Articles by James Cochran on ArticleSnatch.com

Employment Practice Liability Insurance (EPLI)

Mon, 14 Dec 2009 02:28:24 -0500

Companies of all types and sizes face employment-related liabilities. In increasing numbers, current former and potential employees are filing claims against employers alleging sexual harassment, age and gender discrimination and wrongful termination. Indeed, more than 30% of civil litigation cases heard today involve employment-related liabilities. Disturbingly, this percentage has been on an increase in recent years. Large organizations with multi-layers of management and large number of employees have the greatest chance of facing an employment practice liability claim. But no company is immune. For example, small businesses lacking an experienced and well staffed human resource department are also at high risk. Other warning signs include: - A high growth rate. - A high turnover rate. - A lack of written employment guidelines and human resource manuals. - A lack of supervisory training programs. - An inexperienced management staff. - A history of employment problems. - Poor performing employee benefit programs. Reducing Your Risk There are a number of prudent steps a company can take to reduce its employment practice liabilities. All such remedies center on installing a comprehensive human resource management program and then training managers and employees in proper workplace conduct. Protective measures begin in the hiring process. **End Summary** Topics: small business insurance]]> general liability insurance]]> professional liability insurance]]> business insurance]]> small business insurance]]>]]> About the Author: ]]> James Cochran is the founder of BusinessInsuranceNow, an online provider of corporate and small business insurance as well as general liability insurance . BusinessInsuranceNow.com strives to provide fast, affordable and comprehensive professional liability insurance to all clients, large or small

Media Liability Insurance

Mon, 14 Dec 2009 00:37:20 -0500

As technologies advance, so grow new liabilities. Nowhere is this more evident than in the area of creating, storing, sharing and transmitting electronic information. Previously, only the publishing and broadcast media industries needed to be largely concerned with liabilities related to copyright infringement, libel, slander and defamation. But today, when virtually every type of company now publishes websites, distributes emails and broadcasts electronic media, the need for media liability protection crosses all industry lines. Hi-tech companies that support the creation and distribution of electronic media for others are particularly vulnerable to these growing liabilities. Enter Media Liability Insurance In response to this growing liability and need for protection, the insurance industry has developed Media Liability Insurance. Essentially, this is a form of "��errors and omissions"�� or "��professional liability"�� insurance designed to protect firms from claims that allege financial loss due to the distribution of proprietary or false information. Liabilities that are typically covered include: - Copyright and trademark infringement - Defamation of character or product - Personal disparagement - Invasion of privacy. Are You Vulnerable? Consider: Your webmaster posts customer service advice on your website that, unbeknownst to you, includes copyrighted information. **End Summary** Topics: professional liability insurance]]> business insurance]]> online insurance provider]]> ]]>]]> About the Author: ]]> James Cochran is the owner of TechInsurance, an online provider of professional liability insurance and business insurance to those involved in the IT industry. TechInsurance is now America"ï¿½ï¿½s leading online insurance provider for computer consulting and web service companies.

Professional Liability Insurance Requirement for Marketing Consultants

Sat, 26 Sep 2009 09:40:50 -0400

If youâ€™re a marketing consultant, you probably have at least one client company that requires you to carry some type of insurance. Maybe you run a small marketing or market research firm with a few employees, or maybe youâ€™re an independent Internet marketing consultant or media professional. Regardless, you might wonder: Is all this insurance for marketing consultants really necessary? If your client says you need it, you know you have to get it to secure the work. The good news is, in the majority of instances, getting the required marketing consultant insurance coverage can be both affordable and healthy for your business. In general, client companies want their marketing consultants, researchers and media professionals to carry some or all of the following three types of coverage: General liability insurance General liability insurance covers injury to people or damage to property. To marketing consultants, insurance like this may seem unnecessary. After all, whatâ€™s the likelihood that someone leading a meeting or presenting slides will damage a clientâ€™s property or hurt someone? **End Summary** Topics: professional liability insurance]]> general liability insuranc]]>]]> About the Author: ]]> James Cochran is the founder of Business Insurance Now, a company committed to providing quality professional liability insurance to small businesses. Jim has been actively involved in the industry for over a decade and understands the value that general liability insurance has for consulting companies.

