FAQ: Product Recall Insurance, EPLI and more

Date: Sep 30, 2014
By: Basi Insurance

Besides providing basic types of personal, business and farm insurance, we at Basi Insurance Services also offer some more specialized types of coverage to all sorts of businesses and professionals. After you browse the answers to some frequently asked questions about these policies, feel free to contact us at any time for more information and free insurance quotes.

BasiDoes a Small Business Need Employment Practices Liability Insurance (EPLI)?

If your business employs workers, you are bound to have some concerns about violations of legal employment practices. These days, claims of harassment, discrimination and wrongful termination have become common. EPLI is a type of liability insurance that can defend your business against these claims and pay settlements if you lose your lawsuit. Small businesses may have fewer employees than large corporations, but they may also have fewer resources to combat an employment lawsuit.

Does My Business Insurance Include Cyber Liability Insurance?

Your basic property insurance might replace your computers, but it is not likely to pay for damages if your online customers claim that a website security failure caused their personal information to get stolen. After reading about damage to major companies caused by hackers, you might wonder if you can afford to operate without proper cyber insurance.

Who Needs Intellectual Property Insurance?

Could a competitor ever sue your company with a claim of trademark, patent or copyright infringement? If so, intellectual property insurance provides both defense and the payment of claims up to policy limits.

Which Businesses Need Product Recall Insurance?

Any businesses that produce goods for resale or wholesale could face a product recall to repair or replace defective or dangerous merchandise. Product recall insurance pays the costs associated with a recall. Besides covering shipping, disposal or repairs, it even pays to notify customers of the problem.

What Commercial Insurance Solutions Can Reduce Your Business Risks?

Every company faces a different set of threats, and we at Basi Insurance Services, Inc., specialize in finding each client the right package of protection to help them face the competitive business world. Call us for a free consultation; this includes an analysis of your business and competitive insurance quotes from multiple commercial carriers.

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