Your business not only creates income for you, it may provide employment for other people. Small and medium businesses are subject to the same risks as major corporations. You buy business insurance to help protect your business for claims and litigation that may come from a variety of sources.
Remember, your business insurance can be designed to protect you from unforeseen accidents and lawsuits because of your business operations. The government, customers, employees, and other third parties can sue your business. Here are a few tips from business attorneys that might help reduce the chance that your business is involved in litigation.
Review all leases and contracts to make sure that you have addressed all your legal obligations, including insurance requirements. We recommend the use of an attorney, and call our office so we can determine what is required of you for your business insurance.
Make sure you have a comprehensive employee handbook that outlines your policies and procedures. This should include a sexual harassment policy.
Provide training for all employees annually on your policies and procedures. Effective training enables your organization to comply with all legal requirements, thereby avoiding costly lawsuits, audits, and fines.
Make sure your business complies with all OHSA laws and rules. Many OSHA standards explicitly require the employer to train employees in the safety and health aspects of their jobs. Other OSHA standards make it the employer’s responsibility to limit certain job assignments to employees who are “certified,” “competent,” or “qualified.
Address employee complaints. Employers need to have a well-publicized, specific procedure for employees to express their complaints without fear of retaliation.
Insist on thorough and complete documentation of supervisory decisions involving all personnel matters.
We understand that even if you do everything correct, you still might be sued, but that is another reason to have a well-designed business insurance program.
With an independent insurance agent, you have choices. Independent agents are not tied to any one insurance company. One of the advantages of using an independent agent is that he or she works to satisfy your needs. You are using an expert for an important financial decision.