insurance Archives - Tshombe The Poet

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Understanding General Liability Insurance

If you own a business, you know how important liability coverage can be for protecting your legal responsibilities. However, before you purchase any insurance program you should be sure you understand the general liability definition and what this policy can do for you.

What General Liability Is

General liability is a comprehensive insurance policy that offers protection against claims from several parties, including employees, business owners, vendors and the public. In many cases, the state government requires businesses to have this type of insurance in order to operate legally. The policy itself can safeguard your business against the following types of claims:

Negligence
Workplace injuries
Faulty products

When you have a general liability insurance policy, you can make sure medical and legal fees are covered so you do not have to pay these costs out of pocket. In short, this insurance plan protects your business by providing coverage against claims from all possible parties and even covers the costs associated with settlements. No matter what type of business you have, this policy is good to have for added security.

Protect Your Business With General Liability

Owning a business can be risky, but having an insurance policy that protects you can provide peace of mind. The only problem is choosing the right plan, but understanding the difference between policies can make things easier. Now that you know the general liability definition, you can choose which policy is right for you.

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Creating a Solid Foundation for Los Angeles Families

While most people do quite well in adapting to life’s curveballs, some look back at their past actions wishing they could have done things differently to create a potentially better outcome. Instead of learning through trial and error, it can be helpful to learn from others experiences, especially those in similar situations who have forged the path. For young families in Los Angeles, there are many things that they can do today that can lay the groundwork for a successful future. Whether it’s building credit, purchasing their first home or finding the best family insurance Los Angeles families can utilize the best local services to accomplish those goals.

Setting Things Up for Success

While some may argue that some things are better done late than never, starting certain habits early can generate even more rewards in the future. Some things to think about doing as early as possible include the following:

Avoiding debt by spending within your means

Creating a budget with savings goals in mind and sticking to it
Investing in accounts, such as a retirement plan, that can earn compound interest
Remembering that when searching for local family insurance Los Angeles agents can be a good first resource

If there is an opportunity to get started with these goals today, it can be a wise decision to do so. After all, putting in the work early on can mean a more secure future that can be more easily enjoyed.

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Comprehensive Coverage for Staffing Agencies

Some businesses rely on temporary staffing agencies when they are short on staff during holiday seasons or when work is particularly heavy. However, providing staffing services means you face legal risks, which is why temporary staffing insurance is so important.

The Coverage You Need

Every business needs some kind of insurance, but staffing agencies face unique risks. Oftentimes, these firms can find themselves in the crosshairs of both worker and company squabbles. This can escalate from small debates to legal battles, but the right kind of coverage can protect your staffing business and help in the event of a lawsuit by providing the following types of coverage:

Property insurance

Auto insurance

Professional liability

General liability

Workers’ compensation

Managing the relationship between workers and companies can be stressful and cause legal difficulties, which is why temporary staffing insurance is so valuable to your business. Being covered means you can prepare for the worst case scenario while providing your services to companies who need it most and mitigate risks at the same time.

Keeping Your Company Safe

Your business provides dependable staffing solutions to companies that need to fill in an employee shortage. Temporary staffing insurance can protect your business when disputes between workers and companies arise, so you can focus on providing your services and not on a legal battle.

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Exposures and Risks in the Trucking Industry

Trucking businesses provide a very valuable service. Virtually anything items that require transportation on land, require them. Even with the high demand for these types of businesses and the profits to be made from running one, it can be unnerving to realize how damaging a claim can be. In today’s trucking world, having coverage is not simply an added precaution: it’s a necessity.

Costly Mishaps

While the best-case scenario involves a truck and its contents getting safely and uneventfully to its location, the truth is that many challenges await each trip. While many factors might be out of a driver’s control, such as traffic, weather, natural disasters and crime, many others can be attributed to human error alone such as the following:

A driver that is inexperienced or inadequately trained
Mental or physical unpreparedness due to fatigue, stress or an overwhelming workload
Lack of attention to detail and oversight on the job or in planning
Misunderstanding contract terms

When you combine these with all the possible exposures that can occur in storage, transportation and delivery, it becomes even more apparent why protections such as insurance are necessary. Before you or your next driver load up and take on the open road, it’s important to remember how adequate training and insurance should be non-negotiable in today’s trucking industry.

