Tag Archive insurance

Liability Insurance

Liability Insurance for Educators

Educators today face many liability issues that were unheard of a few years ago. Lawsuits can encompass a large range of employment practices as well as student and parent issues.

Liability Coverage for Educators

Educator liability insurance protects against a number of different risks faced by school boards and educators. Coverage typically protects both employees and volunteers who work for the school. In some cases, coverage may protect students as well.

Liability claims can be categorized as follows:

  • Employment practice claims – These claims, usually brought by teachers and other school workers, are the most common type of lawsuit faced by school boards. Claims include discrimination, sexual harassment, retaliation and denial of tenure. Issues with the hiring and termination process are also fairly common.
  • Student or parent issues – When a student is suspended or expelled from the school for unacceptable behavior, a claim may be filed against the school board, the principal or the teacher involved. Considered wrongful acts can include teacher bias or professional errors and omissions.

It’s important to select an insurance policy that is broad enough to cover all those who work within the school system.policy

Liability claims against educators can be devastating for a school of any size. Make sure you have adequate coverage to protect each person working within your school system.

Risk Retention

2 Reasons Why Risk Retention May Benefit Your Business

If you own or run a business, you know the daily risks associated with daily transactions or operations. Most companies transfer that risk to an insurance company to alleviate potential fallout, yet sometimes business owners choose to retain them. Here are two risk retention examples of how they may benefit you.

1. High Premiums

Sometimes insurance coverage can get expensive, especially when you have multiple policies and plans. For this reason, sometimes, business owners will retain risk if the loss is less than paying for insurance coverage. For example, while vandalism and theft are never pleasant, these losses may be more affordable to correct out of pocket instead of paying high monthly or annual insurance premiums.

2. Inability to Find Appropriate Coverage

Forced risk retention involves making the decision to forgo coverage and retain risks due to them being uninsurable or uncovered by policy deductibles. The inability to find adequate coverage is another example of why risk retention is beneficial to business operations.

Choosing to retain potential risks isn’t one to take lightly, but one that may ultimately benefit your company’s overall success. Suppose you can pay for losses out of pocket or budget for more predictable ones. In that case, you may benefit from waiving insurance protection and researching risk retention group options.

Contractors Insurance

The Advantages of Contractors Insurance

If you own a business, there is always the possibility of incurring devastating financial debts from work-related accidents. Because of this, it is vital that you adequately protect your business. This is where contractors insurance comes in.

What is Covered by Contractors Insurance?

This type of insurance generally covers business liability exposures. Examples of these are injuries or damage to someone’s property caused by your business. Additionally, contractors insurance can provide coverage for your business’s vehicles and your employees.

Who Needs Contractors Insurance?

If you are a contractor, a subcontractor, or an independent tradesman, you need contractors insurance. Not only does contractors insurance provide protection for your business, but it also is often required by employers before you can start working for them. Some of the trades that need contractors insurance are:

  • Construction
  • Plumber
  • Carpenter
  • Electrician
  • Landscaper
  • Painter
  • Handyman
  • Pressure Washer

What is The Cost of Contractors Insurance?

Contractors insurance generally doesn’t have a set price that applies across the board. Rates can differ depending on a variety of different things. The biggest deciding factor in the cost is the amount of risk you are exposed to. For example, someone that works on high-up roofs will have to pay more than someone who is an HVAC technician.

Running a business can be hard and risky. Having the right kind of contractors insurance can make all the difference.

Brokers and Agents

Professional Insurance for Brokers and Agents

When you work in the insurance industry, you occupy a position of trust, just like in other financial services. Like those other financial professions, the decision-makers who ultimately take responsibility for the coverage paperwork by writing policies and closing deals wind up taking risks because of the liabilities they take on with regard to their clients. Insurance agent E&O is a bit different from what you’d see in the real estate or stock investment communities, but it does cover a wide range of similar mistakes and omissions, and it does provide similar protection against financial losses associated with liability for a client’s losses due to mistakes or intentional omissions.

What Exactly Does an Insurance E&O Policy Cover?

Confidentiality and information handling regulations are more stringent than ever, so modern E&O policies include provisions that cover you in the event of HIPAA violations, as well as longer-standing issues like insolvency, coverage for actions undertaken by independent contractors working on your behalf, and other common industry risks. That includes innocent insured coverage, too. For more specifics, you really need to talk to an agent who specializes in quoting E&O policies to other insurance professionals, because the exact coverage and cost is determined by your business risk profile, and as you know, that’s something it takes time to work up because it’s different for every business every year.

BOP Insurance Policies

Why Small Business Owners Are Choosing BOP Insurance Policies

One thing that every small business owner learns right away is that all businesses need insurance. One costly setback or major expense can mean serious problems if not covered by the appropriate policy. One way that business owners choose to protect themselves from a variety of costly scenarios is by selecting a business owners’ package.

What’s in the Box?

When you opt for BOP insurance coverage, you can rest assured that your business is protected under a wide variety of circumstances, because you know that you’re getting all of the insurance you need in one place and at one time. Rather than having to shop around and cobble together the policies needed to protect their investment, busy entrepreneurs can choose a single bundle under one premium and move on to turn their attention to the things that they’re passionate about.

Got Coverage?

Did a customer slip in your store, and decide to sue? Your general liability insurance can cover that as part of your BOP insurance policy. Did a freak hailstorm damage your storefront? Property insurance is included too, along with business interruption insurance if you have to close for a time.

The benefit of BOP insurance is allowing hardworking business owners to breathe easier at the end of the day, knowing that these packages of policies are protecting them if something goes wrong.

Supermarkets VS Convenience Stores

Supermarkets VS Convenience Stores: What Insurance Policies Do You Need?