Successful Consulting Means Understanding Your Client's Overall Goals

Sat, 25 Jul 2009 12:52:52 -0400

Every management consulting project is driven by a business requirement. Often, management consulting businesses are called upon to meet those business requirements by enhancing the productivity, management, delivery or performance of a companyâ€™s information technology investment. Investing in the right IT solutions and implementing them optimally can enhance business performance, reduce costs, and create a more-productive work force for your client. On the other hand, the failure of a high-cost project can make a company reluctant to pursue future technology investments, resulting in a performance gap between the company and its competitors. Thatâ€™s one reason why so many companies look to management consultants to oversee IT-related projects: They want to be sure theyâ€™re getting the highest possible performance out of their investment. Getting IT Right When youâ€™re involved in a management consulting project that involves IT, itâ€™s important to translate the clientâ€™s business requirements into an approach that truly meets the business need and can help to fully utilize the clientâ€™s IT assets. Itâ€™s easy for a management consultant to sit in a meeting and listen to what the clients say they need their IT solution to do. **End Summary** Topics: liability insurance for engineers]]> business insurance]]> small business insurance]]> workers compensation insurance]]> workers compensation]]>]]> About the Author: ]]> About the Author: James Cochran is the founder of Business Insurance Now. For more than a decade, Jim has been helping consultants get the best management consulting liability insurance and general liability insurance available. Business Insurance Now"'s network of carriers can get you the best quotes on management consulting business insurance.

Why Clients Require You To Carry Insurance

Sat, 04 Jul 2009 00:00:00 -0400

If youâ€™re in engineering, youâ€™ve probably encountered plenty of situations in which youâ€™re required to carry some level of insurance. Maybe you run a small engineering consultancy with a few employees, or perhaps youâ€™re a solo professional engineer. Either way, you might wonder why all that coverage is needed. You already know the deal: If the developer says you and your engineers need insurance, you have to get it in order to get the job. However, in virtually all cases, getting the required insurance coverage can be both within your means and beneficial for your business. Commonly, clients require proof of some or all of the following three types of insurance from professional engineers: General liability insurance This type of liability insurance for engineers covers damage or injury to your clientâ€™s people or property (excluding professional liability, of course). When it comes to this type of insurance, engineering consultants often ask: Do I really need this coverage? After all, what are the odds that someone making drawings in his own office will damage a clientâ€™s property? Donâ€™t take it personally. **End Summary** Topics: liability insurance for engineers]]> business insurance]]> small business insurance]]> workers compensation insurance]]> workers compensation]]>]]> About the Author: ]]> About the Author: Jim Cochran is the founder of Business Insurance Now, a company specializing in providing liability insurance for engineers . Jim has been providing professional liability insurance quotes for over a decade and his network of carriers ensures that you will get the best rate on your small business insurance needs.

Management Consultant Insurance and Liability Protection

Fri, 03 Jul 2009 00:00:00 -0400

If youâ€™re in the management consulting business, you probably have clients that require you to carry some level of insurance. Maybe you run a small firm with a few employees, or maybe youâ€™re an independent freelancer. Either way, you might wonder if youâ€™ll ever actually use all that coverage. If your client says itâ€™s necessary, you will need to obtain professional liability insurance if you want to secure the job. The good news is that getting the required insurance coverage can be both affordable and good for your business. Typically, companies want their management consultants to carry some or all of the following three types of coverage: General liability insurance General liability insurance covers businesses in the event of an on-site injury or damage to company property. Management consultants often wonder whether they really need this type of coverage. After all, whatâ€™s the likelihood that someone giving a presentation or attending a meeting will damage a clientâ€™s property or hurt anyone? Is there really a risk of liability for management consultants? **End Summary** Topics: business insurance]]> small business insurance]]> workers compensation insurance]]> workers compensation]]> liability insurance]]> worker compensation]]> insurance]]>]]> About the Author: ]]> In business for over a decade, James Cochran, founder of Business Insurance Now, an insurance company specializing in professional liability insurance , knows the implications and responsibilities of business ownership inside and out. Business Insurance Now offers comprehensive business coverage, including management consultant insurance and more.

