Business Insurance Bulletin December 2011

Gaudette Insurance Agency
 
Business Insurance Bulletin       December 2011
 
Happy Holidays
As 2011 comes to a close we want to thank you, our clients, for the continued opportunity to serve and protect you and your business.  From all of us here at Gaudette, we wish you and your loved ones a happy and safe Holiday Season.
In This Issue
Who Needs Workers Comp?
25 Worst Passwords of 2011
EPLI Explained
Does My Business Need Workers Compensation?
workers compensation insuranceThe Massachusetts workers compensation system is in place to make sure that workers are protected by insurance if they are injured on the job or contract a work-related illness. 
 
The Commonwealth of Massachusetts requires you to purchase workers' compensation to cover on-the-job injuries or work-related illnesses. Sole Proprietors, Partnerships, and members of an LLC are not automatically included in coverage but can elect to purchase it for themselves. Corporate Officers are automatically included in coverage but do have the option to opt out.  Read more details about common employer workers comp questions.
Reduce Cyber Risk by Avoiding The 25 Worst Passwords of 2011
 

reduce cyber risk with cryptic passwordsCyber security is an ongoing process to deter hackers and protect against viruses and other risks to networked businesses. One of the ways to help lower business cyber risk, as well as personal, is to avoid using easy-to-crack passwords.

 

Having cryptic passwords may not necessarily deter sophisticated, determined hackers. But they do make it much more difficult for amateur cyber thieves to breach online accounts. Here is the list of the worst online passwords for 2011.

What is Employment Practices Liability Insurance (EPLI)?

 

EPLI covers businesses against claims by workers that their legal rights as employees of the company have been violated.

 

employment practices liability insuranceWhy does my business need EPLI?

The number of lawsuits filed by employees against their

employers has been rising. While most suits are filed against large corporations, no company is immune to such lawsuits. Recognizing that smaller companies now need this kind of protection, some insurers provide this coverage as an endorsement to their Business Owners Policy (BOP). An endorsement changes the terms and conditions of the policy. Other companies offer EPLI as a stand-alone coverage.

 

Read more about what EPLI covers & when you should get it.
 
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Facts & Stats
business insurance for disaster recovery
According to a 2010 survey by Travelers Insurance, 94 percent of small-business owners are confident their business is protected against insurable risks, despite only 56 percent having disaster-recovery insurance. Contact us if you want us to review your insurance program to make sure your business is fully protected against disasters.
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Gaudette Insurance Agency | One Plummers Corner | Whitinsville | MA | 01588