Archives January 2019

Crucial Insurance Coverages for Employment Agencies

employment agency insurance

Every business has its own specific risks. The same is true of employment agencies. The specific and unique circumstances of this industry require very particular insurance coverages. Here is what you need to consider with employment agency insurance.

Important Insurance Coverages

Most business insurance policies cover injury, crime and property damage that occurs on your property. The problem with temporary staffing agencies is that most of your employees are not on site. This means that you need to protect your financial interests no matter where the employee is working. Your insurance needs to protect your business when employees cause harm, property damage or are involved in a theft.

These are the common policies to look through:

  • Employee Theft and Crime Coverage
  • Commercial General Liability
  • Professional Liability
  • Employment Practices Liability
  • Business Interruption Coverage
  • Cyber Liability Insurance
  • Business Auto Insurance
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Choose Tailored Insurance Coverage

Every business has specific concerns. Your employment agency insurance has to fulfill your specific needs. Find a broker who is willing to work with you to create tailored and customizable plans. The unique exposures that your business faces make insurance coverage complicated. You need an experienced agent who has worked in your industry.

Insurance is crucial for all businesses. If you run an employment agency, you are not exempt from the necessary insurance coverages.

Why Professional Dry Cleaners Are the Best Choice

FabriCare

With all the ads for at-home cleaning products and tutorials for DIY solutions, it can be tempting to try to do it on your own. For some households, time and money must be carefully budgeted, and regular trips to the dry cleaners might be considered a luxury. While you may be able to get away with home methods or hand washing everyday garments, it may actually be more practical to leave your most prized items to the care of the professionals. With top-of-the-line cleaning methods and safeguards in place, such as FabriCare insurance, to safeguard against any potential mishaps, you can rest easy when your garments are serviced.

A Superior Clean

There are many benefits to enlisting the services of professional dry cleaners. The biggest advantage is that they have unique expertise and ability to handle various fabrics that likely cannot be cleaned at home. These include:

  • Leather that cannot be washed
  • Suede
  • Items with shoulder pads, coats, neckties, and other structured items
  • Items constructed with polyamide or viscose
  • Other items that can break down with regular water exposure and traditional washing methods

Even if you can get away with occasionally washing some more durable pieces on your own, having them professionally done can ensure that investment pieces stay preserved as long as possible. If you choose a service that has a policy such as FabriCare, it can be comforting to know that damage or loss will be covered.

Factors Affecting Coverage Costs

liability insurance premium

If you are shopping for insurance, you might wonder what you are actually getting for the price. You might also wonder what affects the price of your policy. If you are requesting a company quote, the liability insurance premium will take the following things into account.

Size and Location of Your Business

The larger the company, the more insurance you will probably need to account for the housing and property of your operations. The potential for slips and falls increases the larger the property, and the age and location contribute to risks as well.

Type of Operations

What your company does will also contribute to the cost of your insurance premium. The more hazardous the industry, the higher the cost will be. Less risky operations, such as administrative or consulting, carry lower coverage costs.

Number of Employees

While it may seem odd, the size of your labor pool also affects the cost of your insurance. As with property concerns, the more employees you have, the greater potential for accidents. These risks can be as minor as spilling coffee onto computer equipment or being negligent with heavy machinery and causing serious injury.

Although a liability insurance premium isn’t standard between companies, it should be affordable and effective at handling potential claims. Do your homework to find out about industry standards.

Liability Insurance: Possible Risks for Yacht Clubs

yacht club liability coverage

When it comes to yacht club liability coverage, there are a variety of general cases which can be covered in the case of a problem. Yacht clubs see a variety of special cases that may not apply to other clubs or businesses, so finding the right coverage is vital to ensuring everything is well taken care of. Simply put, a general liability policy can cover for injuries suffered by someone involved in your yacht club as well as property such as boats at your dock and items within them. Some example cases are as follows.

Injury on Dock

Perhaps a club member is walking to their boat when they trip over a board on the dock, resulting in injury. Yacht club liability coverage can often cover the medical bills and legal fees involved. This also applies to employees, volunteers and others who may be harmed on your docks.

Crime and Damage to Property

One morning, you find that someone’s boat has been vandalized while they were stationed at your dock. Something may have also been stolen. Being able to pay for the replacing of anything damaged or stolen is a benefit of liability insurance, as member’s boats are considered under your care as long as they are at your dock.

Illness After Social Event

Your yacht club just had a regatta and the next day, a member becomes sick and claims that the food was ill prepared. You may not be able to prove one way or another, so yacht club liability coverage can handle the costs.

What Employee Benefits Liability Covers

employee benefits liability insurance

Businesses need all types of insurance coverages. One of these important coverages is employee benefits liability insurance. This type of insurance covers any claims made due to errors in your employee benefits.

What Employee Benefits Liability Insurance Covers

While some insurance plans may vary from one to another, there are some main components of EBL insurance.

