Rigel Hines and Associates Blog
Liability issues can become significant threats to small businesses. They can affect businesses, industries, and companies in various ways. Take note of these four standard liability issues you'll have to prepare for.
Issues concerning general liability mostly involve third party injuries, damage of property, or any other losses that took place inside your business property. For example, a customer accidentally slipped, without noticing that the floor was wet and got injured while walking inside your business. There is a possibility that the injured customer will most likely hold your company liable for their medical expenses. Also, the customer injured has the right to sue for damages to your company, so you'll want to be prepared to face a liability lawsuit.
Employment Practices Liability
Liabilities like these occur when a former or current employee claims that your business or company gave them unfair treatment. Most practices of standard employment liability have claims that include discrimination, sexual harassment, employment contract breach, and issues involving payroll. Businesses that are sued for matters of employment practices liability usually have to face lawsuits and are forced to have all damages paid.
Problems concerning cyber liability surface when your business experiences a breach of data or significant cyber attack. Which then resulted in compromised personal customer information. If you encounter this kind of situation, the company should bear the responsibility of informing the customers involved, lost data recovery, and securing the breached computer systems. Similar to the liability risks mentioned above, cyber liability can also lead to dealing with lawsuits.
This refers to the duty of the business premises to its customers. However, the duty owed will have to depend on the actions of the customer inside the business. There is a possibility that the company might be sued for the negligence of visitors if they encounter any injuries or damages. The industry will have failed to maintain the required standard of care. The victim will have to prove that the owner's negligence caused the injury or loss. The company should also understand that the visitor has legal rights when it comes to the inefficient standard of care.
Getting involved with these liabilities can cost a lot. But getting a business owner policy can help you cover all liability risks in only once package. So, get the right insurance package now for added protection.
At Rigel Hines and Associates, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (708) 283-7316 or Click Here to request a free quote.
Phone: (708) 283-7316