Posts Tagged ‘Insurance’

How Occupational Accident Policies Protect Your Workers

Occupational Accident Policies

A comprehensive insurance plan is critical when it comes to keeping your workers safe. Workers’ compensation policies, for example, help provide coverage for lost wages and similar expenses that are incurred after an employee has taken ill or become injured on the job. While this is a standard policy, it is not the only option available to business owners. In states like Oklahoma and Texas, employers can select a different plan when opting out of the traditional compensation plan. Understanding each option can help you pick the right choice for your needs.

Policy Benefits and Options

To understand the benefits of occupational accident policies, it helps to understand how it differs from workers’ compensation packages. For one, there is more control with occupational policies. Instead of having these factors determined for you, an accident policy allows you to choose the limit of liability, assumed deductible, and level of death benefit. This helps you budget better with your insurance without sacrificing quality along the way. In this arrangement, you assume part of the risk and your policy will cover the difference. You will also be able to select from an array of policy options including:

  • Temporary or permanent total disability
  • Chiropractic benefit options
  • Accidental dismemberment
  • Passenger accident benefit

Selecting the best insurance plan takes time and research. Weigh out the pros and cons to determine which option will allow your business the chance to thrive.

3 Things Your Small Business Needs Today

Small Business

Owning and operating a small business comes with a lot of responsibility. You are responsible for deadlines, working with vendors, reinvesting capital and of course, liabilities. If you’re just starting out, you have a lot to learn along the road to success. Here are three areas that can help get you ahead.

  1. BOP Insurance

Business owners insurance is essential for small businesses that can’t afford the risk of liabilities. Everything from your building to your employees presents a liability risk. A BOP policy can be tailored to fit the needs of your business, including property and general liability coverage.

  1. Marketing Strategy

You don’t need a marketing department to have a marketing strategy. You can start out simple with a webpage and social media accounts. The key is to update often, and also purchase advertising. Social media platforms offer an affordable way to complete with companies much larger than your own.

  1. Business Plan

If you didn’t create a business plan when you started your business, start making one now. This will help you set clear goals and milestones for growth. You should review your plan often and revise it as often as needed. Studies have shown that writing down your goals makes it more likely you will reach them.

Professional Insurance for Marine Surveyors

Marine Surveyors

As a surveyor of marine vessels, your reputation and the quality of your work are of utmost importance, because boat buyers rely on your assessment to know the facts about the investment they are about to make. From maintenance issues and necessary equipment overhauls to market value, the information they get from you plays a major role in their decision to make an investment or to let a deal fall through. If you work with commercial customers who regularly buy and sell vessels, it can even be the basis of professional relationships that provide for a lot of your repeat business. That’s why you need professional liability insurance that will protect you and your customers in the event of a problem that you bear some liability for.

Industry-Specific Professional Insurance

Professional liability insurance is at its most useful when it is crafted to suit a specific industry, rather than trying to generalize risks. That means your best policies will be from marine surveyor insurance providers with a history of providing for the industry. It’s especially helpful if they have experience with both surveyors and also several other types of marine business because it shows they understand both your business model and that of your likely commercial clients. The more your insurer understands about how your industry works, the more useful, specific, and cost-effective their policies can be.

Going Beyond Basic Coverage

Professional Liability Coverage

Operating a business is much more than just marketing to the right customers. It takes smart planning moves like having the right level of insurance for your industry. One important insurance policy you may require is called errors and omissions coverage. With this kind of policy, you can better prepare yourself in case of an expensive legal case.

What Makes This Coverage So Special?

E&O coverage extends beyond the realm of basic liability coverage like a general liability. The experts at https://hilbgroupfl.com/ state that general liability does not necessarily cover the kinds of risks and consequences that are involved with alleged negligence and errors. See, errors and omissions coverage comes into play when a client believes an error or negligence occurred with the services you offered. This protection is usually not offered under the terms of general liability.

What Kind of Professional Requires This Insurance?

Many different types of professionals can find this insurance beneficial. For example, healthcare professionals may find this policy beneficial in case a patient places legal action against your office for scheduling an appointment at the wrong time. Accountants, lawyers, and tax professionals would also be wise in investing in this insurance. Financial investors, planners, and even other insurance brokers frequently purchase this insurance in order to be financially ready for a potential lawsuit.

What is a Stock Throughput Policy?

D&G Sayles Insurance

If you have a business that manufactures, distributes, imports or exports products then you should understand what a stock throughput policy entails. A stock throughput or STP policy is an all-inclusive type of coverage that offers protection during the entire supply-chain cycle and even takes gaps of coverage into account.

From raw materials to finished products, a stock throughput policy is designed to cover your inventory throughout production, storage, transit, and delivery. During the production and overall flow of goods, there are countless ways a product can be damaged or lost. That is why securing stock throughput coverage through an experienced company like D&G Sayles Insurance, is an ideal way to protect your investment. With this type of marine insurance, you can rest assured knowing that your goods are covered from start to finish.

STP’s commonly come with low deductibles and high limits making them a cost-friendly choice for companies looking to lower overhead costs and improve administration and operating costs. Partner with a reputable company and ensure you are getting the most competitive price in the market.

Rather than dealing with the hassle of carrying multiple types of coverage for each phase of your product’s life cycle, consider the advantages of one comprehensive stock throughput policy. Get the coverage you need from the raw material stage to the final delivery of your product.