Category Archives: cyber liability coverage

Why Your Accounting Business Could Benefit From Errors and Omissions Insurance

Accounting has long been a necessary trade, and owning and accounting business is one surefire way to turn a profit, particularly in the modern market. However, because of the high stakes which you and your employees often have to work with when it comes to balancing accounts, accidents can occur that put your business’s financial stability at risk. This is why having insurance for errors omissions in Manhattan is potentially one of the smartest things you can do for your business in the coming years. This service protects you from issues like:

Mistakes or oversights that result in substantial losses for clients or other oversights by your employees.
Failure to make a bid in certain situations in which serious gains could have been made for a client otherwise.
Failure to inform clients about important developments with their accounts that have the potential to impact them on a large basis.

These are all serious threats which any large or growing accounting company faces on a daily basis. Accidents in calculations can and do happen, so it’s best to protect yourself form the fallout with the help of errors omissions in Manhattan. Speaking with a professional is the best way to clear up any questions you may have about this service and to get started with getting your coverage right away.

Why Is PEO Insurance Necessary?

Industries spanning the globe need insurance coverage in case of an accident. The same holds true for professional employer organizations (PEOs). These organizations make sure businesses are protected through employee benefit designs, payroll management and tax filing, so why shouldn’t they be protected as well? The following are a couple reasons why PEO insurance is necessary.

Unforeseen Circumstances – There are unforeseen circumstances that happen all the time in business. PEOs are not exempt from these scenarios. If you run one of these organizations, you run the risk that something will fall through the cracks and one of the companies you manage will come after you for negligence. You can’t predict when these situations will happen, but you can be prepared for them.
Financial Stability – When an unforeseen circumstance does happen, it’s nice to know you are financially stable because of your insurance coverage. Instead of worrying that you will lose the company due to an unexpected claim and a judgment that needs to be paid, you can get your work done and know that the insurance will pick up if a mistake is unfortunately made.

PEOs are great for businesses that don’t like to manage those things themselves. As a PEO, you are saving a lot of business professionals the hassle of figuring something out that may not make sense to them. Save yourself a hassle in the meantime with PEO insurance.

Get The Most From Your Cyber Liability Coverage

You hope not to have to file a claim, but should you need to do so there are a few things that you need to keep in mind. Check out these tips to ensure that you get the most from your cyber liability coverage.

Know Your Policy

The first step in utilizing anything properly is to know how it works. The same is true with insurance. Take some time to read through your policy to make sure that you understand what and who is covered under each benefit. Since providers may make changes to your policy at times, it is a good practice to review your policy at least twice a year.

Gather Needed Materials

In order to file a claim there are certain procedures that you must adhere to. Each provider is different, so be sure that you understand the proper filing method for your policy. If handled incorrectly, it could slow down the progress of your case or result in denial of your claim.

Consult With Your Agent

If you have any questions, do not hesitate to contact your agent. Helping you with your policy is the agent’s job, and it is in your best interest to utilize all available resources.

By heeding these tips you can be sure to get the most out of your cyber liability coverage. For more helpful information, contact your local provider.