Category Archives: Business Insurance
What if…everyone put in their 8 hours at work and went home?
Picture a world where everyone did their job – and that’s it. At the end of the day, they went home, closed the door on the world and did not reappear until the next day. Imagine having no coaches for soccer, t-ball or swim team; no 4-H, Boy Scouts, Girl Scouts, or American Red Cross activities; no volunteer firefighters, paramedics or neighborhood watch. What kind of world would that be?
This stuff really happens!
Protect Your Assets
Two businesses we insure are thanking us for helping them understand why they should add Employment Practices Liability to their business insurance policies, as they are being sued by either an employee or a former employee.
A typical commercial insurance policy does not provide coverage for the physical loss or damage to a laptop. It will also not cover your legal “data breach” requirements if your device was storing customer, vendor and employee information. You will need to purchase an inland marine policy (or an electronic data processing policy) to cover the laptop and “data breach” coverage to your policy to cover the costs associated with loss of that information.
One of the biggest threats to your income is the likelihood that an illness or injury will leave you unable to work for an extended period of time. Most people underestimate their chances of suffering a disabling illness or injury. The Social Security Administration’s statistics show the typical 20-year-old has a one in four chance of experiencing this type of disability before retirement.
- Less Stress
- No Commute
- Time with Family
Whether you are selling designer handbags, scented candles, are a financial planner, operating a daycare, selling vegetables at a roadside stand, or providing repairperson services, it remains a business. With that comes all the risks and rewards associated with owning a business.
In addition, subcontractors’ wages may be included in your final premium calculation unless they have provided your business with an approved liability and workers compensation certificate of insurance or exclusion form.
Two businesses we insure are thanking us for helping them understand why they should add Employment Practices Liability to their insurance policies, as they are being sued by either an employee or a former employee.
In both cases, the owners don’t feel they did anything wrong. However, they have to defend themselves and legal defense is costly.
Let’s talk… Changes in the insurance industry that can impact the price you pay. If you have questions or concerns after reviewing this information, please contact us online, by telephone, or email (see contact info below). Your Michigan Insurance Agent at Kemner Iott Benz wants to help!