Liability Archives - Gannon Associates

Errors and Omissions Insurance: Do You Need It?
Errors and Omissions Insurance: Do You Need It?

Errors and Omissions Insurance: Do You Need It?

Mistakes happen to everyone, even professionals. Whether you are a real estate agent and you forgot to include important details about a home to a buyer or a tax preparer who made a bad calculation… it can happen. However, if a mistake you or your business made causes a client to experience financial loss you could have a lawsuit on your hands. So how do you protect your business? Errors and Omissions Insurance. Errors and omissions insurance, also commonly referred to as E&O, is professional liability insurance that helps protect you from lawsuits [...]

Kali Jo Grove2022-06-01T18:47:39+00:00June 19th, 2022|

Who Needs EPLI?
Who Needs EPLI?

Who Needs EPLI?

We’ve all heard horror stories. An employee was let go and then turned around and sued the company claiming wrongful termination. An employee sues their company on the grounds of discrimination or harassment. We have repeatedly heard this in the news and from our business contacts or friends and think that could never happen to us. WRONG! Employment practices claims can happen to organizations of every size, industry, and at any level. They can disrupt businesses, damage reputations, hurt employee morale, and hit a company hard financially… all before they ever see a [...]

Kali Jo Grove2022-03-04T15:31:21+00:00March 27th, 2022|

Who Needs Public Liability Insurance?
Who Needs Public Liability Insurance?

Who Needs Public Liability Insurance?

Does your business need public liability insurance to cover any future lawsuits and the settlement or compensation costs that come with them? While this coverage is not required unlike employers’ liability insurance, which includes workers' compensation, it is safe to say every business needs public liability protection to some extent.How much public liability coverage you need depends on what kind of business you are in and your own unique risks. For example, a landscaper or brewery could have greater risks than a walk-in retail store or professional business (realtor, insurance agency, or attorney [...]

Kali Jo Grove2021-11-18T15:29:18+00:00November 18th, 2021|

Municipalities… Insurance For Your Unique Needs
Municipalities… Insurance For Your Unique Needs

Municipalities… Insurance For Your Unique Needs

Municipalities face a lot of risks. From a child getting hurt on a community playground to a town official being sued as the result of their decision-making, many things can go wrong when you are running local government. How can you protect yourself, your staff, and your municipality? The right insurance coverage can help you manage the risks. Every county, parish, town, township, city, and village are unique and require insurance solutions tailored to their distinct needs. Let’s take a look at some of the coverage options you should consider. [...]

Kali Jo Grove2021-11-18T17:54:17+00:00November 18th, 2021|

The Who, What, and Why of Professional Liability Insurance
The Who, What, and Why of Professional Liability Insurance

The Who, What, and Why of Professional Liability Insurance

For those working in industries where they advise others, the risk of making a mistake can be fatal to your business. Your advice can impact another person’s livelihood and, if you make a mistake or your client perceives that you made one, it could be costly. The risk of being sued based on how others feel your advice impacted them is great. This is where professional liability insurance comes in. Professional Liability Insurance, also sometimes referred to as Errors and Omissions (E&O Insurance), is protection for your business from claims of negligence that [...]

Kali Jo Grove2021-07-29T19:20:30+00:00August 15th, 2021|

Importance of Directors and Officers Liability Insurance
Importance of Directors and Officers Liability Insurance

Importance of Directors and Officers Liability Insurance

As a director or officer of an organization, you make many important decisions regarding everything from policy choices to financial aspects. These decisions help your company to succeed, but they can also leave you and your organization open to lawsuits. Lawsuits that can be costly to you personally but also to your organization. Directors and offices can be sued for a variety of reasons related to their roles, including: Breach of fiduciary duty, resulting in financial loss or bankruptcy Misrepresentation of company assets Misuse of company funds Fraud Failure to comply with workplace [...]

Kali Jo Grove2021-07-29T17:29:16+00:00August 8th, 2021|

Special Event Insurance
Special Event Insurance

Special Event Insurance

From marketing events to holiday parties, most businesses host events throughout the year. They can be a great way to connect with your staff and your community. A ton of planning goes into these events and you probably spend weeks on end making sure that every detail is perfect. You spend the entire day before setting up and getting everything ready and then comes the day of the event. What if something goes wrong? What if someone gets hurts and sues your business or external factors force you to cancel at the last [...]

Kali Jo Grove2021-07-27T16:57:13+00:00May 11th, 2020|

Commercial Liability Umbrella 101
Commercial Liability Umbrella 101

Commercial Liability Umbrella 101

A commercial liability umbrella policy is designed to provide an extra layer of protection by covering costs that exceed your existing liability coverage limits. It complements your existing liability coverages by taking over when your other liability coverage limits have been reached. Commercial liability umbrella policies serve 2 main purposes: To increase the liability limit that your company already has an existing, or underlying, liability policy. To broaden coverage for things that your underlying policies may not cover. Commercial umbrella insurance can only supplement coverage for certain underlying policies. These include general liability [...]

Kali Jo Grove2021-07-27T18:26:23+00:00June 10th, 2019|

Cyber Insurance: Expectations vs. Reality
Cyber Insurance: Expectations vs. Reality

Cyber Insurance: Expectations vs. Reality

In today’s ever-changing world it is becoming easier to fall victim to a cyber-attack on your business. According to a study conducted by the Online Trust Alliance (OTA), there were an estimated 160,000 cyber attacks in 2017. This is nearly double the amount from the prior year and is expected to grow in the coming years. The average cost of each data breach in 2017 was $3.62 million which is 10 percent more than prior years. What can a business do to prepare and protect themselves from cyber-attacks? Cyber liability insurance can [...]

JohnAdmin20182018-12-12T08:59:13+00:00December 1st, 2018|

What does Cyber Liability Insurance Cover?
What does Cyber Liability Insurance Cover?

What does Cyber Liability Insurance Cover?

Most businesses today use technology both in the workplace and with consumers. Technology is used to do everything from general business, store private information, maintain communication, and much more. With the use of technology increasing every day, it is vital to protect your company when it comes to cyber threats. According to USA TODAY, 60% of small business go out of businesses within 6 months of a cyber attack and the cost of an attack can range from $84,000 to $148,000. They also note that almost two-thirds of all attacks are aimed [...]

JohnAdmin20182018-12-10T15:04:58+00:00July 24th, 2018|