April, 2015

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Purchase a CGL Policy Through a Commercial Insurance Agency

Purchase a CGL Policy Through a Commercial Insurance Agency

No matter how careful a business owner may be they still need an insurance policy that provides financial protection from the many risks that they might incur. Commercial General Liability (CGL) insurance protects all types of small-business owners from claims of injury, property damage, and negligence related to their activities during the course of their business day. The indemnity provided by this policy can help cover the costs associated with the need to mount a legal defense.

It’s also important to note that your clients may require you to have a CGL policy before they’ll sign a contract, so having the right coverage in place can make a significant difference in your ability to bring on new clients and increase revenues.

A CGL policy covers many court-related costs

Available through any commercial insurance agency, a CGL policy protects your business by providing the financial resources necessary to keep it operational when unfortunate mishaps occur. A typical policy covers the following expenses:

  • Costs related to defending or investigating a suit or claim against you, including court costs, witness fees, and attorney’s fees
  • Reasonable expenses incurred when assisting in your own defense, such as income lost while spending time in court
  • Judgments resulting from covered suits, including interest required on the judgment
  • Settlements, including the injured party’s medical expenses, if your defense is unsuccessful, and
  • The premium on a court-mandated bond connected with a liability suit

Who is protected by a CGL insurance policy?

A general liability policy insurance policy covers many of those other people involved in your business, as well as the owner. For example, if you have a joint venture or partnership, all of your partners, members, and their spouses are protected if they’re sued for acts they engage in, in any official capacity related to your business. As a corporation, your policy will also cover all of your business’s executive officers, directors and stockholders while they’re acting in their official capacities.

If you have subsidiaries, the liability coverage on your policy extends to any subsidiary where you own at least 50 percent of the stock, and your policy also protects your employees from claims that result from actions they take in their capacity as employees. Contact a commercial insurance agency for questions about coverage and to learn about other instances where this policy provides protection to the entity with regards to liability claims.

Atlanta Georgia Insurance and Pregnancy Help Clinics

Atlanta Georgia Insurance and Pregnancy Help Clinics

Pregnancy Help Centers are designed to help women through the process of being pregnant, hoping to help them with prenatal care, which includes vitamins and nutrients to help their unborn child enter this world as healthy as humanly possible. Their goal is to assist their patients in understanding how important their role is in the development of their child and also understand that there are certain things they can do to better prepare themselves for the duties of being a parent.

These centers can benefit by carrying adequate Atlanta Georgia insurance, particularly that which pertains to professional liability issues because they can also be targets for lawsuits. After all, they deal with people who are often in an intense emotional state, and any occurrence that leads to fear, pain, or something far worse, for example, complications of a pregnancy due to procedures or information provided by staff and caregivers, could create the potential for litigation.

What is Professional Liability insurance?

Also called errors and omissions (E&O) insurance this policy covers your company, or you individually, in the event that a client holds you responsible for a service you provided (or failed to provide) that did not have the expected or promised results.

Most E&O policies cover judgments, settlements and related defense costs. Even when the allegations are found to be groundless, which often happens, thousands of dollars will likely still be needed to defend the lawsuit. This type of expense can bankrupt a smaller company or individual and have a lasting effect on the bottom line of larger companies.

Why are Pregnancy Help Clinics targets for a lawsuit?

A Pregnancy Help Medical Clinic is a licensed clinic that works under the direction of a medical doctor (M.D.). Medical services provided vary from clinic to clinic, but often include ultrasounds, on-site prenatal exams, and/or sexually transmitted disease (STD) testing. This all allows plenty of room for error. It’s an unfortunate fact of life, but everyone makes mistakes at one time or another. Even with the best employees and the best risk management practices in place, mistakes will be made. No one is perfect.

There are plenty of instances where a client, or relative may question the advice or techniques used at a participating clinic. Atlanta Georgia insurance will provide the necessary coverage when allegations or claims of an error or omission exist.

Aegis General Helps By Serving Underserved Markets

Aegis General Helps By Serving Underserved Markets

There are agencies that specialize in insurance solutions for underserved markets because they understand full well that these niches are ripe with potential. Motorcycle programs fall under the realm of underserved markets, in part because many owners are reluctant to buy insurance. They form a select group that dearly needs insurance because they are much more vulnerable than motorists that drive cars and trucks.

Aegis General is just one insurance innovator who is willing to take on the challenge of creating opportunities in areas that may seem unprofitable and connect with those consumers who are not being taken well care of. The question is, how do you connect with them, and how do you get them to buy a product that they need and can afford, but simply don’t know how to go about getting it?

