All Posts tagged Insurance

Can Subcontractors Drive Company Vehicles?

Can Subcontractors Drive Company Vehicles?

Can subcontractors drive company vehicles? The short answer is yes. As with all questions related to business relationships, however, the complete answer is that it depends on the circumstances and risks involved.

Circumstances

Subcontractors usually supply their own tools, rather than relying on a client to provide them. Allowing a subcontractor to drive a company vehicle blurs the line between employee and contractor, and can lead to the breakdown of a good working relationship. Situations do sometimes arise in which it is simply more convenient or cost-effective for both parties if the contractor uses a company vehicle. In these cases, the decision whether to allow it is up to you

Risks

Unless specifically named on your policy, a subcontractor is not covered by your auto insurance. Therefore, it is a good idea to ask for proof of insurance before allowing one to drive. You also should consider purchasing professional indemnity insurance, sometimes called comprehensive independent contractor liability insurance. This type of policy will protect you in case a contractor is involved in an accident that results in a lawsuit.

It is perfectly legal for a subcontractor to drive a company vehicle, and sometimes it just makes sense to do so. If you decide to allow this practice, always ask for proof of insurance, and be sure your own policies are up to date.

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Risks of Expanding Business into Propane Delivery

Risks of Expanding Business into Propane Delivery

If you’ve been considering diversifying your heat and oil business to include propane delivery services, this can be a profitable move. However, there are also many things to keep in mind before jumping into this new endeavor.

Financial Considerations

Going into the propane industry will require a large financial investment. It could put a significant financial strain on the rest of your business. Many of the upfront costs that you will need to consider include bobtails, storage families and tanks for your consumers.

If your business is in a strong position financially, then this move can make a lot of sense. For businesses that are already struggling, it can make their situation worse.

Safety Considerations

Because propane is a hazardous chemical, your employees will have to go through additional training in safe housing and delivering propane. Some of the hazards include:

  • Propane inhalation
  • Direct skin contact
  • Correct use of protective equipment
  • Environmental disasters

These risks will necessitate the addition of propane dealers insurance to your commercial policy. If there is a mishap, you want to ensure your business is protected.

Propane can appear to be a lucrative business, and it can be if you have the resources to get a new business off the ground. Understand the risks and be cautious as you enter into the industry.

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Float Plan Information Guidelines

Float Plan Information Guidelines

Are you planning to spend time on the water? Then one important thing you need to do is file a float plan. This is a critical and often overlooked part of boater safety. A plan provides comprehensive information to an individual who will help oversee your trip itinerary. If you do not make it to your destination as designated, they can notify the proper authorities to make certain you are safe.

Float Plan Details

This is the type of information you should include in your float plan:

  • Personal data: Write down your name and phone number.
  • Boat specifications: Provide the type, make, model, year, color, length, registration number, survival equipment and the name of the vessel (if applicable).
  • Individuals onboard: Give the names, addresses and phone number of all people on board the vessel and be sure to include yourself.
  • Trip plan: Detail your departure and destination information, leave and arrival times and dates, and any stops while on the journey.
  • Vehicle and trailer information: Supply information about your vehicle and trailer and give complete registration information for both.

Always clearly note your expected return date and specify any authorities to be notified if you fail to get back on time.

The experienced insurers at https://www.marinersins.com/ also remind boaters that proper insurance coverage is necessary to keep you safe on the water. Float plans and insurance are good common-sense ways to protect you on any boat outing.

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Protect Your Company Against Management Liability

Protect Your Company Against Management Liability

When a company’s directors and officers are primarily responsible for its managerial functions and fiduciary duties, both the company and the directors and officers can face liability in the event of losses or damages resulting from wrongdoing. Companies need to protect both themselves and their directors and officers against all possible claims.

Examples of D&O Claims

Typically, D&O claims arise from situations in which directors or corporate officers are alleged to have failed to perform their management duties lawfully:

  • A company was sued for a business tort when it tried to recruit a competitor’s employee who was bound by a non-compete agreement
  • Corporate officers were alleged to have failed to disclose material information to investors
  • A company made charges immediately before filing for bankruptcy, fraudulently misrepresenting its ability to pay what was charged

The Financial Impact of D&O Claims

When a company and its directors or officers are sued jointly or severally, litigation costs alone can amount to tens or hundreds of thousands of dollars. Likewise, if a company loses a suit, they and their directors and officers may be ordered to pay hundreds of thousands of dollars.

Companies need to ensure that their insurance coverage will apply to claims made directly against directors and officers. It’s advisable that they work with an insurance carrier who can advise them about their risk exposure and necessary coverage levels.

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Insurance Policies Your Business Needs

Insurance Policies Your Business Needs

It’s a given that your business should carry general liability insurance. This will protect you and your business against claims of bodily injury or property damage that result from your business operations. In addition to general liability, here are some situations where other insurance may be needed.

  1. You Engage in Operations With Another Business

When you hire a contractor to do work at your place of business, such as construction or repairs, when an accident occurs from the work they perform, your business could also be at risk. Carrying contingent liability insurance will protect you against any claims that result from injury or damage occurring as a result of another business associated with yours.

  1. You Have Employees

If you have even one employee, your business should carry workers’ compensation insurance. No matter how safe or simple the work your employees perform, accidents can happen. The worker’s compensation will cover any medical treatment or payouts for disability.

  1. You Manufacture Products for Consumer Purchase

You may think your product is safe, but you have no control over what consumers do with that product once it’s in their hands. Product liability insurance will protect you if your business finds itself named in a lawsuit due to damages incurred by a consumer.

