Professional Liability Insurance vs. General Liability Insurance
Posted: March 19, 2021
All businesses, large and small, face the risk of liability. Professional liability insurance and general liability insurance both provide protection for your business. The main difference between these two types of insurance is the different risks they cover. What Is Professional Liability Insurance? Also known as errors and omissions (E&O) insurance, professional liability insurance is designed to protect you in case a client files a...
How to Roll Over Your 401(k)
Posted: March 13, 2021
If you leave your job for reasons other than retirement, you have four options on what to do with your 401(k). You can: Leave it with your former employer Consolidate it into your new employer’s 401(k) plan Cash it out Roll it over into an IRA or Roth IRA. Rolling Over a 401(k) to an IRA IRAs offer more investment options than 401(k)s. IRA fees...
Avoiding Workers’ Comp Fraud
Posted: March 4, 2021
Workers’ compensation fraud can be expensive for employers. One of the most common types of workers’ comp fraud is employee fraud. This involves workers who seek to receive benefits under false pretenses. How Do Employees Commit Workers’ Comp Fraud? Employees have been known to commit several types of fraud to obtain workers’ compensation, including: Off-the-job injury: An employee is injured on his own time, but...
Am I Required to Provide My Employees with Short-Term or Long-Term Disability?
Posted: February 28, 2021
Short-term disability insurance provides some income replacement when a non-work-related illness or injury leaves an employee unable to work for a limited time period. Long-term disability insurance serves the same purpose, only for longer periods of time, ranging from two years to retirement age, depending on the policy. No law requires employers to offer long-term disability insurance to employees. However, five states and Puerto Rico...
Do I Really Need Cyber Liability Insurance?
Posted: February 19, 2021
Cybercrime has become a common occurrence. A data breach can have a tremendous impact on the health and finances of a business. If your company’s data was stolen in a cyber incursion, it can damage its reputation, expose it to liability, and interrupt business operations. Cyber liability insurance allows you to transfer some of that risk to an insurance company. What Are the Cyber Risks...