Protecting Business from Employee Bad Actions and Carelessness

At BPM Insurance, we offer fidelity bonds that  protect employers from employee theft by guaranteeing the employers money and property when an employee causes damage through careless or dishonest action. Typically, insurance companies and security firms are required to obtain a fidelity bond. However, any business that is concerned about their employees causing harm to their business should inquire about a fidelity bond.

The Fidelity Bond market does not fluctuate much, and there are no specialty markets or programs. Obtaining expert advice before purchasing this insurance would serve as valuable information on best direction to protect ones business from its employees.

An interesting side note: the name fidelity bond is misleading as it is not a bond at all, but rather a form of insurance. BPM Insurance offers fidelity bond insurance and can help you decide on best policy for your particular business environment.

Fidelity Bond Definition-

A fidelity bond is a form of protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.

While called bonds, these obligations to protect an employer from employee-dishonesty losses are really insurance policies. These insurance policies protect from losses of company monies, securities, and other property from employees who have a manifest intent to cause the company loss. There are also many other forms of crime-insurance policies (burglary, fire, general theft, computer theft, disappearance, fraud, forgery, etc.) to protect company assets.

Click here: GET A QUOTE FOR BUSINESS INSURANCE COVERAGE

 TOPEKA: 785-233-1717      KANSAS CITY: 913-402-9576

Licensed broker in states: KS-MO-OK-CO-TN-AR-IL-OH

Your Business Is Everything To You — Make Sure You Have Everything Covered

Business Auto Insurance

Work with a BPM Business Insurance expert, and you can get protection recommendations and side-by-side comparisons from  multiple top insurance carriers.

Call Today For Your Free Business Insurance Evaluation

Workers’ Compensation Insurance
Provides coverage for any injuries employees suffer while in the course of their work. Almost every state requires by law that employers carry some form of workers compensation insurance, which pays the injured employee’s medical bills, a portion of lost wages, vocational rehabilitation, and death benefits.

 Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.

To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state- including Kansas and Missouri, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they’re hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.

Workers compensation provides payments to injured workers, without regard to who was at fault in

Workers Compensation Insurance

 the accident, for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.

Each state, Kansas and Missouri, have different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.

Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don’t include coverage for workers’ injuries.
 
 Click here: GET A QUOTE FOR BUSINESS INSURANCE COVERAGE

 TOPEKA: 785-233-1717      KANSAS CITY: 913-402-9576

Licensed broker in states: KS-MO-OK-CO-TN-AR-IL-OH

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What is Business Liability / Commercial General Liability Insurance?

Commercial General Liability Insurance Protects Your Business From Common Liabilities.

Your Kansas or Missouri business faces liabilities every day. The only way to protect your assets is to carry adequate business liability insurance. A Commercial General Liability (CGL) insurance policy is the first line of defense against many common claims.

General Liability insurance covers claims of bodily injury or other physical injury or property damage. It is frequently offered in a package with Property insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business. Commercial General Liability enables your business to continue operations while it faces real or fraudulent claims of certain types of negligence or wrongdoing.

Commercial General Liability - The Most Basic Form of Business Insurance

If you have only one form of business insurance, it is most likely Commercial General Liability. CGL policies cover claims in four basic categories of business liability:

• Bodily Injury
• Property Damage
• Personal Injury (including slander or libel)
• Advertising Injury

In addition to covering the claims listed above, Commercial General Liability policies also cover the cost to defend or settle claims - even if the claims are fraudulent.

Business Liability insurance protects your business against financial loss resulting from claims of injury or damage caused to others by you or your employees. (Some coverages may not be available on all policies or in all states.)

• Automatic Additional Insured. Coverage is automatically provided when required in a written contract, agreement or permit.
• Personal and Advertising Injury. Covers you for certain offenses you or your employees commit in the course of your business, such as libel, slander, disparagement, or copyright infringement in your advertisements.
• Employment Practices Liability. Covers claims, including legal defense costs, for certain employment-related lawsuits brought against you by your employees or job applicants ($5,000 limit where available).
• Defense Costs. Pays legal expenses for certain liability claims brought against your business regardless of who’s at fault.
• Medical Expenses. Pays the applicable medical costs if someone is injured and needs medical treatment due to an accident on your premises.
• Premises and Operations Liability. Provides coverage for bodily injury and property damage sustained by others at your premises or as a result of your business’ operations.
• Tenant’s Liability. Protects your business against claims of damage due to fire or other covered losses caused by you to premises that you rent.

This summary outlines in general terms the coverages afforded under some policies. Examine your policy carefully for any exclusions, limitations, or any other terms or conditions that may specifically affect coverage. There is a BPM Business / Commercial insurance expert available to review your present policy and/or evaluate your business coverage and submit a free quote. The advice is free and could save you money in premiums and protect you with the right coverage.

Click here: GET A QUOTE FOR BUSINESS INSURANCE COVERAGE

 TOPEKA: 785-233-1717      KANSAS CITY: 913-402-9576

Licensed broker in states: KS-MO-OK-CO-TN-AR-IL-OH

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