Dog Attacks: An Unforeseen Responsibility of a Dog Owner

Dog Attacks: An Unforeseen Responsibility of a Dog Owner

Having a dog can be one of the most rewarding experiences. After all, dogs are known as mans best friend thanks to how they assist, comfort and protect their humans. During a dogs typical lifespan, which on average can be beyond a decade, it is sometimes hard to imagine that a good-natured animal could ever go against its everyday demeanor. However, there are many environmental and situational factors that can cause an animal to act out of character. These can…

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When Professional Liability Insurance Is a Must

When Professional Liability Insurance Is a Must

For being innovative, hard-working and a team player, employers are expected to compensate workers handsomely for contributions, but it is very possible that something important can be overlooked. In addition to pay and benefits, working professionals in various fields are often covered by insurance from employers in the event that there is any type of disagreement that can lead to litigation, but it is possible that this insurance caters more to the protection of the company versus the employee. This…

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Is Your Business Liable for an Employee Driving His Own Vehicle?

Is Your Business Liable for an Employee Driving His Own Vehicle?

If you operate a business and have staff who may drive their own cars to conduct company business such as attending conferences, meeting with clients, or running errands your company could be liable if these employees are involved in an accident. Non owned auto insurance may cover liability for accidents in certain situations. Personal Insurance May Exclude or Limit Coverage An employee’s personal insurance policy may limit its coverage to situations when the vehicle may be used for personal use….

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Protect Your Building Under Construction

Protect Your Building Under Construction

Regardless of the size of your construction outfit, having a builders risk policy protects the building project while under construction. Weather elements, natural disasters and human error can cost the company additional money, cause unexpected problems or extend the project timeline. Builders risk insurance in NY provides coverage needed during building construction. Coverage Options Builders risk covers just the project currently being erected. Protecting the company from risk and liabilities is important, but not all general liability policies extend to…

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Is Professional Liability Insurance Necessary?

Is Professional Liability Insurance Necessary?

When you own a business, you may be wondering how much insurance you really need. Are there any types of insurance that are less necessary? If you’re thinking about skipping the professional liability insurance, you shouldn’t. Not only will you find affordable professional liability insurance in Indianapolis, but also it is necessary and we will tell you why. Responsibility for Mistakes As a professional, clients expect you to perform your services with professionalism and without mistakes. Unfortunately, mistakes do happen…

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Policy Changes and Your Business

Policy Changes and Your Business

Massachusetts workers compensation rates are changing. In March of 2018, the Workers Compensation Rating & Inspection Bureau of Massachusetts issued a letter to all of their members letting them know that rates and Experience Rating would both be altered. How does this impact your business? What Are the Changes? The two most important pieces of information in the WCRIBMA letter ,an overall reduction in rates, and changes in the Experience Rating system ,will affect every company with a payroll in…

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Protecting Your Financial Institution Against Professional Risks

Protecting Your Financial Institution Against Professional Risks

When dealing with large sums of money it is important to take the necessary safeguards to ensure that you are protected against potential risks. With bankers professional liability insurance you receive financial backing in the event of any incidents which result in action from clients or loss of assets. Wrongful Professional Services Acts It’s important to understand what is covered by your bankers professional liability coverage. Claims which can be filed by customers include accidental errors, such as depositing money…

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Protecting Your Staffing Agency from Unseen Exposures

Protecting Your Staffing Agency from Unseen Exposures

Owners and managers of temporary staffing agencies, while sharing similar liability concerns with other types of businesses, still must address many of their own unique exposures. They may experience risk factors that frequently aren’t covered by any standard insurance policies. Typically, an agency retains liability for the actions of any of its employees, however those employees are also primarily supervised at off-site locations by the agency’s clients. This is a prime example of the type of arrangement that can create…

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Surety Bond Basics

Surety Bond Basics

Surety bonds are legally binding contracts between the person providing the service, the person receiving the service, and the entity guaranteeing the service. A surety company in New Jersey issues bonds that work like lines of credit, providing backup just in case the person or entity that purchases the bonds cannot or does not fulfill the terms of the agreement. Three Parties There are three parties involved in a surety bond agreement: Principal – the person who purchases the bond,…

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Four Considerations When Purchasing Extended Reporting Coverage

Four Considerations When Purchasing Extended Reporting Coverage

Extended reporting coverage is also known as tail insurance. It is an add-on policy to a general professional liability insurance plan that provides coverage for situations when an incident occurred during the time period the general policy was in effect, but the related claim wasn’t made until after the policy expired. Note, it does not provide coverage for incidents that happen during the period that the tail policy is in effect. Here are four things to consider when buying extended…

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