General liability insurance covers small businesses for financial losses due to third-party claims of bodily injury, reputational injury, or property damage to others. It is an essential liability coverage for all businesses, given that all businesses are exposed to these types of risks. If you’re looking for general liability insurance for your business, working with…
Insurance
What Is a Surety Bond & How It Works
A surety bond is a financial coverage guaranteeing the performance of contractual obligations or legal compliance by the party who purchases it. A bond can be requested, legally required, or purchased to show reliability. Surety bonds can serve many purposes, but the ones available are dependent on the project and specific industry. The Hartford is…
Liquor Liability Insurance: Costs & Coverage
Liquor liability insurance provides liability protection for businesses that sell and serve alcohol and helps with claims that come from intoxication. Whether the claim is for damage or injury, the business can be legally liable for providing alcohol to the intoxicated customer. Liquor liability can be expensive, with the cost potentially ranging from $200 to…
6 Best Special Event Insurance Companies
If you are hosting or participating in an event, special event insurance protects you against guest injury, third-property damage, loss of gifts, and even cancellation. Using our evaluation system focusing on financial stability, customer satisfaction, convenience, and policies offered, we reviewed over a dozen insurers to find the six best event insurance companies. : Best…
What Is Public Liability Insurance?
Public liability insurance protects a business if a third party, like a customer, claims they were injured or have property damage because of the insured business. In the U.S., public liability is an older form of liability that most insurance companies no longer offer, having rolled its coverage into the broader commercial general liability (CGL)…
5 Types of General Liability Claims & How to Avoid Them
Without commercial general liability (CGL) insurance, you’d have to pay for claims out of pocket. Fortunately, a general liability insurance policy can mitigate those expenses when they arise. However, when evaluating premiums and even determining insurability, insurers will consider a number of factors, including your claim history, so it is in your interest to do…
Workers’ Compensation Dividend Plan, Qualifications & Types
A workers’ compensation dividend plan, or participating plan, is a way for employers to take part in the profits earned by their insurers. Basically, dividend plans reward employers for having fewer claims, and many employers choose them to save on their workers’ compensation insurance. How Workers’ Compensation Dividend Plans Work A workers’ compensation dividend plan…
How To Prepare for a Workers’ Comp Audit [+Checklist]
Preparing for a workers’ comp audit is an easy way to minimize stress. In this article, we will review the audit process and provide you with a general idea of what you can expect during an audit. The following steps can help you get ready, and the downloadable workers’ comp checklist can help your business…