Types of Engineering Liability Policies

Some types of engineering firms are more prone to lawsuits than others; however, the possibility of negligence claims exists whenever any type of engineer does work for the public. Here are some engineering liability insurance policies to protect your business.

General Liability

General liability provides the minimum coverage that all businesses should purchase. It protects from claims when members of the public suffer injuries on your property and covers small legal matters such as copyright infringement.

Professional Liability

Engineers who do not carry professional liability leave themselves vulnerable to claims of errors and breaches of contract. It covers human errors and pays settlements if a court finds you guilty of negligence.

Cyber Liability

If you are the victim of a ransomware attack or if your clients’ information is otherwise compromised, cyber liability insurance covers damages and legal fees. Once considered optional coverage, many feel that protection from cybercriminals is now necessary.

Commercial Umbrella

Investing in umbrella insurance is a way to make sure you always have enough coverage. It supplies funds in excess of what your other liability policies normally pay.

The more comprehensive your policy, the fewer claims will affect your business. Talk to your insurance agent about the costs and benefits of including each liability coverage in your package.

3 Things That Set Temporary Staffing Agency Insurance Apart

Like all businesses, temporary staffing agencies are required to maintain certain types of insurance policies to ensure adequate coverage for owners, employees, and customers. Staffing agencies face a unique set of risks, however, that they must assess in order to identify and adopt the most suitable temporary staffing agency insurance policies for their individual needs.

1. More Risks

One thing that sets temporary staffing firms apart is their need to cover more parties than traditional insurance policies typically cover. Firms are responsible for insuring clients––the businesses that turn to them for viable employees––as well as the workers they recruit to pass along to these eager businesses.

2. Unique Needs

No two staffing firms are alike, which means their insurance needs vary drastically. The size of the firm and the type of workers they place can alter the coverages needed in order to avoid legal trouble. Firms placing people in the medical industry, for example, must be well covered, as one wrong move can prove injurious or even fatal.

3. Wider Coverage

Because of the increased insurance needs, staffing firms may come across more coverage options than their fellow businesses. On top of typical policies like general and professional liability, options such as employment practices and employee benefit liability can be equally beneficial.

Temporary staffing agencies make finding a job less stressful for employer and employee alike. To ensure the smoothest experience possible, it’s critical that agencies evaluate their insurance coverage needs and obtain all necessary policies.

Common Reasons Your Lender May Choose To Force-Place Insurance Coverage

Has your lender recently informed you that they’re planning on imposing force placed insurance on one or more of your insurance plans? If so, you may be interested to learn what the purpose of this insurance might be. Take a look at some of the most common reasons lenders may choose to place this specific coverage type.

The Force-Placed Insurance May Be Necessary To Mitigate Common Lending Risks

In situations of high risk to the lender, some lenders may decide to force-place insurance to help guarantee that a minimum amount of coverage is in place. A few of the top reasons lenders have to force-place insurance include mitigating the risks of, or compensating for:

  • Policy cancellation or expiration
  • Policy lapses and gaps
  • Coverage withdrawal by the insurer
  • Natural or structural risks to the insured property
  • Missed homeowner payments

Your Lender May Choose To Offer Replacement Coverage

If you’ve had insurance force-placed, ask your lender whether the policy includes replacement coverage. Depending on the specific policy, the lender may receive:

  • Coverage in the event of property destruction
  • Insurance for whatever amount is owed to the lender
  • Protections for losses due to natural disasters

When it comes to force-placed insurance, understanding your lender’s motivation may help you determine what you need to do to maintain the appropriate insurance coverage. You can review these quick facts to gain some insight.

Understanding Crane and Rigger Insurance Options

Understanding Crane and Rigger Insurance Options

There is a large variety of companies that use, rent, own or operate cranes and rigs. That may be why the coverage insurance offered to the companies has been so diverse. Rather than extending a single policy to cover potential risks associated with crane and rigging machines, riggers liability insurance specialists have gathered a pool of coverages to fulfill a multitude of insurance needs.

