WHAT INSURANCE WE WRITE
- Workers Compensation Insurance
- Payroll Management
- PEO / Professional Employer Organization
- Employment Practice Liability
- General Liability Insurance
- Professional Liability Insurance
- Surety Bonds
- Commercial Auto Insurance
- Garage Keepers Insurance
- Builders Risk Insurance
- Inland Marine Insurance
- USL&H Coverage
Workers Compensation Insurance
There are many professions that pose some hazards to their employees. Being in construction work is one because workers are liable to take a fall, liable to be hit on the head or worse fall to death. Being a worker in a factory or laboratory also increases the chances for a work-related injury simply because of the nature of the work.
However, regardless of the danger faced in the industry you work in, you can rely on Workers Compensation Insurance to provide the following benefits for your employees and their family members in the case of work-related injury:
- wage loss indemnity,
- coverage of medical expenses and/or hospitalization services,
- partial or permanent disability,
- vocational rehabilitation, and,
- burial services and other benefits in the case of death.
Workers Compensation Insurance is the all-encompassing mandate which covers compensation for a worker and his family members in the event of an accident leading to injury or death during the course of the worker’s performance of his duties.
When you’re running your own business, you always want to find ways to cut costs without affecting the quality of work that you do for your company. You can’t very well cut your employees’ wages because to do that would be to sacrifice the good ones for leaving your company and looking for greener pastures.
You can’t cut down on the quality of ingredients (if you’re in the food business) because to do that would mean a change in the taste and that would affect the number of customers who patronize your food products. One of the common departments that often gets outsourced or passed on to an outside company is Payroll Management, especially when a business wants to cut costs.
PEO / Professional Employer Organization
You’re a small business owner juggling 250 things you need to accomplish each day, you have a limited budget, no HR department, and no mid-level manager to hand important tasks off to. And, you need to hire employees to keep up with growth or changes. You don’t have the time nor the personnel for standard hiring and onboarding processes, or any of the other wonderful HR function a large company can handle including, firing (not the most fun thing to do) maintaining employee manuals, garnishments, unemployment claims and complying with ever-changing state and federal regulations.
However, if you want to succeed, a Professional Employer Organization will be a benefit to you!
Professional Employer Organization is not such a technical term to understand. First, it concerns your employees and the maintenance or responsibility of having an HR department. The main concern among business owners is that the routine task of organizing, recording, managing and paying for employees often takes too much time and costs a lot especially when you have to have your own HR department to do the job for you. But, of course, you can’t do without employees or you won’t have a business to run. The solution that has presented itself is to work with a Professional Employer Organization (PEO).
When you work with a PEO, you are basically transferring all the necessary management, and sometimes even hiring procedures, of your employees to another company. Your employees are still your employees except that someone else is hired to be responsible for the hiring (sometimes), payment of salaries, wages, employee benefits and other bonuses, and handling various employee claims. In short, it’s like having an outsourced Human Resources department that you can utilize if you don’t want to be burdened with handling one for your business.
Employment Practice Liability
It’s hard enough to run a business and plan for every contingency regarding operations, logistics, expenses and what not. It’s also tough having to deal with potential lawsuits coming from accidents and leading to property damage and physical injury to your employees.
What can make it even more stressful is that you also have to deal with your employees who have the potential to file lawsuits by themselves, especially in relation to harassment, discrimination, and wrongful termination? If you don’t want to be tangled up with these kinds of problems, you really need to get Employment Practices Liability Insurance (EPLI).
As you can surmise, a General Liability Insurance is an insurance policy that business owners need to get if they want to be protected from paying compensation or liabilities resulting from lawsuits and claims arising from accidents, whether their company was directly, indirectly or not at all responsible for them.
In reality, no matter how much you prepare and take the necessary precautions to ensure the safety and security of your employees, accidents are always waiting to happen, either through negligence or a twist of fate. It is in these instances that you have to safeguard your company’s assets from being drained because you have to pay off medical expenses, attorney’s fees and other costs as a result of property damage or personal injury.
