Cyber Liability Questions Every Business Should Ask

November 18, 2021 Blog

If you own a business, you know the importance of minimizing risk. What about your cyber risks? Are you prepared to deal with liability for any data breach or hacking that might happen? How will this affect day-to-day operations and your bottom line if it occurs? It’s important to have an understanding of what can happen in the event of cyber incidents so you’re equipped to mitigate them. Protecting client information and the reputation of your business is paramount to the success of your business!

best business cyber liability insurance

Cyber liability risk experts from Business Insurance Center are to help by providing insight on some of the most important things that should be considered when deciding if your cyber liability measures are enough and if your cyber risk insurance includes the proper coverage. Cyber attacks are becoming increasingly common, so there is no time like the present to get up to speed with this valuable knowledge!

 

What Businesses Need to Know About Cyber Risk Insurance

The value of protecting a business against cyber risk is significant, and often the damages are more than just financial. When a data breach or other event occurs in this field it can have lasting effects for businesses no matter how big they may be. Private and public entities alike may suffer serious consequences, from lawsuits to loss of faith. Thus, company leadership should play an active role when making decisions about security measures. Consider the following questions regarding your business’s cyber protection policies and procedures.

  • Has the organization discussed and formalized a business cyber risk budget?
  • Does your business utilize proper technology to prevent data breaches?
  • Do you have or are you considering purchasing cyber liability insurance?
  • Has your management team provided cyber protection employee training to ensure sensitive data is handled correctly?
  • Does your business have a data breach response plan in place?
  • Do you have a comprehensive cyber security program for businesses?
  • Has your leadership team taken the appropriate steps to reduce third-party cyber risks?
  • Do you have a plan or process for staying current on cyber trends, cyber risk news, as well as federal and state data security regulations?
  • Have you appointed a senior team member to be responsible for organizational cyber security preparedness?
  • Have you conducted a cyber risk management analysis to determine where your protection gaps may need strengthening?

If your business leadership team analyzes the answers to these questions, you’re well on your way to having the most comprehensive cyber protections in place for your business. These cyber breach protections are critical for maintaining your company’s reputation and the safety of your valued clients.

Best Cyber Liability Insurance Near Me

Business owners need to be aware of the various cyber risks that are out there. Whether it is a data breach, ransomware attack, or any other cyber attack, you need to know what your cyber risk liability is and how much you should invest in protection. In the battle against cyber risk, Business Insurance Center is your best ally! Call or click to contact our experienced business cyber risk insurance agents today, we’re waiting to help protect your business with affordable cyber risk insurance!

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How To Protect Your Business from Winter Liability Risks

November 18, 2021 Blog

Winter is a major time of year for business owners to take precautions against winter liability risks. With the holidays and winter weather come unique risks of liability for property damage, slip-and-falls, or accidents on your premises. Such liability risks and resulting legal consequences could spell the end of your business, small or large. Protect your business with a thorough knowledge of how to mitigate liability risks for businesses during the winter months.

Tips to Avoid Winter Weather Liabilities for Businesses

Here, Business Insurance Center experts share some tips to protect your business from winter liabilities and what risks you may be facing this winter season.

Winter Storm Protection for Businesses
Winter storms can wreak havoc on your business property but can also create potential hazards for which you’re liable. If clients park outside on your property or walk to your storefront, they may encounter downed trees or branches, potholes, debris, damage and danger from gusting winds, snow build-up, and ice.

must have business insurance

Liability Insurance for Slips, Falls, and Other Accidents
With slick, wet, icy, or snowy walkways come the risk of accidents or falls on your property that result in injury. Protect your business from lawsuits and injury claims by ensuring proper removal of snow, ice, and debris. Take steps to prevent ice build-up on sidewalks and entrances. Make sure your outdoor property is in good repair to avoid tripping or slipping hazards, and that your indoor floors remain dry.

Necessary Insurance Coverage for Businesses in Winter
While you may have accounted for every potential accident or injury on your business property during winter, life still happens! It’s imperative to have comprehensive business insurance coverage without any gaps that leave your business vulnerable. Check that your business umbrella insurance or general liability insurance plan covers risks that are particular to the winter season. You’ll want to ensure that property damage and personal injury insurance is included, as well as workers comp insurance (winter accidents may involve employees too), and business interruption insurance. Set your business up for success through risk management and business insurance planning with the experts at Business Insurance Center! We can help determine where dangerous gaps may exist in your coverage and obtain proper business insurance winter coverage.

