Insurance Insights
I’m a Lawyer – I don’t need insurance!
As a legal professional, you can understand protecting your business from risk of loss and litigation better than any area in the small business community. Protection for your own Practice should not be overlooked.
Here are seven areas where your losses can be reduced or maybe even eliminated with the right coverage:
How Large Companies are Helping Small Businesses
In this economy, it seems like it is survival of the fittest in terms of company success or failure. But in reality, large companies are taking steps to help small businesses succeed, which, in turn, helps to improve the economy as a whole. Large companies are using a variety of tools and resources at their disposal to help small businesses survive — and thrive, whether it is financial assistance, technological resources, or using their knowledge and clout to help improve the economy.
Technology Professionals – don’t leave your important business open to a Lawsuit!
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.
If you are a subcontractor working on a client site, your client may require that
you provide proof of General Liability and Professional Liability insurance.
Professional Liability insurance can be a selling point and may be described in
your contract in this way: “Contractor will maintain at its expense: Professional
Liability insurance in the amount of $1,000,000 including coverage for errors and
omissions caused by Contractor’s negligence in the performance of its duties under
this agreement.”
Accounting Professionals, Tax season is coming, do you have professional liability insurance coverage?
Suppose one of your clients is shocked to receive a hefty tax bill, and decides
you’re the one to blame? Or, what if a client is audited by the IRS and mistakes
are found in his return? In either instance, whether you’re at fault or not, you
could face a client lawsuit, steep legal bills and the threat of financial loss
from paying any settlement required by a court.
Professional Liability Insurance also known as “errors & omissions” insurance, covers
your legal defense if your client makes a claim against you, as well as any damages
you’re legally obligated to pay to your client caused by your alleged negligent
or improper advice, or other errors or omissions in your tax preparations.
That could never happen to me!
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!”
Workers Compensation – more than just Basic Coverage!
The bolt workers’ compensation options can go beyond the industry standard, adding
valuable coverage at nominal cost with our Extended Options Broad Form Endorsement
that adds important enhancements.
Just give me the facts about Basic Business Insurance
You built a business by paying attention to your client’s needs. At bolt Insurance,
we have done the same with our insurance solutions for business services. We are
a trusted Independent Agent that has a complete understanding of the risks you face.
The commercial general liability policy includes many enhancements over the years
and its important to understand them. Given today’s litigious society, these insurance
“extras” are more essential than ever. Highlighted below are a few of the ways a
BOLT recommended policy would protect you if others claim your business is legally
responsible for their loss or injury.
The Most Common Types of Business Insurance for Small Businesses, Part I.
In part 1 of this quick guide to the most common types of business insurance for
small businesses, we will explain in plain-English 4 of the most most common types
of small business insurances, and why you might need each type. Because of our small
business expertise and the great relationships we have with small business owners,
we know it’s common for the non-insurance professional to get confused with all
the “insuranceze” out there.
Public Liability Insurance
Public liability insurance, also known as PLI, provides coverage for your business
in the instance that a customer or other third-party suffers an injury on the premises
of your business or has property damage while you are doing business. If you intend
to open your business to the public you will want to consider buying public liability
insurance to protect your business.
Courting Disaster: Small Business Lawsuits Infographic
Embed this Infographic:
Small business that don’t take seriously the threat of legal action (whether internal or external) are asking for trouble. Small businesses in the United States spend more than $100 billion a year thanks to legal action. Don’t leave your business vulnerable.
View our Courting Disaster: Small Business Lawsuits Infographic below to learn more about the most common lawsuits that small businesses face, how much it may cost you, and how to protect yourself. Presented as an Infographic (created for bolt by Infographic World) to help you more easily visualize and retain this information to protect your business.
Embed this Infographic:
