Seattle Business Liability Insurance

Seattle business liability insurance will cover your company general liability risk. However, you most likely need additional policies, as well as the commercial policy, to protect you from employee lawsuits. You may also need to protect your professional liability, since Seattle business liability insurance does not protect you from claims made regarding professional mistakes.

Furthermore, Seattle business liability insurance only covers third-party claims. That means that if lawsuit occurs in the workplace among employees, your company won't be covered. You need an additional policy to protect you in case an employee tries to sue for harassment, wrongful termination or anything along those lines.

Employment Practices Liability Insurance

Employment practices Washington liability insurance, called EPLI, covers claims made by employees. You may trust your employees, and expect them to be nondiscriminatory, but you should probably still purchase this protection. Sometimes, disgruntled employees will bring meritless claims against business owners. Furthermore, you never know when unexpected trouble is going to arise.

EPLI usually covers claims related to discrimination, wrongful discharge, emotional distress, and harassment in the workplace. Sometimes, EPLI will also cover privacy-based claims and reputation (or defamation) claims. However, EPLI does not cover your Seattle company in the case of violations of Washington employment law, the Fair Labor Standards Act, the Employee Retirement Income Security Act and a number of others.

Generally, the best way to think about EPLI exclusions, is that the policy doesn't cover any violations of the law. However, it's important to know your specific EPLI exclusions, as policies can be different. Also, note that EPLI will not cover punitive damages, nor will it cover intentional institutional claims. Also, like commercial business liability insurance, EPLI doesn't cover for intentional wrongdoing.

However, here's where it gets a little confusing: EPLI does cover for intentional injuries done by employees without business knowledge. So, it doesn't cover for an actual wrongdoing of the company, but it does cover the company for wrongdoing by the employees. In some cases, EPLI may even cover your Seattle business in the case of embezzlement.

EPLI coverage is sometimes included in a package, but it may have different limits. For example, unlike general Seattle business liability insurance, settlement costs and legal fees are both (usually) a part of the policy limits in an EPLI package. In other words, while Seattle business liability insurance stresses the distinction between settlement costs and legal fees, EPLI policies don't, and they often prefer to settle.

Some EPLI policies include what is called a "hammer clause", which means that your Seattle business must agree when the insurer wants to settle a claim. In other words even if an employee makes a ridiculous claim against your Washington company, your insurer can make you settle. Some insurers may offer your Seattle business the opportunity to continue the case, but they won't cover the fees.

Remember, EPLI coverage for your Seattle, WA company should be considered a last resort. Creating a workplace where diverse employees are respected, and offering diversity training can help reduce this risk. You can ensure your company against employee risk, but it's much better to avoid those risks altogether.

Malpractice Coverage

Seattle business liability insurance isn't the same as professional liability insurance. Malpractice, or errors and omissions, can cover you or an employee in the case of a professional mistake. Most doctors and attorneys have malpractice coverage, and many other WA professionals have it as well.

If you or an employee makes a mistake, your Seattle business liability insurance won't protect you. However, errors and omissions will protect you. If you're offering advice, constructing houses, or anything of that sort, you most likely need some kind of malpractice coverage. People make mistakes, and you should insure against this risk.

A Seattle business liability insurance agent can help you understand whether or not you need malpractice or EPLI. Also, an agent can talk to about all the different details in each policy, what's excluded and included, and how they work. Unfortunately, Washington insurance is not a particularly straightforward affair.

However, it's absolutely possible to have a good insurance plan that covers your Seattle company's risk, without spending hours researching and wondering. If you have a trusted agent to assist you, he or she can examine your needs and compare them with different possible insurers, making your life a lot easier. There are many experienced agents and insurers specialize in your particular industry who can help you.

Actually, it's best to choose a Seattle business liability insurance agent who specializes in your field, if possible. Every industry has different requirements and insurance needs, and so it's best to choose an agent with knowledge of your specialty. Also, different insurers may have packages that are more appropriate for your specialty or field, and an experienced agent will know about them.

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