What Makes a Good Network Services Agreement

Fri, 03 Jul 2009 00:00:00 -0400

Your client has agreed to hire you for a managed network services project, and youâ€™re ready to start ordering the necessary equipment and software and developing your implementation plan. But before you do, thereâ€™s one very important detail you need to take care of first: securing your clientâ€™s signature on a network consulting services agreement. A contract for network consulting services governs the relationship between you and your client, clearly defining expectations on both sides so that there are no surprises down the line. Every time your company provides managed network services involving design, installation or maintenance, you need the protection of a solid contract. You could hire your own lawyer to write one up, but a more affordable approach is to use an existing template contract for network service providers. Using a template guides you through defining the scope of services that you will perform on an ongoing basis for your client, and helps ensure that youâ€™ve addressed the most common variables inherent in the project. The idea is to clearly establish the rights and responsibilities of each party over the term of the agreement, reducing the possibility of any misunderstandings that could arise from a lack of communication. **End Summary** Topics: consulting contracts]]> non disclosure agreement]]> network consulting service agreements]]> legal form]]> contracts]]> agreements]]> contract forms]]>]]> About the Author: ]]> About the Author: James Cochran is the founder of ContractEdge.com, a website specializing in consulting contracts . He has template software for network consulting service agreements , non disclosure agreements and more, perfect for independent contractors and consultants.

IT Staffing Agencies Need General Liability Insurance

Sun, 21 Jun 2009 00:00:00 -0400

IT staffing agencies are familiar with their clientsâ€™ requirements for insurance coverage, and know that they have to have the insurance to get the business. But you may wonder if all that coverage is really necessary. The good news is that in almost all cases, the insurance coverage your client requires can be both affordable and beneficial to your business. Beyond finding a reputable insurance agency, staffing firms need to do their homework to reduce their liability in client dealings. Typically, clients want their IT recruitment agencies as well as the information technology subcontractors those companies hire on their behalf to carry some or all of the following four types of coverage: General liability insurance General liability insurance for IT staffing agencies covers damage to property or injury to people. Client companies often require all of their vendors from plumbers to IT staffing firms to show proof of general liability insurance. In some cases, the mandate is driven by the clientâ€™s risk managers, who seek to reduce the companyâ€™s risk of financial loss due to lawsuits. **End Summary** Topics: general liability insurance for IT companies]]> workers"'"" compe]]>]]> About the Author: ]]> James Cochran is the founder of TechInsurance. For over a decade, Jim has been helping IT staffing agencies obtain general liability insurance . The TechInsurance network of carriers can get you some of the quickest quotes for professional liability insurance to cover your small business or fidelity bond insurance for IT staffing agencies to cover your employees.

Business Liability Insurance for System Integrators and Custom Programmers

Sat, 13 Jun 2009 00:00:00 -0400

Whether youâ€™re working directly with a client or through a staffing firm, if youâ€™re a systems integrator or custom programmer, youâ€™ll probably have at least one client who requires you to carry insurance. Maybe you are responsible for employees, or maybe you work freelance. Either way, you might wonder if all that coverage is really necessary. You already know the bottom line: if you want to land a potential client that requires insurance, you better have the insurance. The good news is that in almost all cases, the insurance coverage your client requires can be both affordable and can reduce liability for your business. Typically, clients want insurance for software developers, system integrators and programmers to include some or all of the following four types of coverage: General liability insurance General liability insurance covers damage to property or injury to people. Client companies often require every vendor from plumbers to IT contractors to show proof of general liability insurance. In some cases, the mandate comes from the clientâ€™s risk managers, who want to reduce the companyâ€™s potential liability and financial loss due to lawsuits. **End Summary** Topics: general liability insurance for IT companies]]>]]> About the Author: ]]> James Cochran is the founder of TechInsurance, a company providing general liability insurance for IT companies . TechInsurance offers a variety of insurance types from workers"' compensation insurance to professional liability for software engineers and programmers .

