Many professional employment organizations deal with an increased risk of claims due to the ever-rising multitude of wrongful termination and employment discrimination laws. The Employment Practices Liability (EPL) coverage in a peo insurance policy gives employers protection against a wide range of violations.
Federal or State Employment Laws
Following a claim made by an employee, EPL coverage will pay for any fines or legal fees created due to a violation of a state or federal-passed law. Below is a complete list of the laws which are covered in this type of policy.
- Genetic Information Nondiscrimination Act-Immigration Reform and Control Act
- Equal Pay Act-Civil Rights Act
- Age Discrimination in Employment Act
- Pregnancy Discrimination Act
- Americans With Disabilities Act
Which Exceptions Apply?
Any client companies or worksite employees that are directly affected by a violation of any of these laws are covered by the insured’s peo insurance coverage. Violations made prior to the start date of the insurance policy or non-employee related liabilities are not covered by EPL insurance.
Which Additional Coverages Are Recommended?
A complete peo insurance package should include general liability, errors and omissions, owned, hired or non-owned auto, employee benefits liability, directors and officers liability and employer’s liability coverages. The types of coverages, as well as their total coverage amounts, can be tailored to the company’s requirements.
The right type of commercial insurance can make a huge difference in your business’s long-term success. Certain types of policies are standard such as commercial property, fire, commercial auto and general liability. However, have you researched employment practices liability? If you haven’t you are in luck. Here is an easy guide so you can be better prepared while shopping for coverage.
Employment Practices 101
For those who are just starting out as business owners, this type of liability may not seem necessary. If you are following the law, what could a go wrong with your employees, right? Unfortunately there a number of different scenarios where you can find yourself at the end of a lawsuit.
If one of your employees claims discrimination, harassment or wrongful termination, you may likely have to go through a long and expensive legal process regardless of whether or not their claims are substantiated. What employment practices liability does is cover the expenses involved with this process.
A claim can even occur from applicant to your company. The moment they send in their work application they can claim discrimination against their hiring.
With so many possible lawsuits, it is better to be prepared against the worst. Acquire employment practices liability and be better prepared for the future.
Malpractice claims are a serious concern for professionals in the healthcare or legal industry, and being prepared to address any claims can only happen with quality insurance. There are many professional liability lawyers in Torrance who are experienced with assessing coverage needs and underwriting claims that can comprehensively address potential threats.
The American Bar Association warns those in the legal field of the need for malpractice insurance, estimating that three claims will be brought against lawyers throughout the course of their careers. The most common claims include:
- Clerical error: Elements could include mistakes in the typed legal descriptions, transpositions or numbers or errors which may have been avoided with through and effective proofreading.
- Conflict of interest: Associations, connections or decisions made by the lawyers that allegedly had a conflict of interest concerning the well-being or case of the client.
Knowledge and application of the law: Clients allege legal counsel failed to be properly informed on elements of the law or failed to apply them to along appropriate principles. It may also include instances of erroneous reasoning.
Lack of action or timely services: The attorney is accused of not performing their duties in a timely manner or not taking action at all.
Through the services offered by the professional liability lawyers in Torrance, your legal practice can find the protection needed by obtaining the right malpractice coverage.
What Employee Benefits are Required?
The federal government has mandated certain allowances and requirements for businesses who offer employee benefits. At times, these regulations may create confusion when viewed in accordance with local and state policies. When considering New Jersey workers comp plans, there are times when an employee is faced with several options concerning their rights and protections. Here is how you navigate those waters.
Primarily the Family and Medical Leave Act offers employees protected job-related leave for a variety of reasons. Many commonly regard this as applicable to expectant mothers and fathers, critical illness and things that are not job-related injuries. However, a workplace injury that might have long-term, recovery needs of multiple weekly appointments or treatment that creates numerous absences causes some concern and questions.
Although FMLA doesn’t include compensation, it does offer protected leave. With New Jersey workers comp, compensation and healthcare are required, but job protection does not have to be guaranteed. With the above-mentioned scenario, both protections are applicable unless the employee refuses light duty replacement employment with the company, and therefore is only entitled to FMLA and not necessarily full compensation according to their workers comp benefits.
It is always helpful to consult with your insurance carried concerning the liabilities that your company is responsible for, just as an individual should fully understand their entitlements when experiencing long-term illness or injury that may or may not be work-related.
As a Delaware business owner, you have likely prepared for opening day for a long time. You have applied for the right permits, planned out your marketing strategy and started looking for employees. However, what you may have not planned for is potential disasters, theft and emergencies. Any experienced business manager can tell you that planning for your commercial future involves getting the right insurance protection. Thankfully, there are many agencies that provide superior business insurance in DE.
Guide To Commercial Coverage
You may be confused with the different types of policies agencies can offer. Here are just a few that you may benefit from:
Employment Practices: Employment practices insurance handles lawsuits from your employees that involve potential wrongful termination, discrimination, and harassment.
Commercial Auto: Commercial auto coverage can be molded to handle the damages you or your employees undergo while driving on a work-related assignment. This can also take care of damages you cause to other drivers.
Workers’ Compensation: If one of your employees gets hurt or sick while on the job, workers’ compensation can take care of the medical payments and lost wages.
