FAQ: What is E&O Insurance?

Here is an excerpt from a new blog post at GreggMarcus.com:

Errors and omissions coverage (also known as E&O Insurance) is a professional liability insurance that protects firms that offer advice or services. The policy covers the insured against any claims from a client who claims they suffered monetary loss or the policyholder didn’t perform due to negligence. General insurance companies often omit this particular coverage from their standard plans and it must be purchased separately. In this blog post, Gregg S. Marcus, a Long Island Insurance Executive discusses E&O insurance in further detail.

Many times people confuse E&O Insurance with Malpractice Insurance, which Is linked to professional liability in the medical field. An Errors and Omissions policy is required in the legal, financial industries and well as for construction and maintenance contractors and professionals working within the transportation industry. This is often due to the elevated exposure to failure to perform lawsuits. It is also suggested to have E&O insurance if you provide any type of professional service or regularly give advice to clients. It is important to make sure your E&O insurance policy covers not only full-time employees but also outside employees or contractors as well.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.

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Why Your Business Needs Liability Insurance

Here is an excerpt from a new blog post at GreggMarcus.com:

The smallest and simplest accidents can turn into serious legal cases for businesses these days. It is very important to protect against litigation with a commercial liability insurance policy. Liability insurance that covers both public liability and product liability insurance is general liability insurance. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains the importance of a good liability insurance policy for your business.

Almost any type of business wherein there are risks of bodily injuries or property damage due to negligent actions can get general liability insurance. This type of insurance policy covers claims from a person injured due to usage of a product supplied and/or manufactured by a business, and from a person injured during the general operation inside the business site. General liability insurance enables businesses to protect their assets and properties when they are sued for something that they did or did not do, no matter how little or big the damage or injury that has occurred.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


5 Ways to Lower Homeowner’s Insurance Costs

Here is an excerpt from a new blog post at GreggMarcus.com:

According to the Federal Emergency Management Agency (FEMA), flooding is the most common natural disaster in the United States and causes more than $2 billion in property damage annually. With new storm Katia forming in the Atlantic, we may have another Hurricane hitting Long Island and causing major flooding soon. It is important to have your home prepared ahead of time to minimize losses and ensure your family’s safety. According to Gregg S. Marcus, a Long Island Insurance Executive, follow these steps to keep your home and family safe in a flood disaster:

Make a Family Emergency Plan
Before a disaster hits, plan and practice a flood evacuation route with your family. Make sure you know safe routes from your home, workplace and children’s school to shelter on higher ground. Also create a safety kit, or “go bag” with enough drinking water and non-perishable (canned) food to last your family a few days. It should also include a first-aid kit, a battery operated radio, blankets and a flashlight. Keep it near the front door of your home so you can grab it quickly if you are evacuated. And lastly, don’t forget your pets! Have a plan in place for them. Most shelters don’t allow pets, so make sure you know what you will do with them if you are evacuated.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


Preparing Your Home for a Flood

Here is an excerpt from a new blog post at GreggMarcus.com:

The premiums you pay on your homeowner’s insurance can vary by hundreds of dollars; depending on the insurance company you buy your policy from. Gregg S. Marcus, a Long Island Insurance Executive, gives you five other important things to consider when buying homeowners insurance.

1. Raise Your Deductible
A deductible is the amount of money you have to pay toward a loss before your insurance company will start to pay the claim, according to the terms of your policy. The higher the deductible, the less money your insurance premiums will be! Currently, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25% off your premium. Depending on where you live, there may be separate deductibles for certain kinds of damage. For example, if you live in an earthquake-prone area, your earthquake policy has its own deductible.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.


Hurricane Irene has Passed, but the Risks Have Not

Here is an excerpt from a new blog post at GreggMarcus.com:

Exhaustion, Injury, Stress – take precautions to avoid these post-disaster risks.

Just because the storm has passed, does not mean the risks have as well. It is important that you continue to take care of the health of both you and your family.

Exhaustion
Avoid exhaustion by pacing yourself. While you may be anxious to finish any clean up and get life back to normal as soon as possible, don’t over exert yourself. Set goals and maintain a reasonable pace. Take care to drink plenty of water, rest and eat well. Remember the old adage, “slow and steady wins the race.”

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.