liability insurance
The following blog posts have the category Liability insurance
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Whether you're just starting your business or have been running it for years, understanding the types of insurance your business may need is critical to managing risk. Two of the most common forms of business insurance are general liability and professional liability. While they may sound similar, they address different types of exposures and serve distinct purposes.
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As the back-to-school season approaches, the excitement of a new academic year fills the air. Parents are busy shopping for supplies, students are anticipating meeting new friends and teachers, and everyone is settling into the routine that comes with the school year. However, amid all this excitement, there's an important aspect of preparation that often gets overlooked–insurance.
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Golf carts are a convenient and fun way to get around the golf course, neighborhood, or even certain urban areas. However, like any vehicle, they come with risks that require attention. Whether you're a seasoned golfer or just using a cart for a quick ride, these golf cart safety tips will help you stay safe while enjoying the convenience they offer.
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Whether you specialize in carpentry, web design, or accounting, the availability of online resources and professional networks enables almost anyone to engage with potential clients and manage essential day-to-day business tasks independently. This growing pool of freelancers and self-employed professionals has simplified the process for employers, making it easier than ever to hire independent contractors to fulfill specific business needs.
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Having adequate RV insurance is essential to protect your investment and peace of mind while traveling. As with auto insurance, your rates are based on the make and model of your RV, your driving history, and other factors. You may have the option to add RV coverage to your regular auto insurance, but this isn't always recommended. Because your RV is both a home and a vehicle, it may require specialized insurance to provide the right kind of coverage. Each person's RV insurance needs are unique, so choose a policy tailored to your specific requirements and budget.
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Personal Umbrella Policies are liability insurance policies with very high limits of protection, typically starting at $1,000,000. They are designed to add a layer of protection above other kinds of personal liability coverage such as the liability protection found in a personal auto, homeowner or boat insurance policy. These kinds of policies are meant to protect you should you be deemed legally responsible for injury to persons or property. Personal injury can include non-physical injury like libel or slander.
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As a business owner in New York, you have the option of hiring contract or permanent employees – and many more businesses are using contract workers while sorting out the uncertainty in the economy. A contract employee is essentially a freelancer who has agreed to work for you for a mutually-agreed upon period of time, which may be extended if you see fit. A permanent employee has been hired with the understanding that he or she will go on working for you until a termination or a resignation. Both types of employees have their advantages and disadvantages. Some of the advantages of contract employees, however, are illusory.
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We've said it before: the distinction between a small and large business is somewhat arbitrary. At what point in the business growth life cycle do you cross over? One way to answer the question is when your business no longer qualifies for a Business Owners Package Policy. The BOP bundles up several kinds of insurance protection in one policy. But as business become larger the risks they pose become more varied and difficult to address in one policy.
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An impending lawsuit is never good news. Not only are they costly, but, perhaps worse, they can permanently damage a company's reputation, an expense no business can easily afford during highly competitive consumer and employee markets like the current. While companies are sued for a range of reasons, there are a few recurring culprits that can be avoided with appropriate planning, clear communication, and due diligence.
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For any homeowner, a robust insurance policy is a must. But if you're new to homeownership, or if you're thinking about updating your policy, you may not know much about what it does and doesn't cover, along with how to find the best policy for you and your family.
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For a small business owner, having to let go of employees is never easy. When employees have become like friends or even family, it can be especially tough to make a decision to do what's right for your business. So how do you know when it's time to let people go, and how do you downsize in the most humane way possible? Here are some things you should consider before downsizing, and some tips for going through the process.
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This fall, we're heading into an unknown future with the COVID-19 virus. While some schools are doing their best to re-open, other schools and some parents have decided it's best for kids to stay home, at least for now. As adults, we know how to social distance, wash our hands, and do whatever we can to minimize our risk of infection, but these practices are harder to enforce with kids and teens. Whether or not your kids are going back to school in the fall, here are some things you can do to keep them healthy.
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So you're thinking of buying a pool and imagining those lazy, hot summer days when you'll get to slip into the cool water, sunbathe, play with the kids, and invite friends and neighbors to share in your good fortune. But there's more to owning a pool than just the fun stuff. Make sure that it's truly something you want and are willing to put in the work to maintain. Here are a few things to consider before you "dive in" -no pun intended.