Best General Liability Insurance Near Me

The Business Insurance Center is here to help protect you and your business with business liability insurance that you can purchase for just a few dollars per day. What is general liability insurance for businesses? Liability insurance protects against lawsuits over injuries or damages by a business, harm to reputation, errors in advertising, and property damage. It also covers accidents that occur on property owned by the insured business, including related medical costs, bodily injury costs, and legal defense costs in the case of litigation. If this sounds like a good way to protect your business against potential winter weather liability risks your business may face, contact Business Insurance Center now. We provide affordable general liability insurance for businesses of all sizes and types. Click or call our top rated business insurance agents today!

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Crop Insurance 2021

October 18, 2021 Blog

Did you know that the average farm in America has a 50% chance of going out of business in any given year? In the best of times, farmers and agribusinesses are faced with challenges on a daily basis. The weather can be disastrous and as we’ve seen in the past year, life can be unpredictable. That’s why it is important to invest in crop insurance! Today, the Federal Crop Insurance Program protects more than 70 percent of insurable farmland which comes to a whopping 282 million acres! The program provides hundreds of millions of dollars in indemnity payments to farmers each week. Sound like something you’re interested in? Business Insurance Center shares some valuable insider information all about crop insurance and how it can be just the financial protection your agribusiness needs!

What is Crop Insurance?

Crop insurance can help protect against losses from unpredictable weather events by reimbursing your crop when the actual yield falls below an established threshold yield level. When you combine this coverage with our other risk management services, like crop scouting or field-specific consulting, then you have more peace of mind knowing that your crop insurance investment not only meets your needs but also protects against unforeseen circumstances too!

Benefits of Crop Insurance 2021

You’ll see several benefits from obtaining comprehensive agricultural insurance that includes crop insurance coverage. Investing at least some funds into this type of coverage is beneficial if you want peace of mind for your family’s livelihood.

Financial Stability with Agribusiness Insurance
Farmers who insure their crops have the ability to engage in long-term business planning because of the relative stability of your cash flow. The amount of money invested in crop insurance will depend on the type and location of crops being grown but it will remain a stable and constant price that will reduce overall costs in the long run.

Turning a Profit in Agribusiness 2021
One of the most reliable predictors of an agribusiness’ ability to turn a profit each year is crop insurance. With the weather being unpredictable and accounting for one-third of crop losses annually, it’s imperative to have a plan in place that will reimburse you for potential financial losses.  why get crop insurance

Getting Agribusiness Loans 2021
Crop insurance enables farmers to borrow money more easily because it provides the proof lenders need that you are going to be able to repay loans. With access to loans, you have the ability to purchase new technology or equipment and invest in innovative trends which often lead to higher yields. What better way to grow your agribusiness?

Importance of Agricultural Insurance

Without adequate insurance, a farmer could lose everything if their crops are hit with extreme weather conditions. The cost of crop insurance 2021 may seem daunting at first but the truth is that you’ll save money in the long run by investing in this type of coverage. There are many different types of agribusiness insurance policies available, so make sure to shop around and find one that best suits your needs.

Do you still have crop insurance questions such as: How are crop insurance prices set? What triggers a crop insurance audit? How much does crop insurance cost? What crops are eligible for crop insurance? We hear you and we’re here to help! For answers to these questions and for more information about how crop insurance can protect your farm business from unforeseen events, contact our team at Business Insurance today!

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Equipment Breakdown Insurance 2021

October 18, 2021 Blog

Farmers, ranchers, and agribusinesses can be faced with a lot of expenses when it comes to equipment and it’s vital that you have the right coverage in place. One way to save money in the long run is by adding equipment breakdown coverage to your agribusiness insurance policy. Equipment breakdown coverage will pay out a predetermined amount of funds if your tractor, combine, or other machinery breaks down and needs repair. This can be a great option for the agribusiness world where an unpredictable income makes life difficult! With comprehensive equipment coverage, it’s possible you may need a payout only once every few years, but the insurance may need to cover numerous expenses over time! Yet how do you choose the right protection plan for your equipment? Business Insurance Center lets you in on all the important insurance takeaways about equipment breakdown insurance policies 2021.

best agribusiness insurance

Is Equipment Breakdown Coverage Worth It?

