5 Types of Insurance Your Business May Need
Owning a small or medium size business requires juggling a lot of priorities and responsibilities. For business owners, it can be tough to know exactly what you need to support your daily operations, and that certainly holds true for insurance. Small business insurance is essential for most, but many organizations should be protected for different sorts of situations beyond their standard insurance policies. Here are five types of insurance offered by Oegema, Nicholson & Associates that may fit the bill for your company. 
Types of Business Insurance
Employers Liability: Employers’ Liability is crucial for all businesses who are not required by law to carry Worker’s Compensation. It can protect your company from an employee who claims job-related injury. Even if you may not think of your company’s environment as a “risky” type of environment, Commercial Employers’ Liability Insurance is an ideal supplement to a commercial General Liability policy in order to make sure your business is protected from all angles.
Employment Practices Liability: We’re living in a time where corporate lawsuits are becoming commonplace. Employment Practices Liability Insurance (EPLI) works to keep your organization protected from that threat. Some common types of EPLI coverage include wrongful termination, discrimination, workplace harassment and more. If a suit is brought against your organization, it can provide some peace of mind to know that you have a policy that will support the company in such an event.
Professional Liability Insurance: If your company is in the business of providing advice or service to clients, you may want to consider professional liability insurance. It is also sometimes known as Errors & Omissions Insurance. Essentially, it can provide coverage in the event that you a client is trying to hold you liable for their financial losses.
Cyber Security Insurance: These days, companies are handling more of their customers’ data than ever before. Should you be subject to a data breach or a hack, that can be disastrous to your organization’s bottom line in several ways. Cyber security insurance is one way to protect your company from costs related to the fallout of such an incident. Speak to your local broker for more information.
Industry-Specific Insurance Policies: ONA offers a variety of insurance policies that are tailored to specific industries; these include policies that are tailored, such as
contractors insurance,
hospitality insurance, and more. For a full list, check out our page on
commercial insurance.
We’re experts in working with you to understand your business and recommend the appropriate types of insurance for your company. Contact us as your
local insurance broker and we’ll work with you to accurately assess the needs of your business, crafting a policy that fits your company’s specific needs.
