As we approach the end of the year, every business takes the time to look back at what was accomplished in the past few months. Doing so should provide you with a better understanding of how your business has operated as you consider to stick to some approaches and/or evaluate others. That being said, revisiting your business insurance coverage should be included in your planning for the upcoming New Year. This is a great opportunity to remind yourself of how well you and your business are protected while making sure that your current business insurance coverage still meets your needs and that of your business with the changes experienced in the past few months.

The following is a list of insurance coverage to revisit or consider for your business:

  • Professional Liability – An individual or business who oversees or represents to another a unique competency, qualification, license, skill-set or expertise needs to be covered professional liability insurance. Additionally, providing information, training, over site or advice may result in an accusation of financial loss or damages to another person or entity a result of your activity. Insurance companies provide unique policy’s for these risks. Click HERE to read more.
  • Errors and Omissions – The primary reason for an E and O policy is extend your liquid, physical, and future asset protection beyond the coverage found within your primary business insurance coverage. Click HERE to read more.
  • Business Owners Policy – The BOP is a package of insurance coverage in a single policy that meets the insurance needs of many small business owners. Click HERE to learn more.
  • Worker’s Compensation – Workers Compensation insurance pays benefits to your employees if they are injured while on the job. Specifically, it covers their medical bills, a portion of lost wages, vocational rehabilitation and death benefits. Click HERE for more information.
  • Employment Practices – Employment Practice Liability Insurance (EPLI) covers the cost of defense, indemnity, often administrative hearings and actions against the claims of workers who you employ that allege their rights have been violated. Workers’ compensation policy will no longer protect the employer from workers seeking emotional distress or rights damages. Click HERE to read more.
  • Fiduciary Liability – Fiduciary liability protects welfare and pension plans, the sponsor organization, and individuals acting as fiduciaries or administrators of the plans. Click HERE for more details.
  • Website, Cyber and Media Liability – One of the most overlooked insurance policy coverage for business is media liability. For any business who has a website, whether you are a technology company or not, you need to insure against media, publishing, advertising, patent and copyright infringement liability. Click HERE to learn more.
  • Business Auto/Truck – Click HERE to learn more about auto liability, medical payment, hired auto coverage and more.
  • Business Property Insurance – from building coverage to loss of income, click HERE to get an overview of what business property insurance entails.