Over the years we’ve seen innovations come onto that market that have made life and work much easier through automation. However, the downside to our innovations is the threat of system failure due to fragile and sensitive technology. Your business depends on functioning equipment to operate and maintain revenue, which means that a breakdown could be devastating. All this leads us towards one thing: proper agribusiness insurance coverage or commercial property insurance against these types of losses to protect your business from financial risks. You’ll pay less in the long run for proper insurance coverage for equipment malfunction or breakdown than you will pay out-of-pocket to cover such expenses. You’d be surprised at some of the unexpected expenses that can come with breakdowns and even more surprised to see the numerous expenses you’ll be reimbursed for with a comprehensive agribusiness insurance plan!

What Does Equipment Breakdown Insurance Cover?

It is important to understand the coverage you receive with your commercial property or agribusiness insurance coverage, as well as what your policy might not cover automatically, such as equipment breakdown!

Typically, the following is covered under an agribusiness insurance policy which includes an equipment breakdown insurance plan:

  • Property Damage – Cost to repair or replace damaged equipment due to an accident.
  • Off-Premises Property Damage – Covers portable equipment damaged away from the covered location.
  • Business Income – Covers the loss of income as a result of a covered accident until equipment is repaired or replaced. Also allows for additional time after repair or replacement to ensure that the business is operating at full capacity.
  • Contingent Business Income – Covers income loss after an equipment breakdown at an essential customer or supplier location.
  • Extra Expense – Covers additional expenses used to keep the business going after a covered loss, such as equipment rental fees.
  • Service Interruption – Covers business income and extra expenses after a breakdown at a supplier with whom the insured has a contract.
  • Perishable Goods – Covers food spoilage, manufactured goods or other perishable items after a covered incident.
  • Demolition
  • Ordinance or Law – Covers costs associated with complying with building codes and laws (other than demolition).
  • Expediting Expense – Covers the temporary or permanent repairs necessary for basic business activity.
  • Hazardous Substances – Pays to clean, repair or replace areas that are contaminated by hazardous substances released in a covered loss.
  • Brands and Labels – Reimburses for the loss when having to sell a damaged product for less than retail price.
  • Waive of In-Use Restriction – Pays for damaged equipment that was not in operation at the time of a covered accident.

If you hold an older policy, you may want to review it with Business Insurance Center to be sure it covers any new, high-tech equipment you may have purchased.

Best Agribusiness Insurance 2021

When you need your equipment reliably up and running, a breakdown could be disastrous. The risk is so great now that even with standard property insurance coverage it’s not enough- which means any downtime will cost you money! That leaves only one option: buying equipment breakdown insurance in your agribusiness insurance policy, tractor insurance, and comprehensive commercial property coverage from reliable companies like Business Insurance Center. We’re here to answer any questions you may have about business insurance and provide expert insurance advice to set your financial future up for success!

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Fleet Safety Guide

September 30, 2021 Blog

Running a business is hard. Running a successful business in today’s market can be even harder! An incomplete plan in one area of your company could cost you everything. That’s why it is so important to make sure that every aspect of your company is safe from harm, including your fleet employees and vehicles. Fleet safety isn’t always something that small businesses think about when they start up, but as time goes by and the company grows, there are more moving parts to keep track of and more people involved in day-to-day operations. One of the most important “moving parts” is a solid safety plan for a commercial fleet. Here, insurance experts from Business Insurance Center share some fleet safety program tips designed to keep all aspects of your fleet safe and sound!

Fleet Driver Safety Program

One reason that fleet safety is so imperative is that traffic-related motor vehicle accidents are the leading cause of work-related fatalities. We know how much you value your employees’ safety and when you put into place a fleet safety program, you’re working to reduce unnecessary injuries and situations that may lead to even worse consequences. The best fleet safety principles start with hiring and encompass every step of the way after that.

commercial fleet safety tips 2021

Best Practices for Hiring Fleet Drivers
It’s vital to get the right employees for your trucking company, delivery service, or any business that requires a vehicle fleet. Screening and selection of fleet drivers is key! Recruitment procedures for commercial fleet drivers should require a prospective employee to list past driving experience, employers, and types of vehicles driven; list references; and notify you of any motor vehicle violations. Of course, you’ll want to conduct a formal interview, background check, review their motor vehicle record (MVR) and conduct drug and alcohol screening. Only qualified candidates who clear all of these requirements should be considered.

