4 Types of Financial Liability Policies

All businesses need to carry some type of liability insurance. Certain liability policies, such as that concerning employment practices, are fairly standard with any kind of business. Most coverage, however, is industry specific and should be provided by a carrier who understands your specific type of business. If you are seeking insurance for financial institutions, you will probably need policies that provide employment practices liability (EPL) as well as directors & officers (D&O) liability, bankers professional liability (BPL) and errors & omissions (E&O).

EPL insurance provides coverage against claims of wrongful termination, discrimination, harassment and retaliation. It covers you in case of a lawsuit brought against your institution. D&O liability insurance protects you in policy-related disputes. This can include issues with shareholders, failure to establish or properly enact a corporate policy or failure to comply with the guidelines of the Securities and Exchange Commission. BPL insurance for financial institutions covers mistakes such as misrepresentation of services or failure to disclose the risks involved in a customers investments, whereas E&O coverage deals with instances where accounts have been mishandled through bad sales tactics, discrimination or omission of vital information. Both BPL and E&O cover the costs of legal fees and any settlement that is owed.

Proper liability coverage is necessary to protect the assets of your financial institution. It is important to make sure you have the right policies to meet your specific needs.

Reducing Exposures to Cyber Criminals

Because so many businesses have fallen prey to cyber crimes, owners are now highly aware of the risks they face for the threat of cyber breaches. A business storing private or confidential information on their servers is the victim of a hack almost daily. While we see smartphones and the ability to easily access Wi-Fi as a huge plus, it does sometimes come at a cost.


That same easy access to information has made companies a prime target to hackers wanting to invade company databases and disrupt businesses both large and small. Cyber liability is a very serious and costly issue, one that can only be remedied by investing in cyber risk insurance in Indiana.


Recognize potential exposures within your organization


The time is now to take precautions to avoid being infiltrated, both from outside forces as well as within. This new technology makes you more susceptible to attacks by hackers, often because employees are careless with vital online documents. With so many companies relying on wireless and mobile communication for their business, cyber crime continues to be a serious threat.


Protecting the confidentiality of emails one essential way of thwarting cyber attacks. Never allow staff to share passwords, and whenever checking email, make sure that no one is attempting to steal login information. In times when someone working for you uses public kiosks, make sure that they are aware of the fact that the kiosk may be infected with malware that records keystrokes.


Choose carefully when processing online banking transactions or purchases over a wireless network in order to avoid having account information or credit card data compromised. While at work, have your IT team develop a system with checks and balances to ensure all large transactions are safe from the possibility of intrusion by cyber hackers.


Finally, make sure workers are instructed to only log into a legitimately sponsored network. Turning off the Bluetooth feature, when not in use, makes it more difficult for hackers to access laptops, tablets, and mobile phones. With the constant use of online banking, a company’s business assets can easily be the targeted by knowledgeable cyber criminals.


Cyber risk insurance in Indiana can aid you when a cyber breach occurs, but adding a few extra security measures can help you avoid a costly breach from occurring in the first place.


The Basics of Workers' Compensation

Workers Compensation policies are designed to protect employees from losses suffered when they are injured on the job. An important part of any business supply insurance package, workers compensation covers lost wages as well as medical and rehabilitation bills, as long as everything is documented properly and treatment plans are followed.

As soon as an injury occurs, the employee should report the injury to the employer. This is the first vital step in receiving monetary compensation for the injury. The employee must show proof from the doctor that the injury prevents him or her from doing the job as assigned. The employer or business supply insurance provider can require an independent medical exam (IME) as a second opinion to confirm the diagnosis received from the employees doctor. After the diagnosis and treatment plans are confirmed, the employee is eligible for weekly compensation, generally based on his or her average weekly wage. If, however, the employee fails to follow the doctors recommendations or does not go through with the treatment plan, he or she can lose workers compensation benefits.

Workers compensation can be employees saving grace when an on-the-job accident occurs. As long as the injury is reported in a timely manner and all instructions from the insurance company and the employee’s physician are followed, this policy can give him or her time to recover without having to worry about living expenses or medical bills.

Is Liability Insurance Worth the Expense?

