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Your company may already offer safety training in-person and perhaps you think that is the only viable method of delivery, especially if your manufacturing plant had citations or violations from the Occupational Safety & Health Administration (OSHA) in the past. You also might own a startup and believe that your only option to fulfill OSHA requirements is in-person training, but you can use online safety training to provide better training for your employees. Well-trained employees experience fewer accidents. Fewer accidents at your business mean fewer workers’ compensation claims.
That tops the list of the many benefits of online safety training which includes savings of time and money, as well as improved education and retention. These benefits have led more than 40 percent of Fortune 500 companies to implement online training. Using e-learning combines multiple forms of media to educate and inform by presenting the information in every manner – audio, video, written text, graphics. This method ensures that, regardless of how an individual best learns information, it gets presented to them in a manner they can understand and digest. It presents information in small, manageable modules that follow a logical order and provides knowledge checks such as quizzes and tests.
The inherent design of e-learning provides the first benefit of online safety training – its flexibility for the learner. Unlike in-person, face-to-face training, an online program lets the user replay the course material as many times as needed. They work at their own pace, individually. The opposite is true of person-to-person physical training in which the teacher presents the material in a one-and-done fashion. With online safety courses, the student can save their progress at their convenience. They can review materials before taking a quiz or test. A 2010 US Department of Education report revealed that adults learn best through online training, but low-achieving students also known as slow learners did better with traditional classroom delivery. Since you probably do not employ the latter, using online safety training could improve the retention of your adult workforce.
When travel isn’t possible, yet you need trained employees, online safety training provides the solution. You can provide training to those in multiple time zones and varied locations from the cloud. Since the course material remains available 24 hours per day, seven days per week, employees can complete the course when they have time. As long as they have an Internet-capable device and the Internet, they can complete their training. This alleviates your need to block off time during the workday for training, so your productivity does not fall behind.
OSHA frequently updates its safety regulations, creating a challenge for safety instructors who conduct in-person training. You can easily update an online training to include the latest revisions to safety training materials. Since you have access to your training materials, you can make the updates the very day OSHA issues the revision to the safety regulation if needed.
The online safety training curriculum provides standardized information. With individual instructors presenting information in varied locations, your safety training program lacks standardization. With online training, information gets written or recorded once and each student plays back the same information, presented in the exact same manner. You organize all courses in a learning management system (LMS) to provide easy access and to encourage employees to complete additional training in a voluntary manner.
Global organizations or businesses with employees who speak a variety of languages natively can improve their employees’ learning by offering online safety courses in their native language. While it would create a complex hiring situation to contract with certified trainers in every needed language, you can easily translate the materials on an online safety course and have the materials recorded in various languages. Your employees choose which language works best for them and complete the training in it.
Humans learn better online because humans learn better in interactive situations. When the learner can touch a tool to practice with it or use a virtual model of the tool, they learn better. The typical learner retains as little as 10 percent when attending a lecture or reading, but providing an interactive e-learning module can bump that retention up to more than 70 percent.
Speaking of productivity, according to IBM, you could boost productivity by up to 50 percent with online training. To put it into dollars, so it makes sense, when your company spends $1 on online training, it can return to you in up to $30 of productivity gains. Since fast learners can complete online courses quickly, they enhance their productivity faster. Since the learning is all self-paced, the slower learners do not bog them down and they do not frustrate the slower learners by wanting to go through the material quicker, which could erode the slower learners’ ability to uptake the information.
You save both directly and indirectly. You save directly because online training costs much less than classroom training. You alleviate the costs of classroom rental, employee travel, hiring trainers, car rental, and hotel rooms. You save indirectly because improved employee retention results in fewer accidents, which cuts the costs of workplace injuries and illnesses. Your company remains in compliance, so it avoids fines. You experience fewer equipment problems since your employees know what to do and how to do it safely. But using online safety training also results in other savings, including reduced time and money to develop safety training materials, reduced cost of maintaining safety training records and completing reporting requirements, and reducing the time required to train a new employee.