Do I Need Managed Web Hosting or Shared Web Hosting

Sun, 08 Feb 2009 00:00:00 -0500

Deciding whether to select a managed Web host or a shared Web host depends on the level of security required by your company and how much traffic your site generates. While shared hosting is the most common type of hosting available, and ideal for most Web site needs, managed Web hosts are more suitable for accommodating sites with high traffic or those that contain sensitive information, and security is a concern. When shared Web hosts are sufficient Shared Web hosting refers to multiple Web sites sharing space on a single server. This option is typically the best solution for smaller Web sites that do not have excessive traffic. Paying for a dedicated server with managed hosting can become costly and is unnecessary for small sites. When you opt for shared hosting, you purchase a package from a Web hosting company that includes a certain amount of space and bandwidth on the company's server. Web host servers are large and powerful, and have sufficient room and bandwidth capacity to host multiple Web sites. This option is cost effective, yet still allows the Web site owner access to a powerful server. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> James Cochran is the founder and CEO of Contract Edge. His company caters to independent contractors in the IT industry and offers online contract templates covering all their legal needs. Written by expert IT lawyers, Contract Edge offers legal templates for everything from web hosting agreements to consulting cont

Discuss When You Need a Software Development and Maintenance Agreement?

Sun, 25 Jan 2009 00:00:00 -0500

As a software and application developer, creating, customizing, maintaining and supporting software programs is the core of your business, and likely the most important asset to your company. Safeguarding that asset is absolutely essential to operation. What are you doing to protect your work and limit your terms of support? When should you use a software maintenance agreement? In nearly every business relationship you foster, it is essential to protect yourself and your business, especially if you work as a software and application developer. Custom software development and software maintenance agreements protect your rights during the term of the relationship with a specific client. These agreements will determine the length of the engagement, the level and hours of support and maintenance for which you are responsible, and any updates or enhancements that they may be entitled to. It also states which support, maintenance and installation services that do not fall in the parameters of the scope of work might require additional compensation. Most importantly, the agreement will limit your liabilities and responsibilities, excluding errors that result from client misuse, alteration or damage, and will prohibits your clients from hiring away your maintenance and support employees. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> About the Author: James Cochran is the founder and CEO of Contract Edge. His company caters to independent contractors in the IT industry and online contract templatescovering all their legal needs. Written by expert IT lawyers, Contract Edge offers legal templates for everything from software development contracts to subcontractor agreements .

How To Find an IT Consulting Company

Tue, 20 Jan 2009 00:00:00 -0500

Whether you need a major Web site overhaul, customized software or networking solutions, finding the right IT consulting company to handle your needs is key to producing the desired results and ultimately positively impacting your bottom line. Finding a professional that delivers what they promise can sometimes feel like finding a needle in a haystack. If you are considering hiring an IT consulting company, conducting some background research can save you time and money in the long run. First, it is a good idea to ask the consultant for multiple references and then be sure to call the references and follow up on them. Ask the references about the results they experienced and if the consultant was easy to work with. Also find out if they experienced any problems in dealing with the individual. If they have, ask for specific examples. In many circumstances, itâ€™s typically safer to work with someone that you sought out as opposed to someone that cold called you. While there are reputable consultants that engage in marketing and cold calling, most good consultants are typically too busy with referral business to cold call for new business. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> James Cochran is the founder and CEO of Contract Edge. His company caters to independent contractors in the IT industry and offers online contract templates covering all their legal needs. Written by expert IT lawyers, Contract Edge offers legal templates for everything from non-disclosure agreements to employment agreements.

