Don't leave your company vulnerable to these common types of liability threats.
As a business owner, you are aware of how much risk your company faces on a daily basis. Unfortunately, many of these risks are caused by liability issues. Luckily, securing the right
commercial insurance in Los Angeles, California can help you safeguard your business and all its assets. But what issues should your business be on the lookout for? Here are some of the common liability risks that small businesses cannot afford to overlook.
Employment Practices Liability
Employment practices liability issues are those that arise from the unfair or illicit treatment of your employees during the course of normal business operations or the hiring process. These types of claims are filed by prospective, current, or former employees, and common problems that fall under this category include the following:
- discrimination
- sexual harassment
- retaliation
- breach of employment contract
- payroll issues
- wrongful termination
Cyber Liability
Cyber liability is when your company is the victim of a data breach that compromises the private information of your customers. In this event, your business would be held liable for not having strict enough security procedures and safeguards in place. You would be responsible for informing your customers about the data breach, recovering lost data, repairing affected computer systems, and so on.
Professional Liability
Professional liability issues arise when your company makes a mistake in its professional services that results in losses to the client. For instance, imagine that you are an esthetician. You give a client a facial treatment without first asking about their current skin condition. The facial ends up being too harsh, causing your client to feel pain and endure unattractive skin burns. In this instance, your client could sue for negligence, and this issue would fall under the category of professional liability.
These are just a few of the most common liability issues that small businesses need to watch out for. Luckily, having the right
commercial insurance in Los Angeles, California can protect you from the financial losses associated with these claims. For help securing the right liability policies for your company, contact the experts at Fuller Insurance Agency to get started today.