Using interactive, cloud-based safety training lets your employees learn in an enjoyable way. You make learning fun by providing them with dynamic multimedia content that they can playback as many times as needed when they need it. They use interactive quizzes and tests to ensure they understand and retain knowledge. You can let them use virtual tools, so they get used to the interfaces or mechanical items they will use in real-life situations. The age-old example of this as far as computers are concerned are the flight simulators first used by the US Air Force and private airlines to provide pilot training. You can virtualize any interface or tool to provide hands-on training without the exorbitant cost of needing to purchase 50 of any item specifically for training use. Plus, when you create the virtual version of a drill or cockpit or manufacturing line, you allow the employee to access it on an as-needed basis. They can practice using it properly, as often as needed, without impacting other workers or requiring the trainer or any supervisory personnel to be present. Since it only provides a simulation with no person involved, they cannot hurt themselves or others. You not only make learning fun; you make it safer.
You have many reasons to implement an LMS today with training that can help you meet and comply with OSHA regulations. Moreover, your move to using online safety training can improve every facet of your business. Contact us to help you learn more ways you can protect your business from costly workers’ compensation claims. The best way to prevent claims is to make sure accidents don’t happen.
Every team needs the right software tools to do their jobs well. Today, were here to talk about what it takes to share a password securely in the all-too-often circumstances where this is necessary in the business world – with coworkers, clients, and business partners.
In an ideal world, passwords would be easy, secure, and known only to one person. In reality, we have to share passwords all the time. Sharing accounts is a normal part of both personal and business life in the modern world. At home, you choose an easy family password for movies, music, and shopping accounts so the whole family can share. At work, you may use a team login to access shared projects. Even when working with a new business partner, you may need to share passwords so that both parties can access and edit certain digital assets. This is especially true for website development and management.
Website design tends to assume one root account, one admin with all the powers so that all other admin accounts are managed below the root. Of course, the website owner and the person best qualified to be your website root account holder are often two different people. In order to develop a website, share control, or have your website managed by a hired pro, you will need to share a password – maybe more than one.
The challenge is in the sharing. How can you securely send a password over the internet without the risk of it being seen and read by anyone skimming the in-transit data? How can you send a password without the risk of it being read by someone else holding the recipient’s phone or sitting at their desk? The security risks today are everywhere, both in the digital and real world. As someone responsible for safekeeping an important password, what can you do? The complex answer is encryption. One interesting and very useful tool we’ve found is a website called SafeNote, a tool designed to send encrypted messages.
We’ll explain how SafeNote works and why it’s a handy go-to way to securely share a password along with other sensitive information that should be transmitted digitally with great care.
SafeNote has exactly three features that make it the perfect password sharing solution. It is not specifically made for passwords, but rather, for secure message sending of any sort. This also makes SafeNote ideal if you need to send medical information, personal identification, bank account numbers, and anything else you can’t afford to fall into the hands of hackers. Here are the three features that make up SafeNote:
Let’s break that down piece by piece.
First, let’s talk about encryption. As you may already know, encryption is the act of encoding a message so that it has to be deciphered using a complex process before the message can be opened and read. The simplest form of encryption is letter-translocation. For example A=Z, B=Y, C=X, and so on. The most classic type of encryption uses a book, and only someone holding the same book can find cypher to un-encode the message.
Today’s encryption software uses randomly generated cyphers that cannot be duplicated or even stolen by hackers. A new cypher is used every time, and only someone on the other end of an encrypted message with the decrypt cypher will be able to read the message. To anyone else, all they see is hashed gibberish.
For hackers, this means that your sent password can’t be read when it travels through the internet to your business partner. Some hackers specialize in ‘skimming’ messages from wifi, from cable connections, and even from hacked devices and local networks. They read the raw data packets as they pass, stealing data as it travels. Encrypted data can’t be stolen in-transit and if a hacker steals a whole encrypted server, all they get is a server’s data worth of complete gibberish.
In other words, encryption is our favorite way to thwart hackers and it works superbly here with password sharing. Your password, along with any other secure messages, will not be stored in plain text or even salted hash. It will be stored encrypted until the moment your recipient opens the message.