Improperly Utilized Statements of Work in IT Contracts

Sun, 11 Jan 2009 00:00:00 -0500

As an independent IT consultant youâ€™ve just landed another client. Youâ€™ve taken the time to get the proper insurance and had the client review and sign your contract. But does the contract contain enough detailed information within the statement of work? A statement of work should clearly define the scope of the business relationship and the rights and responsibilities you have while providing your services. Often, too few details can result in a contract going sour. For example, a web designer was hired to create an online management system for a client so they could keep track of each of their accounts and the status of their projects. A Web design statement of work was drafted to outline what the management system would include and how much it would cost. The web designer delivered the completed system several months later. However, after the client had requested enhancements, the original delivery date was missed. The client not only refused to pay for the additional time involved in developing the enhancements, but requested a discount because the deadline was missed. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> About the Author: James Cochran, founder of Contract Edge, an online provider of templates for employment contracts and web service agreements, is an expert in legal and technical matters. In business for over a decade, his well written legal forms are developed by leading IT lawyers and cover everything from nondisclosure agreements to web hosting agreements

When Do You Need a Non Disclosure Agreement?

Sun, 04 Jan 2009 00:00:00 -0500

Youâ€™ve been diligent about locking away your most sensitive documents in the filing cabinet each night, and encrypting all of your electronic files with passwords, but what about the information that is shared among employees on a daily basis? Do you have a non-disclosure agreement in place? When do you need one? A non-disclosure agreement governs the relationship between you and any existing or potential business associates or employees. It is typically recommended that this type of agreement is used prior to entering into any negotiations, interviews or other situations in which confidential information or materials are exchanged. The safeguards of a non-disclosure agreement A non-disclosure agreement clearly defines conditions, between you and a business associate, for exchanging and using confidential information and materials. It also requires that parties involved keep sensitive information confidential, outlines resolutions for agreement violations, and calls for arbitration in the event a dispute regarding violations arises. The non-disclosure agreement is essential for keeping information protected, and should be implemented anytime confidentiality is imperative. These agreements are most suitable in situations in which information sharing between two parties is necessary, but it needs to be kept confidential from the general public. **End Summary** Topics: employment agreement]]> non disclosure agreement]]> license agre]]>]]> About the Author: ]]> About the Author: James Cochran, founder of Contract Edge, an online provider of templates for employment contracts and web service agreements, is an expert in legal and technical matters. In business for over a decade, his well written contract forms are developed by leading IT lawyers and cover everything from non disclosure agreements to web hosting agreements.

What Makes an Independent Contractor an Independent Contractor and Not an Employee?

Tue, 30 Dec 2008 00:00:00 -0500

How do you differentiate between an employee and an independent contractor? Itâ€™s a seemingly obvious answer, but in some cases the separation can become difficult. The classification can significantly change the type of contract between the two parties, as well as the tax structure, the type of insurance required and the benefits the worker may be entitled to. For employers, taxes and insurance are easier and more cost effective when hiring an independent contractor over an employee. However, if you are going to be a major contributor to the business, employee status offers greater benefits than working as an independent contractor. What is an independent contractor? An independent contractor is classified as an individual who is self-employed and utilizes an independent contract agreement to provide services to a client in exchange for an agreed upon fee, which may include some form of commission. The independent contractor is also responsible for end product or delivery of service, but the employer has no oversight on how the project is completed. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> James Cochran, founder of Contract Edge, an online provider of templates for employment agreements and web service agreements, is an expert in legal and technical matters. In business for over a decade, his well written independent contractor agreements are developed by leading IT lawyers and cover everything from non-disclosure agreements to web hosting agreements.

Reviewing Contracts Thoroughly - Advice from Service Professionals

Mon, 22 Dec 2008 00:00:00 -0500

Being self-employed can be one of the most lucrative and satisfying careers available, but it requires due diligence on the part of the independent professional. Whether working in information technology, entertainment or business consulting, itâ€™s increasingly important not only to have an employment contract in place, but also completely understand all of the fine print within the document before signing it. Often, when independent contractors donâ€™t have an employment agreement in place they can be vulnerable to the whims of the employer.. If you are considering going into the voice-over business, for example, think of it as going into business for yourself. Not only do you have to equip yourself with knowledge in acting and recording, it is also valuable to have some knowledge in marketing, promotions, bookkeeping and drafting your own contracts. Beware of misleading language and know your rights Contracts are often laden with industry jargon and it can be confusing if you donâ€™t read the fine print. Take, for instance, the following example: union actors cannot, under any circumstances, accept a buy-out, which is a one-time fee foreverâ€ payment. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> James Cochran, founder of Contract Edge, an online provider of templates for employment agreements and web service agreements, is an expert in legal and technical matters. In business for over a decade, his well written contract forms are developed by leading IT lawyers and cover everything from non-disclosure agreements to web hosting agreements.