Wide Coverage Offered

The liability insurance coverage for cranes and their riggers protects against possible property or equipment loss. Different types of heavy equipment coverage policies include:

  • Boom Truck Operators
  • Heavy Haul Truckers
  • Concrete Truck Haulers
  • Crane Operators
  • Transportation Specialists

Since riggers and crane operators work closely together moving pulleys, cables and winches, it is easy to see why more than one type of policy may be necessary for complete coverage.

Extensive Endorsement Coverage

There are standard policy coverages for riggers and crane operators that include:

  • Physical Damage Coverage
  • Workers’ Compensation
  • General Liability
  • Surety Bonds
  • Rigger Liability

Endorsements should also be considered because of the varied circumstances of work areas and situations. Additional policies can include upset coverage, warehouses, cargo, movers and other equipment.

Best Protection Available

Finding an insurance broker to help you create a complete coverage package has never been easier. Whether your business owns, sells, rents or operates the massive machines, insurance coverage is your best protection against possible liability.

3 Reasons Why Your Business Needs Travel Accident Insurance

In many industries, routine business travel is a necessary part of the job. Since businesses are responsible for anything that happens to employees while they’re on the clock, insurance via business travel accident coverage is one of the best ways to prevent a minor incident from becoming a major hassle.

1. More Opportunities for Accidents

Any time you get in a car or plane, you face the inherent risk of experiencing an accident. Thus, traveling for work greatly increases your chances of becoming injured on the job. This is especially true for those who travel frequently or those who make international trips.

2. Expect the Unexpected

Although transportation issues may be the most obvious threats while traveling, there are countless other risks that can affect travelers. Depending on the location, employees may be exposed to serious illnesses or even acts of violence. It’s also wise to plan for medical emergencies that are unrelated to travel, as they can occur anytime and anyplace.

3. It’s Not Just for Employees

Fortunately, business travel accident insurance can be extended to cover affiliated individuals who aren’t technically employees. This ranges from company board members to tourist groups such as students or missionaries.

Business travel accident coverage exists to help cover the costs of any injuries or illnesses an employee experiences while traveling on business. It helps companies fill in the gaps left by traditional employee insurance policies so they can focus on business without fear.

Understanding the USLH Act

Running a business in a niche industry means taking time to understand what makes for an acceptable insurance plan. If you run a maritime business, for example, you absolutely need to think about the additional steps you must take in order to insure your business to meet industry standards. This is especially the case when it comes to workers’ compensation options. Standard plans will not cover all of the risks of maritime employees, meaning business owners need to look into options like the United States Longshore & Harbor Act.

Know the Basics

The USL&H Jones Act is a type of insurance plan meant to fill the workers’ compensation gaps created in maritime businesses. Since standard plans don’t cover certain risks, USL&H helps to ensure your employees are always protected. What’s more, federal regulations dictate that certain businesses are required to have this additional coverage. The more you understand about the regulations, the easier it will be to make the final decisions for your business. Other areas to focus on can include:

  • D&O coverage
  • E&O policy options
  • PWC rental coverage

Learn More About Your Options

There are several areas to consider when it comes to insuring your maritime business. As long as you dedicate time to understanding USL&H options, you will be able to find the best possible policy to meet your needs.

3 Types of Insurance Needed by All Solar Energy Contractors

Solar energy contractors face significant risks when performing their work. Employees can easily be injured while using scaffolding or traversing roofs. Moreover, even though most contractors exercise caution during installation, third party property damage and injuries can also occur. These incidents can lead to costly lawsuits which can result in bankruptcy. Investing in insurance coverage to mitigate these risks is essential.

General Liability

As solar energy professionals often perform installations in buildings that are already occupied, the risk for third party property damage or bodily injury is high. General liability insurance covers settlements, judgments and legal fees if a suit is brought against a contractor.

