Does my Business Insurance cover a disgruntled employee?
Not usually, Employment Practices Liability would need to be purchased. This coverage would pay to defend and settle a lawsuit. Take a look at how you treat, hire or speak to your employees or what you allow your employees to be exposed to, such as sexual innuendos, dirty or ethnic jokes, swimsuit calendars or whether you pay men more than women.
Why do my insurance costs go up?
There are many situations that increase your cost: An insurance company merger may create a company which is only now a national or international company. This new company is now effected by floods, earthquakes, forest fires, hurricanes, tornadoes and terrorism. This means your insurance costs are eventually effected by these new experiences. Otherwise, an accident that you cause or a traffic violation may, but not always, increase your cost. In addition, the insurance company’s costs go up each year like anyone elses with inflation, labor rate increases and costs of building or repair materials.