Tag Archive Liability Insurance

Professional Liability Insurance

Protecting Your Firm with Professional Liability Insurance

Business owners like yourself understand the need for typical insurance plans to protect your operations:

  • General liability, including protections against customer injury and property damage
  • Property coverage for office building and property owned and used by your company
  • Commercial auto for vehicles used for business
  • Workers’ compensation, offering protection for employees injured on the job

Leading an engineering firm, you also need professional liability insurance. Your clients expect you to deliver buildable plans and specifications. If a mistake or oversight in your design causes physical and/or financial loss to a client, you need a plan that protects you from losses due to litigation.

Why Do I Need Professional Liability Insurance?

This professional liability insurance, also known as engineering errors & omissions coverage, gives you the layer of protection that helps you pursue clients and contracts to grow your business. Despite in-house quality control and quality assurance processes, errors and omissions can occur that can result in significant damages. Whether it’s a small mathematical error in a set of design calculations or a note that incorrectly indicates inches instead of feet, a mistake puts your company at risk when operating without E&O coverage.

Do I Really Need E&O Coverage?

The reality is that some clients and business partners require consultants to have a specified amount of professional liability insurance before executing a contract or issuing a notice to proceed. You’re in this business to make money. Don’t disqualify yourself from lucrative contracts by not having E&O protection.

cannabis-dispensary

3 Types of Insurance a Cannabis Dispensary Needs

Although new developments occur in the cannabis industry nearly daily, it is still quite misunderstood in some circles. For this reason, risk management is essential for anybody operating within the industry. Purchasing the correct cannabis insurance coverages is one of the most important methods.

  1. General Liability Insurance

The first policy your cannabis dispensary needs is general liability. You never know what could happen while a customer or employee is on the property. General liability protects you if someone is injured at your dispensary by covering some or all costs related to property damage, personal injury, medical payments, and legal defense.

  1. Product Liability Insurance

Naturally, your cannabis products undergo rigorous testing to ensure safety and quality. However, no system is error-proof, and product liability insurance protects you in case a customer claims one of your products caused him harm or injury. The coverage handles legal fees or settlements outside of court.

  1. Crime Insurance

Like any other business, a cannabis dispensary is at risk of falling victim to a crime. Crime insurance protects you from criminals, whether clients or employees. You can use it to cover inventory replacement or in a number of other situations, depending on the policy’s specifics.

Protect your business to ensure your success. Never open the doors to your cannabis dispensary until you have the proper insurance policies in place. Your agency can help you determine which coverage best meets your needs.

Marine Insurance

Common Provisions in Marina Contracts Boaters Should Know

When you buy a new boat, one thing you need to consider is storage and use. If you don’t have a dock, you may want to look at leasing space at a marina slip. Here are some things to know about marina slip contracts.

Liability Insurance

The insurance firm Merrimac Marine Insurance states that many marinas require liability insurance as part of their slip contracts. A minimum limit may be required for liability coverage. In addition, most marinas require the boat to be registered.

Use Rules

The contract likely has use rules such as boat operability. Some marinas include provisions for the number of times per year the boat must leave the slip. In fact, inoperable boats may not be allowed in some marinas.

Additional Fees

Not everything is likely to be included in the rental price. You may have to pay additional fees or line items as part of the contract not listed as the rental price. There may be fees for late-payments or early cancellation.

Termination Clauses

Most contracts include termination clauses. A common one is that if you fail to follow the rules, the marina can cancel the contract.

Understanding marina slip contracts can ensure you know exactly what you are paying for. The last thing you want is to face a fee you didn’t realize you would pay. A good contract is for the benefit of the marina and boaters.

Moody Insurance

Tips for Safe Winter Riding

For many motorcyclists, the motorcycle is their primary modes of transportation. That means despite the temperatures falling and ice on the road, they are on their bike. In addition to having worldwide motorcycle insurance, these tips can help riders stay safe this winter.

Following Distance

One way to decrease the risk of an accident is to increase the following distance behind other vehicles. Slippery ice, cracks in the road or fresh salt decrease tire traction. Additional distance gives you more time to stop. The insurance firm Moody Insurance states that auto liability insurance is a requirement in most states.

Slick Conditions

Try to avoid riding when the weather turns nasty. Falling snow can quickly accumulate on the road creating slick road conditions. Those colder tires have less traction on an already slick surface. Besides heading home when the weather turns, consider carrying a kit to turn those tires into studded snow tires for added traction.

Proper Gear

A motorcycle doesn’t have the protection of a vehicle. No heater to warm those cold fingers or keep your core from freezing. Because of that, it is essential you wear proper gear when out. Layers are your friend when the temperatures drop but be sure the underlayer wicks away moisture.

Having a policy with worldwide motorcycle insurance is one way to protect yourself this winter. These other tips can help make riding more comfortable and safe.

daniels insurance inc

Staying Safe in the Construction Industry

If you work in the construction industry, you know that you face many risks and dangers on a day-to-day basis. Basic safety precautions are absolutely necessary for this line of work. To keep you and your workers safe on your construction site, follow these guidelines.

Wear the Proper Equipment

Your workers can’t do their jobs effectively if they’re aren’t equipped with Personal Protective Equipment (PPE). Whenever you step onto the construction site, confirm that your workers are wearing the following items:

  • Hard hats
  • Safety goggles
  • Full face shields
  • Gloves
  • Earplugs or earmuffs
  • Respirators

It’s also crucial to take the conditions of your site into account to make sure that your equipment is tailored to them. As seen on www.danielsinsuranceinc.com, the appropriate gear can prevent accidents from occurring and keep your workers protected from various health risks.

Understand the Benefits of Liability Insurance

In addition to recognizing the importance of PPE, it’s vital to consider the benefits of having the right liability insurance. A liability policy can include coverage for customer injury, property damage and slander or libel. Be sure to look into the aspects of your insurance policy to ensure that it caters to the specific needs of your business.

Staying safe in the construction industry is a matter of using the right equipment and having the proper coverage. When you put in the work and preparation that you need to succeed, your business can thrive in many ways.