When choosing insurance, many new businesses may have been recommended general liability ascendant insurance. If you’re unfamiliar with this type of insurance, then you may not understand how to find your business’s coverage needs or even how it works.
What Does General Liability Insurance Cover?
At some point, businesses require basic asset, employee or customer protections to avoid legal settlement or punitive damages. Here are a few of the following areas which general liability ascendant insurance may protect your business.
-Medical costs (for injuries caused on the property)-Legal defense (covers costs of settlements or awards)-Renter damages (covers the cost of damage or accidents caused by the person renting a home)-Misinformation claims (copyright infringement, slander or false advertisements)
Most businesses may benefit from the type of base coverages offered in the general liability insurance policy. If you need additional coverage that is not listed, you may need to speak with your insurance agent to find the right type of insurance for your business.
How Much Coverage Does Your Business Need?
When you set up a policy with an insurance agent, they can help you determine how much coverage you may need and which types of insurance would benefit you best. The amount of coverage in monetary value and risks covered will largely depend on the type of business you have or how big overall the company is.
Many industries rely on temporary staff to maintain their workforce, and staffing specialists fill this need. In addition to the challenges of attracting and retaining excellent help, temporary staffing insurance can provide a unique set of challenges for these agencies.
What Kind of Insurance Is Necessary?
While the employees of a staffing agency may be doing their work for a variety of businesses, their insurance needs fall on the agency that supplies them. Depending on the type of services offered, appropriate coverage’s may include:
- employee benefits liability
- crime coverage
- workers’ compensation
- abusive acts liability
Obviously, the specifics of any agency’s needs will depend on the types of temporary staffing offered, and the list above is far from complete. It is critical to work with an experienced insurance provider to find the right solutions for reducing your risk.
Protecting Agencies and Their Employees
Ultimately, the purpose of temporary staffing insurance is coverage for the kinds of situations unique to the industry. For obvious reasons, a staffing agency has far less control over their workers’ environments and behaviors than a traditional, permanent employer. The right coverage reduces the risk of exposure for factors outside the agency’s control, and allows you to focus on serving the clients whose staffing needs you address.
If you are a business owner and want to protect your company from possible legal action, you know you have to back the business with the right insurance policy. But what type of policy? Professional liability or errors and omissions insurance? Which is better? And are they the same? For an insurance company, professional liability and E&O insurance questions are easy to answer.
What are the differences? There aren’t many, but they do exist, and they can be significant. Here are a few ways the two products are different.
Differences and Similarities
Today, professional liability and E&O insurance are nearly synonymous, but that was not always the case. Years ago, professionals, like lawyers and doctors, would purchase professional liability insurance, which would protect them from malpractice. A similar product was available to smaller businesses, sometimes called semi-professional occupations, termed errors and omissions insurance.
There are technical differences between the two. Professional liability insurance provides a larger umbrella of protection than an errors and omission policy, which is intended to be slightly more specific in nature. You will discover various insurance products under that professional liability umbrella. E&O insurance is more focused on protecting professionals from what they did and didn’t do.
Ask your insurance company the right questions. Professional liability or errors and omissions insurance? They will help determine which is right for you.
As soon as they step behind the wheel of their cargo transporting rig, drivers take on the full responsibility of the load to make sure it arrives to its destination safely. If truck and freight operators experience an accident, they have the option to request a cargo insurance quote online to find the best deals.
How Is the Cost Determined?
The total cost of insurance for cargo truck companies is based on how many vehicles, the value or type of cargo or the type of vehicle transporting the cargo. After liabilities and risks are evaluated, the insurance broker will determine the best policy for your company.
What Type of Risks Are Considered?
An expert insurance broker will take a look at the types of guarantees or exclusions your company has created that may put your income at risk. The Motor Truck Cargo Insurance will cover the following types of risks.
- Cargo stored in the warehouse or terminal-Cargo in transit or being moved for transit-Cargo that has been delayed for transit or being shipped with other packages-Cargo that can be damaged from fire, collision or minor accidents
Are There Any Restrictions or Exceptions?
Its important to note that the Motor Truck Cargo policy only covers for-hire types of trucking services that use the following types of vehicle designs.
- Box trucks-Car haulers-Cargo vans-Cement mixers-Dump trucks-Pull-behind cargo trailers-Flatbeds-Tractors
To request a cargo insurance quote online, contact a reputable insurance broker.
Having insurance coverage protects your most valuable assets, whether in a residential or commercial setting. When you are looking for competitive rates and superior services, ask the providers of insurance for Bergen County residents what they offer to meet your specific needs. There are two types of insurance you may be in the market to purchase.
Also known as residential, personal insurance policies protect valuables, assets, family members and property. The types of exposure to risks you have will help you decide the amount of coverage you need, but these are common policies with standard limits. Comprehensive coverage options would include policies for the following:
- Home Insurance
- Condominium Insurance
- Renters Insurance
- Flood Insurance
- Earthquake Insurance
- Collector Car Insurance
- Auto Insurance
- Motorcycle Insurance
- Boat Insurance
- ATV Insurance
- Personal Umbrella Insurance
Also considered commercial coverage, business insurance has application for both small and large businesses. The size of the business, the location, the type of industry and the number or employees helps determine the type of policy you need. Commercial coverage options include:
- General Liability Insurance
- Workers’ Compensation Insurance
- Commercial Auto Insurance
- Property Insurance
- Commercial Umbrella Insurance
- Employment Practices Liability Insurance
When looking at the options of insurance for Bergen County residential or commercial needs, consider your direct coverage needs and the agency best able to meet them.