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Secure Your Business With Strong Liability Coverage

When running a business, it is crucial to protect every component from the risks of every day and the litigation of unhappy third-parties. One of these business aspects is your management. It is not uncommon these days for a lawsuit to the board of directors, executives and the company itself. This is why it vital to invest in the right kinds of management liability. Working with a management liability insurance specialist can get you the types of coverage you need to build a strong defense.

What Exactly is Management Liability?

Management liability is the title for the types of insurance that protect those at higher levels of the company. This usually includes directors, managers and officers. This coverage helps you handle the financial burden involved with lawsuits made against these members of management and there are few individual kinds.

Directors and Officers Liability

D&O handles the litigation claiming directors and officers made a negligent decision or acted in a wrongful way. This can include decisions that resulted in the financial loss of a third-party.

Employment Practices Liability

This type of liability protects companies from lawsuits brought forth by employees. Litigation can include alleged sexual harassment, discrimination, wrongful termination, failure to employ and emotional distress.

If you want to learn more about this important coverage, consult a management liability insurance specialist today to get started.

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How To Get the Most out of Hiring Individual Contractors

Using the services of individual contractors is a popular way for many businesses to get specific jobs done without providing many of the entitlements awarded to traditional full-time employees. These types of workers contribute to the overall mission of an organization though they often have irregular hours and limited contract terms. However, because of many legal and ethical issues, it may be important to ensure that individual contractors and other types of employees have coverage such as occupational accident insurance.

Benefits

Supplementing your employees with individual contractors can be beneficial in many ways. While there are admittedly some cons to hiring these workers, for example, not having ownership of intellectual property, many believe the benefits more than make up for it. Some of the advantages of going this route include the following:

Flexibility in staffing

Reduced wages compared to paying full-time, hourly employees

Less office space required

No obligation to provide employer benefits

Providing Protections

Although it may not necessarily be required, putting protections in place such as occupational accident insurance may be necessary in order to avoid potentially costly litigation. Even though these workers are not traditional employees, accident, injury or death while on the job resulting from work performed for your business or on your property can be devastating. Luckily this type of coverage is often significantly more affordable, making it an even more practical safeguard.

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insurance
March 14, 2013
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Insurance For The Farmers Market

Farmers markets are well known for their fresh and local produce that vendors feel good for selling and buyers feel even better about purchasing. Unfortunately, not everything that comes out of a farmers market is for the best. Food allergies and foodborne illnesses have made it so that farmers and vendors have to protect themselves as well as their business. One of the best ways to do that is to have food insurance. If you’re thinking about being a vendor at your first farmers market, be aware that you may be required to have product liability insurance not only to protect yourself, but to protect the location and the rest of the farmers market as well.

Small Potatoes

Many farmers feel that they’re already small enough that they can’t afford food insurance. While it may cost them money to pay for insurancemonth-to-month, it’s better than suddenly having their business completely wiped out by a single lawsuit. Getting enough farmers to participate in a farmers market can be challenging enough, but requiring each of them to have liability insurance only adds to the complication.

Accidents Happen

If you’re new to farming and plan on selling what you grow, there’s a chance that you can use the wrong kind of compost or accidentally sell fruits and vegetables that are contaminated. It can cost as much as $5,000 to $6,000 a day to remain in critical care after suffering from a foodborne illness. Imagine how much of a lawsuit that could be.

Before you start looking for food markets to participate in, make sure that you first look for a good food insurance liability plan.

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insurance
February 12, 2013
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The Importance Of Obtaining Staffing Agency Insurance

Staffing agencies are unique in their insurance needs, and because of the dynamic nature of their industry it has been problematic to obtain insurance in the past. In fact, not more than 50 years ago it was downright impossible to have an insurance carrier grant a policy to a staffing agency. The staffing agencies had no specific policies available to them largely because insurance companies didn’t understand their industry, and could not write policies to provide them with the coverage they needed. Today, however, both the staffing agency and the insurance industries understand with more clarity what needs are to be addressed, making employment agency insurance policies more widely available.

