Business Insurance

Employment Practices Insurance

Posted on Feb 25, 2014 in Business Insurance

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Protection From Employee Claims

With the heightened awareness of workers’ rights that has taken hold in recent years, business owners must protect themselves against claims made by employees, former employees, or potential employees. To meet this need, Employment Practices Liability Insurance is available. It covers the company (including directors and officers) against claims of discrimination (age, sex, race, disability, etc.); wrongful termination of employment; sexual harassment; and other employment-related allegations. It is important to have this coverage in place from the very start because businesses may be vulnerable from the pre-hiring process through the exit interview, even if the employee filing a claim was never hired. Even groundless and fraudulent claims can be expensive to defend against.

NOTE: E-mails and tweets provide a lasting record of comments that some might find offensive or incriminating, which further increases the need for protection against employee claims.

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Guarding Against Cyber Threats

Posted on Nov 7, 2013 in Business Insurance

Prepare Your Business for Increasing Cyber Threats

Businesses large and small are realizing many outstanding financial benefits that come with embracing Internet and network-based technology, and they are not the only ones. There is also a plethora of new risks posed by cyber thieves and other malevolent entities.

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Posted on Feb 9, 2013 in Business Insurance

Is Your Landscaping Contractor Insured for Snow Removal?

2.8.13  Has Nemo got you calling out “uncle”?   Are you trying to find someone to plow your driveway for the first time? The stress of dealing with this huge amount of snow may have you flagging down a snowplow truck this weekend.  Keep in mind that you should still ask the contractor if they have the correct commercial auto insurance to protect against the cost of accidents.  What kind of insurance should they have?
A common mistake is to assume that companies that are insured for services such as landscaping/paving etc. are also insured for snow removal. In truth, the majority of policies for such services do not generally cover snow and ice management. A strong, professional contractor will have specific insurance for their snow removal operations.   It is also a good idea to have a written agreement or contract with the snowplow contractor.  A good provider will always create a contract that defines the desired level of service. (i.e. – how many inches before plowing begins; where to place excess snow, etc).   It will also actually help the contractor obtain a better rate on his insurance if the jobs they perform  are in writing! And if you are a contractor that plows and removes ice and snow – after you rest up from the marathon of plowing – check with Scott Insurance to see you have the best coverage for the best price!
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Flood Insurance Changes in Stratford

Posted on Sep 19, 2012 in Business Insurance, Home Insurance

Floods Are Happening More Often and Flood Insurance is Changing

It is a  sign of the times that “100-year-floods” now occur more frequently than every 100 years.  The causes of this change range from changing precipitation patterns, environmental changes and even development. So it is quite possible that the FEMA (Federal Emergency Management Agency) will have updated their flood hazard maps to show risks to property that may not have existed before.  Homeowners should check their homeowner’s insurance to see if they fall into these new high-risk areas since previous incidence of flooding is no longer a good indicator of the future.  In High-Risk areas, there is at least a 1 –in-4  chance Expanded Flood Zones for Stratford CT and Derby CTof flooding during a 30 year mortgage period!
Call or email our office for an immediate, complimentary check to learn if there are changes that affect your property,  and the cost of flood insurance.

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Are You Covered When Traveling?

Posted on Jun 21, 2012 in Business Insurance

What is coverage in Travel Insurance

Why You Should Always Vacation with Travel Insurance

While traveling for business may be occurring a little less these days,  that does not mean that corporate travel insurance has been standing still. This coverage is designed to cover many contingencies.  The first concern:  does it cover side trips to visit friends and family while covering the business trip?  Does it cover accidental death and dismemberment, medical evacuation, or repatriation of remains?  Besides these dreadful contingencies – does it cover the more mundane but aggravating trip delay/interruption or delayed or lost baggage?  If you are traveling overseas – out of the country medical insurance might be a wise addition.   A policy can also include security related protections against identity theft, political evacuation and natural disaster services.  Another worst possible scenario: terrorism is actually not excluded under most policies, but war risk often is.    However, if a company knows it has an exposure to a high risk area, specific war risk coverage may be obtained.  Some travel insurance policies offer kidnap and ransom coverage.  Having these types of coverage in place is likely to lead to Happier Travels!  To discuss the best type of coverage when traveling for business – call Scott Insurance to get a quote for advice on the items you should consider including.

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Posted on May 15, 2012 in Business Insurance

Employer has Employment Practices Liability Insurance in Derby CT

Why a Company Should Consider Liability Insurance

The sharp economic downturn in our economy has caused small business to have to face increasing amounts of  lawsuits filed by laid-off employees as companies downsize in order to survive.   This type of legal issues can present a crippling legal cost to  a company.  In response,  there has been a relatively new form of liability insurance know as Employment Practices Liability Insurance that provides an employer with protection against claims made by employees, former employees, or potential employees.  Even though business owners may be reluctant to add to their expenses, doing so with the right kind of insurance may save them from court actions that can destroy companies, particularly start ups and under capitalized businesses.  Defense costs are specifically included within the Employments Practices Liability Insurance policy’s limits.  Call to learn if this would be a wise move for your company!

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