Without the protection of the right liability insurance policies, one lawsuit could exact financial disaster on a business. Most business owners understand the importance of maintaining appropriate liability limits on their business insurance CT policy but may not realize that there are many different kinds of specialized liability policies available that could be very advantageous.
In today’s world, many businesses are relying on the internet to conduct business. There are risks involved in this practice, though. A Cyber Liability policy can protect a business should they find themselves faced with a lawsuit for unwittingly transmitting a virus, copyright or trademark infringement, or a host of other issues that can occur when conducting business on the internet.
In addition, it may be very beneficial for a company to add Employment Practices Liability coverage to their business insurance CT policy. This type of insurance protects against claims of discrimination, wrongful termination, or harassment made by employees. This type of coverage is becoming increasingly important. In fact, recent studies have shown that as many as 3 out of 5 companies will be sued by an employee at some time.
Other additional policies may be helpful depending upon the type of business that is being conducted. Pollution insurance could be very important for construction and industrial businesses. Almost every business should talk to their insurance agent about an umbrella policy to add additional coverage beyond what a standard policy includes.
Unfortunately, a lawsuit can happen to any company. With the right insurance coverage, though, it does not have to mean financial disaster. Protect your business with the right business insurance policy that includes the additional specialized liability coverage that your business needs. Visit the A.J. Benet Insurance website for more information.