As a fiduciary, you bear the responsibility for your clients’ finances. You promise to act in their best interest at all times even if that means losing out on opportunities to increase your commissions. Unfortunately, accidents happen and, when they do, you may be liable for the damages. Fiduciary liability insurance is a simple way to protect your business and your reputation.
What This Coverage Does
Fiduciary liability coverage protects you from having to pay settlement fees, legal fees and attorney fees out of pocket if a client sues your company. This helps you better preserve your budget and makes it possible to keep your company afloat during and after the lawsuit. Without the policy, many businesses find it difficult if not impossible to recover after even a single lawsuit.
What To Look for in a Policy
Remember, your general liability insurance isn’t going to be enough to fully protect your company if you’re in charge of overseeing any type of investment or monetary contributions. Investing in a fiduciary liability insurance policy is the only way to cover your bases.
When shopping for a policy, keep the following in mind:
- The coverage limits
- The reputation of the insurance company
- The premium amount
By being selective and reviewing each insurance policy in detail, you’ll be able to find the right coverage for your company.
Sanitation is an essential part of today’s society. Whether it’s permanent or portable sanitation, making sure the companies who provide these necessary services are protected is beneficial both for the companies and the community. Knowing what kind of sanitation company insurance is available can get your company on the right path to ensuring the safety of yourself, employees, and residents.
The most common form of insurance is general liability. This protects companies from claims or lawsuits over accidents you might be liable for. If someone gets injured on your property or using one of your services, you are protected under this insurance.
This insurance prevents you from paying for any damage that occurs on your property out of pocket. Any weather-related damage can be covered under this type. In some cases, vandalism and theft are also covered under this policy, though you can take out coverage for those specifically. This is a good idea if you have a lot of expensive equipment stored on site.
Workers Compensation Insurance
Workers’ compensation insurance may be legally required in your state. If not, it is still a good idea to get it. In the event of an injury on the job, an employee can get their expenses covered without suing you.
Covering all your bases with the right insurance policies is vital in today’s business. Not having coverage risks financial downfall in the future.
Offering your employees an excellent benefits package will help you recruit and retain an outstanding workforce. Many employees value benefits almost as much as salary, so it’s important to choose benefits that are desirable yet affordable.
Employers with a large number of employees are generally required to offer health insurance, so it’s one of the most essential employee benefits to budget for when you’re building a benefits package. Typically, an employer will pay a percentage of an employee’s coverage costs in a group plan.
In the event that an employee is unable to work due to an illness or injury, disability benefits can compensate them for the time that they need to recover. Short-term disability will address absences that aren’t significant in duration and long-term disability can cover absences that are greater than six months.
Many employers can affordably provide life insurance policies to their workforce. Policies can be for a set amount or they can be equivalent to an employee’s annual salary. The policies will remain in effect for the duration of someone’s employment.
In order to build an attractive benefits package that will fit into your operating budget, you should work with an insurance provider who is experienced in serving businesses in your area.