If you have employees, you pay them a wage for their work; that’s just a basic fact of life. Payroll is defined as the regular payment of wages to employees, and it includes withholding the correct amount for taxes, insurance premiums, or retirement plan contributions. Payroll can be complicated and unwieldy with technical minutia, but managing payroll is a legal requirement, so don’t try to skimp on understanding the basics.
In the business world, you want your employees to be happy, healthy, and safe. But all too often workplace situations can grow tenuous and an employee might sue based on inappropriate employment practices (like discrimination or wrongful termination). Employment practices liability insurance (EPLI) covers claims by workers of wrongful acts by employers in the employment […]
When you first start dreaming about your small business, it’s fun to think about grand openings, happy customers, and meeting your financial goals. However, before doors open or those first paychecks go out, it’s important to address some of the less-fun parts of your business, like risk management. One of the most basic types of […]
If you run a commercial trucking business, there are many things to organize before you can actually get on the road. When your trucks are out on the Interstate with a trailer hauling goods, it’s a given that you’ll have specific insurance policies to cover accidents and mistakes. However, when your truck is driving around […]
If you are opening a restaurant, the list of things to accomplish before you open your doors can be lengthy and overwhelming. In addition to planning a menu, finalizing decor, training staff, and lining up your deliveries, you also need to make choices that will protect your restaurant in the event of an accident, injury, […]
Liability insurance is crucial to protecting your small business from lawsuits and accidents, but not all liability insurance policies are the same. If you run an auto repair shop, auto dealership, gas station, or tow service, you might be in need of a specific type liability insurance plan that helps insure and financially protect vehicles […]
Insurance protection comes in various shapes and sizes. If you are looking to protect your business from financial fraud or employee dishonesty, fidelity bonds are one form of risk management you may need. This type of insurance policy can also be referred to as commercial crime policy. Fidelity bonds are a requirement in some states […]
When you own a small business, at some point in your growth you may want to protect your personal assets from your business finances. Without proper coverage and a solid business structure, your own assets, in addition to your business assets, might be in danger. An LLC (limited liability company) is a business structure that […]
So, you just got asked to provide a loss run report? You’ve come to the right place. You might be asked to show a loss run report when you apply for insurance or need to renew an insurance policy. Risk is an inherent part of a small business, and insurance companies need to know how […]
It’s safe to assume that if your business serves, distributes, or manufactures alcohol, you will want and need some extra insurance protection. Because alcohol consumption isn’t always linked to making the best choices (I mean, right?) your company may be held responsible if someone drinks at your establishment or consumes your liquor, and then ventures […]
