Lawyers Need Austin Professional Liability Insurance

Perhaps you have spent a number of years practicing law for a living. You may have never had a client that was unsatisfied with the service you provided, but that’s not often the case. Most attorneys will tell you that malpractice claims are as varied as the charges that plaintiffs bring against them.


After all, if they receive what they feel is an unfair judgment, who’s most likely to bear the brunt of their dissatisfaction? Claims of all types are brought against lawyers, including simple mistakes, administrative errors or substantive errors of law. One thing is for certain; they can all benefit from having Austin Professional Liability Insurance coverage for lawyers.


Types of risks typically covered under professional liability insurance


Professional liability (PL), or a legal malpractice policy, is designed to provide coverage for claims that arise from “wrongful acts” committed in the rendering of legal services.

Whether you end up in court amidst claims alleging that you improperly handled, or worse, abandoned one of your clients, insurance will aid you in defense of such claims.


Your client may decide that you failed to address their needs in some way and the result was a lower judgment or a judgment against. Without a professional liability policy, you may find it financially difficult to defend yourself in court. There has also been a rise in suits in which the sole allegation is one of breach of fiduciary duty, often because of a client’s claim of a conflict of interest.


In general, acts covered by a PL policy usually include those committed in a variety of ancillary services regularly provided by lawyers, including services as a title agent and or title agency, or as a notary public, as well as when acting as a trustee or executor of an estate in connection with representation of a client, or acting as an officer, director, or member of a legal professional association.


An Austin Professional Liability Insurance policy is designed to assume the responsibility for responding to and defending against a claim. The policy is also designed to cover lawyers and employees of the law firm acting on behalf of the firm, and the firm itself as specified in the policy. Speak to your agent about any questions or concerns that you may have.

Surety Bonds in New Jersey for Performance and Payment

Surety bonds in New Jersey for performance and payment are crucial in the construction industry because, without them, contractors would likely be unable to secure projects. As many experienced contractors understand, the ability to bid on a public construction project is often decided upon based on the benefits it offers. They also realize that, for larger projects, whether on the municipal, state, or federal government level, the greater the odds are that there will be imposed a substantial performance and payment bond requirement.

Securing bonds gives contractors and construction managers a leg up on the competition. Bonds are in place to guarantee work, as well as any payments due to individual parties who perform services in the execution of these projects. Performance bonds are guarantees by a bonding company that jobs will be completed per the specifications of the contract.

How crucial are bonds for performance and payment?

A payment bond ensures that subcontractors and material suppliers are paid according to contract and these bonds are typically used in conjunction with performance bonds, usually on the same bond form. Even though they are frequently underwritten together, they represent two separate bonds. Like all surety bonds, they are issued by a company that backs the agreement between the contractor and the owner of the project relating to a particular job being done on the property owner’s site.

Contractors need to purchase these bonds whenever they are negotiating a construction contract, understanding that this is different from insurance, as the bonding company will not merely write a check if the intended party is unable to complete the required work. If a contractor or subcontractor is unable to complete a job then the bonding company may put the job out to bid with another selected contractor.

The cost of surety bonds in new jersey can often depend on a number of factors, including the size of the job at hand and its contractual terms, the amount of bonding coverage required, the principal contractor’s work record, the principal contractor’s credit score, and even the principal contractor’s other financial credentials. By providing your clients with surety bonds for performance and payment they will feel satisfied that their project is in good hands.

You Should Contact a Life Insurance Company in Connecticut

While many people prefer not to think about it, purchasing life insurance at some point is necessary. For those raising a family, it’s a guarantee that funds will be there when your loved ones need it the most. It not only provides money for final arrangements, it also helps them get a jumpstart on a future that you will no longer be a part of. Having coverage also relieves your parents and siblings from any added burden if you’re single and have no one that is dependent on you.


This is certainly not the most pleasant thing to think about, but you should really consider planning for your family’s future now in order to help protect them and keep them financially secure. The best way to start is to look into the available options for life insurance coverage and this information is easily obtained through a life insurance company in Connecticut.


An added layer of financial protection


Perhaps you have a high paying job and have managed to save quite a lot of money. But if that income stream was suddenly halted that money wouldn’t likely last as long as one might think. Consider what might happen if you were to die tomorrow? How would your family be impacted financially? How will they afford to continue paying for the home you’ve worked so hard to provide for them?


Will your family have the money necessary to manage the costs of daily living as well as cover any final expenses? Without insurance, there’s a real possibility you could be leaving your family in serious debt or suffering increased financial risk.


The main purpose of your policy is to help your loved ones replace some of the income they’ve come to depend on to keep their lives moving forward uninterrupted. At its core, your life insurance coverage will in all likelihood help to keep your final expenses from being a burden on those you leave behind.


The protection you’re seeking is just a phone call away, or you can visit a website that specializes in coverage from a life insurance company in Connecticut because one of the greatest gifts you can give to those you love is financial security.


Lowering Costs Through Workers Compensation Brokers

Believe it or not, the cost of workers’ compensation insurance has always been within your clients’ control. By having them take some time to understand just how the system works, how premiums are calculated, and what options are available, you’ll be able to help them to keep their payments at a reasonable cost. Simply by implementing a company-wide safety program that reduces the number of workers’ comp claims they have they’ll be able to reduce costs with lower premiums. Most workers compensation brokers will agree that this is a fact.