Teaching your clients motorcycle safety

Motorbike riders might feel more comfortable working with an insurer who wants, not only to pique their interest in purchasing a policy, but also cares about their safety and well being. Aegis General presents some safety tips to pass on to riders that they should consider before starting their engines:

  • Test the lights, brakes, and turn signals
  • Check the oil and fuel levels
  • Make sure mirrors are positioned correctly
  • Check the cables to make sure they aren’t worn or frayed
  • Lube the chain and adjust it according to the manufacturer’s specs, and
  • Invest in good riding gear

When on the open road, there’s not much between a motorcyclist and the pavement, so wearing tough protective gear is always the right move. Riders should also wear a high-quality helmet that fits well and meets federal safety standards, preferably with a face shield, or wear goggles or glasses with safety lenses. Wearing durable non-slip gloves and boots that cover the ankles also helps considerably.

Other tips while on the road

Those trucks and cars that motorcyclists often dodge between can do a lot of damage, so they’ll be much safer while riding by always using their signals, sticking to the speed limit, knowing the bike’s limits, and never tailgating other vehicles.

Being respectful of other drivers is important and never weaving through traffic or driving on the shoulder. They should make sure other drivers can see them at all times, and avoid riding in blind spots and always using headlights, both day and night. Aegis General wants to be the full service Program Administrator your company trusts and looks to for viable solutions.

E&O Claims and Real Estate Liability Insurance

E&O Claims and Real Estate Liability Insurance

Real estate agents need coverage that protects them against financial losses from lawsuits filed as a result of any work performed in their profession. Errors and omissions coverage, called E&O for short, is the name associated with real estate liability insurance, which describes a type of malpractice insurance carried by most real estate professionals.

As carefully as you may carry out your duties, you may be at risk of a claim. You can even be held liable in a court of law, even from lawsuits without merit. Lawyers must be paid no matter who wins in court, and the legal expenses alone can be devastating to your finances. Fortunately, when you have E&O coverage, the insurance company defends the claim and pays any settlement or judgment against you up to the limits of liability stated in the policy. This is what makes having coverage so essential.

What does a typical E&O policy cover?

Policies can differ from one insurer to the next, so when trying to decide what type of policy you should purchase, you can use these very basic ideas about standard types of coverage. Most E&O policies cover claims that come about due to error, omission, or negligence in regard to your duties as a real estate agent.

Some common E&O exclusions

  • Claims resulting in dishonest or criminal acts by you
  • Claims associated with polluted property
  • Claims against you if you cause bodily harm or death to another person
  • Claims arising from damage you cause to someone’s property

Remember that it’s important to keep accurate records of all transactions. Keep records of all phone conversations that discussed anything pertaining to a sell or purchase. For example, you should note the buyer response to your question about whether or not they wished to purchase home warranty protection. Did a buyer decide not to do a home inspection against your recommendations? Write this down and put it in your file.

It’s not at all uncommon to ask your buyer or seller to sign a statement that you recommended a specific action. If your files contain a signed waiver, you cannot be held responsible for any problem related to the waiver. Document as many facts as possible during your real estate transactions that could help you later if your client becomes unhappy about some aspect of the sale. Having real estate liability insurance is the best protection against mistakes made or groundless accusations.

Workers Comp Concerns and Car Dealer Insurance

Workers Comp Concerns and Car Dealer Insurance

From the time they open their doors at the start of the business day until they flip over the closed sign and call it a night, auto dealers have a lot of concerns, primarily about safety, since there are many hazards related to operating a dealership. Customers, vendors and an assortment of people are in and out of the lot all day long, and moving vehicles, heavy equipment, and a host of other issues (oily floors, for example) can lead to injuries.

In addition, their most valuable resource, the mechanics and other workers who could fall prey to work-related accidents, are at the forefront of the issues regarding the possibility of severe injuries. Under the workers’ compensation system, employers are required to purchase car dealer insurance that provides benefits to employees who suffer work-related injuries and illnesses.

Employees are provided with benefits regardless of who was at fault, and in return, employers get protection from lawsuits by injured employees seeking money damages for pain and suffering or mental anguish.

State laws govern workers’ compensation

It’s important to understand that each state’s system differs slightly in the details surrounding workers comp insurance, though the structure and operation of the overall workers’ compensation system is very similar from state to state. (There is a separate federal workers’ comp system for those working for the federal government, such as US Post Office employees). The main differences are the rates paid to injured employees and the procedural rules employers, employees, and insurance companies must abide by.

What does workers’ compensation cover?

Workers’ compensation laws cover only work-related injury or illness; however, the injury or illness does not necessarily have to occur in the workplace. As long as it’s a job-related occurrence, it’s a covered event. If an employee is injured while attending a business-related function, traveling on business, or running a work-related errand, he or she is covered.

Covered injuries and illnesses can range from sudden accidents, such as eye injuries, being struck by a car or slip and falls, to injuries that happen over time, such as repetitive stress injuries (RSIs), or illnesses that result from exposure to workplace chemicals, or other pollutants.

For example, workers often receive compensation for RSIs, such as carpal tunnel syndrome and back problems. Workers also receive compensation for illnesses and diseases that are the gradual result of working conditions, including heart conditions, lung disease, and stress-related digestive problems. This illustrates the need for car dealer insurance to aid workers who suffer from an accident as a direct result of work.