As a business owner, you go to great lengths to provide a safe workplace for your employees. But unfortunately, accidents still happen — regardless of the precautions you take. Workers’ compensation insurance is a state-mandated insurance that provides income, medical benefits and rehabilitative services for workers injured on the job or while performing work-related duties. It ensures that injured workers receive financial compensation for medical care and for a portion of the income they lose while they are unable to work.
Workers’ compensation insurance helps protect employers from lawsuits initiated by workers injured on the job. Granite Risk Advisors offers customized workers’ compensation insurance across a broad spectrum of industries and occupations.
We thoroughly research and discuss every aspect of your business to deliver worker’s compensation insurance suited to your exact needs. We understand that your business is one-of-a-kind and needs specific protection.
- Competitive Quotes from multiple insurance companies.
- Straightforward Advice so you can confidently select and conveniently purchase the coverage your business needs at a price that’s right for your balance sheet.
- Ongoing Support to help ensure your coverage is up to date as your business changes.
No matter how careful you are, the mere fact that your company interacts with the public leaves your business vulnerable to lawsuits. Legal costs, court fees, and damages resulting from claims of negligence or harm can be devastating to you and your business.
A business liability insurance policy helps pay legal fees and any damages for claims made against your business. Granite Risk Advisors will provide you with protection recommendations and straightforward advice for your business.
There are three types of legal damages that are typically covered by a business liability insurance policy:
- Punitive – additional penalties and charges against the defendant in a lawsuit
- Compensatory – existing, and often, future financial losses
- General damages – non-monetary losses such as “pain and suffering” or “mental anguish”
Business Umbrella Liability Insurance
Umbrella liability insurance, or excess liability insurance, is a type of commercial insurance that covers a small business or contractor for liability claims that exceed the underlying limits of liability coverage. Umbrella policies add an extra layer of public liability insurance protection for the small business owner.
An example of an insurance claim covered under an umbrella liability insurance policy is an employee involved in an at-fault fatal automobile accident with a company vehicle in which multiple people were also injured. If the total injuries, property damage, and lawsuits were to exceed the limit of liability under the commercial vehicle insurance policy, the umbrella insurance policy would offer the excess limit of insurance protection.
If your business has any amount of assets to safeguard, you should consider adding an extra layer of liability insurance protection by purchasing an umbrella liability insurance policy.
Cyber Liability & Data Breach
In today’s technology driven world the risks associated with doing business online and storing sensitive customer data electronically have never been greater. Cyber risk is steadily increasing and data breaches now affect hundreds of millions of records a year.
Reports of breaches continue to rise at a dramatic rate and there is not a week goes by without another company (from large corporate enterprises to small local businesses) reporting a loss as a result of a cyber attack. With data breaches now a mainstream business issue, a growing number of U.S. businesses are covering their risk by purchasing cyber-insurance.
It does not even have to be a hacker – losing a company laptop with sensitive customer data, such as Social Security numbers or credit card details, also opens you up to cyber exposure. You are responsible for protecting this data and can be liable if it is compromised.
Cyber security threats can result in significant out-of-pocket and reputational costs to a company. Many states now require companies to notify all of their customers if a breach is even suspected and to take necessary steps to correct the situation. This could be costly not only to your bottom-line, but also to the level of trust and confidence your customers have in your company.
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Granite Risk Advisors offers a wide variety of Commercial Insurance Products & Customized Liability Protection at affordable pricing.
We provide personalized customer service, work diligently to accurately assess your business needs, and present affordable plans that provide the best coverage.