Media liability insurance is a type of specialized errors and omissions insurance. It protects authors; publishers or broadcasters; advertising or PR agencies; and other media professionals if they’re sued for defamation, invasion of privacy, plagiarism and related claims. Policies may cost as low as $500, but average around $2,500. We’ve reviewed five policies here. If…
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Types of Surety Bonds: Understand the 4 Main Surety Bond Types
Surety bonds are purchased by principals to protect third-parties from a failure to meet contractual obligations. There are 4 main types of surety bonds. Contract surety bonds and commercial surety bonds protect private and public interests and are the most common. Fidelity surety bonds and court surety bonds protect against theft and litigation and are…
Self-Insurance: Definition & How It Works
Self-insurance (also known as self-funding) allows small business owners to create and manage their own insurance plans, without being subjected to the restrictions and costs of working with larger traditional insurance carriers. However, self-insurance does come with a high level of risk and liability. We want to preface this article by stating that self-insurance is…
How to Differentiate Workers’ Compensation Policies: An Interview with Lynn LaGram
When a company expands and starts hiring employees, they are required to have workers’ compensation insurance. Workers’ compensation insurance covers the expenses associated with a worker getting injured while on the job. This can include the medical bills from the injury, physical therapy, and lost wages. To learn more about workers’ compensation, we spoke with…