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According to the World Health Organization, falls are the second leading cause of accidental injury deaths worldwide. Falling disproportionately impacts adults age 65 and older, and can lead to serious injury, further health problems, decreased quality of life, and a loss of independence.
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When it's time to store your boat for the winter, sit down with a member of the marina's staff and discuss what you can expect to have done. Most marinas are prepared to service your boat efficiently, but you are responsible for seeing that all work is done. Ask that they call you when the winterizing is complete.
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Dear Valued Client:
A 5-Step Checklist for Financial Health in 2017
Tips for Parents To Help Prevent Teen Car Crashes
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Summer is wedding season, and couples throughout New York will be tying the knot. If you're one of the lucky couples, wedding safety might be the last thing on your to-do list, but if something goes wrong on your big day, you'll wish it had been the first.
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Some states mandate comprehensive liability, which covers bodily injury and property damage.
May is Motorcycle Safety Awareness Month, designed to encourage all drivers and motorcyclists to share the road with each other. Increased awareness of motorcycle safety has helped improve the number of injuries and fatalities of motorcyclists.
Personal and commercial auto insurance is VERY important for everyday life. You never know when an accident can happen. Many people ask, "Do I have enough coverage?" or maybe they think, "I have too much auto coverage." Most consumers don't grasp what auto liability coverage is all about, so let us break it down for you. Auto liability covers you for two major items...
In the United States, gun ownership is still a hot button issue. A 2014 study in the Annals of Internal Medicine reported that having a firearm in the home puts those in the household at higher risk of committing suicide or being the victim of a homicide. And approximately one third of American households keep at least one firearm in the home.
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How Technology E&O Coverage Differs from General Liability: You Should Buy BOTH General Liability and E&O Insurance from the same company. This helps ensure that there are no unintended gaps in coverage between the two policies.It also eliminates the issue of coverage disputes between carriers if a claim triggers both policies. At E.I.F.S we know that insurance is not your business.While we encourage you to understand the basic differences between General Liability and E&O Insurance, it is important to discuss your coverage needs with an insurance professional who has experience working with technology companies. EIFS will be happy to discuss your insurance needs with you and find the best coverage for your company. For more information call us at (631)563-8433 or e-mail us.
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NEW LIABILITY ISSUES THAT ARE NOT COVERED UNDER YOUR GENERAL LIABILITY INSURANCE. READ FOR MORE INFO OR CALL US 631-563-8433 POLICYHOLDER ALERT NEW LIABILITY PROBLEM Dear Client: We would like to make you aware of a new liability problem if you own or rent property in New York (other than a one or two family house). This notice will explain that liability and how you can take action to avoid it. If someone doing work on your property is injured, you may be held “absolutely liable” under the New York Labor Law. This means that for certain kinds of accidents (a fall off a ladder) the worker does NOT have to show you were negligent or did anything wrong in order to win a lawsuit. In many of these cases you will have NO DEFENSE to liability at all under your insurance contract since an insurance contract covers you for negligence. We have identified two ways to try and avoid this problem and there may be others. We strongly recommend that you discuss these with your own attorney and start using one or more of these methods as part of your routine business practices when allowing contractors onto your premises to do work. Additional Insured- Make certain that any contractor doing work for you provides you with a current certificate of insurance naming your organization as an ADDITIONAL INSURED and indicates that the coverage provided is primary and covers both direct and vicarious liability. In addition to getting the actual certificate, your written contract with the contractor should also recite that they are going to provide this insurance on your behalf. Indemnification Agreement- The second way is to have a written contract with the contractor. The contract must contain an “indemnification agreement” so that if a worker gets injured and sues you merely because you are the owner or lessor of the property, the employer (the contractor you hired) will have to pay to defend the case and any other money owed. Contact EIFS for a sample “Indemnification Agreement.” Of course, it is always important for you to seek your own legal advice for any contract you sign. In addition to being named as an additional insured and signing a contract that contains an “Indemnification Agreement, it is always important for you to ensure that the contractor has both workers compensation and general liability insurance. If we can be of any further assistance, please call us. Executive Insurance and Financial Services (631)563-8433 or Toll Free: (888)343-7463
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