Many individuals wonder if the workers’ compensation insurance of their employees could pay for their health insurance. Well, the exact answer is NO! Your employer may be responsible for all reasonable medical expenses for your injury that you incur during the working operations. However, this doesn’t mean that your employer may need to take charge of buying you or your family members, health insurance. The benefits of the worker’s compensation and health insurance that is considerately given to you by your employers — are two different things. Continue reading “Does The Worker’s Compensation Pay For My Health Insurance?”
Liability insurance is a protection for the policyholder who is at fault in an accident. In particular, liability insurance is available to auto, homeowners, commercial, and watercraft insurance. This form of insurance has coverages that protect the policyholders from a lawsuit. There are two components of liability car insurance: bodily injury and property damage liability. Furthermore, without carrying at least a minimum amount of liability coverage, you will pay for the damages you might cause to others with a serious amount of money out of pocket.
Worker’s compensation or also called “worker’s comp,” is a form of compensation for employees who suffer an injury at work. Worker’s comp insurance is a requirement for employers to carry in most states especially in California. This form of compensation obtains payments for medical costs, lost wages, and occupational rehabilitation expenses regardless of who is at fault for the accident. Business owners purchase workers’ comp to prevent getting sued by their employees for negligence or other damages.
Every state has a different requirement for workers’ compensation insurance. In California state law, workers’ compensation is mandatory for all employers, regardless of how many employees you have. It requires a business owner to carry workers’ comp insurance for employees that regularly work in California. Additionally, the hours an employee works do not affect his or her entitlement to workers’ compensation.
High-profile cyber risk on companies such as Target and Sears has raised awareness of the growing threat of cybercrime. Recent surveys conducted by the Small Business Authority, Symantec, Kaspersky Lab, and the National Cybersecurity Alliance suggest that many small business owners are still operating under a false sense of cybersecurity. The statistics of these studies are grim. The vast majority of U.S. small businesses lack a formal Internet security policy for employees. Also, it is about a half have even rudimentary cybersecurity measures in place. Furthermore, only about a quarter of small business owners have had an outside party test their systems to ensure they are hacker-proof. Also, nearly 40 percent do not have their data backed up in more than one location.
Optimism is the fuel that drives the entrepreneurial spirit, so it isn’t surprising that most small business owners consider themselves optimists. Too much optimism, however, can get a small business owner into trouble. A business plan built solely on the “best-case scenario” is like a house of cards, one gust of wind—or fire or wrongful termination lawsuit—and the entire business can come crashing down. That’s why smart business owners temper their innate optimism with a healthy dose of reality. In other words, they learn to manage risk. The first step in implementing a comprehensive risk management plan is identifying potential risks. To help you get started, we have provided a list of the top 10 threats facing small business owners. As you read through the list, consider the unique risks facing your business and ask yourself whether those risks are being managed effectively:
Liquor Liability Insurance protects any business that sells or serves alcoholic beverages. Serving alcohol is a common practice for restaurants, bars, catering companies, entertainment venues, and similar establishments. While providing a wide array of beverage options is important. Serving alcohol, in particular, can create a variety of risks for business owners. For instance, if a patron of your business becomes intoxicated and injures a third party or causes property damage. Then you could be held liable for the damages. In order to protect your business from serious financial and reputational losses, it’s important to consider purchasing liquor liability insurance.
Crime insurance was developed to deal with the limitations of other policies and extend protection to include coverage for a wide variety of wrongdoing. While you may think your business would never be the victim of theft. The harsh reality is that nearly every business can become a victim. In this day and age, thieves do not need direct access to cash to steal from you. Moreover, merchandise, supplies, and securities are all fair game. While standard commercial insurance provides some protection from criminal acts, they often do not cover losses resulting from fraudulent activities.
Restaurant Security Protects Against Business Interruption in 2020. Restaurants can be easy targets for thieves. Dim lighting, high traffic, and a fast-paced environment mean restaurant workers have trouble detecting and preventing theft. Fortunately, there are ways to improve security at your restaurant and avoid potential business interruptions. Read more about this article and have the best business interruption insurance in Los Angeles.
With so many different types of small business insurance coverage to choose from. It can be overwhelming to determine what type is best for your small business. Business Insurance Los Angeles is here to help you. Also, we can explain the types of small business insurance coverage available and how they can help protect you.