The next feature is link-sharing. When you enter a message into SafeNote for delivery, SafeNote will give you a unique URL that you can share. Conveniently, your message also disappears from the screen so anyone who enters your office after you submit the message won’t see the password displayed in plain text.
You can then safely share the URL, which reveals nothing about the message, with the person who needs your shared password. This creates a very safe way to transmit information because even if you email the link and that person’s email is skimmed, hacked, or snooped, no one will see anything they shouldn’t. And your password isn’t stored in email history, just the nonsense URL link.
Lastly, SafeNote destroys your message the first time it is read. Yes, the first time. As soon as your recipient opens that link once, it initiates the self-destruct sequence. They have until the browser tab is closed to view your message or retrieve your password. After that, the link goes to an expired-link page on the SafeNote site. No message, and no repeat visits.
Why is this important? The self-destruct feature keeps you safe in the long-run so that your password is not floating around in a server somewhere waiting to be stolen. Not only that, but anyone who gets ahold of the link from an email or even a shared personal device won’t be able to access your password. The message shows itself once and only once.
Using Safe-Note is incredibly easy. Start by heading to the SafeNote homepage. You’ll see a place to enter your message and a large handy button that says “Create Message”. Enter your password and click the button. From here, SafeNote encrypts the message and generates your one-time URL. You send that URL in an email or chat message to the recipient, who opens the link once to receive your password exactly once.
You can test SafeNote as many times as you want to see how it works for yourself. Go ahead and make a testing message and then try to visit the link twice. When you’re confident, generate your password message and send the link to your business partner. It’s as simple as that.
Building strong IT policies is also about choosing the right tools and equipping your team with a safe way to do things that are traditionally risky. SafeNote is just one of many potential tools you can use. Most effectively, it is approachable for one-time use without needing to install a program or create an account which clients often appreciate. For more useful IT techniques and the tools that make them work securely, contact us today!
In the contemporary world, everyone is looking for ways to utilize technology to succeed in their various fields of expertise. Businesses desire to go digital and exploit technological advancements to automate their operations. In the next three years, you can expect more than thirty-four percent of workers to have automated their jobs. All this is made possible through software.
Because of the increasing demand for Information Technology, the Software-as-a-Service (SaaS) industry is growing significantly. For instance, in the United States, the Information Technology sector has a thirty-three percent market share. Everyone who understands the potential in the software industry is investing their time and money to outperform their competitors. Here are tips to help you establish a successful software company:
The most significant aspect of a software company is the quality of products they develop. A high-quality product means the product should be efficient and free of bugs. High-quality products guarantee a compelling user experience; hence, you will attract new customers and easily retain the current ones.
A user can determine the quality of a product in its initial usage stages. A poorly done job in the development of software can’t go unnoticed for a long time. Low-quality products ruin the company’s reputation and keep away potential customers. Therefore, if you are to thrive in the software industry, developing high-quality products is not an option.
In software development, simplicity is a crucial factor to consider. Ensure the products you develop are user-friendly. If your product is not convenient, most users will avoid it. It doesn’t matter how great your innovation is or how many solutions it offers to customers. Everyone wants to have a seamless experience at work.
You ought to clearly understand your target audience. This means knowing where, when, and how the users will be using your product. Ensure the software is convenient and compatible with their working environment. In addition, the software should easily blend with the other tools your clients are using. That way, you will attract more users.
Any software company will always endeavor to keep a friendly relationship with its clients. A cordial relationship shows appreciation and respect for your customers. It also motivates the clients to return to your company over and over.
If you maintain a cordial relationship with your clients, they will most probably spread nice words about your company. Consequently, your company will appear courteous and professional, which is an excellent reputation for any business. The clients may also refer their friends, family, and colleagues to your company.
Being a software company in an era where technology is constantly shifting implies that you should stay alert and adapt to the changes. If you only stick to the old technology, soon you will be out of business. For example, in the current trends, most people are shifting to Artificial Intelligence. Therefore, you should already be developing software that supports AI.
