Why You Need Business Liability Insurance

Why You Need Business Liability Insurance

by trontnort Why You Need Business Liability Insurance Your business liability insurance will safeguard your personal finances, as well as protect your business. Without this insurance, your business could be lost. You may be the only employee of your business, or you may have thousands of employees. It is equally important for any type or size business to carry liability insurance. Although none of us like to think about it, it’s important to realize the possibility of accidents. After all, all you have to do is pick up a newspaper or turn on the TV to see that they are a regular occurrence. Without business liability insurance business owner will be responsible for any accidents that occur. This could mean financial disaster both personally and for the business. Imagine something as simple as having a customer spill a small amount of liquid on the floor of your store. Perhaps the customer doesn’t realize that they have spilled, or are unaware of how serious a situation can be created by this. The customer leaves the store without telling you that the floor is wet. The next customer comes into the store not knowing that there is a wet spot, walks straight across it, slips, falls, and cannot get up. Because it is their floor, the store is responsible. Without business liability insurance, the stores also is financially responsible. All of the costs associated with the situation will be very high. From the cost of an ambulance, medical assistance, hospital stays, lost time from work, the list goes on and on. Needless to say this will be quite an expensive endeavor....
What Are My Health Insurance Choices?

What Are My Health Insurance Choices?

by Hugo-90 What Are My Health Insurance Choices? When thinking about health insurance, make sure you understand the different types that are offered. Forms will be clearly preferable depending on your circumstances. What are the health insurance scheme do you have? When you ask about it. The question you asked is not a simple one. Some of the basic health insurance schemes are, health-care provided by the employers, public health care sponsored by Government, private health care promoted by individuals and plans like COBRA which offer a blended scheme of private and governmental health care. Which you employ will depend primary on which are obtainable to you. Designed for the vast preponderance of Americans the only valid option is employer-provided care, which will frequently come in one of two forms: an HMO or a PPO. HMO’s are managed health be concerned plans that restrict the choices of providers and treatments as division of a strategy to organize expenditure. PPO offer more choice, but tend to accuse higher premium, and many boss do not offer them. Of course, they are present in certain cases. If you are known a option you will have to think the obtainable reimbursement of each cautiously. Your boss may have selected to offer similar value, which will frequently mean that the final out of pocket price to you of the PPO may be older, but the options wider. When there are no other options, some Americans have to resort to Medicare or Medicaid, entitlement programs for the elderly or disabled. in some instances and for the tremendously meager (in certain circumstances where restrictions apply.) States,...
Public Liability Insurance – What is It?

Public Liability Insurance – What is It?

by photo Public Liability Insurance – What is It? Public Liability Insurance protects you against claims for damages caused by accident or injury in relation to your business. • It covers you against claims for legal fees, loss of earnings, future loss of earnings, and costs of treatments • It can cover you for your loss of income caused by damage to your business property • It can also cover you against claims for damages if you accidentally cause breakages on someone else’s property or to their equipment in the course of conducting your business What else can it cover? • Loss of income due to losing a key member of staff • Claims against you by a member of staff due to accident or injury • Claims against you due to accident or injury caused by a product you sell or make Who needs it? • It’s not usually a legal requirement, but it is often insisted on in order to win contracts, for example, by Local Authorities • It IS a legal requirement for certain specified businesses that are judged to carry a high level of risk of injury e.g. horse riding schools • Even when not legally required, it is prudent for all businesses to carry it , as the cost of damages can be extremely high – you may be liable for legal fees, loss of earnings, loss of potential earnings, cost of treatments and damages due to defamation or humiliation. It has been known for claims to be up to £10 million! Who can benefit from it? • Any type of business, including home-based...
Why You Need Window Cleaners Insurance

Why You Need Window Cleaners Insurance

by B Rosen Why You Need Window Cleaners Insurance Insurance for Window Cleaners is a cover that you must have when you do any kind of window cleaning. It doesn’t matter if you are cleaning the windows of a large skyscraper or a small Bungalow, insurance is there for you to protect you and other people. An example could be that an employee of yours is cleaning the windows on someone’s house. The ladder they are using slips and they injure themselves so they can’t work. That employee could make a claim against you because he or she can’t work. They could say that you didn’t provide proper training or safety equipment. Claims like this can often be quite large and could have a severe impact on your business if you don’t have insurance. For the above situation Employers Liability Insurance would cover you for the claim. In fact if you have employees in the UK you will need Employers Liability Insurance by law. With this you would be covered for claims made by employees if they are injured or fall ill whilst at work. Window cleaning involves risks that other jobs don’t, for example working at heights has risks for yourself, your employees and other people who might be in the area. There are also the risks of damaging the property you are working on. A claim could be made against you if you accidentally crack a window in a property you are working on. If the window is expensive and you weren’t insured you might have to pay out a significant amount which could mean your business...
Public Liability Insurance and Road Gritting

Public Liability Insurance and Road Gritting

by photo Public Liability Insurance and Road Gritting The last couple of weeks, which saw the entire UK coming under serious snowfalls, have reactivated discussions on the need for public liability insurance. First, an MP who was unhappy with rules concerning the clearing of snow and ice from roads and pavements had to call for the review of the law to enable councils protect people. The MP’s argument was based on the fact that unlike in the past when councils provided grit bins to enable members of the public grit roads themselves, there were no more grit bins, amidst fears that improper gritting could create a legal loophole to the advantage of those seeking to make a claim for compensation. “For decades councils have provided grit bins on side roads for the use of motorists and household … But now there’s concern that members of the public gritting side roads footpaths could fall foul of a compensation claims since they could be held responsible for failing to grit the road adequately,” explained the MP. Floodgates of Compensation Claims Her position followed concerns for public safety as snowfalls completely covered roads and pavements, making it impossible for pedestrians, motorists or commuters to move around. Insisting on doing so could result in an accident, a slip or fall and possible injuries. This could also mean opening the floodgates of compensation claims. Why would compensation arise from the failure to grit roads or clear snows and ice from pavement and roads? People who suffered injuries or had their property damaged, including vehicles, could choose to make claims against councils for not adequately...
Shareholder Protection Insurance Case Study

Shareholder Protection Insurance Case Study

by photo Shareholder Protection Insurance Case Study Many UK Businesses have no idea how much they need shareholder protection.  In this example we will imagine a business run by two partners.  The business is an estate agency and is run by Bill and Ben.  The business has been established for a number of years and is doing well.  Both Bill and Ben are well known in the area and regarded as being the professional estate agents to go to.  When Bill and Ben set the company up they did so on a 50/50 basis and share the responsibilities, running and profits equally.  Both Bill and Ben are married with children. One day Bill is killed in a traffic accident.  Naturally Bill’s family and Ben are devastated.  From a business point of view Ben has lost a valuable partner in the business who contributed 50% to the running of the business.  He will be sadly missed and the business will never be the same again nor will it generate the same kind of turnover. For Bill’s family things will obviously never be the same again.  They have lost a husband, father and bread-winner.  However, they still have a 50% share in the business which should give them some income.  Bill’s wife has no knowledge of the running of an estate agency business, not that she is able to contribute in any way as she has children to look after. Ben now realises that not only has he lost a valuable business partner who made the business the success it is today, but he also has a new business partner who will contribute...