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Alcohol-Related Liability

Protecting Yourself From Alcohol-Related Liability

If patrons consume alcohol on your business’ premises, it’s important that you have good liquor liability insurance. This coverage, which comes in two main forms, can help protect you from liability issues that may occur in situations where alcohol is present.

Who Needs Coverage?

You may think that if your business doesn’t sell or serve alcohol that you don’t need liability protection. However, if your business allows patrons to consume alcohol on the premises, even if you don’t provide it, you’ll want to have protection.

Liquor Liability

The first type of liquor liability coverage is for businesses that sell or serve alcohol themselves, such as restaurants or bars. It can cover legal expenses resulting from injury or  caused by an intoxicated person on the premises. 

Host Liquor Liability

Host liquor liability insurance is ideal for businesses like venues or restaurants that do not serve alcohol themselves but allow guests to bring it onto the premises. It covers many of the same expenses as standard liquor liability coverage.

If alcohol is consumed on your company’s premises, whether or not you sell it yourself, you need to have good liquor liability insurance. This ensures that you are protected in case of accident or injury relating to the consumption of alcohol.

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professional liability insurance

Professional Liability Insurance for PEOs

Professional employer organizations are in the business of being the boss, and are usually good at what they do. With authority comes responsibility, however, and the need for PEO professional liability insurance is substantial. Here is an explanation of what PEOs do and the risks they face.

What PEOs Do

A PEO partners with companies to relieve them of leadership responsibilities associated with managing personnel. As co-employers, they provide the following services:

Risks PEOs Face

Running a PEO encompasses all the financial risks associated with any business, such as having members of the general public sue for personal injury or copyright infringement. Besides these, a PEO also assumes risk from its clients, including liability for the actions of their co-employees.

What Professional Liability Covers

Professional liability protects a PEO from claims that it made mistakes causing a client to lose money. Examples of potential claims include the following:

  • Giving bad advice
  • Neglecting to fulfill contractual agreement
  • Misrepresenting employee benefits

Professional liability insurance protects PEOs from claims that occur as it fulfills its duties of managing another company’s human resources. Whether or not the claims are true, a good policy can pay to defend a PEO’s reputation.

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Teacher Liability Insurance

What You Should Know About Teacher Liability Insurance

Defending yourself from a lawsuit, even if unfounded, can be costly. For educators, teacher liability insurance will protect your assets if you are sued for an incident related to your job duties.

Protection Offered

Even if you are found not to be at fault, lawsuits can be costly. Liability insurance covers the cost of attorney fees. If you are found liable, it also covers the judgments against you.

Policy Types

Policies can be purchased by an entity such as a school district. This type of insurance covers employees, volunteers, board members and the like. Individual policies are often an added benefit included with membership in a professional educators organization.

Covered Exposures

There are many potential exposures for an educator. Teacher liability coverage protects you against classroom-related allegations such as failure to educate or providing inappropriate instruction. It can also protect you should a student be injured while under your care. Liability insurance is also important for administrators and school board members who may find themselves exposed to lawsuits related to:

  • Discrimination or accusation of violating a student’s civil rights
  • Suspension or expulsion of student
  • Employment practices such as hiring an unqualified person

A teacher liability insurance policy helps protect you and your assets from the risks related to your profession.

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Boat Insurance

The Basics of Boat Insurance

When you choose an insurance policy, you decide how much coverage you need and what types fit your unique requirements. The best boat insurance covers two primary risk areas, physical damage, and liability.

What Does Boat Insurance Cover?

Many variables affect the compensation you receive for a claim, such as your deductible amount, limits and replacement terms. Your policy may cover the following:

  • Comprehensive: This protects you if someone steals, damages or vandalizes your vessel.
  • Property liability:This covers the costs of repairs for damage you cause to other vessels, docks or buildings.
  • Collision coverage: This helps pay for the cost of replacing or repairing your ship in the event of a crash.
  • Bodily injury: If you injure a person in an accident involving your boat, this protection mitigates the cost of legal expenses, lost income and medical bills.
  • Additional options: There are various extensions available to include in your policy, depending on your needs. You can add protections to cover accidents caused by uninsured individuals.

How Much Coverage Do You Need?

The amount of insurance you obtain for your vessel depends on its size, age and value. Consider how you use your watercraft, as that will affect the type of policies you require. For instance, fast speed boats should obtain more liability.

To find the best boat insurance, contact an experienced agency that can help you choose the policy you need to ensure peace of mind before you set sail.

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Liability Insurance

What Does Liability Insurance Cover for Water Companies?

No matter your industry, some form of liability insurance is necessary to protect your company. While most businesses start with general coverage, almost all of them benefit from a tailored policy that includes specific language covering common claim situations the client faces. Water treatment and supply companies are no different. So what does liability insurance for water companies cover? In addition to general liability coverage, it has public and professional liability portions tailored to the realities of your business’s role in the industry. Experienced agents can quote for practically any water-related business, whether the company is treating water, making treatment chemicals, working with boilers, or in water testing.