Professional Liability Insurance
In today’s world where more and more people are starting their own business, being their own bosses, working from home, and offering their professional expertise and services, it’s important to have the proper protection from being sued for negligence, misrepresentation, and violation of good faith.
Even with taking the necessary precaution by detailing your exact deliverables within your contract, there will always be someone who isn’t satisfied with the results that they were given and as such, in all likelihood, sue you for their perceived “deception”. A Professional Liability Insurance is a necessary barrier for such events.
It’s not uncommon for you to be familiar with Surety Bonds especially if you’re a professional or you have your own business and your client needs a guarantee or bond as proof that you can accomplish what you’re hired to do. Surety bonds often involve three parties.
- The Principal is usually the provider of the action or service which can be anyone – an individual, partnership or corporation. He is required to post a surety bond which ensures that he will perform what is expected of him.
- The Obligee is the one to whom the guarantee is for. He’s the one asking for the performance of an action or service. He’s the one who has hired the services of the Principal but needs the guarantee to ensure that the job will be accomplished or fulfilled. If the Principal fails to deliver what has been promised, the Obligee can collect his bond from the Surety.
- The Surety is the one that provides the guarantee when the Principal fails to provide what is required from his obligation to the client or the obligee. The surety will do a background check and evaluation on the principal to make sure that he is qualified to be bonded. If he passes the test, then the surety issues the bond.
Commercial Auto Insurance
The key word in understanding Commercial Auto Insurance is “Commercial”. It’s the main difference from personal car insurance. What it denotes is that this type of insurance is clearly for businesses with employees that use and operate vehicles like trucks, vans, cars, and SUV’s.
There are different types of accidents that can happen when you use vehicles for your business. First, your employees may be involved in the accident due to human error. Second, your vehicle may have been damaged due to another vehicle involved in the accident. There may also be times when passengers are also hurt or worse, dead. If you consider all the financial expenses involved in compensating for the damages, your business will likely go bankrupt. That is what commercial auto insurance is for.
Garage Keepers Insurance
Whether you own a service station or a repair shop it is important to protect your clients’ vehicles from accidents that could occur. You want to make sure that in the case of damage or loss you and your clients are protected with the right insurance coverage.
Your typical General Liability policy does not have you covered when it comes to this type of loss. Garage Keepers Insurance is designed for business owners who offering towing, vehicle service, auto repair and body shops. It protects your clients’ vehicle when you are parking it, holding it, or performing service.
If your company works around vehicles or transports vehicles you need Garage Keeper’s Insurance. Enterprise Insurance Group has been working with shop owners for over 30 years to help build custom risk management programs.
Builders Risk Insurance
Enterprise Insurance Group has been working with small business owners for over 30 years to help them find the right Builders Risks Insurance policies that best take can of their risks and exposures.
You can get a Builders Risk quote by filling out the form on the next page our by calling 1-800-329-2040 to speak to a live agent. Our agents are able to search the marketplace and find the insurance coverage that fits your specific needs at a price that you can handle.
Inland Marine Insurance
The term Inland Marine Insurance may be a quirky way to describe something that doesn’t really have anything to do with water or “marine”. It’s an offshoot of the insurance coverage called ocean marine which used to cover protection for any cargo that’s being transported across the ocean. It grew from the necessity of covering cargo and other valuable items that are being transported first on land and then being transported by water on ocean-faring vessels.
Over the years, the insurance coverage has evolved to include all property that is in transit, never mind that it’s never going on water or being transported on the ocean. The “Inland Marine” just kind of stuck and has since, been used to cover almost all property that is being transported whether on a one-time deal or on a regular basis.
In order to qualify for coverage under the USL&H, two criteria must be met. First, the injured worker must be a maritime employee as defined under the USL&H. This is the “status” requirement. Second, the injury must occur at a location under the jurisdiction of the USL&H. This is the “situs” requirement.
The benefits provided by the USL&H are based on wage loss and the worker’s post-injury earning capacity. Under this federal system, the benefits tend to be more lucrative that scheduled state benefits.
With an in-depth understanding of the market and long-established relationships with our companies, Enterprise provides clients with considered advice, exceptional service, and creative solutions to their Maritime Workers Compensation needs.
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