Archive for the ‘Professional Liability Insurance’ Category

What is Commercial General Liability Insurance?

Thursday, November 17th, 2011

If you operate a business in Maine, you may be asked for a certificate of insurance to prove that you have liability coverage. Some people think about liability insurance when they first start their business; others don’t think of it until someone asks for proof.

What Does General Liability Insurance Do?

GL insurance protects your business’ assets against lawsuits for:

  • Bodily Injury caused by your actions, or that happen on your premises.
  • Property Damage  that you cause to the property of others.
  • Personal Injury, such as slander, libel or invasion of privacy.
  • Products and Completed Operations Liability – in case your product or work harms someone or their property.

How Much Business Liability Insurance Do I Need?

Liability insurance protects your assets. So, you should at least carry enough to protect the net worth of your business. You may also be required to carry a certain limit of liability coverage in order to perform work for a certain client. A $1 million per-occurrence limit is common. Higher limits are available, as are commercial umbrella policies, which provide even higher limits.

What General Liability Insurance Does NOT Protect Against

  • Professional Liability, such as improper design, malpractice, errors or omissions. You need separate Maine professional liability insurance to get this coverage.
  • Employment Practices Liability, such as wrongful termination, sexual harassment or employee benefits liability. You should purchase Maine Workers’ Compensation and Employment Practices Liability Insurance if you have these exposures.
  • Auto Liability. You should purchase  Maine Business Auto commercial vehicle insurance if your company owns vehicles. If your company owns no vehicles, you should add Hired and Non-Owned Auto Liability coverage to your GL policy.
  • Pollution Liability. If your business uses pollutants, you should purchase separate insurance for this.

How Much Does General Liability Insurance Cost?

Rates vary, based upon factors including:

  • Type of business;
  • Your revenues or payroll;
  • How long you have been in business, and your qualifications;
  • Loss experience.
  • Whether you combine your business property coverage with your GL coverage.
If you have Maine business liability insurance questions, contact a Noyes Hall & Allen agent for prompt, professional answers.

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Posted in Business Insurance, Business Liability Insurance, Medical Professional Liability Insurance, Professional Liability Insurance, Workers Compensation Insurance | No Comments »

Three Ways to Keep Epsilon Spammers from Phishing Your Money!

Tuesday, April 26th, 2011

On March 30, Epsilon, one of the world’s largest email marketing companies, reported a breach of their system.  Epsilon sends more than 40 billion emails a year to consumers who register on one of their clients’ websites or who give their email addresses while shopping.

Have You Received an Email Like This One?

“Dear Valued Customer,
On March 30th, we were informed by Epsilon, a company we use to send emails to our customers, that files containing the email addresses of some [company name here] customers were accessed without authorization.”

Millions of people have. As of April 18, 2011, clients of more than 100 companies and brands have been hit, including big names like GlaxoSmithKline, Shell, Radio Shack, PacSun, Capital One, JPMorgan Chase, J. Jill, Sears, Crate & Barrel, Walgreens and Abercrombie & Fitch.

According to Epsilon, the breach was limited to email addresses or customer names only; they report that no other personal identifiable information was stolen. Despite that, many security experts are concerned about the implications.

Having even a person’s email address and their spending habits or favorite brands may make it easier to craft a sophisticated phishing attack. For example, you could get an email that appears to be from a company you know and trust, asking you to log in and provide  information that may seem harmless. This nefarious technique is called “spear-phishing”.

Prevent Phishing Attacks

1.  Stay on guard - especially now. Be extra careful about where you click and what information you enter on a website.

2.  Scrutinize emails from any company. Look for typos and strange URLs. Look at the email address of the sender. Don’t click on those links!

3.  Call the company in question if you get a suspicious email,. No company should be asking you for sensitive information by email.

If you have questions about identity theft in Maine, contact Noyes Hall & Allen, a Maine Trusted Choice independent insurance agent. If you’re looking for Maine data breach business insurance, our business insurance specialists can help.  Call us at 207-799-5541.

Thanks to Steve Anderson for sharing these tips, which we’re sharing with his permission.

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Posted in Business Insurance, Business Liability Insurance, Business Property Insurance, Current Affairs, Homeowners Insurance, Personal Insurance, Professional Liability Insurance | No Comments »

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