Insurance for your business

This time we will see insurance as a way to cover our assets or the commercial activity of our company. When we consolidate a business, the question may arise as to what happens to my company in case of unforeseen events beyond our control where it may be exposed to risks. It is good to know that, in the process of legalization of our business, the law requires some business insurance policies; on the other hand, others can insure us commercially. The insurances exist with the purpose of reporting guarantees for our company in case of natural disasters, embezzlement or labor accidents.

Commercial liability insurance.

Commercial liability insurance is one of the most legally important and serves the function of protecting both businesses and their owners and their financial interests in case of being involved in lawsuits. When we are owners of a sole proprietorship, we can resort to this type of insurance to protect us from damages such as property invasion, unjustified eviction or similar acts. This commercial liability insurance is in charge of covering the defense costs in case of legal suits against our company, as well as damages to property, both our own and that of third parties. The costs of such insurance may be related to the level of risk or damage to the company, such as false advertising, copyright infringement or defamation cases against us.

General liability insurance.

This general liability insurance encompasses the understanding of professional liability insurance and workers' compensation insurance. To better understand, it is intended to provide insurance coverage for us and our employees in the event of work-related accidents within our business premises. Since we are a company, corporation or firm, insuring ourselves within our work environment is part of the profitability of our business for legal purposes.

Professional liability insurance.

Professional liability insurance arises as legal coverage that a contractor has with its employees. This insurance also includes protection for employees against possible errors or omissions related to work performance. We must make it clear that each company establishes a limit as to the benefits of professional liability insurance, which is complied with as long as they are not exceeded in expenses to be covered. Not only for the workers but also for their employers this insurance should not be responsible for providing coverage for indemnities unrelated to content or justified work events; each worker should therefore know what their requirements and limits of inclusion are.

Workers' compensation insurance.

It is necessary for all companies with employees on the payroll to have workers' compensation insurance, as it is the way to cover their claims for illness caused by exposure to work according to our type of business. As an example to this, if you have had a special illness or condition that is made worse by the type of work you do, then you are entitled to workers' compensation insurance.

Another isolated case where access to insurance entitlement is granted may be when a co-worker incurs a negligent action that results in bodily injury. As expected any accident case to access workers' compensation insurance must be proven.

Interruption of service insurance.

This type of business income type insurance executes payment in the event of a company's loss of income if it is forced to stop operations due to unexpected events such as fire or fatal weather events. As such the insurance is covered in figures adjustable to the magnitude or scale of our business. For our business is a disaster the loss of information due to technical failures in the work equipment or when we are victims of theft of objects or important material in our company that forces us to stop the course of work, these types of damages are included in the interruption insurance. In general, in the event of requesting this type of insurance for damages to our co