Risk Management Archives - Anchor Insurance KY https://www.anchorinsuranceky.com/category/risk-management/ Fri, 17 Jun 2022 09:38:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 What Do You Get When You Buy Temporary Staffing Insurance? https://www.anchorinsuranceky.com/what-do-you-get-when-you-buy-temporary-staffing-insurance/ Fri, 17 Jun 2022 09:38:17 +0000 https://www.anchorinsuranceky.com/?p=66 Insurance that is built for your industry can be the most useful tool in your risk management plan, if you know what to look for. When you operate a staffing agency, programs built around your unique employment model must predict the combination of liability exposure your employees bring to your business from several angles. That way, you have the coverage you need to protect yourself, your clients, and your workers. Employment practices liability Professional liability coverage that includes errors and omissions by workers on assignment Policy maximums and umbrella extensions built around your specific client industries and business volume Workers’ compensation coverage for states you operate in Crime protection All of these policy areas come together in comprehensive temporary staffing insurance policies, allowing you to avoid having to shop for them separately. Additional Coverage Options You may also need a general liability policy in addition to your temporary staffing agency policy, depending on how the program is built. Some providers offer it as part of the service, others stress your industry-specific protections while leaving the general policy open so you can shop for that coverage from a provider who specializes in it. Keep those options in mind as you shop, because the right choice often requires some cross-comparison.

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]]> Insurance that is built for your industry can be the most useful tool in your risk management plan, if you know what to look for. When you operate a staffing agency, programs built around your unique employment model must predict the combination of liability exposure your employees bring to your business from several angles. That way, you have the coverage you need to protect yourself, your clients, and your workers.

  • Employment practices liability
  • Professional liability coverage that includes errors and omissions by workers on assignment
  • Policy maximums and umbrella extensions built around your specific client industries and business volume
  • Workers’ compensation coverage for states you operate in
  • Crime protection

All of these policy areas come together in comprehensive temporary staffing insurance policies, allowing you to avoid having to shop for them separately.

Additional Coverage Options

You may also need a general liability policy in addition to your temporary staffing agency policy, depending on how the program is built. Some providers offer it as part of the service, others stress your industry-specific protections while leaving the general policy open so you can shop for that coverage from a provider who specializes in it. Keep those options in mind as you shop, because the right choice often requires some cross-comparison.

The post What Do You Get When You Buy Temporary Staffing Insurance? appeared first on Anchor Insurance KY.

]]> The Risks of Running Live Events https://www.anchorinsuranceky.com/the-risks-of-running-live-events/ Wed, 08 Jun 2022 07:31:05 +0000 https://www.anchorinsuranceky.com/?p=62 From the outside, the event industry may seem like an exciting place. However, the reality is not all high-energy dances and lavish gatherings. There are certain risks you should be prepared for.  In certain circumstances, your business could be liable. That is why it is important to understand a few of the risks of the live event industry. Bodily Injury Simply put, a liability for live events is people’s unpredictability. Adrenaline can be high for anyone attending your function. This is especially the case if your event is serving alcohol.  Injury can happen because of crowds stepping on each other. Perhaps one guest tripped over stairs to the restroom. These scenarios are just a sampling of where injured parties could place blame on your business. Property Damage Along the same lines, guests could damage your expensive equipment. Maybe someone runs into your DJ booth and permanently destroys a speaker. In these cases, you’ll want to be sure that you’re protected from property damage.  The claims from all of these accidents could ramp up. That is why it is important to understand your liability as a business owner. Taking precautions like having insurance could help protect your business in the future.

The post The Risks of Running Live Events appeared first on Anchor Insurance KY.

]]> From the outside, the event industry may seem like an exciting place. However, the reality is not all high-energy dances and lavish gatherings. There are certain risks you should be prepared for. 

In certain circumstances, your business could be liable. That is why it is important to understand a few of the risks of the live event industry.

Bodily Injury

Simply put, a liability for live events is people’s unpredictability. Adrenaline can be high for anyone attending your function. This is especially the case if your event is serving alcohol. 

Injury can happen because of crowds stepping on each other. Perhaps one guest tripped over stairs to the restroom. These scenarios are just a sampling of where injured parties could place blame on your business.

Property Damage

Along the same lines, guests could damage your expensive equipment. Maybe someone runs into your DJ booth and permanently destroys a speaker. In these cases, you’ll want to be sure that you’re protected from property damage. 

The claims from all of these accidents could ramp up. That is why it is important to understand your liability as a business owner. Taking precautions like having insurance could help protect your business in the future.

The post The Risks of Running Live Events appeared first on Anchor Insurance KY.

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