Workmen’s comp insurance helps your employees by covering costs associated with work-related injuries, illnesses, and fatalities. This includes medical expenses and lost wages. If a worker dies as a result of an on-the-job incident, this type of insurance can provide what’s called a death benefit to their surviving family members.

Let’s start by answering the most important question: What is general liability insurance? Companies get financial protection from general liability insurance, meaning they can operate without fear of taking on a huge expense if they’re sued for covered incidents.

What is a hold harmless agreement? That’s an important question. A hold harmless agreement, which is sometimes called a hold harmless letter, is a “release of liability” clause, typically in a contract, that indemnifies and protects one party from the financial consequences of damage or injuries caused by another party. One party agrees not to sue the other, and also to pay the costs that the party might incur for certain events.

Employees rely on the benefits you provide them—health insurance, for example. They need to know that the coverage will be there for them when they need it.

As important as insurance is for small businesses, it’s not uncommon for busy company owners to be unsure about why they need it, where to get it, the fact that coverage can be tailored to their needs, etc. We know this from our interactions with customers and prospective customers all around the U.S.

Company owners face many challenges in running a successful business. One of them is creating and maintaining an environment where each employee believes the company and their fellow employees are treating them fairly.

Are you wondering, “What is a Certificate of Liability Insurance?" or “What is a COI?” (which is short for Certificate of Insurance)? Many business owners and decision-makers do. It’s a document that proves you purchased an insurance policy that protects your business from liability costs.

Picture this: You’re performing a home inspection and miss a problem with the electrical system. The buyer goes through with the purchase, learns that correcting the problem will cost $6,500, and sues you to pay for that expense. Compare that amount to the home inspector insurance cost for your business, and you’ll see that it definitely makes sense to have coverage.

In simple terms, legal liability means being "responsible or answerable in law; legally obligated." Businesses can be found liable for a wide variety of actions that affect others, and if they are, they may be required by a court to pay monetary damages to an individual or organization.