Employment Practices Liability Insurance

Since Title VII of the Civil Rights Act of 1964 passed, the issue of employees’ rights continues to be controversial. Employers involved in interstate commerce are prohibited from discriminating against applicants. Understanding Lawsuit Risks As more laws are enacted for workplaces, employers face a higher risk of lawsuits. The likelihood of discrimination lawsuits is especially high. In order to minimize this risk, employers need to create a workplace that offers workers equal rights, opportunities, job access, working conditions, job security and opportunities for advancement. They must also strive to create a workplace that is in compliance with federal employment guidelines for mature and disabled workers. During the time period between 1992 and 2004, the number of individual discrimination charges jumped 

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Business Interruption Insurance

To ensure the survival of a company, business interruption insurance is a valuable tool. Although some companies may never use it, having this coverage can be the difference of recovering from a detrimental event or closing the doors forever. Business interruption coverage is just as important for any business as flood insurance is for an oceanfront business. Most people would never start a company without insuring their property and inventory from storms, vandals and perils. Fires, mold, floods and even injury lawsuits may cause a business to close its doors temporarily, and the building or machinery may be unusable for some time. Business interruption insurance is added to a property insurance policy. After any type of disaster, shutting down the 

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Product Liability, Recall And Contamination Insurance

Companies that design or sell tangible items should consider product liability insurance. Anything from foam slippers to boxed macaroni can be manufactured incorrectly enough to result in lawsuits. Some food products become contaminated and make people sick. Other items may be designed poorly and cause physical harm to customers or their personal property. Product liability insurance is an add-on coverage for a general liability policy. Purchasing Considerations When buying product liability coverage, it is important to think about what could go wrong with products. If the item is known to be a danger, more coverage may be necessary. People who sell packaged food products should always purchase a generous product liability policy. These are some factors to consider when assessing 

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Directors & Officers Insurance

Imagine these scenarios affecting organizations of varying types and sizes: Members of a trade association sue the group’s board of directors, accusing them of mismanaging association funds by spending thousands of dollars on a project that went nowhere. Stockholders in a small restaurant chain sue the company’s risk management officer after a location suffers a total uninsured loss of the building, contents and food. A taxpayer group sues a public library’s board of trustees for building up a reserve fund that the group considers to be too large. All of these scenarios could mean large financial losses for the organizations and the individual directors. They need directors and officers (D&O) liability insurance to pay for these situations if they occur. 

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What Does Cyber Insurance Cover?

Many businesses do not understand just how important cyber insurance is or why they need it.¬†Some of the most common targets for cyber thieves¬†are medical offices, law firms, accountants and other professional businesses who collect personal information. What Does Cyber Insurance Cover? There are several inclusions in a cyber insurance policy. Any business that stores trade secrets and protected personal information of clients should consider a policy that includes the most important features. One of the most important features a policy should have is investigation of privacy and cyber incidents. This feature includes forensic investigation costs, outside counsel costs, fees related to sending letters to clients about security breaches and the costs of crisis management or public relations. Coverage applies 

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