Business Insurance with Zein Insurance Services

We Insure You One Step Better And One Step Closer To Success

When you’re just starting out in business, it’s easy to cut back on your business insurance. Many small business owners believe since they have little money and few assets, no one is going to sue them. Natural disasters? Not likely.

Unfortunately, that’s not how things always work out. Here are three small business realities:

Small companies get sued all the time. Just because your business is a corporation or limited liability company (LLC), that doesn’t mean your personal assets are always protected. Under certain circumstances, you could be held personally liable if you are slapped with a lawsuit. That’s whyliability insurance/business insurance is so vital. Depending on your business, you may need general liability insurance, in addition to professional liability coverage.

Do You Have The Right Business Insurance?

Natural disasters can happen anywhere, and many businesses do not survive them. Weather patterns are unpredictable, especially when flooding occurs. Disasters are expensive.

Aside from specific disaster coverage, there’s also business interruption coverage. This type of insurance provides compensation for your business if it’s temporarily shut down due to a disaster.

What is General Liability, and what does it cover?

General Liability Insurance is a vital shield for business owners, providing protection against potential legal disputes in the complex realm of business liability and torts. This insurance ensures the security of your business and the income of your employees.

General Liability Insurance comprehensively covers claims related to property damage or bodily injury inflicted upon third parties due to your business operations, premises, or product usage. It also extends its coverage to include the expenses associated with legal defense for the insured party.

Protect Your Business From Any Disaster

Having the right insurance broker in your corner to educate your firm on the best business insurance options can be beneficial to your association. Many businesses do not survive the death of an owner. Statistics show that many businesses crumble after the death of an owner. Life insurance can help your business survive if something happens to you and protect your family and/or your business partner from a financial disaster.

What is Workers Compensation?

Workers compensation is a crucial safety net designed to provide financial and medical support to employees who suffer injuries or illnesses in the workplace. This system is essential due to the prevalence of workplace injuries, the unique challenges faced by medium-sized companies, and the significant financial burden of work-related incidents. It ensures that injured workers receive the necessary benefits and compensation during their recovery, contributing to their well-being and financial security while also addressing the substantial costs associated with workplace accidents.

Cyber Liability Insurance

In today’s digital age, businesses must consider the importance of cyber liability insurance. This coverage is not limited to shielding against the liability incurred by hackers stealing personal information via the internet. While that is a significant aspect, cyber liability insurance also safeguards your business from other risks, such as data breaches caused by system glitches and human error, which account for more than half of such incidents. If your business handles customer’s personal information, like credit card details, social security numbers, or financial data, it is strongly advised to include cyber liability coverage as part of your business insurance options.

What is Employer Liability Insurance?

Employer Liability Insurance (EPLI), also known as Employment Practice Liability Insurance, is a crucial form of coverage that shields businesses from various employment-related legal liabilities. It safeguards against claims like discrimination, sexual harassment, wrongful termination, and violations of the ADA. EPLI can also cover third-party defense in employee-related disputes. Zein Insurance Services can help integrate EPLI into existing business liability policies for potential cost savings. Not having EPLI can be risky for small to medium-sized businesses, as EPLI lawsuits typically range from $10,000 to $60,000. Surprisingly, 40% of companies lack this coverage, which can lead to substantial legal expenses and risks to business success.

What is Directors and Officers Liability Insurance?

Directors and Officers Liability Insurance, commonly known as D&O Insurance, provides financial protection for company directors and officers in cases where financial losses result from their fulfillment or neglect of fiduciary duties. Zein Insurance Services advises considering both D&O and Errors and Omissions Liability Insurance to make informed coverage decisions. D&O Insurance is crucial due to the inherent risks in leadership roles, offering personal liability protection for these individuals. It is applicable to privately held firms, not-for-profit organizations, and educational institutions. The increase in D&O lawsuits in 2016 underscores its importance for companies in 2017.