Protect Your Business With Specialized Coverages

All business owners understand the importance of business insurance. To adequately protect your company, it’s critical to invest in comprehensive and customized coverages to your specific risks and exposures. Even if you have basic coverage, here are some specialty coverages you may want to consider.

Cyber Liability Coverage

A lot of business owners overlook cyber liability coverage. Small businesses may believe that the only ones at risk of a cyber attack are larger businesses. While you may hear about cyber attacks on major corporations, those most vulnerable are small businesses. If you have a client’s personal information stored, you could face lawsuits, reputation loss and other damages if a cybercriminal were to get a hold of that information.

Business Auto Coverage

If you have at least one vehicle that your company uses, you need to have business auto coverage. Many business owners wrongfully believe that their personal auto coverage will also apply to their vehicles. Generally, this isn’t the case. Whether you use the vehicle for work or your employees sometimes use their vehicles for work, you need a business auto policy.

All businesses have their own risks and exposures to consider. To ensure that your company is protected against an array of risks, you need to consider custom coverages and specialty insurance options.

Managing Risk in the Manufacturing Industry

Companies that manufacture goods and materials often carry a great deal of risk exposure in their day-to-day operations. It is important that they take a proactive approach to addressing risk by doing everything within their power to cultivate working environments that emphasize safety.

Make Training Practical

Thorough training initiatives are arguably the foundation of good risk management in manufacturing. The most advanced machinery and the very best personal protective equipment will not be effective in preventing injuries if employees do not perform their work safely. Training initiatives should have practical utility. People should find the process of going through training to be informative and engaging. Most importantly, they need to understand why what they’re learning matters.

Enforce Safety Protocols Consistently

Being just a little lax about following some safety directives may be a slippery slope. It is imperative that companies enforce all of their internal protocols without any type of deviation from set policies. Being consistent reinforces that skipping any safety step is simply unacceptable. Key personnel should have supervisory authority to stop and address unsafe practices in the workplace.

Employees appreciate companies’ efforts to put safety first. When companies in the manufacturing industry exercise their best efforts to mitigate their employees’ risk, they create a positive company culture while also protecting themselves against liability and loss.

Insurance Options for Portable Sanitation Providers

Anyone who attends a public outdoor event depends on your services to have a convenient place to use the restroom. While the portable toilets you provide are valued by your customers, they also come with their own share of risks. No matter what situation you find yourself in, having the right insurance can help you be prepared for it.

General Liability Insurance

This is the most basic form of insurance that all businesses need. Within the sanitation industry, it can help to protect you from liability for various accidents that may occur on-site, such as an injury that someone sustained when using your portable toilet. You can also customize general liability insurance so that it suits your specific needs.

Vandalism Insurance

When you provide portable sanitation services, you know that you have to contend with the possibility of vandalism. Fortunately, many portable sanitation insurance packages include vandalism insurance to address these concerns. The costs associated with vandalism can be high, but the right coverage can save you from paying the price.

Commercial Property Insurance

As seen on, this form of insurance protects the property on which your portable toilets are located. If any of the following situations take place, commercial property insurance can cover the relevant costs:

  • Natural disasters
  • Theft and vandalism
  • Fires
  • Burst pipes

Your portable toilets need to be protected under any circumstances for your business to thrive, and a reliable insurance policy can help.

Insurance for Lawyers and Law Firms

Many lawyers think of malpractice insurance as a necessity they’d rather not spend a lot of time with when they think about it at all. While no one likes to dwell on the need for it or the circumstances that lead to a claim, it’s a vital part of a profession that deals with people at their most emotional and confrontational. It is important to spend some time thinking through coverage, too, because as points out, the costs of malpractice are a lot higher than you first think when you look at the dollar numbers on a policy’s coverage sheet. That’s because there are so many things it covers, things that really go beyond what most people think of when they think of the scope of these policies.

  • Cyber attacks and data breaches
  • Hiring and training issues for firm employees
  • Merger and acquisition disputes

Contending With Escalating Causes

As the cost of coverage continues to rise, it’s vital to remember that the number of claims being filed and the industry’s perceived likelihood of claims both feeds into your quote. If you feel like your policy costs are increasing but you’re not actually at higher risk, though, then it’s time to get a quote and have a conversation. Working with an insurance agent who really understands NSO malpractice insurance is a great way to connect to as many carriers as possible, giving you a chance to get the best rate possible for your next policy renewal.

Protections for Your Staffing Business

When running a staffing agency there are many considerations that need to be made to make sure you are operating efficiently and following all the necessary protocol. When done right, you can secure relationships with businesses who will rely on your agency for providing the talent that you pass along to them. While your business is valuable to organizations that are looking for the right workers to fill their vacancies, things can go become unnecessarily complicated among the parties involved if there are any accidents, mishaps, disagreements and disputes. By contacting an agent that specializes in staffing insurance solutions, you can provide the best service possible with minimal worry.