Becoming an Independent Contractor?

Sun, 14 Dec 2008 00:00:00 -0500

Itâ€™s a rewarding career, but what should you look out for? Working as an independent contractor or consultant can be a very rewarding, lucrative and satisfying career. Beyond knowing the dynamics of your field, however, you also have to understand how to keep the business operating smoothly and how to protect yourself and your assets. What does being an independent contractor entail and what should you be cognizant of along the way? First, an independent contractor is an individual who is self-employed and utilizes a contract agreement to provide service to a client in exchange for an agreed upon fee. Below are some frequently asked questions and guidelines to help you better understand what consulting and independent contractor work involves. Q1. Who do independent contractors and consultants typically work for? A. This is dependent on the industry that the independent contractor focuses on. It might include information technology, web development, consumer products, and manufacturing, to name a few. Businesses both large and small will often utilize the services of an independent contractor for a variety of jobs. Q3. How do independent contractors receive payment? A. Typically, any credentialed organization will disclose payment terms and conditions in a written agreement. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> About the Author: James Cochran, is the founder of Contract Edge, a provider of contract template software for independent contractors. James is an expert when it comes to the ins and outs of independent contractor agreements , employment contracts for small businesses and all other types of IT consulting agreements .

Before Hiring Tech Support, Check the Fine Print on the Computer Service Contract

Tue, 09 Dec 2008 00:00:00 -0500

Today, the hub of the small business and home-based entrepreneur is the computer system and network. For many users and business owners computers are the lifelines of the company, but what if they suddenly crashed? Will your computer service contract cover faulty work, loss of data, or future problems? Before signing a contract and allowing an IT contractor to perform work on your system or network, it is essential to read the fine print. Often times, unprofessional businesses may offer very little in the way of a warranty. Contracts will alert you to those contractors who may not carry the credentials necessary to ensure your future success, and will also alert you to low-quality technical work. It is important to only work with companies who offer reputable computer support services. Be aware of poorly written computer service contracts Purchasing computer service contracts can prove to be one of the most important investments you can make in the future of your work. Itâ€™s equally important however, to find a contractor with substantive training and a solid service contract; otherwise you may be subject to major problems down the road. **End Summary** Topics: legal form]]> contracts]]> agreements]]> confidentiality agreement]]> ]]>]]> About the Author: ]]> About the Author: James Cochran, is the founder of Contract Edge, a provider of contract template software for independent contractors. James is an expert when it comes to the ins and outs of independent contractor agreements , employment contracts for small businesses and all other types of computer service contract

ASP Agreement Components & Inclusions

Fri, 05 Dec 2008 00:00:00 -0500

For Application Service Providers anyone who provides clients access to licensed software and application services implementing a system of checks and balances, risk management procedures and quality control is invaluable. Typically a solid Application Service Provider (ASP) Agreement will fulfill these needs. An Application Service Provider Agreement manages the relationship between an ASP and the licensed user. In other words, it sets limits and expectations on the use of your software and applications server. It also controls who has access to the software or servers as well as where and when they can be accessed. An ASP Agreement will also prevent modification or reverse engineering of the software and determine server storage space available for each client, which limits exposure to infringement on intellectual property rights and confidentiality. Most importantly, these agreements reduce the ASPâ€™s liability for deficiencies and defects in the software or on the server. ASP Agreements are not only necessary for large-volume ASPs; they also cover service providers who offer single applications to their clients. **End Summary** Topics: employment agreement]]> consulting contract]]> license agreement]]>]]> About the Author: ]]> About the Author: James Cochran, is the founder of Contract Edge, a provider of contract template software for independent contractors. James is an expert when it comes to the ins and outs of ASP agreements , employment contracts for small businesses and all other types of web service agreements .

Business Interruption Insurance: Are the Business' assets Adequately Covered?

