Category: Business Insurance
8 Things to Consider When Building Your Business Succession Plan
Posted: September 2, 2021
8 Things to Consider When Building Your Business Succession PlanLong days. Sleepless nights. Laughter and tears. No, we’re not talking about parenthood. We’re talking about owning a business (though some might refer to their business venture as their “baby”). You’ve spent your life building and growing your business, whether you started out on your own or took over the family enterprise. And while you’ve worked hard to get to where you are today, do...
What Is Employment Practices Liability Insurance, and Why Does My Business Need It?
Posted: August 19, 2021
What Is Employment Practices Liability Insurance, and Why Does My Business Need It?Employee lawsuits against employers are on the rise. Employment practices liability insurance (EPLI) is coverage to protect your business against employee claims that their rights have been violated. Some insurers will provide this coverage as a Business Owners Policy (BOP) endorsement, while others offer it as stand-alone insurance. What Does EPLI Cover? Employment practices liability insurance provides protection against a range of employee claims, including:...
How To Protect Your Small Business from a Data Breach
Posted: August 4, 2021
How To Protect Your Small Business from a Data BreachData breaches are becoming increasingly more common, particularly for small businesses. Cyber attacks are a means for hackers to collect personal information for fraudulent purposes. Small businesses may have budget and staffing limitations that make them more vulnerable to attack. Fortunately, there are steps you can take to protect your company from a data breach. Understand How Data Breaches Occur Data breaches can happen in...
Business Income Coverage vs. Business Interruption Insurance: What's the Difference?
Posted: July 19, 2021
Business Income Coverage vs. Business Interruption Insurance: What's the Difference?Protecting your business with insurance is essential. It starts with understanding what each type of business insurance covers. Business income coverage and business interruption insurance are terms often used interchangeably – but is there a difference? All business insurance policies vary in what they cover. You may have access to a policy that protects repairs to a facility, damaged inventory, and lost income, or you...
Do I Need Business Insurance for my LLC?
Posted: July 4, 2021
Do I Need Business Insurance for my LLC?If you established a limited liability company (LLC), you chose that type of entity for the protection it provides to your personal assets, along with the tax benefits. Unfortunately, even an LLC cannot entirely protect you from some risks. While your personal assets are generally protected, in certain situations, you have almost zero protection. For example, without business insurance, a slip and fall injury accident...