Bucks insurance expert, Ted Malloy, discussed at recent meeting a variety of insurance plans that benefit businesses.

Monday, 21 November 2016 13:52 Written by  Markoe-Boyd, Marlene Read 496 times
Published in Bucks Blog

Bucks member, Ted Malloy of the Limeri Agency, spoke to our group last week about the various insurance policies available to protect small business owners.

Ted discussed changes following 9/11 with respect to the coverage of terrorist attacks. Stand alone terrorism policies are available for businesses however many insurance carriers cover terrorism to some degree through property insurance. Terrorism specific policies can be obtained for those who want to supplement their normal commercial insurance.

 

Employment Practice Liability Insurance is another insurance package that has value to small businesses since it covers claims that an employee's rights were violated or other instances such as failure to promote or hire or illegal background checks. Ted cited that employee lawsuits have risen by 400 percent with the average settled claim costing 75,000 dollars. Cyber liability insurance is also offered to small businesses to cover human error with not protecting computer systems and its data or an outside element hacking a business's computer system. Businesses that have been hacked incur expenses associated with alerting each of their customers to the hacking occurrence and credit monitoring.

Last modified on Monday, 21 November 2016 14:19

Leave a comment

Enter your email address for a chance to win 25 Bucks Bucks