Support From Staffing Insurance

Depending on the types of contracts you work with, you may need different types of coverage. These issues can arise within the agency itself or at the client’s place of business. Some safeguards that may be in your plan include the following:

Injuries and accidents
Protections for temp workers not qualifying for the same benefits as regular employees
Cyber liability
Property damage
Staffing errors and omissions

Regardless of the types of industries your staffing agency serves, these basic coverages can be very useful for minimizing the potential damages that come along with legal repercussions that often result from these issues. Therefore, staffing insurance solutions are not just added protection but a necessity in many cases.

Having the Protection of Lending Insurance For Banks

As an operator or owner of a banking institution, you are no stranger to risks and exposures associated with running a company of this nature, especially in a business environment with tight regulations. Add to this the fact that banking is and always will be an area of stiff competition to add more customers and expand into new areas, and you can see how difficult things can get.

You must constantly adapt to changing times and technologies in your institution’s operations and services in order to stay ahead of the curve. This also means understanding and recognizing your vulnerability to a wide variety of financial threats. Apart from common concerns, such as slip-and-fall claims, robbery, and employee theft, you must also be aware of the concerns of cyber breaches and the fall out and liabilities associated with these crimes. Lending Insurance for Banks can offer protection for any and all issues related to running a safe and successful operation.

Known and unknown perils to be cautious of

Every day brings new and old concerns for banking institutions nationwide. Your facility can only benefit from a well-rounded insurance program that can both protect your operations and help you manage any costs that may be associated with lawsuits that you may incur. For example, you need to protect your operations from the possibility of a fire that could damage or destroy your institution’s building.

Insurance helps to pay the replacement cost to rebuild the building, including the cost to comply with any ordinances or laws, up to the policy limit. There’s also business income and extra expense to consider. A catastrophic storm could wreak havoc on your location, even causing you to have to close for weeks. Having an all-risk property/business income perils policy helps protect you from the impact of lost revenue. Extra expense coverage allows for mobile operations to be put into place, enabling you to bring operations as close to normal as possible.

You can be hit with a wide range of actions from employees, shareholders, customers, creditors, competitors, government agencies, and other third parties. This can significantly impact your bottom line. Your employees may also be a constant threat to your institution’s bottom line through fraud, extortion, and other criminal activities. To go without a well thought out banking institution’s insurance program is just not practical,

So speak to a professional about Lending Insurance for Banks, including management liability coverages, as well as protection from criminal acts.

Keys to Having Successful Vendor Management Services

In order to be a successful employment agency, you need to build strong relationships with your vendors. By not doing so, you risk this arrangement winding up somewhat dysfunctional which could ultimately have a negative impact on your business. Vendor management services are designed to reduce costs, saving you time, energy, and money.

By properly managing the affairs of your business, and its services, you allow yourself to build a good relationship with your suppliers and service providers. This will help to strengthen both businesses and allow growth. This doesn’t necessarily mean negotiating for the lowest possible price; it simply means that you need to constantly be working with vendors to come to agreements that will be mutually beneficial to both companies.

The sharing of information increases productivity

One of the most important factors of vendor management services is to freely share information and priorities with your vendors. By providing the information necessary, and at the right time, you allow a vendor to better service your needs, adding to your potential for success. This can include introducing new products and services, any changes in design, plans for expansion, or relocation plans.

One of your main goals should be to gain the commitment of your vendors to assist and support your operations. While the vendor may be expecting a certain level of commitment from you, this surely doesn’t mean that you should necessarily accept the prices that they provide you with. It doesn’t hurt to get a few competitive bids in order to see what the market will bear.

Inviting a vendor to participate in strategic meetings that involve products they work with can be a wise decision. Allowing them to use their expertise can be quite advantageous. This will allow you to tap into that knowledge giving you a competitive advantage in the marketplace.

The bottom line is that the most successful vendor management services will seek long-term relationships with companies they feel connected with. Constantly changing vendors, in the hopes of saving money, will generally cost more in the long run and can have an adverse effect on the quality of your services. Understand that there are other benefits of a long-term relationship, including receiving preferential treatment and gaining trust.


CPA Professional Liability Insurance and Tax Concerns

Unfortunately, errors and omissions do occur during the process of preparing tax returns. A Certified Public Accountant (CPA) might make a simple mistake, such as erroneously entering a number on a document, or he or she may misinterpret a law or make any number of unintentional mistakes. During an IRS audit, the CPA might discover the mistake and will have to accept responsibility for any errors that they’ve made. Any resulting litigation will require cpa professional liability insurance to help pay the costs for defense.