Workers’ Compensation

Laws regarding workers compensation insurance vary by state. Given the dangers faced by solar panel installers, however, the energy contractor insurance toolkit should always include workers compensation to pay for any injuries sustained by employees on the job.

Professional Liability

Solar energy contractors offer an important service to their clients. Professional liability policies protect them from claims of errors or omissions in the design, advice or engineering work they provide for their customers.

The job of installing solar energy systems comes with many liabilities. Lawsuits can cause irreparable financial damage to businesses carrying out these services.  An insurance expert can ensure that they are protected against any eventuality.

Find the Best Insurance for the Shipping Industry

Shipping is one of the most important industries in the modern day and age. From consumers ordering everything they need in the internet to manufacturers requiring materials faster and in higher volume, those operating shipping businesses need to take extra caution when meeting rising demands. One excellent way to protect your company from the potential challenges ahead, you absolutely want to consider your options with insurance. Review these tips to get started.

Assess the Common Risks

Your first step to finding exceptional coverage is to assess the risks associated with shipping. Insurance is meant to reflect the specific demands of your industry. This means that you will find appropriate coverage only by looking at the risks you are likely to encounter. Shipping cargo comes with a number of inherent risks that aren’t present in other industries. What’s more, shipping via trucks will require different policy options than cargo being sent on a vessel across the sea. Other major areas to think about with your insurance coverage include:

  • Coverage for directors and officers
  • Workers’ compensation for all employees
  • Extra protection for goods being shipped

Understand the Basics

There are a number of important points to take into consideration when it comes to finding the best insurance for your business. Review the risks of the shipping industry to gain more perspective on what option is best for your needs.

Offering Group Life Benefits To Employees

Employers face a stiff job market as the economy reopens after the COVID pandemic, and being able to provide competitive benefits will become more and more important as the competition for labor increases. You can get ahead of the game by augmenting your health insurance and other benefit coverage options with group life policies for employees. All it takes is a quick quote from an agent who sells group life benefits in Ohio.

Why Offer Life Insurance To Employees?

Health and dental coverage protect your employees and help them protect their families, and life insurance is no different. When employees have access to more affordable insurance options, they have the peace of mind that comes with knowing their loved ones won’t face financial hardship if something happens to them. If you provide basic coverage as a benefit of employment, it can be a big competitive edge in recruitment and retention.

Get a Quote for Your Business Today

Like other group coverage options, life insurance for employers and employees varies a lot in price. The larger your company, the less expensive group plans tend to be when compared to smaller companies with the same risk profile, but the risk of mortality involved in your line of business also plays a factor, as does the baseline health of insured employees. To learn more about costs for your company, you need a quote from someone who offers group life benefits in Ohio.

The Benefits of Getting Brewery Liquor Liability Coverage

Have you ever wondered what your brewery liabilities are regarding the sale, consumption and aftereffects of liquor? If you run a brewery, having liquor liability coverage may prove essential in the event of an accident or a lawsuit. Take a look at some of the benefits this coverage could provide your business.

Your Brewery Could Enjoy Additional Coverage Beyond General Liability Policy Standards

Although your brewery might already have a general liability insurance policy in place, liquor liability provides additional coverage that could prove immensely useful. For instance, a liquor-specific policy could protect your business from:

  • Damage resulting from intoxicated individuals in your establishment
  • Alcohol mistakenly given to underage patrons
  • Violations of local laws and regulations regarding liquor sales
  • Legal issues involving liquor licenses

Numerous Types of Liquor-Related Claims May Be Included in Your Coverage

Typical liquor liability coverage offers protections against several specific types of claims. These protections could include, but are not limited to:

  • Liquor liability lawsuit defense costs
  • Assault and battery coverage
  • Mental injury coverage in cases of suits involving claims of stress, psychological problems and other types of mental issues
  • Occurrence coverage for injuries

In order to protect your business from several common brewery liabilities, it’s important to have thorough liquor liability coverage in place. Review these potential benefits to help you decide whether your brewery could use this additional coverage.