Fleet Driver Safety Training
Another important component to increasing safety of commercial fleets is to mandate a driver safety program for employees. Programs could consist of classroom and on-the-road modules. The best fleet employee training also focuses on defensive driving techniques and behavior modification. You can monitor driver habits to identify potentially unsafe driving habits that require additional training.

Establishing Written Policies and Procedures for Commercial Fleets
Best safety practices for commercial fleets include clear communication of and training on your company’s fleet safety program. All employees should have access to a written safety program for trucking company, delivery service, or any industry which involves fleet vehicles. Having a fleet safety compliance manual is an effective way of communicating what you expect of employees who drive business vehicles. Many fleet safety programs are DOT regulated or comply with OSHA fleet safety regulations. These typically include all driver expectations, procedures for handling and reporting vehicle breakdowns or accidents, consequences of driver failures/damages, and so on.

Rules and Tips for Fleet Driver Safety
Make sure to continually check on fleet driver conduct, ensuring that they are following basic vehicle operation principles. Commercial fleet employees should be expected to follow these to demonstrate responsibility, protect themselves and other drivers on the road, and reduce the likelihood of accidents.

  • Always use seat belts
  • Drive defensively and never aggressively
  • Respect speed limits and traffic laws
  • Always lock the vehicle and apply the parking brake
  • Take breaks every four hours during long trips and never drive more than 10 hours in a 24-hour period
  • Avoid driving past midnight, in inclement weather (when possible), and when tired
  • Do not drive distracted, never text while driving, avoid phone calls, only using hands-free devices for necessary phone calls
  • Maintain the cleanliness of the vehicle

Fleet Vehicle Maintenance
Having an established plan for fleet vehicle inspection, maintenance, and repair is another good way to increase fleet driver safety. Having vehicles that are well-cared for and current on all maintenance reduces the potential for malfunctions or breakdowns that may result in accidents.

Commercial Auto Safety Guidelines

You won’t be able to prevent every accident or stop every vehicle malfunction. What you CAN do to protect auto fleet drivers and reduce commercial fleet accidents is follow these helpful tips for fleet safety. For everything else, there’s comprehensive commercial fleet insurance! Call the Business Insurance Center today, where we insure commercial fleets across the United States. We’re committed to providing fleet insurance coverage that doesn’t leave any gaps. Insure where it matters most: your employees and the financial future of your business!

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Pollution Liability Insurance for Contractors 2021

September 30, 2021 Blog

Every day, contractors face the challenge of safely managing environmental contamination. Contractor reputation can be damaged by single environmental incidents or gradually over time; in some cases, these issues could result in financial loss and even bankruptcy proceedings if not handled correctly. As a contractor, you may be unaware of the risks that come with environmental claims. The unfortunate reality is most commercial general liability (CGL) policies only protect against intentional acts and omissions, or contain exclusions so the policy is not liable when things go wrong environmentally. This leaves contractors at risk for pollution caused by accidents or malfunctions in equipment and vulnerable to pollution-related lawsuits if your work has a negative impact on the environment.

contractors pollution liability insurance

So what’s the solution? How do contractors protect themselves against pollution liability? Many contractors are turning to contractors pollution liability insurance (CPL) from companies such as Business Insurance Center, to get the right coverage in place to remain secure and profitable.

What is Contractor Pollution Liability?

CPL policies offer insurance coverage for environmental situations potentially arising from contracting operations performed by a variety of contractors. This may include:

  • Exposure risks related to site and dirt work, such as excavations, paving, landscaping, drilling, or digging holes
  • Moisture protection against chemical use or materials laden with dangerous particles
  • Disturbance of existing materials when removing/demolishing, which may expose toxic properties or substances
  • Remediation of polluted sites

Insurance for pollution liability for contractors usually covers all types of contracting operations, including contractors who are involved in building construction and environmental firms that remediate polluted sites, to name a few.

