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Content tagged with "business insurance"

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What is Cyber Liability? And do I need it?

Cyber Liability offers first party (your loss) and third party (your customer's loss) coverage associated with e-business, the Internet, networks and other electronic assets and information.

How are workers compensation premiums calculated?

Worker's Compensation premiums are determined by multiplying a state set manual rate by the amount of estimated payroll (measured in $100 increments), times your individual experience rating modification.

What is Cyber Liability Insurance?

Cyber liability insurance protects you and your small business from the financial risk of having your IT systems compromised, including legal damages for which you may be held liable.

What does Cyber Liability Insurance cover?

Cyber liability insurance covers a variety of costs affiliated with cyber security threats, including the ability to pay legal fees and fines for damages, the cost to regain control of your systems after a ransomware attack, and even the ability to replace revenue your company lost due to a cyber-attack. Review your needs with a cyber liability insurance agent to determine your suitability before deciding on the coverage you need.

How much Cyber Liability Insurance do I need?

Determining the amount of cyber liability insurance you need depends on several factors. You should consider where your small business may be vulnerable, look at several options from different cyber liability insurance providers to get an idea of the options that are out there, and then consult with a specialist to find the best fit for you.

Why do I need Cyber Liability Insurance?

If your day-to-day operations depend on email, internet access, or any form of e-commerce, you are at risk of becoming the victim of a cyber-attack. Cyber liability insurance is the only way to ensure that you are financially protected in the event of any number of catastrophic data or security breaches.

What does General Liability Insurance cover?

General liability insurance can cover the costs you and your business may be liable for in the event of bodily injury to a third-party or by intellectual harm such as libel, slander, and copyright infringement. This includes legal and defense fees, medical expenses, and other damages you may incur.

How much is General Liability Insurance?

General liability insurance cost varies depending on your business’ needs and risk exposure, but typically costs between $X-$XX per month. You can also save by bundling coverage, and an independent general liability insurance expert can help match you with the best price points for your need.

How is General Liability Insurance calculated for Contractors?

There are a variety of factors considered when calculating general liability coverage for a contractor. These considerations are often called “the total risk of the job” and include things like the physical job site, material cost, and potential losses.

What is Workers' Compensation Insurance?

Workers’ compensation insurance is protection for an employee and employer in the event of a workplace or work-related accident. This coverage can include payment for medical bills, disability benefits, and wage replacement.

What is the Workers' Compensation Insurance process?

The claim process starts with filing a report identifying the work-related injury or illness, then contacting your insurance provider and the state’s workers’ comp board and OSHA. If there is a disputed claim, an employee will be required to demonstrate that the injury is work-related.

Can an employer cancel Health Insurance while on Workers' Compensation?

No punitive actions can be taken against an employee with a filed workers’ compensation claim, so coverage cannot be canceled in response to a claim, but there is no general protection for health coverage, and it could be allowed to lapse in some circumstances. Additional filings, such as Family Medical Leave of Absence (FMLA) may be required to provide extra layers of protection.

What does Property Insurance cover?

Commercial property insurance can cover a variety of damages affiliated with natural disasters, fire, and theft. There are multiple types of coverage that protect everything from glass to equipment you take to a job site.

How much is Property Insurance?

The cost of insurance will depend on a variety of factors such as the type of commercial property you are looking to cover, its location, and potential risk exposure.

What is Business Auto Insurance?

Business auto insurance protects your company’s assets from liabilities associated with company owned vehicles, such as accidents and breakdowns.

How much does Business Auto Insurance cost?

Cost will vary depending on the number of vehicles you need to insure, who will be driving company owned vehicles, and a variety of other factors. Speaking with a business auto insurance expert from Ansay is the best way to get an accurate range of quotes.

Do I need Business Auto Insurance for a sole proprietorship?

Although not a legal requirement in all states, business auto insurance coverage for a sole proprietor is very important. As a sole proprietor you lack the layers of protection offered by an LLC or S-Corp designation, putting all of your assets at risk in the event of an auto accident while working.

What does Workplace Violence Insurance cover?

Workplace violence insurance typically covers the liabilities stemming from an act of violence or the real threat of violence against your employees/business. This may include medical and mental health expenses, funeral costs, loss of business, and a variety of other damages and liabilities.

What is Workplace Violence Insurance?

Workplace violence insurance is a policy that protects a company’s liability in the event of an act of violence (a criminal act, active shooter, personal dispute with a client or outside relationship, etc.) taking place on company property, a job site, or a work-related function.

Directors & Officers Coverage

Does your company have D&O Coverage? If not, take a look and see why your company may need this. Please contact an Ansay Advisor for more details on how to make sure you are covered properly!

Salvage Yard Insurance Coverage

What you need to know about properly insuring a junkyard or salvage yard when everything around seems like a potential liability.