Knowing that anything can happen on the road, staying protected is key to maintaining a reputation and ensuring trucking operations continue. Motor truck cargo liability coverage is designed to protect the insured and the owner of the goods during transportation. Unlike other forms of vehicle insurance, this type of coverage can seem complicated.
What It Is
At a minimum, for-hire trucking requires carrier liability. This limited coverage typically includes injuries or damage to property but not the cargo being transported. Any damage to the precious cargo clients entrust a trucking company with could come with devastating financial results. Cargo liability, which is often required by clients, offers protection for specific or a series of shipments. While every policy is different, it is designed to cover losses such as fire, theft, water damage, collision and equipment failure.
What to Consider
The cargo itself factors into how the policy works. Limits and costs depend on the type of load, where it is being transported from and its destination. In many cases, certain types of cargo are excluded from this coverage. These often include:
- Art, jewelry, money or paper
- Alcohol, pharmaceuticals or tobacco
- Live animals
- Cargo with another carrier
- Items owned by the insured
- Shipping containers
According to www.truckinsure.com, it is also important to factor in theft, which is capped, and unattended vehicle coverage, which typically means zero coverage, when developing transport plans and choosing the right insurance package.
The changing regulations of employee benefits, the trends in employee onboarding techniques, and the options for sourcing the most qualified employees have created a more complex human resources industry. Many companies that want to remain up-to-date and efficient in their operations have turned to HR outsourcing as a way to bridge the gap between demands and abilities. In fact, the team at iSure recommends working with a professional employer organization (PEO) as a way to reduce liability, expenses, and energy when it comes to HR functions.
Multi-tasking at Its Finest
Working with a PEO is more than just hiring a professional head hunter. While many HR companies are known for their ability to screen job applicants and streamline the application and hiring process, a good PEO can offer so much more. Areas of specialty often include:
- Employee benefits and payroll administration
- Risk management strategies
- Workers’ compensation insurance
- Regulatory compliance at local and federal levels
- Employment practices liability coverage
- General human resources services
Rather than having to continually train and work with individuals within the company to provide HR services, outsourcing the department can bring your experts and experienced professionals. This can reduce your risk of legal claims brought against the company, as the HR company is dedicated to exposing and addressing areas of risk with employee safety, benefits administration, and regulatory compliance.
All employers know that they are expected to keep their employees safe in the workplace. However, when your employees are volunteers, you may wonder do you need employers liability insurance for volunteers. Here is everything you need to know about proper coverage for charities.
What Is an Employer’s Liability Insurance?
The main purpose of the employer’s liability insurance is to protect employers from financial loss if an employee suffers a work-related injury. In most cases, this type of coverage can help pay for the costs associated with compensation payments or defense against an allegation. To keep themselves properly protected from any unexpected incident, employers should find the liability coverage that works best for them.
Do Charities Need Employer’s Liability Insurance?
Some charities may view this form of coverage is optional. However, all charities still have an important responsibility to keep each of their volunteers safe. If you’re wondering do you need employers liability insurance for volunteers, remember that creating a secure environment for all of your workers can help everyone succeed in the long run.
As explained by VIS Volunteers, the right employer’s liability insurance can keep you properly protected and help your charity thrive. Speak to your insurer or broker to find the coverage that is properly tailored to your needs.
Running an apartment building comes with many risks to the property manager. Using a company like US Risks Insurance to cover your liabilities can help you manage your risk. Here are some common risks.
Tenant discrimination still happens unfortunately. Despite your best efforts or intentions, the tenant may file a claim stating they were discriminated against.
An apartment complex requires several employees to run efficiently. There are people to run the office, maintain the grounds and handle maintenance requests. An employee who feels unfairly treated or fired without grounds can sue your business.
Disasters happen causing destruction and loss of income. When a loss is covered, business income insurance helps cover those extra expenses and loss of rent the property experiences.
Adding a new building to your apartment complex can increase your rental income but the construction phase comes with its own risks. A builders risk policy covers mistakes the contractors may make.
If the apartment complex has a board of directors, directors and officers liability helps cover mistakes the board makes. Common mistakes include discrimination and fiduciary duty breaches.
Protect the risks associated with running an apartment building by addressing these concerns with US Risks Insurance. The policies help protect the financial assets of the business and handle the claims process.
Insurance Built for Your Agency
If you run a temporary staffing agency, you know how valuable you are to helping businesses and workers fill in employment gaps. You also know there are certain times when you face risks that only temporary staffing insurance can protect you from. That’s why having the right insurance is so vital to your company’s operations.
The Help Insurance Provides
When a dispute occurs between a company and the worker you helped get hired, you can often find your agency in the middle of it. Unfortunately, that is part of being a staffing firm. However, you want to be covered from any harm or damages if that dispute escalates to a lawsuit.
To do that, you need an insurance policy that covers you and provides assistance with these situations. The following are typical coverage options for temporary staffing agencies and ones you should have for optimal protection:
Helping You Continue Offering Your Services
You play a vital role in staffing businesses, and both companies and employees appreciate your help. Temporary staffing insurance protects your company when there is friction between workers and their employers while keeping you out of the thick of things. That means you can continue helping businesses and workers even when a claim or dispute arises.
