Monthly ArchiveOctober 2019

manufacturer's insurance

3 Areas of Liability in Manufacturing

3 Areas of Liability in Manufacturing

If you operate a manufacturing facility, you probably carry a manufacturer’s insurance policy. However, if you are careful, your policy may have exclusions or gaps that don’t cover some of the biggest areas of liability your company might face. One of these crucial areas is product liability. The group at https://www.dsayles.com cautions that financial costs associated with resolving claims concerning product liabilities are only a part of the challenges for a company. Trying to repair your company’s reputation can be costly, and it can take years to return to good standing in the industry.

The liabilities with a company product can occur at any stage of development, making it crucial for the company to continually demonstrate a commitment to safety. There are three primary areas of product liability facing manufacturing companies.

  1. Design Defects. When the products are in the design phase, a hazard analysis should be conducted to determine the potential areas where an end-user could be harmed or the property itself could be damaged. This should include both anticipated and unanticipated uses.
  2. Manufacturing Defects. If a product has been found to have a defective condition that creates or created a danger to the user, the manufacturer can be held liable. Quality assurance programs can help catch these areas.
  3. Warning and Instruction Defects. Hazards that can’t be avoided by design may be cautioned against through warnings. The adequacy of the warning to protect a consumer can be the cause of a liability concern, with inadequate warning potentially leading to end-user harm.
homeowners insurance

Is Your Home Protected Against Winter Snow?

Living in a winter wonderland can be a magical experience, but snow can damage your home during and after storms. If you’re curious about how snow damage & homeowners insurance are related, this short guide is for you.

Potential Damages From Snow

Whether snow accumulates on your roof, seeps into your walls or damages your power system, it is generally covered under your homeowner’s insurance policy. Some of the winter damages that are associated with snowstorms that your policy helps with include the following:

  • Fallen tree branches
  • Frozen pipes
  • Leaks from melted snow
  • Strong winds
  • Ice dams

Getting the Most Out of Your Policy

Many people assume that damages resulting from snow or other winter weather occurrences are covered under home insurance. However, if damages could have been prevented, your homeowner’s insurance policy will not cover the damage, according to information provided by Thayer Innes Insurance. For example, performing the following maintenance throughout the year means insurance companies are more likely to provide compensation for damages:

  • Keeping the roof in good condition
  • Trimming trees
  • Shoveling snow
  • Repairing old pipes

Maintaining Your Home Is Key

As the colder months approach, it’s important for you to be aware of any conditions regarding snow damage & homeowners insurance according to your policy guidelines. Following the tips above regarding maintaining your home can help you have even more protection when it comes to snowstorms this winter.

Health Care

Most Vulnerable Data of Home Health Care Providers

Similar to other healthcare companies, home health care providers must adhere to HIPAA guidelines which require they protect patient data. However, hackers constantly present a problem by stealing data on the business’ servers. Here is a list of the most vulnerable data hackers are after.

Payment Information

Many patients use insurance to pay for their home health care. A hacker can take that information and fraudulently bill the insurance company. Credit cards, bank account information and health savings accounts are also vulnerable to theft.

Personal Information

A patient’s personal information is often contained in a server for access on mobile devices by clinicians attending to patients in their homes. This information includes their name, DOB, SSN and address which are prime targets for hackers. They can use the information for fraud and identity theft.

Health Records

The majority of people are not interested in others knowing about their detailed health histories and issues. This information can help hackers better target their fraudulent claims for lower rates of denial. As seen on Manchester Specialty Insurance, stiff penalties are common after home health data breaches.

Home health care providers need an effective security plan to protect the data of their patients. In addition to HIPAA violations, data breaches can bring forth lawsuits from patients whose data was stolen.

Huntersure LLC

Understanding Miscellaneous Professional Liability Insurance

If you own or manage a company that provides professional services, it’s essential to make sure you have the right level of insurance coverage. One type of insurance you may want to have is Miscellaneous Professional Liability insurance. This type of coverage can help reduce the financial consequences of errors or omissions that occur when you provide services to your clients.

The Basics of MPL Coverage

You may wonder exactly what is MPL insurance? In essence, this type of coverage can help protect your company if there are allegations or lawsuits based on problems with the services you provide. For example, some circumstances that MPL insurance may cover include lawsuit claims that your company failed to meet service deadlines, misrepresented the services offered or made errors during service contracts.

MPL Client Industries

You may consider obtaining MPL insurance no matter what type of services your company provides, but this type of coverage is especially common in certain industries. The insurance firm Huntersure LLC states that MPL insurance may work well for certain professionals: property managers, real estate agents, consultants, bookkeepers, travel agents, and publishers.
Having the right insurance coverage for your company can help protect your financial assets if there is a lawsuit or other legal action. If your company provides professional services, you may want to consider getting MPL coverage that can help offset liability issues related to errors, omissions, and failures that occur during service contracts.