Running any business is rewarding, but it also comes with risks. No matter how prepared you think you are, there will always be challenging instances. And you need to make sure you’re well-protected. From financial protection to preserving your brand and reputation, business insurance can help shield you from a business disaster. Insurance is crucial in any […]
Liability
5 Fundamentals of Limited Liability Corporations
A Limited Liability Company (“LLC”) is a hybrid business entity which contains elements of a partnership and a corporation. LLCs consist of members and managers. An LLC may provide tremendous benefits for its members, which include asset protection, intergenerational transfers, tax saving strategies, wealth preservation, flexible management structures, and clarity on the roles of all […]
Asbestos Claims: Could Your Business Be Liable?
Asbestos needs to be taken very seriously. It is responsible for thousands of deaths every single year—in 2016 it claimed the lives of 2,595 people suffering from mesothelioma, as well as causing a number of other fatalities in the of asbestosis and additional conditions. In addition to the number of deaths, asbestos is also the […]
The Most Important Insurance Policies Small Business Owners Overlook
Let’s face it, securing your small business with the right insurance can make the difference between a crippled or a successful business. While insurance can be costly, it can protect losses that occur on your equipment, inventories, buildings, and other business assets. That being said, it’s vital that you avoid spending money on coverage you […]
Reduce Risk by Segregating Assets in a New Entity
The Problem: Often business owners want to segregate valuable assets from potential adverse liabilities generated in the operation of a business. For example, a bakery will likely own: (1) equipment used in its operations; (2) the factory building; and (3) a fleet of delivery trucks and vehicles. If all of these are owned by the […]
General Liability Insurance for Business: What It Does and Doesn’t Cover
As a small business owner, you may have been tempted to throw your hands up in frustration at the intricacies of insurance. It sometimes seems like the entire point of insurance policies is to make sure no one ever actually makes a claim. As you look through the list of policy exclusions and restrictions, you […]
6 Types of Insurance Your Small Business Should Have
Are you covered? When a business owner starts a business then from the very first day, he put himself at specific risks. So it’s essential to have the right insurance even before hiring the first employee. In fact, a single tragedy could be sufficient to completely uproot a small business. Luckily, businesses have access to […]
How to Protect Your Assets from Money-Draining Lawsuits
As an entrepreneur, it’s part of your job to anticipate risks to your business. Bad weather, theft, an accident, or a lawsuit, are just few of the risks you have to prepare for. You can install security cameras, alarms, and high-quality locks to protect your store against theft. You can buy a generator and create […]
5 Legal Threats to Your Small Business
A small business owner faces plenty of challenges each day, and some of those challenges could land the owner in a court of law. When you can identify the most significant legal threats that face your small business, then you can take the necessary steps to protect yourself, your assets, and your livelihood. Liability Issues […]
Asset Protection Tips for Your Small Business
No matter your industry or how small your operation, it’s vitally important to take the proper steps to protect your business from litigation. Why You Need Protection What most people don’t fully understand is that owning any type of business can significantly increase their risk for being sued. In the event of a suit, your […]