Come up with new ways of solving problems using the latest technology and be prepared for future challenges. To remain competitive in software development, you’ll have to hasten your pace in innovation. As a result, you will be among the first companies to offer new quality products to your clients. Lastly, don’t forget to train your employees on technological advancements.
As a software company, ensure you are flexible enough to handle different types of jobs. Since the software development business is highly competitive, you must maximize any advantage over your competitors. The company’s ability to tackle various kinds of jobs will ensure you don’t face work shortages at any time.
As you produce your software, come up with different packages to meet the needs of your clientele. Have two or three packages tailored to fit different segments. These segments may differ in usability, ability to pay, and ROI (return on investment). Versatility will ensure your company is always engaged and there is a constant flow of money. Therefore, your business will be profitable.
While you employ the various tips to help a software company succeed, you’ll require proper insurance coverage and documentation to operate. At InsureYourCompany.com, we have a team of experienced business insurance experts ready to guide you in your success journey. Ensure you get a customized insurance quote today to start protecting your business the right way.
Hiring employees is a big step for small businesses. It shows that you have grown enough to need some help to get through your daily activities. However, once you hire some people to help you continue to grow your business, your work isn’t over. In fact, many would say that you have even more to do. You need to make sure that you hire the right people and then find ways to make sure that they are happy in their job so that they are as productive as possible.
Here are some tips to help.
Pay them well. Good and hardworking employees are worth every penny, so it is important that you pay them as much as you can afford. People who feel like they are justly compensated for their work are happier and more likely to stay with an employer for a long time.
Give them the best benefits package that you can afford. Benefits are essential for finding and keeping employees. If you can afford to, you should try to offer health insurance for your employees and your families. If not, you need to make sure that all of your employees get paid vacation and personal time. This is essential for happy employees. They need time away from work!
Make balance an essential part of your business. Balancing work and home life isn’t easy, but you can help your employees out by making sure that they leave on time. You can also make sure that they don’t miss the important things in their lives, such as baseball games, concerts, and recitals.
It is also important to do your best to make sure that your employees use their vacation and personal time. Everyone needs time to unwind and relax, even if they don’t go anywhere. You also want to offer a job where people don’t feel guilty for calling out when they don’t feel good. If your employees are sick, they should stay home and take care of themselves. Parents also shouldn’t feel bad when they need to stay home to take care of their children who aren’t feeling well.
Don’t be afraid to say thank you. When your employees step up and do something extra, a thank you will go a long way. It makes employees feel like they are appreciated, and they will work harder just to prove their worth. You will be amazed at how a simple thank you can make someone feel.
It doesn’t hurt to show your appreciation in other ways. That being said, there are times when you might want to do a little extra for your staff. Serving breakfast or lunch once in a while can show employees that you really care about them. If someone stepped up and covered extra shifts for someone else, you may want to offer them a gift card to their favorite store. These little things don’t have to cost you much, but they will mean a lot to your employees!
If you want to have employees that work hard, you need to make sure that they are happy. You can do this by paying them well and offering them benefits. However, paid time off doesn’t work unless they take it! You also want to make sure that you thank your employees when you are really proud of them. Doing a little extra will also go a long way. You may want to bring lunch in once in a while for a job well done! It will be greatly appreciated.
Contact us for all of your insurance needs. We will help you protect your business so that you can continue to do what you love.
Once you have a few employees under your employ, you are going to have to change your way of thinking. Instead of just being a business owner, you are now an employer. You are the one who is going to be in charge of them (and the future of your business). You need to find a way to connect them and work with them so that your business runs as effectively as possible. This is even harder today when most people prefer to work from home.
So, how can you maintain an effective workforce?
Have a clear goal in mind. Before any of your employees know what is going on, you need to know. So, come up with a plan of action. Figure out everything that needs to be done and decide who is the best person for each job.
Communicate, communicate, and communicate some more. Once you have a plan, it is time to move forward with it. Though everyone groans about meetings, the truth is that they are a great way to get everyone together and talk about your goals and plans. You can also use this time to delegate the tasks that need to be done.
