This can be ever so
complicated, even for small businesses.
fatal mistake that many companies make with
Commercial insurance is thinking "one size fits
all". Every company is different, so it is
absolutely critical that you have a knowledgeable
professional to guide you. Make it a point to
contact us for free review.
an electrical contractor decides to earn some extra
cash by roofing a house for his neighbor. It's
likely his insurance will not cover it.
Plumbing contractor is a sub for a major contractor
in a new construction. One year later, all the
plumbing breaks loose and causes $80,000 in damage.
The plumber's general liability insurance will
probably cover the damage, but not the profit the
plumber made. If the plumber's profit was 40k, then
it may only cover the first 40k unless the insurance
is written properly.
Do I need Workers Comp?
Many businesses are breaking the law and don't even
know it. If you have 5 or more employees it is
mandatory in Mississippi that you have Workers
Comp. Businesses that have less and do not carry
workers' comp are gambling their business every
day. They can be one accident away from losing it
You should have a
competent and knowledgeable professional, helping
you make sure your coverage is right for you.
seems easy enough, but an evaluation is still
necessary. Does your inventory fluctuate? Do you
move tools or inventory around? If your building is
not insured "to value" and you have a claim, you
could be receiving less money on your claim. Many
questions need to be answered before buying.
BOP is a "Business Owners Policy." This is usually
used for a "simple" business. Example: a mom and
pop grocery or a clothing store. Often Workers'
Comp may be integrated. If you qualify for this, it
is a very quick and inexpensive way to buy insurance
for your business.
Employers' Practices Liability Insurance
More than any other
aspect of the employment relationship, the discharge
of an employee has the potential to result in
litigation. EPLI policies cover claims by former
employees alleging that he or she was wrongfully
terminated. Some policies also cover claims of
"constructive discharge" by employees who claim that
they could no longer tolerate the work environment
and were compelled to resign or retire.
Policies can also cover
claims by current, former or prospective employees
who charge that they were the victim of
employment-related discrimination on the basis of
any federal, state or local law that prohibits
discrimination by employers on the basis of:
The definition of
discrimination can include any future changes in
those laws such that any additional categories of
discrimination against employees will be included
within the coverage afforded by a policy. Claims by
employees who charge that they were discriminated
against for exercising their rights under worker's
compensation, COBRA or other similar laws, can also
Coverage for sexual
harassment claims against your company, including
claims against supervisors and fellow employees, can
be included. In addition, the policy can cover all
categories of sexual harassment as currently defined
by the Equal Employment Opportunity Commission.
Policies can also cover
claims by employees who charge that they were the
subject of an adverse employment decision solely
because they disclosed an unfair or illegal practice
by the employer. This is one of the few policies to
specifically cover whistleblower claims. Sometimes
these matters are referred to as "Section 132".
Wage & Hour Claims:
The FLSA sets the
minimum wage and maximum hour/overtime requirements.
The Wage and Hour Division of the Department of
Labor manages the administration of the FLSA. FSLA
actions are frequently NOT covered without specific
EPLI insurance policies.
Other additional causes
of action which are alleged in employment
litigation, such as libel, slander, or other
defamation, invasion of privacy, mental anguish,
infliction of emotional distress, loss of
consortium, assault, battery, breach of contract,
negligent hiring, supervision, promotion or
retention in connection with any other
employment-related claim, can often be covered.
Here at The Bruce
Agency we strive to offer a varied and wide range of
counsel to protect and grow your business. We offer
a full range of Auto Insurance, Home Insurance, Life
Insurance, Health Insurance, Commercial Insurance,
and Long-Term Care Insurance. Relationships start
with the first introduction. It costs nothing to
introduce yourself and could save you millions.
Contact us today.