What Does Contractor Pollution Liability Cover 2021?

When deciding on the best pollution liability insurance, it’s important to investigate what your plan may cover, as they are not all the same. Some factors you may want to consider include whether the CPL policy covers:

  • Bodily injury coverage for third-parties
  • Property damage and defense against potential environmental damage
  • Cleanup costs as a result of sudden or gradual pollution incidents
  • Losses from civil fines, penalties, and punitive damages
  • Sudden or gradual release of pollutants (some offer full coverage for both, some cover only one or the other)
  • Specific substances that are considered pollutants under the plan
  • Sites or contracts that require a CPL insurance policy that covers predetermined standards

CPL insurance plans are not a one-size-fits-all situation. The best companies for contractors pollution liability plans offer nonstandard policies, where each plan is different and can be modified to cover the specific needs of the contractor. Contractors can select a project-specific policy as a one-time use plan or a comprehensive contractors pollution liability policy for those who consistently work with environmental pollution risks. Additionally, plans can be based on claims-made or occurrence basis. You would be wise to consider a policy that covers the particular pollution risks associated with your area of expertise.

Best Contractor Pollution Liability Insurance

Business Insurance Center has all the top rated CPL insurance policies on the market in 2021. Our friendly insurance agents are standing by, ready to guide you through the process and ensure you get the best contractor pollution liability policy for your protection. Let us take care of the details so you can focus on your projects and make your customers happy! Learn more about our customized and comprehensive coverage for Pollution Liability with a click!

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Employee Focus During Covid-19

September 02, 2021 Blog

Covid-19 has made a major impact on the business world, and we have barely begun to understand or experience its effects. Many businesses had to transition constantly over the past 18 months with layoffs, closures, flex scheduling, remote work opportunities, and so on. More employees are working from home than ever before, so employees now face new challenges such as balancing family responsibilities while still contributing meaningfully at work. Additionally, employees have to deal with the stresses that come along with an unstable work environment. As these changes continue in our lives and unfold this year, it will be crucial for companies to maintain trust and confidence within the company culture to stay productive and successfully support employees.  Here, Business Insurance Center shares some best practices for maintaining employee trust within your company during these trying times.

COVID-19 Employee Support Best Practices

Creating a company culture of wellness, trust, and respect during difficult times is an integral part of your business’s success. As an employer, you can take a few simple steps that go a long way in maintaining trust, productivity, and engagement in the workplace (even if it’s a remote workplace!).

1.Maintain Open Communication and Transparency

During a time like this, it is imperative to communicate with your employees on a consistent basis and make them feel included in the process of dealing with these new challenges you are facing together. Having a daily check-in with your employees is a key part of communication and success. This could be via phone, FaceTime, Zoom, or in-person. It’s a great idea to hold both one-on-one communications and group meetings to continue to build a sense of trust and community. Covid-19 has been an isolating time for many people, so encouraging camaraderie will go far in terms of employee and company wellness. Engage your team members by asking questions about how you can help or what’s working or not at different levels within your organization. This will enable potential concerns to be voiced before escalating into bigger issues. Be honest, transparent, and direct about important plans or changes within the company.

  1. Be Consistent

With so many elements of work and life constantly changing, your employees need to know that you are a stable, reliable, and consistent force within the company. This may be challenging during so much instability but your consistent reactions to situations and thinking through each decision builds priceless trust amongst your employees. Knowing what to expect from you provides a sense of security.

  1. Provide Wellness Benefits

Your employees are likely feeling a lot of stress and unease during this time and a way to counteract this is a focus on mental and physical health. Genuinely caring about the wellness of your employees also naturally develops rapport and trust. You can demonstrate this to your employees by providing ample opportunities for them to practice wellness. Offer gym or yoga studio memberships, include therapy in your benefits package, allow extra breaks for a walk or meditation session, encourage employees to share resources for stress relief and wellness ideas.

