Commercial General Liability Insurance (CGL) - Necessary Coverage As one of the more common types of liability insurance policies purchased in Canada the Commercial General Liability Insurance policy is an important piece of the insurance buying process. The Commercial General Liability policy commonly referred to as CGL is intended to defend and indemnify a business facing a claim by a third party alleging property damage or bodily...more
Directors and Officers Liability Insurance (D&O) - Lead with Peace of Mind Coverage under a Directors' and Officers' Liability Insurance Policy (D&O) has traditionally secured to protect the personal assets of individual directors and officers. Personal liability is created by more than 200 pieces of legislation and a growing body of case law, and it is government's and society's attempt to motivate appropriate...more
Investors and business owners do always consider the protection they have for their business. Also, they tend to worry so much on lawsuits and unethical creditors. Proper operation and managing of business with the help of a reliable insurance will be of a great help.It is advised that business owners should take a look in the three main forms of asset protection that the limited liability company provides. In some cases the liability protection provided by a limited liability corporation prevents financial or legal disaster.Making your business into a limited liability company is the most popular LLC asset protection technique.You will no longer be personally liable for the problems that may occur inside or outside the business since it is in LLC form that you own the business or investment. Here is an example, if you have business partners in your business of course problems and issues may occur, you will now be at some point held liable for the said problem.One great example is that a business you directly own breaches a contract. If the business is mainly registered as your own, you and someone will file some lawsuits, you will have no choice but to pay all the needed payments...more
Liability insurance is critical for individuals who are self employed. Liabilities are essentially anything that individuals may be held accountable for in court. For example, if you own a facility and someone slips and injures his or herself, you could be held liable in court. Lawsuits are becoming more and more commonplace, and with this trend,...more
When you are a self-employed there are many reasons why you should purchase self employed liability insurance. This form of insurance will protect you and your company from claims due to any type of damage or injury that may occur during the operation of your business. This type of policy provides coverage for legal expenses, medical expenses, and...more
Without self employed liability insurance, independent contractors are taking chances with their financial futures. Consultants and freelancers span all industries, but none are immune from lawsuits. Clients can sue for gross negligence, bad advice, damages or losses. Any member of the public can claim injury due to a product or service. Either scenario can result in the loss of personal assets if an independent contractor is not protected. The cost of litigation alone can be expensive. Court costs coupled with a verdict against the defendant and a sole proprietor can be monetarily wiped out. Insurance is designed to offset those possibilities.The most common type of self employed liability insurance is general liability coverage. As the name implies, it's an all-encompassing policy covering bodily injuries, personal injuries and property damage. Many businesses prefer, if not require, independent contractors to carry general liability. Policy rates are based on the exact type of work being performed, with low-risk business classes paying less in premiums than high-risk classes. In addition, policies may cover damages due to advertising products or services. Typically this...more
We live in a litigious society today. Even if you are self-employed, you need to have self- employed liability insurance to cover any potential lawsuits. It is actually more important for a self-employed individual to have this coverage since the...more
In today's ever changing economy, lawsuits are filed by dissatisfied customers and disgruntled contractors on a regular basis. Civil lawsuits are often filed against unprotected, ill-prepared, small business owners. In many situations, these...more
The opportunity to work from home or be self employed in general is considered a blessing. However, that same blessing brings responsibilities that you would not usually have to deal with working at a regular 9-5 job. One of these responsibilities is...more
As the economy continues to sputter, people start to run out of unemployment benefits and job prospects are slim, more people are considering self-employment. Whether this be as an independent contractor in a particular field or opening their own...more
Self-employed liability insurance is insurance used to provide the self-employed with protection against lawsuits. General policies are available and can cover instances of libel, and slander, as well as many other types of potential lawsuits....more
There are many benefits to working for oneself. Some of the main reasons people choose to be self employed include extra freedom, income potential, and the appeal of owning a business. It's a completely different experience from working for...more