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In today’s litigious society, businesses are susceptible to a host of employment- related lawsuits, including claims of discrimination, sexual harassment, wrongful termination, and invasion of privacy stemming from employer monitoring of voicemail, email, office computer systems, and the Internet. The increase in these liability claims has fueled the need for a different type of insurance coverage—employment practices liability insurance (EPLI). |
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Considering all the things that can go wrong with a business, small business owners may be considered risk takers. However, there are two risk exposures that any business owner can ill-afford to overlook: property loss due to perils, such as fire, theft, and wind or water damage, and liability loss for injuries sustained by individuals while on business premises and/or during operation of the business. In today’s litigious society, self-insuring is hardly cost- effective, particularly for potentially catastrophic losses. This is where a business owners policy (BOP) can play a crucial and beneficial role. |
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If you spend time each day at a computer keyboard, you are probably familiar with one effect of repetitive stress—carpal tunnel syndrome, which can result in pain and/or numbness in the wrist and fingers. |
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As a business owner, from time to time, you may enter into relationships with businesses, government agencies, other entities, or individuals. These relationships may expose you to risk, such as liability arising from another party’s negligence or faulty/hazardous products. “Hold harmless” agreements—provisions where one party assumes liability by indemnifying the first party — are a popular way to protect your company against potential liability; however, in many situations, it may be best if you are also covered as an additional insured by an insurance policy owned by that party. |
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Recent disasters such as Hurricane Katrina have prompted many business owners to evaluate their disaster preparedness, risk management, and insurance programs. If a natural disaster were to force you to temporarily suspend daily business operations, how would you meet your payroll obligations or cover other fixed costs without a continuing income stream from your business? |
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In today’s increasingly demanding work world, it is not surprising that workplace stress is on the rise. The National Institute for Occupational Safety and Health (NIOSH, 2005) reports that 40% of workers describe their jobs as “very or extremely stressful” and 25% of employees view their jobs as the most stressful area of their lives. |
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