Thu, 04 Dec 2008 00:00:00 -0500

If severe storm damage caused your business to shut down, would you be able to sustain the company while the repairs were being made? If the closure spanned several months would you be able to pay the continuing expenses such as the mortgage or rent, taxes, the salaries of you and your employees, vendor invoices and other bills on top of the repair costs? Less than half of all businesses have interruption insurance built into their business ownerâ€™s policy (BOP). Those that donâ€™t, often find they do not have enough income to continue to operate the business when a loss is suffered, or, in some cases, they begin to deplete their reserves. Make Sure You are Fully Covered Business interruption insurance replaces normal business income when insured losses negatively impact a businessâ€™s bottom line. It reimburses a company for lost income until the company is able to resume full operations. For instance, if a business is inoperable for a month due to a fire or storm damage, business interruption insurance would typically reimburse the company in the amount of the net income that would have been expected for that same month based on previous history. **End Summary** Topics: small business insurance]]> commercial general liability]]> work]]>]]> About the Author: ]]> James Cochran the founder of Business Insurance Now has been helping clients get the best small business insurance available. Business Insurance Now"'s network of carriers can get you the best quotes on commercial general liability insurance to cover your small business in the event of a disaster or workers comp insurance to cover your employees.

Why Should Accountants and Bookkeepers Get Errors and Omissions Insurance?

Tue, 02 Dec 2008 00:00:00 -0500

A common misconception is that doctors and lawyers are the only professionals in need of Errors and Omissions (E&O) insurance. In fact, nearly every organization that provides a service to a client for a fee has E&O exposure, and because professional requirements are broadly defined in legal terms, Professional Liability insurance shields businesses from the unforeseen. Errors and Omissions insurance, also known as Professional Liability Insurance, protects organizations or individuals against claims of professional negligence throughout a variety of professional services. This includes errors or omissions that the company actually made or that the client perceives were made. Errors and Omissions claims are not covered by General Liability insurance. Insurance for Tax Preparers Errors and Omissions insurance is particularly important for Certified Public Accountants, bookkeepers and tax preparers. Every year, in the U.S., thousands of suits are filed against tax preparers and bookkeepers, and, in the wake of nearly every corporate scandal, new lawsuits arise. For bookkeepers, tax preparers and accountants, the tax and audit landscape is constantly changing. **End Summary** Topics: small business liability insurance]]> professional liability i]]>]]> About the Author: ]]> James Cochran is the founder of Business Insurance Now, a company specializing in small business liability insurance . Business Insurance Now also offers professional liability insurance for accountants or those in the consulting industry and workers comp insurance to cover your company"'s employees.

Make Sure that Your Insurance Coverage Grows as Your Company Does

Mon, 01 Dec 2008 00:00:00 -0500

A primary goal of new business owners is to keep operating costs low. At launch, they may not have a tremendous amount of risk or liability, and will only purchase the necessary insurance such as Commercial General Liability coverage and workersâ€™ compensation. Over time, as the company grows in size, profits and liability, many business owners donâ€™t take the time to reexamine their policies to ensure they have adequate insurance coverage. Why Your Basic Coverage Might Not Be Enough Typically, with Commercial General Liability policies, four types of claims are covered: â€¢ bodily injury; â€¢ property damage or loss; â€¢ personal injury, such as libel or slander; â€¢ advertising injury. While commercial liability insurance is fairly inexpensive, costs for defending a claim are not. This is where General Liability comes in. This will cover all damages, legal fees and settlement charges up to the policy limits. General Liability is often packaged with Property coverage in a Business Ownerâ€™s Policy (BOP). BOPs are designed specifically for small- to mid-sized businesses that are classified as low-risk. It should include physical assets, such as office furniture and computers, and, in some cases it will cover loss of business income. **End Summary** Topics: small business insurance]]> errors and omissions insurance]]> ge]]>]]> About the Author: ]]> James Cochran the founder of Business Insurance Now-dedicated to provide quality small business insurance . Jim is actively involved in the industry for over a decade and understands that errors and omissions insurance has for consulting companies. His network of carriers can get you the lowest rates available on general liability insurance for your small business

What is required for commercial liability coverage? What is optional?