Hospice liability insurance programs are a critical layer of protection for end-of-life care providers. The difference between what a family anticipates and what actually happens may be significant, and grieving family members may feel justified in filing complaints or lawsuits. In the last 5 years, more than 3,200 claims have been filed against hospice providers.
Hospice is a blanket term covering a variety of services which may be provided in the patients home, in a rehabilitation or nursing facility, or in a long-term care facility. In addition to pain management and other palliative care, hospice providers offer emotional and psycho social support, coaching for family members involved in care, and bereavement counseling.
What Can Insurance Cover?
Liability insurance for hospice providers should be tailored to the specific needs of a particular provider or facility. Elements of that coverage may include protection against claims based on the following:
- allegations of errors, omissions, or negligence in the provision of care
- allegations of billing fraud and financial impropriety
- on-the-job accidents and injuries to employees
Responding to any of these types of claims may be costly, both financially and in terms of human resources. Hospice liability insurance programs can provide the coverage your agency needs to meet these challenges.
The never-ending risks involved in the marine and boat manufacturing industry may comprise your business or private vendors if you experience losses. Many pleasure boat insurance brokers understand the types of risks involved and want to help you protect your boatyard to its fullest. Some insurance companies claim to cover some of the most incidental of risks, but do they live up to the expectations?
What Exactly Is Covered?
Choosing a reputable company can make all the difference if your pleasure boat crafting or manufacturing business experiences damage. There’s no telling what could go wrong, especially when you have several tests to conduct or employees to manage before your product leaves the door. Here are a few damages that most pleasure boat insurance brokers offer protection for.
- Business buildings/property (docks and piers included)
- Miscellaneous business/personal property (vehicles, equipment and tools)
- Boats under construction (launches and tests included)
- Stock or inventory-Criminal theft or damages
- Weather-related damages (wind, hail and floods)
- Income losses
- Workers Compensation (for hired workers)
Which Risks Are Considered Liabilities?
In many ways, liabilities can change or impact the total quote for your insurance. Here are some liabilities that are legally considered by insurance companies to pose risks for pleasure boat crafting businesses.
- General liabilities (business related or past claims made on insurance)
- Commercial vehicles used for business
- Hull coverage-Pollution (environmental or noise)
- Protection and Indemnity Coverage
- Umbrella and Bumbershoot
- Marina Operators Legal Liability
- Ship Repairers Legal Liability
While you may be protecting your business with increased cyber security and insurance, the people working for you may not be so aware of cyber practices and techniques to protect not only themselves but the entire business. Cyber security training for employees is important because if a hacker finds just one cracked door in your business, they can break in.
Depending on your insurance policy, cyber security training for employees may be required. Once that is proven, however, your insurance can cover even if an employee is at fault. Some important points to cover in training are as follows:
It’s important for employees to know the dangers of installing software onto their company computers that have not been approved. They also should know to be wary of online links and to report immediately if a virus or malware has been detected on their computer.
It is just as important to keep personal computers, phones, tablets, etc. secure if employees are accessing business data. They should avoid unsecured Wi-Fi, use strong passwords and keep their devices safe.
While tricky, its important in cyber security training for employees that they are taught how to recognize phishing scams so that they do not give up important company information. These are possible through emails, social media, phone messages, websites and more.
As the contract staffing industry grows, its vital that your agency keeps up-to-date with the changes to staff insurance regulations and laws. Just like any business, there are some basic insurance policies that your staffing company must carry, but there are also other coverages specific to the unique demands of your industry. Examples of these include,
- Owned Auto Liability
- Hired & Non-Owned Auto Liability
- Direct Hire/Executive Search & Recruitment/Retained Search Liability
- Employment Practices Liability
- Fiduciary Liability
Get the Right Insurance for Your Staffing Agency
Due to the nature of the staffing industry, your staffing company faces insurance pressures that non-staffing firms don’t experience. Contract staffing firms need to cover employees who work for other firms, while also being under the employ of your employment agency. This results in a complex relationship between your firm and your employees which requires you to review your staff insurance coverage regularly. A skilled insurance representative can assist you in navigating the ever-changing insurance landscape to ensure your firm has the coverage it needs before you need it.
Regular Policy Reviews Can Save Your Company
Smart staffing agencies keep on top of their staff insurance policies. All it takes for your company to face bankruptcy and closure is a serious accident that’s not covered by your current insurance policies. Before this happens to your business, reach out to a trusted insurance representative for a comprehensive review of your coverage.
A solid business plan for company owners should always include comprehensive insurance coverage. Yacht and boat builders know that in spite of safety and quality control measures put into place, sometimes accidents or other problems still can occur. If you don’t already have comprehensive boat builders insurance in place, researching insurance options should be the next step in your business development plan. This type of insurance can protect your business and your livelihood.
What Does Business Insurance Cover?
When a business owner thinks of insurance, an accident is often the first thing that comes to mind. However, boat builders insurance also protects your business against litigation or in the case of a disaster. Typically, a comprehensive insurance plan will cover the following areas:
- Protection against litigation and legal liability
- Damage to boats currently under construction
- Damage to business property and materials
- Interruption to business due to illness or injury
- Damage caused by natural disasters
- Theft or other crimes
Even if your business is small and growing, making sure you are fully covered by boat builders insurance is essential. You take extra time and care to build quality crafts for your clients, so taking an extra step to ensure the longevity and security of your business can help you enjoy long-term success.