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Business Liability

Definition: Business insurance is coverage that protects a firm from damages or losses incurred through events during normal business activities. Damages to property, costs from lawsuits, and employee-related risks are a few different types of business ...

How Much is Business Liability Insurance?

ANSWER: It depends on your business. A general rule for low-risk industries is 20 to 30 percent of predicted gross sales as a budget.* Here is an in depth guide to understanding how to form a budget for your business liability insurance: Business ...

What Does "Liabilities" Mean in Business?

ANSWER: Liability is an obligation or debt of a business that comes from past transactions, services, or operations and are settled with the transfer of economic benefits such as money. *   Business Liability Meaning Liability in business is...

What is Business Liability Insurance?

ANSWER: Coverage that protects a business from claims and lawsuits arising from actions during business operations. The insurance covers costs of defense and settlements and protects the business's assets. *   Business Liability Insurance ...

Cyber Liability

Definition: Cyber liability covers a business's risk of a data breach that causes damage or loss of personal information belonging to customers. Cyber liability is designed to cover businesses that engage in business using technology services and electronic...

Cyber Liability Claims Examples

Here are some examples of cyber liability claims:* Cyber Liability - "Personal Records Disclosure" Case: A customer purchased a used computer that used to belong to a pharmacy. However, during inspection, the computer had contained old information...

What is Cyber Insurance?

ANSWER: A type of insurance designed to cover consumers of technology services or products.*   According to the International Risk Management Institute, here is an in depth guide to cyber insurance: Cyber liability is a type of insurance that cov...

What is Cyber Risk?

ANSWER: Cyber risk is the risk of any financial loss, compromised data, or damage to the business's reputation from some type of failure or corruption of its information technology systems.*   According to the National Association of Insurance C...

General Liability

Definition : General liability insurance is the financing to protect the purchaser or the "insured" from potential risk of liabilities from lawsuits and other claims due to losses that are covered within the insurance policy.

Human Resource Planning

Definition: Ongoing systematic planning that optimizes human resources, the most valuable component of an organization. Human Resource Planning is important in order to ensure the best working environment for stakeholders and employees and their jobs,...

Human Resource Planning Process

Human Resource Planning Process Or Steps Of HR Planning Human Resource Planning Process is how an organization forecasts future business and environmental forces and figures out what kind and how much labor and staffing they require to be able to meet...

What is Human Resource Planning?

Human Resource Planning is the process that connects the necessities of the organization to the strategic plan to make sure that there is an appropriate number of qualified and competent staff in order to achieve the organization's planned missions. HR...

Work Place Safety

As a business owner, not only providing employees with a safe and healthy workplace is critical to the well-being of your employees and the success of your business - but it is also the law. Under the Occupational Safety and Health Act (OSHA), employers...

Insurance Liability

Definition : Liability insurance is any type of insurance policy that protects the purchaser or "insured" from potential lawsuits or losses for liabilities such as injury, malpractice, or negligence to another individual or business.

Insurable Risk

Definition : Insurable risk is possible loss or damage that must be accidental, explained plainly, or a significant hardship in order to be insured. It also must be definable and similar to a large number of known exposures. An insurer must be able...

Insurance Risk

Definition : Insurance risk is the chance than an insured event will happen where the insurer is required to pay a claim. It is the possibility of loss, damage, injury, or other events against which insurance is provided.

Malpractice Insurance

Definition:  Malpractice insurance is a type of professional liability insurance that is carried by health care and law professionals, such as physicians, dentists, nurses, and lawyers. It is purchased by these individuals in order to protect them in ...

Do Physician Assistants Need Malpractice Insurance?

ANSWER: YES, IT IS IMPORTANT TO PROTECT YOU AND YOUR ASSETS AS A physician assistant BECAUSE YOU MAY GET SUED AT ANY GIVEN POINT IN YOUR CAREER.*   According to the Healthcare Providers Service Organization, here are some reasons and misconceptions fo...

Errors and Omissions Insurance

Definition: Errors and Omissions (E&O) insurance is also known as Professional Liability insurance (PLI) and is a form of liability insurance that protects the insured against negligence claims made by clients from services offered such as professional...

What is Errors and Omissions Insurance?

ANSWER: Errors and Omissions Insurance (E&O) is insurance that protects the insured for claims by clients for professional advice or products sold that lead to negligence and financial losses. Errors and Omissions Insurance is also known as Professional...

Should Nurses Carry Malpractice Insurance?

ANSWER: Yes, it is important to protect you and your assets as a nurse because you may get sued at any given point in your career.*   According to the Nurses Service Organization , here are the two most frequently asked questions: 1. Does ...

Privacy Policy

Insurance Risk ("http://www.insurancerisk.org ") operates http://www.insurancerisk.org  and may operate other websites. It is Insurance Risk's policy to respect your privacy regarding any information we may collect while operating our websites. Website ...

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Professional Liability

Definition:  Professional Liability Insurance protects traditional professionals such as accountants, attorneys, consultants, physicians, etc. against liability or claims from clients due to negligence, errors and omissions, or malpractice from services ...

General Liability vs Professional Liability

What is General Liability Insurance? General Liability Insurance is usually purchased in order to protect the insured from claims from bodily injury, personal injury, advertising injury, or property damage. General Liability focuses on physical damage...

What is Professional Liability Insurance?

ANSWER: Professional Liability Insurance is insurance that offers protection from claims that arise from negligence, errors and omissions, or malpractice from professional services or products offered to clients. The insurance helps covers the defense...