Fri, 28 Nov 2008 00:00:00 -0500

Is a small service company less likely to have a lawsuit brought against it than a manufacturing plant? No, but this is a common misconception among office-based businesses. The fact is, in todayâ€™s dynamic and complex business climate, businesses small and large, office-based, or physical-labor intensive, are all equally susceptible to various claims. Typically, with Commercial Liability insurance coverage, four types of claims are covered: bodily injury; property damage or loss; personal injury, such as libel or slander; and advertising injury. While commercial liability insurance is fairly inexpensive, costs for defending a claim are not and if the company does not have adequate commercial liability insurance coverage, it may have to foot the bill. This, in turn, could lead to financial hardship or bankruptcy. Commercial Liability insurance coverage will pay for all damages, legal fees and settlement charges up to the policy limits. Commercial Liability insurance for office-based businesses is absolutely essential for financial planners, mortgage brokers, medical offices, architects, and engineers, to name a few. Too often, however, a business owner will forego liability insurance in an effort to reduce operating costs. **End Summary** Topics: business insurance]]> small business insurance]]> risk managemen]]>]]> About the Author: ]]> James Cochran is the founder of Business Insurance Now, a company specializing in commercial liability insurance. Business Insurance Now also offers professional liability insurance for those in the consulting industry and workers comp insurance to cover your company"'s employees.

The evolution and importance of management consultants

Wed, 26 Nov 2008 00:00:00 -0500

As a management consultant your clients turn to you for advice and expertise, to improve their performance, or for strategy development. In this capacity you will often bring your own proprietary methodologies or strategies to identify problems or provide recommendations, which can open you to more exposure and certain risks. There are certain precautions management consultants can take to reduce the risk level. One important precaution is arming yourself with Professional Liability insurance for management consultants. Business insurance coverage, and particularly Professional Liability insurance, is important for any business owner, but for those that provide consulting services, it is critical. While Business Liability insurance coverage addresses claims of bodily injury or property damage, Professional Liability insurance, also known as Errors and Omissions (E&O) insurance, protects individuals and organizations against claims of professional negligence and errors or omissions in professional work. Specifically, Professional Liability insurance for management consultants will help protect against cases in which a client is dissatisfied with an outcome from a recommended business strategy, if they are disappointed in the perceived value of the service, or if they are financially harmed as a result of a consultantâ€™s mistake. **End Summary** Topics: small business insurance for management consultants]]> errors]]>]]> About the Author: ]]> James Cochran is the founder of Business Insurance Now-dedicated to provide quality small business insurance for management consultants . Jim is actively involved in the industry for a decade and understands that errors and omissions insurance has for consulting companies. His network of carriers can get you the lowest rates available on general liability insurance

Fraud: No small matter for small-businesses

Tue, 25 Nov 2008 00:00:00 -0500

Workersâ€™ compensation, which is required by law in nearly all 50 states, provides medical and disability coverage for employees who are injured on the job. Employersâ€™ Liability, typically included on a Workerâ€™s Compensation policy protects employers from liability for an accident involving an employee. Because it is required, business owners often view it as a burden and another operating expense, but it can safeguard a company from the exorbitant costs of defending claims, even if those claims are considered to be fraudulent. Requesting Workersâ€™ Compensation insurance quotes from several companies can help business owners find the most cost effective coverage, as well as ensure they are adequately covered. Consider that in 2007, according to the Bureau of Labor Statistics, there were more than 335,000 cases of employees injured on the job due to contact with objects and equipment. How many of those were valid claims, and how many were found to be fraud? Often employers can uncover fraudulent claims, and are typically in the best position to do so. Workersâ€™ Compensation fraud is when employees knowingly lie to collect benefits. **End Summary** Topics: small business insurance]]> commercial general liability]]> work]]>]]> About the Author: ]]> James Cochran is the founder of Business Insurance Now. For over a decade, Jim has been helping clients get the best small business insurance available. Business Insurance Now"'s network of carriers can get you the best quotes on commercial general liability insurance to cover your small business or workers comp insurance to cover your employees.