Other common coverages consist of commercial liability, crime, employee dishonesty, commercial property and business interruption.
Business insurance in DE is accessible to all those who wish to invest in the financial future of their business. Start building your business coverage today!
Caring for Your Clients With the Help of Insurance
Marinas offer the protection many watercraft owners are looking for. That is why as an owner or operator you know that your clients are invested in finding the right one. However, have you invested in the right insurance for marinas? If you have not, you are at risk of a dangerous financial crisis.
Why Obtain Insurance?
The sea can seem like paradise. Unfortunately, there are many different situations in which your marina can undergo a crisis. For example, a large weather event or fire can occur. These can leave you with expensive repairs and replacements. Watercraft in your storage facilities can undergo damage during storage time and while they are being taken out onto the water. You can also face lawsuits from a number of different people. Therefore, it is better to be protected as early as possible.
What Kind of Protections Do You Need?
There a few different coverages that your location can benefit from. Some of these include
Depending on your facility’s needs, an agency may also offer coverage to watercraft you rent to clients.
No matter the size and capabilities, your location deserves great protection. Search for a team that is qualified to offer insurance for marinas today!
Even 10 years ago, most business professionals would shrug at the term cyber insurance. Today, hackers target cyber systems in an effort to steal and sell personal and proprietary information stored digitally. They also attack businesses with ransomware and malware, which could cripple your business.
To protect your business, beyond high-end digital security practices, consider cyber insurance for those instances when the firewall isn’t enough. There are a couple things to keep in mind when shopping for information security, or cyber, insurance.
Cyber Insurance is Relatively Inexpensive
If you run a small- or medium-sized business that does not deal in a lot of digital customer information, you could find an adequate information security policy for less than $1,000 annually. That depends, however, on the type of information security systems you have set up. The more you are protecting customer data, the less a risk you are, which translates into a smaller premium.
Know What’s Not Covered
There are usually several exceptions to any information security policy. It is up to you to review what those are understand how you are protected. For example, you may not be covered if malware is downloaded to your network by an employee.
When hackers target cyber systems, they are almost always after sensitive information. As long as you have the right security plan and cyber insurance coverage, you should be okay.
Unfortunately, as technology advances so do the risks. With the cyber attacks increasing on businesses, the risk for data breach is high. Wherever there is a risk to your business or your data, there should be insurance to cover it. If you’re looking for cyber risk insurance in Indiana then you already know this. What you may not know, however, is how it works.
When you have cyber risk insurance, you are transferring your risks. For instance, if your company suffers from a cyber-attack, any losses you suffer must come out of your business’s pocket. Insurance frees up your resources and the risks transfer to the insurer.
An insurer will discuss and decide what types of coverage your business needs. Since technology is always advancing, it’s important that you have a specialized agent who understands the risks to your company. An agent or broker who specializes in cyber risk insurance in Indiana will help you figure out coverage, exclusions, deductibles and limits.
When it comes to your electronic data and information, you don’t want it to end up in the wrong hands. Cyber attacks can and do happen. While you may have defenses set up, cyber risk insurance is important as an extra safety precaution, in case something happens.
Truckers or freight companies often try to remain frugal when it comes to purchasing load insurance to reduce their overall expenditures. However, there are several problems they may run into down the road that may make it more worth the investment than they anticipated. Here are a few reasons cargo insurance is a must have.
1. Required By Contract
Some companies which hire trucks to haul cargo or goods may require load insurance up front before they agree to have you ship for them. If the goods end up lost or damaged the truck owner is required to pay for damages. If the terms of the contract are breached then the truck owner may also face legal issues or post-term financial losses.
2. Protection Against Underinsured Claims
The truck owner or freight company can’t always depend on the buyer’s or seller’s insurance to cover the total value of the load unless their insurance details had been discussed beforehand. If a buyer or seller purchases insurance from a foreign location or obscure broker and there is a claim, the freight hauler could end up paying more in legal fees than damages.
3. Paid Export or Import Risks
If a freight company hasn’t been paid for the goods they are selling in an export, they face a risk of losing the value of the cargo if they are damaged. Likewise, a freight company who has already paid for goods they are importing can not be reimbursed for the value of the haul.
You take care to craft a high-quality, high-performance marine vessel. When searching through the available yacht builders insurance brokers, look for one that takes the same care with their clients. Your reputation and business benefit from a broker who holds your values close to heart.
Why Use a Broker
An insurance broker can navigate the different coverage options to cover your risks and liabilities. What types of yachts the company builds as well as the size of the company influence the coverage options needed. Yacht builders insurance brokers tailor their policies to the company often including many of the following in the policy:
- General Liability
- Workers Compensation
- Builder’s Risk/Boats Under Construction
- Ship Repairers Legal Liability
- Business Income Coverage
- Docks and Piers Coverage
- Directors and Officers Coverage
- Jones Act/MEL/USL&H
- Protection and Indemnity and Hull Coverage
- Wind, Hail and Flood Coverage
- United States Longshore and Harbor Workers Act
How to Choose a Good One
Yacht builders insurance brokers who take the time to get to know your business and your company are best equipped to help you ascertain the coverage options you need. You might need some, all or more coverage than listed above. A broker with experience in your line of work can be an invaluable asset. Don’t wait until disaster strikes to analyze your current policy or obtain one.