Professional Liability Insurance for Almost Any Business

Errors and omissions policies are a backbone form of coverage for many professionals, especially those in high trust positions like doctors, lawyers, and financial professionals. They’re hardly the only ones who could benefit from professional liability insurance, though. Most of the time, if a professional is acting as a freelancer or one-person business, some form of E&O coverage for their professional liabilities will wind up being a good idea. From IT contractors to auto repair professionals, each skilled career has its own unique risks associated with professional misjudgment or accidental oversight, and miscellaneous errors and omissions insurance programs exist to provide individualized coverage for those businesses.

Assessing Professional Risks for Yourself

Most of the time, if you aren’t in practice on your own or working freelance, your employer assumes the risk for your professional decisions on behalf of a company. There are some cases where this isn’t true, but largely it is, and as a result many people have very little experience with professional liability coverage. As the workforce becomes more and more dependent with fewer and fewer industries relying on wage labor, that landscape is changing, and diverse E&O programs have become very high-demand. If your current coverage doesn’t include professional liability, now is the time for an insurance review with an eye toward adding the policy. Luckily, there are providers with over a quarter of a century of experience with miscellaneous E&O coverage, so it won’t be hard to find a provider.

Understand the Insurance Needs of Your PEO

Every industry has specific needs when it comes to insurance. When you operate a professional employer organization, or PEO, then you need to take several factors into consideration when selecting an appropriate policy. You cannot simply take out a standard liability policy and assume that it will cover all of your bases. Thankfully, there are a few easy ways to select the best plan for your PEO. Consider these points to get a better idea of your options.

Made To Fit Your Needs

As reported by experts of the industry, PEO insurance should be tailored to the particular needs of the organization. Essentially, there is no “one-size-fits-all” policy that can be adopted. Though more involved in some ways, this requirement does put a heavy emphasis on a business owner’s comprehension of a policy. Assess the risks associated with your company and you will start to see which policy options make the most sense for daily operations. HR duties can get involved and require some unique approaches to insurance. Common considerations include:

Research the Basics

By taking time to look at the unique risks your company faces, it can help you devise a more practical strategy for selecting insurance. Give yourself a chance to consider the basics and it will go a long way to informing your decision.

Adding a Health and Wellness Program to Your Business’ Benefits Package

A program that is intended to promote individuals’ health and wellness is an excellent addition to any company’s benefits package. This type of program can create a healthier and more productive workforce while also making other benefits administration more cost-effective. Ultimately, a programmatic approach to supporting employee wellness can offer your business several distinct advantages.

Reduced Absenteeism

When health and wellness programs result in employees developing healthier lifestyles, they will be less likely to develop a serious medical condition or sustain an injury. Consequently, employees may need to take less time off of work than they would without having utilized the benefits of this type of program.

Enhanced Productivity

A health and wellness program benefits will give employees access to benefits that can improve overall health such as nutritional counseling, smoking cessation support, or a fitness club membership. With better physical and mental health, they can work more productively. Employees will be better able to make their work product match their work ethic, and they’ll be less susceptible to distraction or fatigue.

Wellness programs are a smart and affordable investment in your workforce’s well-being. Your team will genuinely appreciate their company cares about their health, and you’ll promote a positive and productive company culture where employees feel valued as individuals.

A New Law That Will Change Your Marketing

If you’re in marketing, you know that things are constantly changing. Another change on the horizon is the California Consumer Privacy Act that is set to take effect in 2020. What is the CCPA and how does it affect your marketing efforts? Let’s take a look.

What The Law Is

In the past, companies could sell and share consumer data with third parties, but that left consumers open to identity and data theft by cybercriminals. In 2018, voters approved the CCPA that allows them to decide how companies can use their information. For example, consumers can opt-out of information sharing and the law also protects consumers from any discrimination for doing so.

How It Affects Your Business

This law seems like it puts restrictions on your business at first glance. However, you can use it to your advantage, according to https://www.agencytsunami.com/. Be upfront about the changes and let your consumers know that they now have a choice of whether they want their information shared. This makes you seem more trustworthy and reputable. Plus, you can establish a rewards program for consumers that opt-in, which creates more loyal customers and keeps your information sharing legal.

Be Prepared for the Changes

Changes are a part of digital marketing. When your consumers ask you, “What is the CCPA?”, you can be prepared to answer and offer a solution.