  1. Protect Data with Cyber Insurance

There is no quicker way to lose the trust of both clients and employees than a data breach. Such a breach can be catastrophic for your business reputation as well as that of your employees. With so many employees now working from home, the risk potential for a cyber breach has exponentially increased. The most effective way to safeguard against this is a solid cyber insurance plan from the Business Insurance Center. Cyber insurance can help with prevention as well as protection for everyone involved in the event that such a disaster occurs. Additionally, having a cyber breach policy naturally builds trust with your employees and clients alike.

Strategies to Support Employees

Covid-19 created a world of change for businesses in the past 18 months. Many companies have had to make changes, such as laying off workers or restructuring. The effects we’ve seen may be only scratching the surface – there will likely continue to be many more transformations over time within this ever-changing environment. Work culture may have felt unstable or scary at times for employees and these new shifts may have affected their trust with management. Yet you can counter the effects of the pandemic by employing these simple strategies for employee engagement during Covid-19. The Business Insurance Center team is here to support you and your employees on this journey by providing a stabilizing comprehensive insurance and benefits plan. Call or click now and we’ll put together a customized benefits package designed specifically for your employees and business. 

 

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5 Best Insurance Coverages for Businesses in 2021

September 02, 2021 Blog

When someone talks about “business insurance,” what generally springs to mind isn’t a way for small businesses to grow. Yet insurance is one of the best ways for you, as a new and growing business owner, to establish yourself as a successful entrepreneur by providing a safety net in case anything goes wrong. Even if you’re a seasoned pro at small business, or are expanding your business, it’s important that you educate yourself on different types of insurance policies available so you can make informed decisions about which ones will protect your company from various perils before they arise. Recent times have greatly changed the way we do business and in 2021, it’s crucial to stay ahead of potential risks. The Business Insurance Center is here to explore five essential types of insurance coverage– no matter what kind of business you run. 

business insurance for small businesses

2021 Best Small Business Insurance

To set your business up for success, you may want to look beyond the business insurance required by law. While small insurance requirements vary by state and industry, many employers choose to go above and beyond the minimum out of an abundance of caution for the business and employees alike. Just make sure you know what kind of protection best suits your industry and business’s needs before making any decisions on what to invest in and who will provide your company’s policy. 

General Liability Insurance for Small Businesses

In plain terms, general liability insurance protects a small business from losses or lawsuits related to your business. It also covers various types of claims including defective merchandise or services and product or operations liability. This type of coverage typically includes medical expenses and attorney fees in the event you are legally responsible for a bodily harm claim or property damage. It’s most beneficial to select a policy that includes the four main components:

  • Premises liability: covers expenses related to lawsuits of a non-employee who is injured on your business property.
  • Personal injury: protects against lawsuits related to a third party suing for physical, financial, or mental injuries. 
  • Advertisement injuries: deals with misinformation, copyright claims, slander, etc., lawsuits against your company.
  • Products liability: guards against claims related to injury caused by your goods or services

 

Workers’ Compensation Insurance

Injuries, illnesses, or other physical ailments from the job are covered by workers’ compensation insurance. If an employee is hurt or killed while performing his/her duties, this coverage will pay them for lost wages and medical bills as well as a portion of their income if they can no longer work. Injuries happen even in workplaces where all possible safety precautions have been taken, so it’s important to have workers’ compensation insurance so employees who are injured aren’t left without the financial resources they need to get back on their feet again. If you want to make sure that your employees are properly taken care of, then worker’s compensation is a necessity rather than an option. For you as the business owner, workers compensation insurance protects from civil suits made by disgruntled workers who feel they have been treated unfairly. Additionally, it’s a successful way to demonstrate your loyalty and concern for your employees. 

Commercial Property Insurance for Small Businesses

Commercial property insurance is something that every business owner should have. It doesn’t matter if you’re leasing space or own it outright, commercial property coverage can be a valuable asset for your company in the event of unforeseen disasters such as theft, fire, and other related events. Commercial property insurance usually covers not only building damage but also equipment used to perform day-to-day tasks like computers, furniture, industry tools – everything necessary for running a successful operation! The best business insurance agencies offer a stand-alone policy for commercial property or as a part of a comprehensive business owner’s policy that includes commercial buildings and property. In some cases, it may also be offered in an all-inclusive package to cover losses from natural disasters such as fire damage or storm/hurricane-related destruction. Commercial property policies are usually available on either replacement cost basis – which pays the actual cost needed to replace any items with like items without regard for depreciation. The other form of reimbursement is current market value. This includes deducting costs based upon wear and tear over time, or its actual cash value.

