Contact The Bruce Agency for assistance with Jackson Mississippi auto insurance, Mississippi Life insurance, heath insurance in Brandon Mississippi and Business Planning, Retirement Income and 401k rollovers.

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Jimmy Bruce


 

This can be ever so complicated, even for small businesses. 

General Liability

The 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. 

Example 1: 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. 

Example 2: 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.

Workers' Comp

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 all. 

You should have a competent and knowledgeable professional, helping you make sure your coverage is right for you. 

Property

This 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

A 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

Wrongful Termination Claims:

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.

Discrimination Claims:

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:

Race
Sexual Orientation
Color
Marital Status
Creed
Sex
National Origin
Religion
Gender
Age
Military Service
Disability
Pregnancy
Handicap
 

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 be covered.

Sexual Harassment:

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.

Whistleblower Claims:

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 Employment-Related Claims:

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.

 

 

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Investments products and services available only to residents of : Mississippi (MS)

Securities offered through NEXT Financial Group, Inc., Member FINRA/SIPC. The Bruce Agency is not an affiliate of NEXT Financial Group, Inc. To view NEXT Financial Group’s privacy policy and other important information, visit the “Customers” section of www.nextfinancial.com

The Bruce Agency is located at 115 Village Square Suite D, Brandon, MS Phone:  601-829-9555