You may also need to have smaller meetings so that everyone is one hundred percent on board with you. Don’t be afraid to check in as time goes by so that you can make sure that everything is still going according to your plan.
Find a way to be flexible. As you implement your plan, you may realize that you need to make some changes. You are going to need to let go and be flexible. You may need to hire a new employee to get a certain task done in time. Not only that, but you may also realize that you gave the wrong task to the wrong person. Switch it up, until you find the right person for each task.
If something is not working, and you need to make changes, do it now. It is better to quit partway through a project than struggle through the whole thing, only to realize that you are going to have to go another way. Your goals and plans may change and there is nothing wrong with that!
Learn to delegate. You don’t need to micromanage your employees. Give them tasks to do and let them go. Don’t be afraid to check in periodically, but you don’t have to watch over their shoulders to make sure that they are doing the work properly. Employees work much better when they are given the freedom to work at their own pace and to figure out the best way to get it done!
It can be hard to manage a workforce. You have to start with a plan, though you may need to be flexible if it isn’t working out exactly the way that you hoped. You may need to make some minor (or even major) changes in order to keep everything going. You also need to communicate with everyone so that all of your employees know what the plan is and what they need to do to help you get there. This may include a lot of meetings or just weekly check-ins to make sure that everything is going well.
This also means that you are going to have to let go of some things in order to delegate. You chose your employees for a reason, so it is important that you let them do what they are good at! They don’t need you watching their every move in order to get things done. In fact, they will probably work harder without you breathing down their neck!
Contact us for all of your insurance needs. We will help to protect your business so that you can focus on doing what you love!
When heading off to college there are a lot of things to think about. Finding a place to live is high on the list. Whether you opt for dorm or off-campus housing, you are going to need to buy some things or take them from home. A laptop, school supplies, and television are standard big-ticket items. Your new college space may also need dressers, a couch, and a mattress. The amount of “stuff” you need to live away from home adds up quickly.
That is why you should really consider renter’s insurance. Here are some reasons why.
Renters insurance is often inexpensive. An average policy is typically under $200 per year.
From small accessories to big-ticket items, your stuff accumulates quickly. Your television, computer, laptop, printer, and furniture can cost several thousand dollars. If you are a gamer, you may have a game system, good speakers, and other expensive gear. You may have a good camera and other possessions that you don’t want to leave at home. All of these items add up (and quickly).
Most college students don’t have a lot of extra money. It is much cheaper to have the insurance than it is to replace everything you brought to college.
Unless you live in the dorm and your primary residence is still your parents’ house, your belongings probably won’t be covered under your parent’s homeowner insurance policy. If you are on your own, you need to be protected.
Even if you are covered by your parent’s insurance policy, it may not help you out when you need it. Most deductibles are pretty high, so they might not cover your two-hundred-dollar television. If the deductible is five hundred dollars, you will have to pay for a new TV out of your own pocket.
Most renter’s insurance deductibles are much lower, making it a more affordable option for you.
Many apartment complexes require all tenants to have renter’s insurance for everyone’s safety and protection. Likewise, you may not be allowed to move in until you can show proof of insurance.
Though you may not want to spend any extra money on renter’s insurance, it is usually a great idea. This is especially true when you start to think about how much stuff you really have. A laptop and some furniture can really add up. There are times when it is worth getting your own policy!
If you want to make sure that you and your belongings are fully protected, don’t hesitate to contact us today. We will be glad to talk to you about all of your insurance needs and wants to find a policy that you need.
As a small business owner, the last thing you need on your plate is to become a victim of a cyber-attack or breach. Unfortunately, cyber-attacks and data breaches are becoming increasingly commons, and dealing with an issue is always simpler if there is a plan in place. According to a US Small Business Administration survey, small businesses cannot afford the same level of cyber defense as larger companies, which makes them more vulnerable to an imminent attack.
