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Private company decision makers need D&O insurance

By agent, bankrupt, Business Insurance, company, competitors, creditors, D&O, decisions, directors, frequency, governmental, independent, individuals, Insurance, lawsuit, liability, management, mergers, officers, partners, private, protect, severity, shareholders, small, sue, suit, suppliers, vendors
Owners of private companies without shareholders often believe they do not need directors and officers liability coverage. The misconception takes hold, I believe, because small, privately held companies often have no formal board of directors or shareholders – which seemingly limits exposure to lawsuits and dismisses the need for D&O liability coverage. While logical, this could not be further from the truth. The post Private company decision makers need D&O insurance appeared first on The Cincinnati Insurance Companies blog.
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Conducting effective vendor risk assessments

By agency, agent, annual, assessment, bankruptcy, bi-annual, breach, business, Business Insurance, complaint, compliance, Consumer Tips, customer, data, fines, global, identify, independent, Insurance, layoff, monitor, non-profit, organization, penalties, privacy, quarterly, risk, security, semi-annual, small, time, vendor, violation
Nearly all organizations need to work with vendors or third-party suppliers. Whether you’re a global organization, a non-profit institution, an agency or a small business, your organization has the potential to face severe fines and penalties for failing to understand and comply with applicable regulations. The post Conducting effective vendor risk assessments appeared first on The Cincinnati Insurance Companies blog.
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4 reasons small businesses decline EPLI coverage

By agent, business, Business Insurance, claim, claims, cost, cover, coverage, defense, dental, distributor, employment, EPLI, funds, independent, industries, Insurance, large, legal, liability, manage, managing, manufacturer, medical, practices, process, protect, publisher, restaurant, retail, risk, small
Many owners of smaller businesses make assumptions about Employment Practices Liability Insurance – and some of those assumptions are not true. EPLI coverage provides vital protection for a small business. EPLI provides a limit of insurance, separate from the standard commercial policy, to protect your business operations against many actual or alleged wrongful acts. Those could include personnel and staffing matters, hiring and firing or allegations of discrimination in the workplace. Because circumstances can vary widely, it’s important to assess your situation, consult with your attorney and speak to an The post 4 reasons small businesses decline EPLI coverage appeared…
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