Hazardous Materials Coverage

Water companies are among the industries that need to invest seriously in pollution insurance, especially those that treat wastewater. That’s why a complete liability package has to include pollution provisions, as well as options for excess liability coverage that can be applied to any category of liability in the policy. A complete policy will also be built around your business assets and liabilities related to them, so it may include property insurance, commercial auto, cybercrime coverage, or other individualized provisions to make sure you are comprehensively covered. To learn more about what your company needs, schedule an insurance review with an agent who has experience in this industry. Comprehensive liability coverage is easier to manage and usually more cost-effective than seeking out individual policies for different kinds of liability insurance.

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Staffing Company Employees

Protecting Your Staffing Company Employees

The staffing industry is one of the fastest growing niches in the B2B marketplace, and it’s no surprise. Screening applicants and seeking out talent for niche skill sets can be expensive, so many companies outsource the process to labor providers who make it the point of their businesses. When you provide the staff to other companies, though, you need workers compensation for staffing companies that’s been priced to cover you in every state and country where you need a policy. That kind of flexibility is rare, but with the right search you can find a provider that fits the bill.

Unique Liability, Unique Policies

When your staff works at someone else’s job site, you share some liabilities with the client when employees get hurt. As the employer, you are still responsible for covering worker protection policies, but you may share some of that liability depending on the nature of the accident and the determination of negligence when the accident is investigated. This makes your risk profile different from employers whose staff works in the company’s facilities, and your insurance should reflect that. When you work with providers who are used to the unique needs of staffing companies, you can get policies written to reflect these shared risks, making them more cost effective for the coverage you receive.

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Lender Placed Insurance Coverage

Lender Placed Insurance Coverage After Foreclosure

Defaulting on mortgage payments and entering foreclosure is a devastating experience for homeowners. This unfortunate situation also can create financial hardship for lenders, who risk a loss of credit when their properties undergo a lapse in insurance. Having a lender placed insurance coverage policy in place prevents this from happening.

Benefits

Lender placed insurance, sometimes called forced place insurance, avoids some of the many legal complications that go along with foreclosure. Here are some of the other benefits of this type of policy:

  • Foreclosures eligible for lower rates
  • Available to investors or lenders
  • Multiple properties covered under same policy
  • Policy usually maintained until cancellation
  • Prorated for time period coverage is necessary

Coverage

Besides standard home insurance, more specialized policies are available from some insurance providers. Depending on the state where you live, these coverages can include the following:

Properties

Lender placed insurance is available for more than just single-family homes. It is regularly applied to condominiums, apartments, and commercial properties. If you have leased the foreclosed residence to others, insurance can protect you from loss of rental income.

Foreclosures can be a lucrative source of real estate and mortgage capital. Don’t let lapses in insurance interfere with your business; instead, protect your investment with lender placed insurance coverage for foreclosed properties.

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Maritime Insurance

A Beginner’s Guide to Maritime Insurance

Marine insurance, also known as maritime insurance coverage, is an insurance policy that protects anything related to vessel transport. This is essential coverage for any company or individual transporting goods over water. In the event of an accident or weather-related incident, any losses to property can be claimed.

What’s Included

Maritime insurance specifically covers property. This means that any ships, vessels and goods that are lost can be compensated for in a claim. Most coverages can be tailored to a company’s specific needs depending on what they usually transport and where they go.

How It’s Different From Maritime Employer’s Liability Coverage

Employer’s liability does not cover property. Instead, it focuses on any employees or individuals harmed in an accident. Maritime jobs can come with many hazards, and coverage can prevent a company from paying out enormous claims if someone is hurt. It also covers employees who are on another vessel outside of the company’s fleet.

Why Coverage Is Essential

Any employer working in commercial sea industries should have general maritime insurance coverage and employer’s liability coverage. This ensures that all property is insured from damage and all employees feel safe and covered in case of an injury. You could lose many investments by failing to be insured, so don’t wait to get it.

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Commercial Insurance

What Does Commercial Insurance Do To Protect Your Business?

As a business owner, you have an obligation to protect your company from anything that could threaten its financial future. Knowing the basics of commercial insurance can help you evaluate which types of coverage your business may require.

Understanding Policy Types: The Basics of Commercial Insurance

According to Allegiant Insurance Services, there are four main types of essential insurance coverage for small businesses:

1. Liability Insurance

Liability insurance shields your business from legal claims of negligence, harm or other damages allegedly caused by your products or services. It also provides protection for claims of injuries incurred on your property.

2. Workers Comp Insurance

If your business has employees, you will likely need workers comp coverage. Workers comp provides for the medical expenses of employees injured on the job or compensates families for the work-related loss of a loved one.

3. Property Insurance

Safeguard your facilities and inventory against theft, fire or other catastrophes. Property insurance covers everything from office equipment to raw production materials.

4. Business Auto Insurance

Whether you have one company car or a whole fleet of trucks, business auto insurance is indispensable. This type of coverage addresses personal injury and property damage claims that may result if one of your company’s vehicles is in an accident.

Finding the Right Commercial Insurance

Once you understand the basics of commercial insurance, you can work with a qualified insurance agent to get customized coverage. Your agent can bundle several types of insurance into a business owner’s policy that suits your company’s needs.