Wednesday, March 28, 2012

Every Business Owner Should Investigate Professional Liability Insurance

By: Edward L. Blais, JD, CIC

You may think that Professional Liability Insurance, also known as Errors and Omissions Insurance, is only for doctors and lawyers, but it is important to understand that this coverage is now available to many other businesses.

Your commercial general liability insurance is important to have, but does not cover for errors involving you rendering your expertise. Professional Liability Insurance protects you from client or customer claims involving this special kind of error. These claims can get costly and time-consuming regardless if a long litigation process leads to a settlement or not – and don’t forget the attorney fees.

You should consider looking into whether or not Professional Liability Insurance is available for your small business. It could save your business if it cannot afford the cost of the claim. Some businesses without this protection try to pass their financial burden down to future customers to make up the loss, but many businesses eventually close their doors.

 To keep from losing everything you’ve worked for, Blais Insurance suggests you investigate the availability of Professional Liability Insurance for your type of business. Every Professional Liability Insurance policy will differ according to your industry, location or type of product or service you provide.

Call us today to learn more about this important coverage for your business at 401-725-0070.

Wednesday, March 7, 2012

Don’t Lose Money When Your Power Goes Out

By: Edward L. Blais, JD, CIC

When Tropical Storm Irene hit, most of us were without power long enough for the food in our refrigerators to spoil. How much money do you think you threw out when tossing the spoiled food? There could have even been important value to items in your refrigerator, such as medications that need to remain refrigerated, or steaks you were saving for a family barbeque, that were destroyed. It could have been really costly for you if you stocked up for a few months on refrigerated products, perhaps in a freezer kept in your garage or basement.

After the destruction of a large storm, homeowners quickly learn what is and is not covered by their standard homeowners policy. Did you know that a standard homeowners policy does not cover food spoilage as a result of power failure from a source off the residence premises?

In order to be covered for unexpected food spoilage due to power interruption, you would need to add a Refrigerated Products Endorsement to your policy. For a small premium, only dollars per year, you can add insurance that will cover up to a pre-determined amount for items in your refrigerator or freezer. Typically, there is no deductible for this protection.

If you have ever had to throw an expensive amount of food out, you know how frustrating it can be. Before a winter storm hits and you loose power again, call Blais Insurance at 401-725-0070 to discuss a homeowners’ policy that provides this important coverage.