Insurance Blog

Employment Practices Liability Insurance (EPLI)

As a small business or startup owner, you are in a highly vulnerable position when it comes to claims of wrongful termination, discrimination, harassment and lots of other employment-related issues. It is vital that you understand all the problems that can arise in such matters, get the appropriate cover with employment practices liability insurance, and ensure that you have the practices, policies, and processes in place that protect your business from allegations. In this guide, we’re going to explain everything you need to know – let’s take a closer look.

Business Owner’s Policy

Business insurance can be complicated. From insuring against fire to employee injuries, it seems like the myriad of risks can be too much to shop for when you are shopping for business insurance. Itemizing these risks one by one and getting insurance for them is one way to go. In New Jersey, for example, you could shop for insurance at an insurance agency for one item and go out of a state of another. You can even go national for some insurances like fire and shop local to New Jersey for others like HIPPA insurance. But most people prefer combining their insurance policies into one convenient policy called Business Owner’s Policy.

There’s no denying that this crazy world has the potential to spring a surprise just when you least expect it. So, whether it’s in business or your personal life, it’s always better to be safe than sorry. Gaining suitable insurance coverage is the best way to provide that financial and emotional safety net. Unfortunately, with so many options out there, finding the right solution can prove to be a hugely daunting challenge. That’s where using an insurance agency comes into play.

When someone enters your retail establishment, there is an unspoken expectation that “common duty” has been taken and that they will be reasonably safe, but, despite the most careful procedures, accidents can happen. When it does, however, you need to be prepared. These are the top accidental claims made by patrons.

As a small business retailer, if someone told you that you needed to protect your business, your mind would likely venture to a number of different tasks. You’d think about ensuring you had the right alarm system installed, or whether your insurance would cover you in the event of a natural disaster— these are the essential protections that most retailers are aware that they need.

Business owners know that protecting your operations, building and contents are vital to your livelihood.

Businesses without commercial flood insurance coverage have three basic choices after flood disaster:

• Pay recovery costs out of pocket
• Incur debt (by borrowing money from the government)
• Close their doors

Getting insurance can feel like trying to choose the lesser of two evils.

Not having enough money available in the event of an emergency sounds TERRIFYING.

And paying some faceless corporation hundreds of dollars a month for coverage you won’t ever need doesn’t sound much better.

So what do you do?