Business insurance must provide a company with as much financial protection as is necessary to keep the business open and functioning, even when a claim is made against the company. Mistakes happen. In some cases, accusations are made even if a mistake was not made. In all situations, professional liability insurance can provide support when negligence leads to potential loss. If you are facing a lawsuit or you are being accused of making a costly mistake, your insurance carrier is your support.
A key component of business insurance centers around providing you with ample protection against negligence claims. Although many business owners think of their insurer as a tool to call on when there is a claim, your agency may be able to provide you with step by step tips to reduce your negligence as well.
First, consider what your policy provides. It can help you to minimize the risk of having to pay out of pocket for lawsuits and settlements. Here are some examples:
- You own an office and someone falls coming into the space for a meeting.
- Someone is hurt while using the fitness equipment at your gym.
- A customer loses a tooth after biting into a product you provide.
- Your product fails and leads to an injury.
In any of these cases, liability insurance is available to help support the claims made against you. Professional liability insurance specifically can provide ample protection against losses related to the advice and resources you provide to a client.
But your business insurance can go even further. Contact your agent today and ask them about the steps and tools you can implement within your company that can help you reduce risk. This may include providing better service, but it often revolves around providing information, educating your customers and limiting negligence risks associated with your company specifically.
If you have not done so yet, get comprehensive business insurance that provides you with ample protection against negligence claims. The right tools and resources can help you to minimize the risks associated with keeping your business operational.
We’ll help you find the right coverage. Call Mitchell & Mitchell Insurance Agency at (888) 512-8878 for more information on Los Angeles professional liability insurance.