Coverages often include the following mistakes:

  • A benefits manager mistakenly describes benefit plans and eligibility rules
  • A benefits worker accidentally loses a file or erases an electronic file
  • A clerical error leads to someone not being enrolled in a health plan

Errors do happen. Employee benefits liability insurance pays out damages when your business is legally obligated to pay due to these types of errors or omissions. Even if you want to think that an error won’t happen, it is always better to stay on the safe side.

What Employee Benefits Liability Insurance Does Not Cover

There are exclusions with EBL insurance. For instance, coverage is not extended to claims that stem from bad financial advice. For instance, if an administrator makes a prediction about the 401k plan and it doesn’t pan out, a suit from the employee is not covered. This type of insurance does not cover mismanagement.

No matter how diligent you try to be, mistakes happen. It is best to be prepared.

Customizing Your Online Presence

websites for insurance agents

In today’s digital world, driving traffic to your insurance company should include a strong online presence and the use of social media platforms. With the Internet playing host to thousands of companies, a truly effective presentation and delivery will be specific to your company and target market. With websites for insurance agents, there are several things to include to maximize your reach.

A bold but user-friendly overview. Potential clients don’t want to wade through pages or lists of information. They are looking for material that is attractively presented but quickly assessed. Don’t immediately bog them down with the details. Present your best information and add response-based elements.

Stay current with ongoing content. Whether you use blogs, photos, current event calendars, podcasts or video messages, keep customers and potential clients coming back with fresh new content that is SEO driven.

Keep up with accessibility. While it would seem that the online content is best accessed through a desktop application, smartphones and tablets have taken over the Internet access scene. Design your elements and present your information in such a way that is easily viewed by desktop, mobile or tablet users.

Rather than through caution to the winds, there are companies who specialize in designing websites for insurance agents. They understand the metrics and market, making their projects the most efficient and effective at growing your agency.

Working With An Agent That Understand You

Massachusetts insurance Agents

Many different insurance agencies may cross your mind when you are searching for insurance. Some of these may be international companies that boast offices worldwide and claim to offer the best prices. However, these agencies may not offer the right service for you. For those living in Massachusetts, the best option is working a local agency with Massachusetts insurance Agents that understand your needs.

Experts Agents

When you work with a local team of agents, you are creating a relationship with a team that is knowledgeable in the rates and needs of your area. With the number of different industries that thrive in Massachusetts like tourism, agriculture, fishing, mining and manufacturing, you can bet that a local agent is an expert in your industry.

Massachusetts insurance agents can also provide appropriate rates for your location. This way you are not paying the same price for home insurance that a homeowner in New York or California can pay. You also may likely not pay the same rates for boat insurance that a boat owner in hurricane-prone Florida can pay.

Amazing Service

The best part about working with a Massachusetts agent is his or her’s fantastic service. They are here to fight for your best interest and make buying insurance a pleasant experience. Start working with a local agency today and take part in an elevated customer service experience.

Liability Concerns Staffing Industries Have

staff insurance

The staffing industry is unique. Due to this, insurance policies need modifications to fit a staffing firm. When it comes to staff insurance, customizable options have to be available. Unfortunately, many firms are missing crucial coverages. Here are the concerns that you need to keep yourself aware of so that you get the proper protection.

General Liability Concerns

Property damages by a temporary employee do not fall under basic general liability coverage. Likewise, any equipment operated by temporary staff needs its own staff insurance coverage.

Professional Liability Concerns

Coverage needs to extend to errors or omissions made by employees even after they have been placed at another job. You are still liable for that employee.

Automobile Liability Concerns

If an employee is driving a client’s vehicle, you have to have the right automobile coverage.

Employment Practices Liability Concerns

Staff insurance protects against claims made by temporary employees. Likewise, if temporary employees commit any crime, you are liable for it. Your policy has to cover property held by a client or property in transit.

When it comes to the staffing industry, you need to be careful about the coverage that you have. Basic liability insurance covers employees when they work at your firm, not temporary employees when you place them elsewhere. This is why staffing insurance is crucial.

How Commercial Package Policies Benefit Your Business

commercial package policy

Opening up a small business may no doubt be one of the most exciting endeavors. When starting a business, however, you don’t want to forget about insurance. At first, policies may be difficult to understand or you may be unsure which policies fit best you have to start somewhere. Why not start by learning about what a commercial package policy is.

What Are Commercial Package Policies?

Commercial Package Policies are more flexible than other options. These policies work best with large companies that need more protection than a typical Business Owners Policy. In this type of policy, you essentially group policies together instead of separating them. This will lower your deductibles, provide more coverage and keep your prices low.

What Do Commercial Policies Exclude?

While many policies come under a CPP, there are exclusions. Here are some coverages that you may have to purchase outside of the policy:

  • Disability insurance
  • D&O liability
  • Health insurance
  • Workers compensation
  • Life insurance

Despite the exclusions, most business owners pay less with the CPP than they would with other types of coverage. The customizable options make it appealing.

When you start a business, you have to start looking into a variety of insurance policies. If you’re starting out, learning about what a commercial package policy offers is a good first step.