Regardless of the industry they work in, they need to make sure that their employees have and utilize appropriate safety equipment wherever needed. Staging regular inspections of their facilities for safety hazards and looking for other ways to stop accidents before they happen will also pay dividends. For instance, just training employees in the correct way to lift heavy objects is a worthwhile example, since back injuries are common to workers’ comp claims. In an office scenario, learning the right way to work on computers will help to reduce claims for repetitive stress injuries.

Check that workers’ classification is correct

Check to make sure that the company and employees are properly classified, since misclassification is one of the most common reasons for overpaying on workers’ compensation insurance. Non-hazardous jobs have much lower rates than hazardous ones, so by misclassifying even one worker into a higher hazard level job, the total premium may increase significantly.

Workers’ comp premiums are generally based on regular payroll figures, excluding overtime. Some states allow deductions of overtime pay to straight time for the purpose of figuring payroll, but you should have your client check with the state office of employment to see if those guidelines are correct.

Remember, the quicker an injured worker returns to work, the lower the disability claims costs may be. Modify the injured worker’s assignment upon return (or put him or her on light duty), but that’s really a small price to pay for helping an employee returning to work.

As a workers compensation broker you should discuss with clients available plans that use managed medical care to treat injured workers. Most states allow HMOs, PPOs and other managed-care providers to handle workers’ comp claims.

Operations That Require Oil and Gas Insurance in New Mexico

The oil and gas industry plays host to a lot of companies all involved in the manufacturing, supplying and containment of these valuable resources. Pressure pumping trucks, big rigs, vacuum trucks, and hot shot vehicles all play a significant role in the oil and gas refinement process. This can be very dangerous work and injuries and deaths are not uncommon for the men and women whose purpose is to ensure that proper procedures are carried out. The owners of these various companies understand this to be true and take the necessary precautions. Still, when things do go wrong, workers compensation coverage from oil and gas insurance in New Mexico provides help in aiding anyone involved in an accident.


The purpose behind vehicles used in these operations


Different oil field truckers provide different services. The hotshot term, believed to have originated in the Texas oilfields decades ago, described trucks used to deliver needed parts to off road drilling and pumping operations. The niche continues to play a part in the industry to this day and has benefited from the growth in US fracking operations. One of the main jobs of these dedicated individuals is to transport power company equipment to keep the electrical grid running, which is needed as soon as possible to avoid a shutdown.


Well-equipped and versatile vacuum trucks are critical to all oil and gas operations. Vacuum trucks are tank trucks that feature a heavy-duty vacuum system designed to use vacuum technology to load liquids, sludge or slurry through suction lines. These pumps are also used to unload tanker trucks using pressure. Many different types of vacuum pumps are available, and the type chosen depends on the geographic location and the application’s specifications.


Working long days and nights can be exhausting and these fields are often slippery from the oil. Add to this all the heavy machinery in play and you have conditions that can lead to everything from minor, to very severe injuries. Medical staff should be present at all times since an injured worker might require immediate attention, or may even need to be airlifted to a nearby hospital. Despite safety precautions, this is strenuous and very dangerous work. Having oil and gas insurance in new mexico is vital to the success of these companies that help keep America running.


Liability Concerns and Financial Institution Insurance

Financial Institution Insurance was created in order to provide protection for financial professionals against customers’ claims of wrongdoing or mishandling of their funds. Bankers professional liability insurance, a type of errors and omissions insurance, protects those working in the banking industry, along with the institutions they work for, from any expenses associated with having to defend themselves in a court of law or from having to pay a judgment if a plaintiff wins.

A bank could be sued for any number of reasons, including claims stemming from a breach of duty, misleading statements, incorrect statements or other mistakes related to its deposit, brokerage, insurance, real estate, credit card or other services provided. For example, a customer will often determine that they have a right to sue a bank for honoring a fraudulent check or fraudulent wire transfer that resulted in funds being erroneously removed from their account.

The valuable protection of bankers’ professional liability (BPL) insurance

Community banks may find that they face allegations of negligently representing the quality of its investments, or claims of offering poor financial advice, especially during periods of economic slowdowns. These claims aren’t normally quickly settled, can often result in a prolonged process, and become quite costly and time-consuming to defend.

A BPL liability policy can provide coverage against claims arising from allegations of wrongful acts, as well as errors or omissions in the performance of professional services by the community bank or anyone in its employ. This coverage is often expanded to include lender liability, trust services or vicarious liability for services that a community bank may provide through a third party.

What isn’t covered by this policy

Bankers professional liability insurance does not cover fraudulent or dishonest behavior, deliberate violations of laws or other criminal acts. It also does not cover claims that are pending at the time the policy is taken out, nor does it cover libel, slander, defamation or invasion of privacy.

Bankers can purchase professional liability policies as part of their Financial Institution Insurance coverage that is tailored to assist with the unique risks they face. An investment banker would want to have coverage for underwriting, syndicating, securitizing and market-making activities, as where a lender would want coverage for its activities related to granting, committing to, restructuring or terminating loans and lines of credit. Speak to an agent familiar with these business lines of insurance to determine the right policy for your needs.