Insurance Insights

You have worked hard to start your business and find the perfect location, but what if an unexpected event was to occur that would cause damage to the dwelling and contents? There are a number of ways to plan for events such as fire, flood, vandalism, theft, windstorms, or natural disasters, but no way to avoid them completely. Aside from basic precautions, your building should also be protected by a perils insurance policy. When choosing an insurance policy to protect from unexpected events, you will need to choose between a named perils policy vs open perils policy.  There are some differences between them, and it’s important to be educated on these differences before making your final decision.

Director’s and Officers liability insurance, otherwise known as D&O Insurance provides insurance that protects  officers and directors of both nonprofit and for-profit companies from liability for monetary damages that result from actual or alleged wrongful acts committed while performing their duties for the company. Director’s and Officers liability insurance also covers expenses associated with administrative, civil, criminal and regulatory proceedings relating to actual or alleged errors, omissions, neglect or breach of duty.

Professional liability insurance is a type of business insurance that protects small business professionals against potential claims of negligence generated by their clients or patients. Depending on the profession, professional liability insurance can take on a number of names, such as professional indemnity insurance, errors and omissions insurance, medical malpractice insurance. For website developers, software developers, real estate brokers, notaries public, management consultants, technology consultants, and other non-medical professional involved in a small business, the insurance is typically termed E&O or errors and omissions insurance. For those in the medical field, it’s called medical malpractice insurance.

A management consultant is a professional who helps organizations in various industries improve their business, including their strategies, objectives, and overall business plans. He performs duties like reviewing the business staff and structure, preparing development programs, increasing cost effectiveness, improving revenue and profits, reviewing strategies and objectives, looking for new techniques to hire personnel and provide incentives, recommending plans for improvement, and executing new projects.

Operating a business without business insurance now is not a good idea especially

Small business owners are sure to find a lot to love about doing business in Florida. After all, it’s warm, sunny, and its lack of personal state income tax makes it an ideal location to launch or grow a business. Yet, doing business in Florida isn’t without its risks. The central portion of Florida is believed to be the lightening capital of the country, as it has more lightening strikes than anywhere else in the nation. Florida is also hit with its share of hurricanes, tornadoes, and flooding. All of these reasons highlight the importance of weathering the storm with adequate business insurance in Florida.

Most businesses make sure they have business insurance, even if just general liability and business property coverage, but they don’t always have proper coverage for things like slander or libel. Without the right insurance coverage, you could be facing thousands of dollars in legal costs even if you’re found to be not guilty of the claims made against you. Do the right thing and make sure you have adequate coverage from these types of accusations before the claim is made.

Many new, or soon-to-be, homeowners have questions about home insurance. One the biggest questions new homeowners ask is: “Am I required to have homeowners insurance if I own a home?”

Places to pull off safely at truck stops are at a premium along major corridors for freight hauling in the U.S. The demand is high because the new regulations require regular downtime. And the surging economy has propelled more trucks on the road.

Employment practices liability claims involve work-related suits stemming from allegations of discrimination, harassment, wrongful termination, wage-and-hour disputes, retaliation, and other issues. These may seem as the type of claims only larger companies face. But this is far from true and just as with any industry, independent and franchise truck dealerships – big and small – are exposed to workplace lawsuits.  In fact, small operations as with any size firm face an increasingly higher level of employment liability risks due to a tougher regulatory landscape over the last several years.