Risk management encompasses the identification, analysis, and response to risk factors that form part of the life of a business. Effective risk management means attempting to control, as much as possible, future outcomes by acting proactively rather than reactively. Therefore, effective risk management offers the potential to reduce both the possibility of a risk occurring and its potential impact. (CFI.com)
Effective risk management comprises a plan of proactive measures that will minimize exposure and create a safety net in case the proactive measures are compromised. Working with a trusted partner that can provide a risk management plan and a safety net is the ideal situation. At Insureyourcompany.com, we have the knowledge, expertise, and ability to help develop a plan for your business and provide insurance as a backup should it be needed.
All companies handle various types of sensitive and personal information ranging from just contact information to private financial data. The era of instantaneous communication and the ability to conduct business digitally has made everyone’s job easier and increased productivity to unimagined levels. This ability has also created the potential for companies to be infiltrated more easily. The days are over where you had to break into a building to steal an asset. Now, a criminal can sit with a laptop or cell phone and do vast amounts of damage without leaving a trace.
This is done on a few levels:
Insurance is an important aspect of your risk management planning. While not all perils can be completely prevented, Cyber Liability, Professional Liability, and General Liability insurance can help protect your business. Contact Insureyourcompany.com for an assessment of your needs today.
Starting a new business can be scary. That being said, it also could be the best thing that you have ever done. You get to be the boss, make your own hours, and do what you love. However, you must think carefully when you start a business.
Here are some insurance and business tips for new business owners.
You really need a solid plan before you start a business. Not only will you need this to get some capital to get started, but it also will help keep you on track to have a successful business. Make sure that you know what you want to do with your business and what you do not want to do. Know how much you are going to charge for your services. If you are going to sell items, know exactly where you are going to get them from, what they will cost you, and how much you are going to sell them for.
It also helps to know who you are trying to reach with your business. Know as much as you can about your ideal client. Who is she or he? Are you looking at a certain age range? What interests your ideal client? What catches their attention? By knowing this, you can market your business directly to them. You aren’t going to put up ads for babies when your ideal clients prefer cute kittens and puppies.
Many small business owners start part-time while they continue to work their full-time job (or cut back their hours). This allows them to continue to have an income while deciding whether or not their business will succeed.
Some work best by quitting their job and giving their business their full attention. This means that they have to succeed because they have nothing to fall back on!
You are going to make some mistakes. You are going to screw up and upset some clients. Not only that, but you may also lose some clients along the way. That is not the end. In fact, it should be the beginning. Learn from your mistakes and do better next time. The only negative thing that can come from mistakes is if you don’t learn from them and do things differently the next time!
If you own a company, you have a lot to lose. If someone sues you, you could lose everything, including things that aren’t a part of your business, such as your house. For this reason, you need to talk to a professional when it comes to insurance to make sure that you are fully protected, just in case. It is much better to be ready than to lose everything.
Before you start a business, you need to come up with a plan. Outlining your business plan allows you to move forward. It lets you decline something that isn’t in line with your plan. It also helps to know who your ideal client is. You are going to need to market to him or her so really study the types of people that you are trying to reach.
You also need to make sure that your business is protected. Not only that, but you don’t want to lose your home because you didn’t have enough insurance. The best way to be protected is to talk to a professional. He or she will be able to talk to you about your options so that you can feel good about your policy.
If you want to make sure that your business is protected, contact us today. We will be glad to talk to you about your options to make sure that you and your business are protected.
You’re finally starting your business, woo-hoo! You have your brand, your team, your finances, and your location, everything’s great. But wait, before you can do any business, you must have your state and federal legal obligations taken care of, have you done that? If this sounds foreign to you or you just don’t know where to start, InsureYourCompany.com can help you better understand the insurance side of protecting your business while staying compliant with your state and local laws.
There are external and internal business compliance requirements that you will need to meet. External requirements will involve filing paperwork and paying state and federal taxes, while internal requirements will be kept inside for your own files and record keeping. If you decide to one day sell your business, you may need to have those records available.
Corporations have some really strict requirements which are why certain things need to be done regularly when running a business. Some helpful things to adopt would be:
An LLC doesn’t have such strict requirements, however, they are advised to:
Some businesses have limited internal requirements while others have no internal requirements at all. Not a good idea, consider looking into some internal requirements. If you don’t know where to start, InsureYourCompany.com can help you with that.