Year over year the increased risk of cybercrime goes up. Companies of all sizes are at risk for a data breach, but there are still common myths surrounding whether mid-sized businesses need the added coverage of cyber liability policy from Financial Guaranty California. Unfortunately, these myths are easily debunked.
We’ve Got Insurance
Because there has been such a rise of cybercrime, many insurance providers have created a specific cyber liability policy. As the companies create new specific liability policies for cybercrime, they have begun to remove these coverages from other standard business policies. Your company could be held liable for the cybercrime without that added coverage.
We’re Too Small
Regardless of the size of the business, cybercrime still happens resulting in data breaches, lost hours and increased liabilities. Small and mid-sized businesses may not have the financial capital to recover from a data breach on their own. The results of cybercrime can be devastating for a business.
We Don’t Have Much Exposure
With nearly half of cyber crimes happening in small to mid-sized businesses, your business has plenty of exposure. An agent can go over the specific risks facing your business and guide you to the right coverage and pricing options to protect your data.
Insuring your mid-sized business with Financial Guaranty California allows your company to take advantage of a comprehensive insurance policy package including cyber liability. Cybercrime is on the rise is your business ready.
Just as a business gets insurance for workers and unemployment, there is also a demand for business supply insurance. Here’s a few reasons why having insurance for supplies is important, even if you’ve never considered it before.
Business Supplies Can Get Damaged or Ruined
Just like anything else, supplies can get ruined through an accident, such as flooding, tornados, or even storms. This can leave the supplies unusable and end up costing a lot of money to get them replaced. Having coverage can prevent these problems from occurring and save a lot of money in the long run.
It Covers More Than Just Paper
Business supply insurance covers more than just paper and pens when it comes to office supplies. This can include printers, fax machines and copiers, computers, and other forms of telecommunications. Considering the cost to have these replaced can add up, this saves money and provides protection should an incident occur. For companies that have a lot of these items to cover, this provides the protection they need.
To protect a company against loss involving business supplies, it’s helpful to have insurance. It can protect the items in a variety of instances and can cover anything from computers to more basic office needs. It’s a helpful plan that can save money no matter what the circumstances.
Are you looking for construction insurance in Wayne, NJ?
If you’ve found it challenging to determine the coverages you need, here are four of the key insurance options that you should be sure to include in your policy.
General liability insurance is broad coverage in case a third party suffers bodily injury or property damage because of your business. If a lawsuit is filed against you, your policy will cover the legal fees and any other expenses for which you’re liable.
Professional liability is for construction companies who are also designers. If your client files a lawsuit claiming that your design didn’t meet their expectations or includes errors, your policy will cover the cost of any legal fees associated with the case.
Pollution liability insurance covers you in case a lawsuit is filed against you because your construction activities lead to pollution that caused harm to a third party or their property. Your policy can also be used to purchase items to help mitigate pollution.
Unlike many other industries, workers’ compensation is a requirement for construction companies. Your policy should cover your employees and any subcontractors you may work with as well.
Plenty of other insurance options exist to keep you covered against the many risks that are inherent to the construction industry. Work with an agent who’s experienced in construction insurance in Wayne, NJ to create the policy that’s perfect for you.
Many different companies seek out marine insurance. Marine insurance covers cargo, terminals, ports and the ships themselves. This coverage is important to cover any damage to a ship and protects the owner in terms of liability. Of course, when it comes to finding the right New York marine insurance company, you have to do your research.
What Type of Coverage Do You Need?
If you aren’t sure before you start the search, that’s okay. You can find out as you go and many insurance providers will help you decide which is best. Here are some of the coverages you need to consider:
- Protection to damages of cargo
- Protection to injuries of anyone on the vessel
- Protection to damages to infrastructure
This is not a complete list, of course. There are many different coverages available.
How Much Do You Know About Marine Insurance?
You may want to ask yourself how much you need to rely on the information from your New York marine insurance company. You may need a company that is more hands-on and informative if this is your first time purchasing insurance. Even if it isn’t, it helps to have a company that is there to answer your questions and calls when necessary.
To purchase marine insurance is important for your business. Since you need coverage that protects you, you want to make sure you’re getting the best from the company.
VMS or Vendor Management Services is an external workforce solution for business to manage its contingent workforce, both temporary and permanent. The right VMS system can help with onboarding, staffing, contingent staff feedback ratings and invoice handling. These service systems can be internet based or they can be a combination of staff and computer systems. They are particularly used by companies who have large temporary staffs.
Benefits of VMS
Some of the benefits to business of a good VMS system are:
- Reduced total costs of procurement
- Enhanced vendor performance
- More efficient purchasing
- Ensures legal obligations are met in staffing
- Helps protect your brand
How a VMS System Helps Reduce Risk
- Effective tracking and higher visibility can mitigate supplier risk and ensure regulatory compliance.
- Using the right system can save your company administrative fees and avoid penalty costs.
- The VMS system can identify and reduce vendor data security breaches.
- Third-party vendors who are a credit risk can be identified.
An effective vendor management services system can help a business identify and manage risk while minimizing the costs and staffing that would be involved in direct oversight. The best systems are designed to reduce costs, identify and manage risk, and improve vendor performance.