Do you operate a nonprofit or charity that makes use of volunteers? If so, you should know that volunteers are not typically covered under the insurance policies which protect your salaried employees. Without an insurance plan for your volunteers, your organization may be responsible for the costs associated with any illnesses or injuries that occur while they are volunteering. You will also be responsible for covering any public liability claims they incur. Below are the three types of policies you need.
Volunteer Injury or Illness
Coverages for volunteers should pay for the medical expenses associated with illnesses or injuries sustained during an authorized volunteer activity. Moreover, if your organization’s workers’ compensation insurance does not extend to volunteers, it would be wise to make sure that your volunteer policy offers this protection.
In addition to protecting your volunteers, your organization needs a public liability policy to cover any injury or property damage claims caused by your volunteers.
Directors and Officers
Finally, if the board of directors of your non-profit or charity consists of volunteers, they need the specific coverage offered by a D&O policy. This will protect them from any claims of wrongful acts or mismanagement.
Your volunteers work hard for you. They can save your organization money, lighten the workload of your paid staff, and act as a valuable conduit to the community which your charity or non-profit serves. You owe it to them to make sure that they and your organization are protected by policies designed specifically for the risks they face.
You are the owner and operator of a small business here in the Sunshine State. During your daily business routines you’ll likely interact with employees, contractors, clients, vendors, and others that serve your interests or purchase your products or services. If anyone one of them has a bad experience they could claim that your company was responsible for any injury or loss they may incur and take up some type of legal action against you. Whether this requires a defense against claims of property damage, bodily injury, libel, slander, or some other legal issue, a florida commercial general liability insurance policy can provide you with the coverage you need.
What is commercial liability insurance?
In the simplest terms, commercial general liability (CGL) insurance protects small business owners from a wide range of claims related to their business activities. The indemnity provided by a liability policy helps business owners cover the costs associated with mounting a legal defense as well as any settlement costs. In addition, many small business owners find that clients will require them to have this policy before they will sign a contract. They want the peace of mind associated with knowing that they’ll be protected if and when something does goes wrong.
Having the right coverage amounts in place can make a significant difference in your ability to negotiate with new clients and bring in additional revenue. A CGL insurance policy also helps protect a business by providing the financial resources necessary to keep it operational when unexpected events (such as an injury leading to a lawsuit) cause a possible financial strain on the business.
A CGL covers property damage as well
The fact remains that many companies become involved in a lawsuit at one time or another and even with everyone practicing safety and being alert as well as careful to take all the necessary precautions, it’s still possible that something bad could happen. It’s even worse when it results in damage to another person’s property. In any case, a florida commercial general liability insurance policy must be in place to compensate for any resulting physical damage to any person’s property.
As a business owner who owns a mid to large-sized business operating in the great state of Maryland, you have enough to worry about with operations, deadlines, customer satisfaction, and employee retention, without adding insurance to the list. While you can buy several different, essential policies that no smart businessman would go without, a commercial package policy in Maryland can be issued to include almost any type of coverage offered, from property and liability to auto, crime, inland marine and professional liability.
Packaging coverages not only allows for great flexibility to determine which policy to choose, and one specifically designed for the needs of your organization, it also enables you to have almost all of your coverage in one convenient package. That means you only have to deal with one insurer when a claim for any of those issues occurs.
Partnering with the right insurer is important. Someone who can analyze the amount of risk you might typically face in order to determine what type of liability coverages you need, as well as the amount of coverage (any current coverage amount you have may be inadequate for the types of risks your business faces), which is tantamount to your remaining successful.
Look at coverage for additional exposures
You may also need to have adequate protection from other exposures you may face, and depending on the particular type of business, you should probably include additional types of liability coverage protection. You may benefit by including:
Directors & Officers
Employment Practices Liability
Umbrella/Excess Liability, to name a few
You need to consider the possibility that there may be gaps in coverage that you are unaware of. It may be determined that increased policy limits, broader coverage, or other additions are appropriate to ensure you have a truly comprehensive Maryland commercial package policy.