Post by HIC | 17 Mar 2018 | Tags : business insurance
Businesses seek insurance to mitigate the risk of damages that come with unforeseen events. Forgoing insurance might seem like a good way to cut costs, but exposes businesses to huge risks in the long run and brings heftier costs. Business insurance also protects you from losses that are very common such as employee injury, theft, liability, property damages etc.
Post by HIC | 17 Mar 2018 | Tags : commercial property insurance houston
As the world progressed, more and more businesses started to develop. Business owners started to experience everyday losses including property damage, employee injury, natural disasters, and other uncertainties associated with the business. This was the time they realized there needs to be something that protects businesses from losses and prevents them from filing for bankruptcy.
Post by HIC | 17 Mar 2018 | Tags : employment practices liability insurance
Known as EPL insurance or EPLI, Employment Practices Liability Insurance provides an employer protection against employee claims made on discrimination, harassment, breach of contract, wages, hour law violations, and emotional distress.
Post by HIC | 17 Mar 2018 | Tags :
To say that technology plays an important role in running businesses and reaching customers would be an understatement. Dependency on computerized systems makes businesses vulnerable to cyber attacks. Cyber attacks are launched by criminals, filthy competitors, hackers that intend to capture and run your business, insiders, and other states.
If you have commercial property insurance, you are covered against damages that are caused by a storm, fire or another disaster. In many a cases, theft is also covered.
If you are a business owner, you are exposing yourself to a number of risks. How can you get protection against all these threats? There are so many business insurance policies available in the market, so which ones of these should you buy? We’ll walk you through some of the most essential insurance types that your business should have.
According to sources, there are around 28 million small business owners in the United States. From small retail shops to well established businesses. No matter what type of business it is and how well established it is, all types of businesses can suffer losses which is why they require protection. Perhaps, this is the main reason as to why so many business owners are found asking questions about business insurance.
Employment Practices Liability Insurance, also known as EPLI, insures businesses when workers sue the employer if they feel that their legal rights have been violated. Big corporations always insure themselves against such law suits by purchasing coverage. However, small and medium sized businesses often neglect it, which can result in a huge financial loss.
Businesses are becoming more dynamic and spread-out, having employees traveling across the world to further business goals. Risk factors have also increased and have become rather unpredictable. Previously, when businesses largely operated in their place of origin, they were more aware of the external risk factors both sudden and long-spanning that could be damaging. Businesses could then prepare to protect themselves in advance. The dynamics have changed, and so have the risks. This change in dynamic has raised the need for increased levels of casualty insurance in order to be covered for losses by unforeseen circumstances such as direct accidents, fires, thefts and liabilities.
Post by HIC | 10 Jun 2016 | Tags : Errors & omissions insurance
Making errors is just part of being human, either at workplace or in daily life activities. But there are certain clients who are pretty serious about every inch of their work. Even a slight mistake can make them claim for inadequate performance. These claims may seem small to the providing party, but can severely affect the financial position of a business and have the potential make them insolvent. In order to avoid such terrible consequences, companies get protection through an insurance policy, namely errors and omissions insurance policy, and protect themselves from the consequences of claims. Let’s have a look at why companies need an errors and omissions policy.