Based on your business structure and the state that your business is in, your annual filing requirements may fluctuate.
Here are a few common requirements to watch for:
Beyond paying federal taxes and complying with the Affordable Care Act, most businesses will not have to worry about all the other federal requirements. So be certain to meet each of your federal obligations for your business inclusive of employer and income taxes.
Businesses with 50 plus employees must report to the IRS that they provide health coverage as required by the Affordable Care Act. Keep any federal licenses, permits, or certificates for your business up to date.
Not all business activities need to be regulated, so they don’t require filing. However, you need to be sure to stay compliant with all the laws for your state and business type such as:
It is detrimental to the success of your business to maintain your licenses, your permits, and the recertification that you get from your local state, city, or county, and renewal requirements will vary.
Depending on the type of business you have, here are some resources that you will need to register your business with:
InsureYourCompany.com is your one-stop for all that’s business insurance-related. We understand your business needs as a business owner because we’re business owners. Contact us today, our team of insurance experts is here and ready to help you get and stay small business compliant. In the meantime, visit our blog over here.
Small business owners are quickly learning that they need proper documentation to guarantee the success of their business. One document that most business owners tend to overlook is the certificate of insurance (COI).
Understand that the COI is a vital document for all organizations that use outside contractors and vendors. However, most business owners are still unclear about why they need to show their certificate of insurance. In this article, we will take a comprehensive look at COIs, and why you might be asked to show them.
A Certificate of Insurance is a document that proves your business has an operational insurance policy. It includes; the expiration date of the coverage, the limits of the insurance, and the type of insurance. You get the COI from an insurance company, thus verifying that your business is covered.
Regardless of the type of industry, there are several reasons why you might need to show your certificate of insurance. Below is a quick look at some of these reasons.
Most customers will need to make sure you have the proper insurance coverage. In doing this, these customers can rest assured that they are not liable in the event of a claim. Understand that we are living in times when everyone is looking to protect their financial interest. Customers are merely looking to avoid the headaches that come with insurance claims.
If you need to bid on a job at any state or municipality agency, you have to show your certificate of insurance. Municipality or state agencies will only give tasks to compliant companies. The first step to ensuring that your company is compliant with state and federal law is by having the proper insurance policies in place. It is impossible to bid on any municipality or state job without a certificate of insurance.
All businesses will need to sign a contract at some point in time. However, did you know that your business cannot sign a binding agreement without the COI? According to the law, only compliant establishments can sign a legally binding contract. Having a certificate of insurance will ensure that any signed contract within your organization is legally binding.
You will need to show your certificate of insurance when obtaining any professional license or certification. Understand that these documentations demonstrate a business’s commitment towards continuous learning, upholding industry standards, and superior professionalism.
Your insurance provider will always give you a certificate of insurance. If you recently purchased insurance, you probably have the certificate. However, if you didn’t get the COI, contact your insurance provider.
You can see that the COI is a vital document for any business establishment. The good news is that your insurance provider will always provide it for free. Ensure that your business is compliant by having all the right insurance policies in your establishment.
Finally, understand that you should always have your Certificate of Insurance with you; do not wait until a client asks for it. It could be the difference between losing and keeping a client.
Do you need help securing the proper insurance coverage for your business? At InsureYourCompany.com, we will help you employ all the right strategies to avoid loss of business or legal issues. Ensure you contact us today to speak to a licensed professional with years of experience in the insurance industry. It is time you started focusing on the growth of your enterprise.
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InsureYourCompany.com has been treating clients like family for over 15 years. You’ll never have to talk to an automated phone system—we have business insurance experts ready to provide personalized customer service, not only helping you with your insurance and employee benefits needs, but showing you how to be a smarter business owner.
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We believe in supporting our clients through every step of the insurance process. From choosing the right coverage to filing a claim, we are here to offer guidance and support. Request a free quote today and get coverage that meets your unique needs.
