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Property Insurance for Small Business Owners

Your business needs its materials and equipment protected to keep itself in operation. A single lawsuit, however, can lay waste to your investment. What better way to protect your business than to have your commercial property insured?

As an optional yet important insurance for small business owners, a policy covering your commercial property can be incorporated into your risk management strategies. After all, you never know when disasters or natural calamities will strike and possibly spur the bankruptcy of your company. If you have property insurance in place, you can receive benefits that will save your business and keep it going. (more…)

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How Business Insurance Protects your Company

Lawsuits can easily bankrupt a business. To protect your investment, here are two important policies that small businesses should own:

Commercial General Liability

A standard commercial general liability policy provides insurance coverage for lawsuits arising from injury or damage caused by your business practices or employees. It also covers infringement on intellectual property, slander, libel, contractual liability, tenant liability, and employment practices liability. (more…)

How Companies can Get Ahead of Data Breaches

In 2013, big retail companies were targeted in a series of cybercrimes, where costumer information was stolen and used for fraud. Millions of dollars were lost by these establishments, some of their executives and employees were fired, and customers became apprehensive about using their cards at those stores for a time, which cost even more money.

If there’s anything businesses should learn from the recent data breaches that have hit the headlines, it’s the importance of protecting themselves. Using systems that accept unencrypted credit card data or data storage with weak security, for instance, can put your company at risk, so shifting to more advanced and highly secured systems would be ideal. The question is: if upgrading all your equipment or software would take time or if it wouldn’t be possible currently, can you still protect your company? (more…)

Business Insurance Protects From Overtime Claims

H.R. 5159, also known as the Schedules that Work Act, ensures that workers can have flexible work schedules. This has, however, led to employees rendering a lot of overtime.

The hospitality and retail industries are among those most impacted by H.R. 5159, especially hotels, 24-hour shops, and food joints. Confusion regarding the coverage of related laws such as the Fair Labor Standards Act (FLSA) has caught many businesses off-guard. This resulted in a rise in wage and hour claims, namely in 2010 to 2011 where filed lawsuits went up by 15 percent. (more…)

Shore up Your Tech Defenses with Insurance

When you’re in tech, a big part of your business might be in the Cloud, but it doesn’t mean that you’re safe from both digital and real world disasters. All businesses face risk, and this makes adequate and customized insurance coverage a no-question necessity to ensure that your venture comes out on top no matter what happens. (more…)

Tech Firms: Bracing for the Risks of the Industry

The accomplishments of technology icons like Steve Jobs and Mark Zuckerberg continue to attract young programmers into the realm of business, with many starting up their own tech firms in the hope of replicating these moguls’ successes. Reality TV competitions, such as Techstars, for example, draw more computer science and I.T. majors into entrepreneurship with the promise of exclusive mentorship and more than $100,000 seed money for their business. Budding tech executives, however, tend to overlook the fact that their industry is actually among the hardest in the world of business. (more…)

Help Employees Prepare Better for Medical Expenses

Harvard University recently announced significant changes to the health-benefits program that their nonunionized employees currently enjoy. Beginning January 2015, high-deductible health plans and the use of health savings accounts will be implemented. The objective of this move is to enable the University and its employees to make pretax contributions to adequately fund and prepare for future medical costs that current health insurance plans may not cover. (more…)