Even the most ordinary routines can be shaken up by unexpected events, either natural or man-made. In order to keep operations going on through tough times, general liability insurance in NY, is a must-have precaution for responsible business owners, especially when tailored to their specific needs with the help of the GVA Agency.
Minimizing the consequences
Even if some events can’t be foreseen, their consequences can be lightened through general liability insurance in Rochester, New York. This type of broad commercial coverage keeps businesses out of bankruptcy, when circumstances spiral out of control.
For small business owners – particularly for practitioners dealing with large amounts of customer data, including lawyers, architects, accountants and engineers, as well as insurance companies and tech firms – there’s a fine line between general liability and professional liability insurance. As both types of coverage may be needed in some cases, it’s a good idea to discuss your specific needs with an expert insurance broker at the GVA agency.
General liability or professional liability?
Both are designed to protect businesses against lawsuits that could damage them beyond repair. These types of coverage help ease the financial burden caused by these legal imbroglios, minimizing the impacts of a specific claim. Some clients may require a certain amount of business or professional liability coverage before accepting a business as a vendor.
Differing by the types of risk that it covers, general liability insurance in Rochester, NY, offers protection against personal injuries or property damages caused by daily operations. In contrast, professional liability – also known Errors and Omissions (E&O) insurance – is generally focused more on financial losses rather than personal injuries or damaged assets, particularly when caused by negligence, poor judgement or carelessness related to professional, advisory or consulting services.
Both types of protection help a business survive the financial turmoil and media storms caused by these traumatic situations, particularly when related to data leaks.
Don’t forget the employees
However, with workers becoming more assertive, sexual harassment, wrongful termination and discrimination lawsuits are on the rise. As a result, farsighted employers are talking to trend-monitoring advisers (like the GVA Agency) about taking out employment practices liability policies as well as general liability insurance in Rochester, NY, in order to shield their cash flows from court awards that can reach devastatingly high amounts. In litigious times like these, responsible business owners naturally make sure that their home insurance in Danville, NY, is always up to date.
Talk to the professionals
If you’re still unsure what kind of coverage you need – business, professional, E&O or general liability insurance in Rochester, NY, contact the experts at the GVA Agency for inside advice on protecting your business against unforeseen calamities. Call us today at: 1 833 781 5556.