Tolono IL Business Insurance: Protecting Your Management

Tolono IL Business Insurance: Protecting Your Management  Tolono IL Business Insurance Protecting Your Management

Although they may not realize it, Tolono business owners are increasingly exposed to a number of loss and liability exposures through the course of their business endeavors. No matter what shape, size or specialty your business operation is, the chances are that you, your employees or your company will likely face a lawsuit throughout your normal course of operation. This is not only a result of America’s growing cultural interest in settling their disputes in court, but also a result of ever changing laws and regulations that impact business operations. Recent legislation and regulations have become increasingly more complex, and even companies that work hard to use best practices can find themselves accused of violations or burdened by lawsuits involving shareholders, employees, and others.

While general liability coverage is designed to protect an operation from some liability and law suit exposures, there are a number of common exclusions. However, there are also a number of ways Tolono business owners can protect themselves against the complications that accompany a lawsuit or legal dispute, including expanding their business insurance portfolio to include coverage for business management practices.

For example, the management functions of operating a business are common areas for business lawsuits to emerge. Directors and officers for instance have additional responsibilities and liability exposures that accompany their role and responsibilities as an institution’s leadership. Should these key individuals face allegations of misconduct or failure to perform their duties, an operation could be exposed to lengthy and costly legal disputes which could lead to investigations into business operations and other complications. As such, Directors and Officers (D&O) Insurance policies are designed to protect an operation from these expenses.

Furthermore, employers increasingly finding themselves faced with allegations and inquiries into their employment and staffing practices, especially as employment laws continue to evolve and change. These law suit exposures can happen any time during the employment process for new employee recruitment and hiring to employment termination, and everything in between. As such, Employment Practices Liability Insurance (EPLI) was designed to help business owners protect themselves against employment disputes and employee misconduct. Typically this coverage will protect businesses in the event of lawsuits alleging wrongful termination or discrimination, sexual harassment, disciplinary charges, failure to promote, and other types of workplace actions.

At Myers Insurance Group, we work with our clients to help protect them against losses associated with accusations of management or workplace wrongdoing. We offer the essentials in Management Liability insurance to the businesses we serve, including D&O coverage and EPLI coverage. Our business insurance specialist can help craft policies that meet the specific needs of you and your operation. To learn more about our operation and all of our Tolono Business Insurance solutions, give our experts a call today at (855) 534-5707.

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