Risk & Business

Many business owners get a shock when they find out their general liability policy will not cover damage to their work or product. Unfortunately, many owners find this out after a claim. There are some circumstances that give rise to coverage but in most cases there is not. So let's break out how a general liability policy is put together and how you can expect it to respond to a claim. The policy provides coverage when your business is liable for  property damage and or bodily injury of others. In the course of your business  if you cause damage to another's property or injury to others, then you can expect the general liability policy to respond. However if the property damage is to your own work or product, or the injury is to you or your employees, the policy does not respond. This distinction is what business owners need to understand. When you buy a general liability policy, you are buying protection that your business activities may pose on others, not yourself.  Here

In an effort to improve tracking of workplace injuries, OSHA will be requiring business owners to submit injury records online. Prior to this year, most business owners would post at their OSHA 300 logs at their place of business. Effective this year in 2017, those logs will have to be electronically submitted to OSHA.  According to OSHA, this requirement is to "nudge" employers to focus on safety, by making injury information publicly available.  The rule went into effect on Jan 2017, however as of this date the portal is still not up and functioning to meet the July 1 deadline to send in your reports. Not all businesses have to report this year, so check the OSHA website to determine if your business is required. This is going to be a big change for business owners. Having their injury records posted for competitors and the public to see,  could be problematic. Many injuries that happen on jobsites are not necessarily an indication of lack of safety. Businesses with very lo

If your business suffers a water damage claim, do you know if your property policy will cover it?  Well it depends on whether the water damage is considered a flood, which is usually not covered. Check out our video blog to learn more . https://youtu.be/ee4h8V1dC-U G. Kevin Nemith , President CNC Insurance Associates & The Business Insurance Center www.cncinsurance.com www.bizinsurancetv.org