Straight From The Source Blog by Higginbotham Insurance

The road is a dangerous place. And if driving is an essential part of your business, you have special risks that many other businesses don’t. Your whole operation can be at the mercy of poor road conditions, heavy traffic, foul weather and crazy drivers. When you add uninsured drivers, vandalism and a litigious culture into the mix, the risks and potential costs only escalate.

Rebuilding after a catastrophe is always an expensive endeavor. Exactly how expensive, however, depends on current building costs, and that depends on a number of other factors. Although you might not think about construction costs often, if your home or business is destroyed in a natural disaster, the issue could become very relevant.

“Everything’s bigger in Texas,” and that certainly applies to flooding. Texas has some of the largest storms in the world, and flooding occurs regularly, with severe and destructive floods occurring somewhere in the state every year.

Your company doesn’t have to own a vehicle to be held legally and financially responsible for any accidents it’s involved in. If your employees are using a car that they own or that is rented, and they cause property damage or injuries, your company could be sued. This is why you need non-owned and hired auto insurance.

Does sexual harassment occur in your company? Don’t dismiss the idea too quickly. According to the 2018 Hiscox Workplace Harassment Study, one in three workers has experienced harassment. And because harassment often goes unreported – 40 percent of respondents said they hadn’t reported the harassment to either the company or the police – managers may be unaware of just how widespread the problem really is.

You’ve been asked to serve on the board of a nonprofit. You’re happy to contribute to an organization that serves such a great purpose, but you’re also worried. If anything goes wrong, will you be protected? It’s not the sort of concern you want to dismiss. If you’re serving on a nonprofit board, take time to understand the risks involved.

Jack is a busy contractor with a thriving business. One night there was a major fire at his office/warehouse, and some essential equipment was destroyed. Like most contractors, Jack had property insurance as part of his construction insurance package. He ordered replacement equipment right away, only to discover that the equipment was backordered. Without this crucial equipment, he couldn't complete his pending projects. Needless to say, this scenario created a major crunch in cash flow.

Hosting events such as concerts, festivals, conferences, trade shows, sporting events and celebrations subjects a business to a variety of liabilities and risks that must be considered to avoid costly litigation or other losses when something goes amiss. Appropriate coverage for events include property insurance, general liability insurance, employer’s liability insurance and cancellation insurance.

Lawsuits can come from many sources, including customers, competitors, vendors and partners. But in many cases, when a company faces litigation, the lawsuit is related to employment practices. To protect your business against these lawsuits, it’s important to understand why they occur.