Three Types of Protection for your Business If you want to avoid liability issues that could damage your company’s reputation and cause it to close, then it’s a good idea to familiarize yourself with the different types of business liability coverage. Business liability insurance is offered in one of the three forms, including product liability insurance, employer’s liability protection, and public liability coverage. Business Liability Insurance: Three Types of Coverage Product liability insurance protects you [...]
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Not All Homeowners Insurance Policies will Cover Liability with Respect to your Pet While your homeowners insurance may cover your for any liability resulting from an injury inflicted by your pet, you should still read the fine print and not assume that you are fully protected. That’s because some insurance companies are reluctant about covering you for a pet that is considered as an aggressive or dangerous breed. So, make sure the type of breed [...]
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Auto Liability Insurance – What the Numbers Mean Most states in the U.S. mandate that you buy liability insurance for your automobile. The insurance is designed to pay the medical costs and property damages you cause in an auto accident. Limits for auto liability insurance are defined by bodily injury protection for one person and more than one person, and property damage coverage. The numbers, represented in thousands, are often written as, say, 20/30/5, which, [...]
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What is Directors and Officers (D&O) Insurance? Directors and officers liability insurance, otherwise known as D&O liability insurance, is a necessary expense for any company—private or public—that wishes to reduce the amount of risk associated with the decisions its board of directors or officers make. Companies need liability coverage as employee-related grievances make up the majority of business liability claims, particularly with respect to D&O insurance. Plus, if you want your board of directors to [...]
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Auto Liability Insurance – Required Coverage Every state requires that you purchase a minimum amount of auto liability insurance. However, the minimum amount of auto liability insurance required by your state may not be sufficient if you are involved in an auto accident. Depending on where you live, what you must buy in minimum coverage can vary a good deal. Coverage is presented by three numbers. For example, if you live in a state that [...]
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Avoid a Lawsuit – Buy Liability Insurance if you are Small Business Owner Are you a small business owner? Then, if you currently don’t have liability protection, you need to look into buying the insurance. Liability insurance, basically, will cover you from mishaps, losses, or circumstances that can obligate you to pay damages legally. It’s imperative to obtain the coverage if you are self-employed or a small business owner to avoid a lawsuit. Liability Insurance [...]
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The Definition of Personal Injury Protection If you are a registered nurse who has taken out medical malpractice insurance, otherwise called professional liability insurance, you may also be offered coverage by some insurers as well in the form of personal liability insurance or personal injury protection. Personal injury protection is offered for nurses to cover alleged injuries that happen during the time a nurse is working. This insurance covers injuries that are not related to [...]
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Legal Costs for your Defense – See How your PLI Policy Manages the Expense If you work as a registered nurse, then it’s good to understand what legal costs are covered as well as the claims process itself if you must use the coverage of your professional liability insurance (PLI) in order to defend yourself against a patient’s claim. What some nurses don’t realize is that the legal expense you incur can either be included [...]
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Distinguishing Between “Occurrence” and “Claims Made” Policies If you work as a registered nurse (RN), you need to purchase professional liablity insurance to safeguard yourself against any claims made about you professionally by a patient. To understand the basics of this type of insurance coverage then, it’s essential to distinguish between “occurrence” and “claims made” policies. For example, an “occurrence” professional liability policy covers nurses for any claims of negligence that happen while the insurance [...]
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Commercial General Liability Insurance: The Basic Coverage Commercial general liability insurance, also referred to as CGL insurance, is important insurance coverage for business owners as it keeps a business from ruin as the result of a lawsuit. Basically, commercial general liablity insurance (CGL insurance) provides remuneration and protection for claims for bodily injury, property damage, personal and advertising injury, tenants legal liability, and medical payments insurance. Bodily Injury and Property Damage Coverage With respect to [...]
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