Always talk to your insurance provider to make sure your business is covered in every conceivable way against liability.

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Ten Commons Workplace Injury Claims

Ten Commons Workplace Injury Claims

Although employee injury coverage is required by most states, the nature of your company’s workers comp solutions will determine how effective your insurance has protected your bottom line and claims experience. Workers’ comp plans are written to address the exposures your employees face, and the more risks in the workplace, the more expensive the plan will be. However, the cost of the premium is a small price to pay when dealing with an employee injury claim is issued against the company. Here are the most common claims filed on workers’ comp policies.

  1. Overextension of muscles or physical ability
  2. Electrocution from wiring or installation tasks
  3. Trips slip and fall on walkways or wet floors
  4. Being struck by or against an object
  5. Machinery accident causing mutilation or being crushed
  6. Transportation accidents
  7. Exposure to harmful toxins or chemicals
  8. Workplace violence between employees
  9. Accidental overdoses of non-medical use substances
  10. Death or dismemberment by fire or explosions

The group of professionals at Insure My Work Comp advise that each company establishes a risk management strategy in addition to the purchase of a comprehensive workers’ comp plan. Being able to identify the areas of risk allows a company to establish processes that can minimize the threat, helping create a more safe work environment and lowering the costs of the insurance premiums.

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Choosing the Best Insurance Company

Choosing the Best Insurance Company

It is surprising how often you hear stories about how someone chose the insurance company that covers his or her company, home, or life. Perhaps the individual knew the agent in school, or his or her parents used that company. Remarkably, very little thought often goes into selecting and retaining a company that may be insuring part of your future.

Choosing

Making a wise decision regarding the right insurance firm can be difficult because of all the insurance storefronts in most towns. Another problem for many small businesses or startup owners is the time it can take to interview companies and compare rates. Program Business understands the problem many company owners can face, so the indemnity company put together a list of insurance storefronts to simplify the search.

Considering

Understanding the different types of insurance programs available, and if you will require specialty or add-on insurance policies is the first step in locating insurance in your area. Do you require off-site insurance, a construction policy, employee operation terms, or inland marine coverage? Once you decide the type of coverage you need, you can begin discussing deductibles and premiums.

One thing you should remember is that the agent may cover you with a package of insurance, but he or she works for a company – not you. Discuss claim methods and payout processes to understand the business better before you decide on an agent that will protect your future.

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The Value of Insurance for Your Cargo

The Value of Insurance for Your Cargo

The Value of Insurance for Your Cargo

It can be complicated to ascertain what types of insurance coverage to use to properly protect your business, especially when it comes to cargo transportation. Motor truck cargo insurance can be especially important since many insurance carriers will not cover a transportation company if they do not have this type of insurance. To make sure your business is not left vulnerable, keep these tips in mind.

1. Establish Needs

Take a look at the type of cargo your company usually transports, as well as how much is carried and the distance your trucks travel. This way, you can make sure you are getting the correct motor truck cargo insurance that you need.

2. Understand Limitations

Some types of cargo are usually excluded from coverage by insurance companies. This category can include items like alcohol, electrical units and clothing. Other carriers might not exclude this kind of cargo, but rather assign it a higher deductible. It can be worth it to ask the insurance company if they have any limitations that may affect your business.

3. Explore Additional Options

Your company may benefit from extra motor truck cargo insurance options. These can include coverage for unattended vehicles and theft, which are two scenarios often faced in the cargo transportation field.

It is crucial to find an insurance plan that adequately handles your needs in order to avoid potentially costly incidents in the future. By protecting your cargo and company today, you protect your future as well.

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Give Your Loved Ones the Care They Deserve

Give Your Loved Ones the Care They Deserve

When someone you care about has physical or mental challenges that become too difficult for you and other caregivers to manage on your own, care facilities are an excellent option to consider. Assisted living programs specialize in providing round-the-clock medical care for your family member. In a care center, you can be confident your loved one will be in good hands, and your burdens and worries can be relieved.

Assisted living facilities are accustomed to caring for residents who have a variety of issues and needs. Programs are found in these centers that cater to your loved one’s needs and that address their specific concerns.

The staff at these centers will treat your family member with the utmost care, concern and sensitivity. Plus, you can be sure that trained, experienced nurses will administer medication properly and will ensure that the patient is safe and secure at all times.

An assisted living center shouldn’t just be about the physical and mental needs of the patients. Assisted living programs should include social interaction and engagement through activities and games appropriate for the person’s level of capacity.

When you take your family member to a nursing home or care center, you can leave all your concerns at the door. Let the professional staff handle the day-to-day needs of ensuring your loved one has a good quality of life.

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How Do Invisalign Clear Braces Work?

How Do Invisalign Clear Braces Work?

Invisalign clear braces in Orange County are growing more popular every year with both teenagers and adults realizing the benefits. Before you get your aligners, it is important to learn a little something about the process. First, you will need to have a consultation with your dentist. This professional will explain this treatment in greater detail and tell you what you can expect. Not everyone is going to qualify for Invisalign, so this is when your dentist will also tell you if you are a good candidate. If your teeth can be treated, then impressions will be taken of your teeth so that your aligners fit perfectly over them.

You will be given your first set of aligners to wear. You will need to wear these for about two weeks until you put the next set in. Each set is a little bit straighter than the last so that over the course of the treatment, your teeth get aligned. In order to get the most out of Invisalign clear braces in Orange County, you need to wear them for 22 hours every day. You will need to see your dentist once every six weeks so that your progress can be tracked. In about a year, you will have a smile you will always want to show off.

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