Lawsuit prevention and risk management in Virginia
There are so many financial and legal risks that owners face when running a business.
From employee negligence to product liability, owners cannot afford to disregard these risks. As a busy owner, you also cannot afford to spend your valuable time exploring all potential risks. Let me work with you to identify the risks and present my recommendations.
There are many types of business activities that can lead to liability. Premises liability may arise when a customer is injured in the establishment. Professional liability can arise when a customer alleges substandard work. Employer's liability can arise when an employee is injured at work. Here are the most common types of insurance policies:
- Business interruption insurance.
- Commercial general liability insurance. This policy generally covers premises liability,
operations liability, product liability, and completed operations liability. It does not cover vehicle liability, professional liability, or employer liability, each of which requires a separate policy. A general liability policy also provides medical payments coverage and personal and advertising injury liability.
- Vehicle insurance policy
- Workers' compensation insurance
- Crime insurance
- Cyber liability policy
- Umbrella policy
- Inland marine policy. This policy insures personal property when located away from the business premises. This is an important policy for construction firms.
- Professional liability policy
- Key man life insurance policy
What exactly can I do for you?
1. Review your business, identify legal risks, and make recommendations.
2. Give a presentation to your employees about minimizing some risks. For example, steps that they can take to reduce the possibility of customers being injured.
3. Review your proposed and current insurance contracts to make sure you are getting what you are paying for.