You have spent years in school trying to finish your degree so you can start your occupation helping others. Now, on top of paying off student loans, you have to think about NSO liability insurance. Is it worth the extra expense?

Liability insurance is intended to help protect you from a mistake or lawsuit that could cost you your business or livelihood. Whether you work at an adult care facility, home care service, spa, or any other medical facility, there are risks associated with the job. Unfortunately, too many people seem to be looking for reasons to be dissatisfied with the medical care they receive and choose to sue because of it. Liability insurance can help protect you from these incidents and the cost of the policy is generally much lower than the cost of a lawsuit.

NSO insurance providers may offer specialized insurance plans that are made just for you and your business. They have analyzed risks associated with different jobs and offer policies that cover only those risks that are greatest for you and your business. This can lower costs and improve coverage.

While NSO liability insurance may seem like an extra expense, it only takes one law suit to make the expense worth it. Your business is worth protecting.

Injuries Happen Even in the Safest of Workplaces

Accidents happen, even in the seemingly safest of workplaces. Whether you work in hazardous construction zones or comparatively mild office spaces, theres always room for error. When your employees get injured on the job, you can be held responsible for their medical bills, lost income, or other injury-related expenses. A good workmans comp insurance program can protect both your company and your employees.

Injuries Are Expensive

Depending on the severity of the injury, a worker injured on the job can accrue thousands in medical bills and other expenses which, without insurance, have to come out of the company pocket. Paying out restitution from company funds can be detrimental to both your company and your other employees, as that means less money to pay salaries and invest in new products. With workmans comp insurance, however, a small monthly premium takes the place of these lump payouts. This investment means that your insurance company handles the payout to your worker, ensuring that they get the appropriate payments on time, so you can focus your companys spending where its really needed.

In a small, relatively safe workspace, it may not seem important, but workmans comp insurance is an important investment in any work environment. It protects both your employees and your company in the event of even the smallest workplace accidents.

Protect Your Company With Workers Compensation Insurance

Furniture dealers insurance policies have to cover a range of areas from property to liability. One area of insurance that’s often minimized is workers compensation insurance. Most companies assume they cannot shop around for their worker’s compensation insurance, but that’s not true. Businesses are required to carry this kind of insurance, but they are not mandated to purchase it from a particular insurance agency.

Shop Around to Ensure the Best Coverage

By shopping around for your worker’s compensation coverage, your company could potentially find significant savings in premium costs and the amount of coverage offered. It’s in your best interest to contact an insurance professional whose specialty includes furniture dealers. Their expertise in your industry can help ensure your worker’s compensation policy, as well as your other furniture dealers insurance policies, are sufficient to cover your company’s needs.

Professional Help Ensures You’re Properly Covered

Due to the size and bulkiness of your inventory, as a furniture dealer, you face the possibility of workers compensation claims resulting from your businesses daily operations. Even with regularly practiced safety protocols, accidents happen, and you have to be prepared to deal with them. By sitting down with a professional insurance representative who specializes in furniture dealers insurance policies, you ensure your company’s protected from the lawsuits and other damages that can result from even just one employee accident.

4 Popular Insurance Plans for Nightclubs

Purchasing multiple insurance plans lowers the business owners risk and closes possible loopholes in nightclubs insurance policies. General liability insurance is an umbrella term that can contain multiple plans within its basic coverage. Details and range of general liability insurance vary according to company, but this is generally a cost-effective and useful level of basic protection. If the nightclub is going to be serving prepared food or meals, products and completed operations insurance might also be useful. This plan protects from claims of food poisoning and other related issues that might occur after the merchandise has been consumed or left the venue. Even after they have finished their meal and paid their bill, customers can still be the owners responsibility.

A liquor liability insurance plan is a must for any nightclub serving alcohol. Alcohol-related claims and lawsuits can often be very sensitive matters involving serious injury or worse. Liquor liability can provide claims services to help unwind incidents that may be complicated or fraudulent. Last, assault and battery insurance plans might cover patron-on-patron violence or violence involving employees (or both). This type of coverage is useful if dealing with unruly or intoxicated patrons.

The amount of necessary coverage varies, but there are a variety of effective nightclubs insurance plans to keep ones business and investment safe.