Tips to Protect Your Business from Liability

Thayer Innes

Tips to Protect Your Business from Liability

If you own a small business, you probably know that even a single lawsuit can mean having to close your doors. While this is true, there are steps you can take to prevent issues and liability, which are found here.

Purchase the Right Insurance

According to Thayer Innes, having the right insurance is the best way to protect your business from liability lawsuits. While each business’s insurance needs are unique, purchasing products, commercial property liability, and general liability coverage are recommended.

Maintain High Standards

Know your business practices down to the very last detail and work with your employees to create high standards for each step of your service or product. When you know how things should be done, you can begin enforcing these standards at every turn.

Test Your Guidelines

Once you establish your standards, you need to test people and processes to ensure they are living up to them. If not, you need to figure out what has gone wrong and what you can do to fix the issue. Failure to do this may result in a liability lawsuit down the road.

Protecting your business takes time and effort. However, when you use the right steps and put the right processes in place, you can reduce the likelihood of a liability lawsuit being filed against your business.


Professional Liability Insurance Programs for Real Estate Firms

Real Estate Firms: How to Fight the Disgruntled Client

Real Estate Firms: How to Fight the Disgruntled Client

Lawsuits happen. They particularly happen on the regular when it comes to the real estate industry. People have a lot of money tied up in the business, so it makes sense for suits to happen. This is exactly why a firm needs professional liability insurance for real estate firms.

What Is Real Estate Insurance?

As a real estate firm, you do everything that you can to please your client. Unfortunately, this isn’t always enough. There are always going to be clients who are unhappy with their service. Sometimes, this might be due to a miscalculation on your part and other times, it may be because the client was unable to receive what he or she wanted.

This is where professional liability insurance programs for real estate firms come into play. It’s important to have proper coverage to fight against claims.

Negligence and Errors

If your firm is facing losses due to errors, negligence or any other omissions in your services, then you should have insurance to back you up. These fees can end up too costly for most people to deal with. In this case, it’s better to have insurance to pay. Otherwise, your whole firm will suffer the loss.

When it comes to professional liability for real estate firms, it’s impossible to go without it. You can never predict when something might happen and if you’ll be prepared for it without insurance.