Cyber Liability Insurance for Businesses

Cyber liability insurance is a must for any company that operates online. This type of coverage protects your business from cyber attacks or interruptions causing a loss in data, revenue, and trust with customers. Cyber liability insurance protects internal business, financial, and employee information (by covering first-party losses) as well as customer’s information (covering for lawsuits or other third-party injuries resulting from a cyber attack). With a small business cyber liability policy, your business will have an added layer of security. This is a must in current times so that you and your customers feel confident doing commerce on an internet platform.

Employment Practices Liability 2021

Employment practices liability insurance (EPLI) is a form of employment-related policy that covers wrongful acts which occur during the hiring process. The most common types of related claims include discrimination, wrongful termination, sexual harassment, and retaliation. Business EPLI policies will pay for your company’s legal fees in defending against lawsuits as well as judgments or settlements if you lose the suit. It is important to note that these policies typically do not cover punitive damages, civil fines, or criminal penalties. 

Insurance for Small Business Owners

When it comes to small businesses, there are plenty of pieces that can fall through the cracks. That is why Business Insurance Center has been a business insurance provider for over 30 years, specializing in providing comprehensive and customized coverage so you don’t have to worry about anything but your company! Call or click for more information about how we can help you protect your greatest asset! 

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Business Insurance for Remote Employees in 2021

September 02, 2021 Blog

The recent pandemic has resulted in major changes across the globe, particularly in how we conduct business. One of the biggest differences is the massive increase in virtual employees, which perhaps has forever amended the way business will be done in modern times. Many companies are choosing to continue with a combination of at-home workers and business-side employees, allowing for flex scheduling, or making the decision to go entirely remote. While this flexibility allows for newfound growth and restructuring that can be greatly beneficial for companies, it also comes with its fair share of difficulties. Adjusting to these changes definitely involves a learning curve! One of the most important takeaways: remote workers often increase insurance risks.

Just a year ago, the number of people who were working remotely was just a fraction of what it is today, and having the right insurance protections in place is imperative for your company, your employees, and your customers. With that in mind, certain guidelines should be followed with remote worker insurance to maintain the security of your company and its staff. Recently, the focus of insurance for businesses has evolved into more coverage for workers who telecommute or work from remote locations. Here, Business Insurance Center examines the most important insurance policies for companies with remote workers.

remote workers insurance

What Business Insurance Do I Need for Remote Employees? 

One of the biggest concerns for businesses is about covering your assets. To that end, having proper insurance policies for remote workers is key. The top insurance for remote employees includes a few of the regulars, along with others that are specific to remote workers. 

General Liability Insurance Plans 2021

As we’re learning, these are new times in business and with that come new risks in liability, some of which we aren’t even aware of yet! General liability insurance for remote workers protects your cherished business from ALL such risks. This coverage includes advertising injury, personal and property injury or damage, medical expenses, lawsuits, and other issues that arise which put your business in jeopardy.

Cyber Liability Insurance for Remote Employees

For companies with remote workers cyber liability coverage is particularly essential in keeping your assets safe. A data breach, if not prevented, can cause a company to lose money and resources. Cyberattacks are far more likely to occur if your employees are off-site, without your normal company computer protections in place. Having the right cyber liability plans for remote workers means that any damage arising from attacks will be covered by your insurance. Additional security measures should also be put in place such as an encrypted virtual private network (VPN) through which workers access company resources and applications with strong passwords for authentication, antivirus software, firewalls and regular updates and upgrades of IT infrastructure. Prevent malicious outsiders from accessing sensitive files, business and customer data, and communication lines. 

Remote Employee Workers Compensation Insurance 

It may seem strange that this is still an essential need for businesses when workers are remotely located but there are plenty of reasons why it has become more important than ever before. Injuries and illnesses don’t disappear simply because your workers are remote! As mandated by most states across America, workers comp insurance covers the costs of work-related injuries, including loss of wages and medical expenses. How does workers comp work for remote employees? Employees must prove that the injury or work-related illness occurred performing work duties during business hours, regardless of whether they were working remotely or at the business itself. 

