily injury and property damage only and typically excludes coverage for claims
related to the delivery of professional services or employee injury. The liability
risk associated with your company’s professional errors, omissions and negligence
can be far greater than the bodily injury and property damage risks covered by your
General Liability policy. Check out these situations, and see if “This could Happen
to you!”
Can this happen to you? : Computer Virus shuts you down
You hire a temp while your billing clerk is on vacation. During his lunch break,
unaware that it is against office policy, the temp surfs the internet. After you
address the incident, you are unable to access your online customer records because
a virus as a result of the temp’s surfing has infected the system. Your business
is at a standstill. Yu can be sure this employee is temporary for sure!
Yes – how can I manage the impact of this risk?
What you need is Computers and Media Insurance. This specialized coverage protects
your investment in computer technology by reimbursing you for Physical loss or damage
to your computer hardware; Loss of or damage to data or computer software – including
electronic customer records; and Damage caused by computer virus or denial of service
attack. Get this coverage and you can weather the storm of a computer virus whether
it was temporary or not. In addition, you can also buy coverage that will replace
lost income as a result of not being able to conduct your business, especially if
you rely on internet sales.
Can this happen to you? : Employee Lawsuit!
A new hire is having difficulty working with your longer-term employees and you
terminate her. She is 57 years old and files suit for wrongful termination — claiming
age discrimination. Now your lawyers are having difficulty working with her.
Yes – how can I manage the impact of this risk?
What you need is Employment Practices Liability Insurance (EPLI). EPLI covers a
variety of workplace-related legal actions, including:
- Discrimination
- Sexual harassment
- Wrongful termination
- Breach of employment contract
- Negligent evaluation
- Failure to employ or promote
- Wrongful discipline
- Deprivation of career opportunity
- Wrongful infliction of emotional distress
Businesses that purchase EPLI coverage may actually reduce the likelihood of workplace
harassment and discrimination. Insurers generally review a company to check for
workplace liability before they issue a policy, and in addition will provide loss
control services such as newsletters, legal consultation, and a toll free hotline.
Can this happen to you? : I just finished the monthly reports and my wrist hurts
?
Your office manager is diagnosed with carpal tunnel syndrome (CTS) due to work-related
repetitive motion. That monthly report was way too big.
Yes – how can I manage the impact of this risk?
Those diagnosed with Carpal Tunnel Syndrome may experience pain, numbness and tingling
sensations in the arm, which may extend to the shoulder and neck area. To aid in
the prevention of Carpal Tunnel Syndrome, stretching exercises of the wrist, hand,
and fingers have been used to combat the pain and numbness caused by repetitive
actions. Other than using recommended stretches and exercises, useful treatments
for CTS include use of night splints, corticosteroid injections and ultimately surgery.
The coverage you need is Workers’ Compensation. This coverage will help injured
workers obtain quality care, Most coverage’s include a return-to-work program that
assists your injured employees in getting back to work as soon as medically appropriate.
Can this happen to you? : I’m a IT consultant late on a project
A client contracts with a software consultant to develop a software system. The
contract contains specific benchmarks for speed and other requirements. These benchmarks
are not reached, allegedly as a result of the consultant’s negligence. The consultant
is sued for loss of profit due to negligence, breach of contract, and negligent
misrepresentation.
Yes – how can I manage the impact of this risk?
Whether your company employs hundreds of consultants or you work out of a home office,
if you make your living providing IT services, you need Professional Liability insurance,
also known as Errors and Omissions insurance, Professional Liability insurance is
your most critical coverage. Professional Liability insurance protects you and your
business from potentially catastrophic litigation caused by charges of professional
negligence or failure to perform your professional duties. This might include errors
and omissions resulting in loss of client data, software or system failure, claims
of non-performance, or negligent oversell. Don’t let this happen to your business
without covering your risk, call bolt insurance today to set up a coverage review.
The information provided in this material is intended to be general and advisory
in nature and should not be considered legal advice. Certain coverage and features
and vary by state and may not be available to all insureds. All coverages are individually
underwritten.