Your client will obviously be concerned how this may impact them and, best case scenario, they might simply need to file an amended tax return to resolve the issue. But if the problem can’t be so easily rectified they might feel their only recourse will be to sue for negligence. If this is the case, any acknowledgment that malpractice has been committed can truly damage your reputation, as well as cause you serious financial damage.

CPA’S have ethical obligations

As a tax preparer, if you recognize that a mistake has been made it would behoove you to call the client and bring this to their attention immediately. In many instances, by preparing the amended return on behalf of your client, with an explanation to the client about what has happened and the reason for the amendment, everything should work out to the satisfaction of all concerned.

Hopefully your client understands that this is in their best interest and is thankful you remedied the situation in a timely manner. In some cases, however, the mistake may involve more intricate accounting, requiring your client to request permission from the IRS to make the necessary payments or adjustments.

CPA’s and other preparers have an ethical duty with respect to any errors and omissions resulting from the work they submit. Otherwise the potential for malpractice damages and exposure and the necessity for possible legal defenses will often be the result of their mistake. They should follow through and make sure that their client pays any taxes due, and they should always carry cpa professional liability insurance to aid them when they do make costly errors on tax preparations.

Advantages of a Commercial Package Policy

A commercial package policy (CCP) can include many different types of coverages, such as property insurance, liability, owned auto, crime, as well as inland marine and professional liability. By packaging these coverages you allow yourself greater flexibility to create a bundled insurance package specifically for the needs of your organization.

You can go with a standard blend of coverages that include general liability and business property insurance, or go with a richer combination of policies, for example, business auto, equipment breakdown, inland marine, business income, and product liability insurance, which enables you to have the exact coverage you desire in one convenient package.

As with most businesses, as your company grows you may find your insurance needs will change and become more complex. Having a CPP is an excellent way to customize your business insurance coverage in a much more coordinated and affordable way.

A CPP provides vast benefits

The benefits of a CCP to your company, from a financial perspective, is that you save money by bundling several policies as opposed to purchasing them separately and you only have to deal with one agent. This added convenience makes it easier when you have to file a claim. It’s important to understand that insurance under a CCP can be structured with a great deal of specificity in coverage, deductibles and payout limits. It can also be enhanced by stand-alone liability policies, such as pollution liability, employment practices liability, and other coverages that may be necessary for you to have in place, but many of which are not available under a CPP.

This is why you need to research the different types of insurance that is available, and discuss with an agent exactly which policies are needed to fully protect your company. Balancing your coverage by purchasing policies specific to your business needs is crucial to maintaining the protection you desire. This becomes increasingly significant when basic covered perils and territorial limits warrant expansion. While purchasing a commercial package policy is a very useful solution, sound valuation is also crucial in order to get the most out of your purchases.

Commercial Marine Insurance Programs are Vital to Our Economy

Much of the trade and product distribution in the US is dependent upon companies involved with global supply chains and the logistics service providers that work fervently to ensure the delivery of goods in the US and around the world. Commercial Marine Insurance Programs consist of services and products specifically designed to respond to the intricate risk profiles of the many entities that make up this dynamic and complex industry.

Brokers like you need to be able to provide your clients in the marine cargo industry, many involved in the transportation of goods on state highways, including oversized cargo, along with warehouse operators, with flexible and broad coverage for travel by rail, road and waterways. Many of your clients understand the value of a stock throughput policy that provides coverage from the “cradle to the grave.” Providing the necessary insurance solutions to ensure that they are covered in the event that any one of a number of issues develop during their daily operations gives them much needed peace of mind.

Worldwide stock throughput coverage is vital

A Stock Throughput policy is helpful in eliminating possible coverage gaps thereby creating a policy that protects many products and other merchandise on a global basis from loss or damages that may occur. This policy provides a safeguard for the entire time the insured is responsible for the goods in their care. As the broker you’ll be providing not only continuous coverage, but also a simple and easy claims process, and reduced premium expenses as well.

Freight forwarders, property brokers, and warehouse operators are unfortunately all in a position to be held liable for any damage to precious cargo while it is in their care, custody and control. This includes those times when they are arranging for transport of the shipments. Explain the benefits of this coverage (available in various forms) to provide defense to intermediaries against any allegations of neglect or mishandling and provide for indemnification in instances where they are found negligent.

Warehouse operators also have a legal responsibility for cargo lost or damaged while in their custody. Providing them with bailee legal liability coverage, also available under Commercial Marine Insurance Programs, will satisfy their needs when a claim is brought against them as well.