What A Staffing Agency Policy Might Cover

As with a standard homeowners’ policy, a staffing agency policy can offer standard insurance specific to the staffing industry, but additional endorsements can be purchased to increase the insurance coverage that a company may want to have. The following examples are common types of employment agency insurance policies that can protect staffing companies:

Abusive Acts Liability
Crime
Cyber Liability
Direct Hire
Directors & Officers
Employee Benefits Liability
Fiduciary Liability
General Liability
Hired and Non-Owned Auto Liability
Office Package
Owned Auto Liability
Professional Liability
Property and Inland Marine
Stop Gap Liability
Umbrella Liability
Worker’s Compensation

Insurance Companies and Staffing Agencies Working Together

The only way industry specific insurance could become available to staffing agencies was through educating insurance companies about staffing agencies, and educating staffing agencies about insurance needs. Fortunately today there is coverage available for employment agencies that are in need of customized policies.

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insurance
January 22, 2013
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Protect Your Company From Cyber Crime

The prevalence of cyber crime is on the rise, with about one in three companies reporting that they have been victims of this type of fraud. A 2011 report by PricewaterhouseCoopers (PwC) indicated that about 34 percent of businesses have experienced fraud as a result of cyber crime, accounting for billions of dollars in losses overall, and catching up with the other most common business crimes of accounting fraud and corruption.

If you don’t think your small business stores the kind of data cyber thieves may want to steal, think again. Because of its prevalence, many businesses are turning to solutions like cyber crime insurance in Orlando to protect their information. Here are some tips to keep your business safe.

Educate Employees

One of the most common ways people breach a company’s system is through employee negligence—leaving a laptop with confidential consumer information in a taxicab or café, having easy-to-crack passwords, and more. Have regular trainings with employees to increase their awareness and ability to thwart cyber crime.

Update Software

Keeping your security software updated is another great way to protect your business. If you don’t have a dedicated IT department, considering hiring a professional firm to install and maintain a security system with anti-virus, anti-phishing, anti-spyware, and anti-malware protection.

Talk to an Insurance Agent

Getting good cyber crime insurance in Orlando can be a great step toward protecting your business from the threat of liability and exposure in case your company is a victim. There are a wide variety of plans available to fit the needs of many different businesses, and a good insurance agent can walk you through all the options to choose the one that works for your company.

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insurance
January 4, 2013
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How To Get The California Campground Coverage That’s Right For You

If you are an owner of an outdoor recreation facility, then you know there are some risks you’ll have that just don’t affect other businesses. When looking for campground insurance in California, knowing what to look for will help you ensure the coverage you get is right for your needs.

Outdoor Recreation Specific Coverage

To begin with, you will want to look at insurance providers who offer policies that deal specifically with outdoor recreation. Some companies may offer standardized types of coverage, while others may have more of a cafeteria-style approach that allows you to pick and choose what works for you. Just make sure the policy you choose covers the following areas.

Activities: If your campground has designated areas for, say, riding motocross bikes, then you’ll want to have a policy that covers this. The same goes for horseback riding, hiking, water sports, etc.
Weather: Is the area around your campground prone to fires in the summer or mudslides in spring? Get campground insurance in California that addresses specific weather concerns so you don’t have to pay out of pocket should a natural disaster devastate your business.
Specialized facilities or equipment: Renting out paddle boats to lake patrons is a great way to attract guests, but the facilities and equipment necessary to do so may be targeted by vandalism or theft, or it may be subject to certain kinds of damage, so get coverage that takes this into account.

Getting the Coverage You Need

After you make sure your policy covers your more unique risks, round out the policy with some basic business coverage such as general liability or workers compensation. You insurance agent can help you decide what’s right for you, so get in contact today to get the policy that best addresses your needs.