Your store is an important part of your community. It only makes sense that you would prioritize protecting your assets from unforeseen circumstances. Whether you have a grocery store or a convenience store, you still need insurance.

What separates a convenience store from a supermarket, and does it change the type of policy that you need?

Supermarkets Versus Convenience Stores

Supermarkets and convenience stores are similar. The big difference is that convenience stores tend to have a more limited supply of products. They tend to be smaller stores, some of which have a 24-hour schedule. A supermarket does have similar risks when compared to a convenience store.

Both have to worry about theft, vandalism and injuries. Supermarkets simply tend to have more employees, more assets and may have different levels of risk.

Supermarket and Convenience Store Coverages

No matter what type of store you own, you will need similar insurance coverage. When working with an insurance agent, you can customize your options for your particular business.  If you need a supermarketing insurance policy, it might look very similar to the convenience store policy. Some coverages you need include:

All stores have their own needs for business insurance, so you must choose coverages based on your store.

Boatyard Insurance

The Most Important Types of Boatyard Insurance Your Facility Needs

Every boat owner knows that insurance is the best way to protect their boat on the water, but what happens when the boat is in storage? As a boatyard manager, the best thing you can do is invest in comprehensive insurance to protect your facility and your clients’ vessels every day. So, what types of coverage do you need?

The Must-Have Boatyard Insurance Types

The exact types of boatyard insurance that you’ll need will depend on the type of facility you run. However, most boatyards can benefit from these common coverage options:

  • Protection and indemnity insurance
  • Pollution coverage
  • Marine general liability insurance
  • Cargo insurance
  • Hull and machinery coverage
  • Docked vessel liability coverage

These are just a few of the coverage types you’ll need when running a successful boatyard. Keep in mind that every situation is unique. You’ll want to choose coverage that protects your business and your clients.

What To Look For

When searching for coverage, pay attention to the limits each policy and coverage types have. You’ll need to choose a comprehensive boatyard insurance plan that provides enough protection for your needs. Choosing coverage with small limits means you’ll have to pay more out of pocket every time you file a claim.

Every boatyard is different, but they all need high-quality insurance. Look for these types of coverage and your facility will be safe at all times.

Staffing Insurance for Nursing

Key Facts About Staffing Insurance for Nursing

If you run a medical staffing firm and specialize in providing healthcare facilities with qualified personnel, you may be wondering whether you need staffing insurance for nursing. While it might seem like an extra expense, staffing insurance is essential to protect your company in case of injuries and accidents, damage, liability claims, and more. Here are a few key facts to keep in mind as you search for the right coverage for your firm.

Coverage Can Be Tailored

No matter what your medical staffing firm needs, you can find an insurance program tailored to your situation. Coverage may include:

  • Workers’ compensation
  • General and professional liability
  • Cyber liability
  • Third-party crime
  • Regulatory audit insurance coverage

While you can purchase a broad package, you may want to look for a carrier that can customize your coverage.

Protect All Your Assets

When purchasing insurance, it can be easy to overlook potential liabilities. Be sure that the package you decide on covers all of your assets, including finances, personnel, and company property.

Running a medical staffing firm can involve a lot of moving parts, so getting staffing insurance for nursing is key to protecting yourself in case of claims. Whether you provide medical personnel on a permanent or temporary basis, these key facts can help you find the right insurance coverage for your needs.

Grocery Stores

How Grocery Stores Can Manage Risk

Managing a grocery store requires outstanding service, great staffing, and comprehensive risk management. In order to protect your grocery store against liability and loss, you need to develop conservative practices and strategic safeguards. Comprehensive commercial insurance should be an integral part of your store’s risk management plan.

Choose the Right Level of Coverage

Grocery liability insurance should be a core part of your store’s operating budget and risk management strategy. It’s important that you structure your insurance to contain adequate coverage levels as well as affordable deductibles. Supplementing your insurance with umbrella coverage can give you an added layer of protection in the event that you have to contend with a sizable claim.

Incorporate Essential Elements of Coverage

While general liability and property insurance are certainly among the most important components of commercial policy for a grocery store, you may also need to consider additional forms of coverage. Workers’ compensation, auto insurance, and liquor liability policies can offer targeted risk management.

Get Expert Assistance

It’s advisable to work with an insurance company that has a longstanding tradition of serving clients in the grocery industry. In addition to providing you with competitive rates, it can impart valuable insight towards building effective risk management plans. An outstanding provider will offer guidance about accident prevention, loss prevention, and workplace safety.

Coverage For Cemeteries

Insurance Coverage For Cemeteries

Operating a cemetery requires careful attention to the condition of the premises. In addition to holding services, cemeteries are a place that many people will visit regularly to remember a loved one. Being responsible for any type of area that is accessed by the general public can give rise to liability concerns, and a cemetery is no exception. Cemetery managers need to safeguard their operations with comprehensive insurance.

Why Is Insurance Necessary for a Cemetery?

Owners or operators of a cemetery could face legal claims in the event that there is an incident on the premises that leads to an injury or damage to a person’s property. Cemeteries often encompass considerable square footage. Even when the grounds are meticulously maintained, any number of accidents could happen. For example, an unsafe condition that causes someone to trip and fall. Cemetery insurance can help address these types of liability claims.

What Benefits Are Available?

Coverage benefits for liability claims may include legal costs, a damages award, or a settlement agreement. In addition, supplementary insurance benefits are available to compensate a cemetery for several types of damage to a cemetery’s premises or its assets:

  •       Damaged equipment
  •       Broken fences
  •       Fallen tree removal

For help with cemetery insurance coverage, it’s advisable to reach out to an insurance company that has experience serving cemetery operators.