Commercial Property Insurance for Remote Workers

Again, this insurance may seem counterintuitive for remote workers, however, commercial property includes any equipment or assets belonging to the company, used both on and off-site. Update your commercial property insurance so that company-owned equipment used by remote workers in their homes is included.  

Insuring a Business with Remote Workers

Business Insurance Center provides the most comprehensive business insurance packages for remote workers on the U.S. market today! We have built our stellar reputation on having our finger on the pulse of the insurance world and we recognize the growing trend of employing remote workers. Your business insurance shouldn’t end at your business’s front door! Protect your most valuable assets: your employees and your company with the best insurance plans for remote workers from BIC. Growing and changing with current times is the wisest move you can make for your company and Business Insurance Center is with you every step of the way!

Call or click today and update your policy to include remote workers or create a customized insurance plan for remote employees. Self-employed? We provide work from home insurance plans for you too! Get a free business insurance quote today! 

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2021 Cannabis Business Insurance

September 02, 2021 Blog

One of the most trending business ventures in the United States currently is the cannabis industry. Recent Farm Bill amendments and various other legal changes in the industry have enabled cannabis businesses to grow exponentially. Pretty fantastic news for the millions who use cannabis products and amazing new potential for cannabis business owners, right? 

An important element to “growing” your cannabis business is protecting this cherished asset. It’s imperative to have a comprehensive cannabis business insurance policy in place to safeguard your investment. Does this raise some questions? We get it. The Business Insurance Center has extensive experience in the insurance industry and we stay at the forefront of our field with unrivaled knowledge of current insurance needs worldwide. Here, we break down all you need to know about cannabis business insurance 2021

cannabis business insurance

What is Cannabis Business Insurance?

While the demand and legality of cannabis products are increasing, the legal ambiguity between state and federal laws makes the cannabis industry a difficult one. The cannabis industry faces unique challenges, risks, and legal hurdles which make many insurance companies shy away from cannabis insurance coverage. However, in 2021, several cannabis insurance carriers have emerged to provide much-needed insurance for the cannabis industry, specifically built to address cannabis industry issues. Business insurance for cannabis companies typically covers every aspect of the growth, production, manufacturing, advertising, and selling of cannabis products. Most cannabis insurance programs also protect against common legal woes associated with the cannabis business. 

Why Have Insurance for Cannabis Business?

Banking regulations, harvesting and processing cannabis, fire dangers, customer liability,  injuries, lawsuits, theft, illnesses, liability, vandalism, loss of income, crop failure, workplace accidents, and property damage are just a few of the hardships present in the cannabis industry. Sounds pretty daunting, right? That’s why it’s so important to have reputable cannabis insurance companies by your side, helping safeguard your assets.

What Does Cannabis Business Insurance Cover in 2021?

Cannabis insurance coverage comes in a variety of forms, greatly depending upon your specific cannabis insurance plan. You may choose one policy that provides all you need for your unique cannabis business, or a combination of coverages to form a comprehensive plan for complete peace of mind.

Commercial liability coverage typically includes:

  • Public and Pollution
  • Bodily Injury and Property Damage
  • Non-Owned Auto
  • Employers Liability
  • Tenants Legal Liability
  • Incidental Malpractice
  • Errors and Omissions Liability
  • Product Liability
  • Government Instructed Recall

Commercial property coverage may include:

  • Contents of property 
  • Tenants Improvements
  • Stock
  • Operations Extensions
  • Off Premises Extensions
  • Claim Recovery Extensions
  • Business Expansion Extension
  • Valuation and Loss Settlement Extension

Cannabis business interruption insurance: Solutions for the consequential losses arising out of loss of the insured property.

Crime protection for cannabis businesses: Insurance policies to protect against employee dishonesty, employee or outside robbery, counterfeit papers, and depositors forgery, to name a few.

Legal expense insurance for cannabis businesses: This covers legal resources, advice and indemnity for taxes, legal defense, compliance and regulation laws, and so on.

Cannabis Business Insurance in 2021

The cannabis industry is hard enough. Let insurance agencies like the Business Insurance Center share the burden and do the heavy lifting now and then! Call or click to explore your cannabis insurance options with our expert team at the Business Insurance Center today.

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