Category: Commercial Insurance

Failing to invest in adequate commercial insurance coverage can have drastic consequences for your company in New Jersey. That’s why you need to make sure that you’re meeting your company’s insurance needs. We offer commercial insurance coverage at Creative Risk Management LLC.

The following are four things that business owners sometimes don’t realize about commercial insurance:

Commercial insurance policies can be customized to protect against the unique risks that a company faces. 

Your company is unique, and your commercial insurance policy should be unique too. When you buy commercial insurance for your company, you can choose exactly what types of coverage you want to invest in. You can work together with a representative from your insurance company to find commercial coverage that’s customized for your company. 

Commercial insurance can protect companies against losses caused by employee theft.

Some business owners don’t realize that commercial insurance can cover costs resulting from theft even if a company’s own employees are responsible. 

Commercial insurance can compensate companies for losses faced due to business interruptions. 

Companies can expensive business interruptions due to incidents like natural disasters. Such incidents can completely stop revenue from coming in. Business interruption coverage can compensate a company in such a situation. 

Business owners need to meet any claims reporting requirements specified on their policies to use commercial insurance. 

It’s important for business owners to know about claims reporting requirements. Commercial insurance providers may require that companies report incidents within a given period of time or in a particular way for claims to be honored. 

Consult With Us

If you want to choose the right commercial insurance coverage, you need the right information. If you have questions on coverage for your business in New Jersey, we can provide you with valuable information at Creative Risk Management LLC. Get a quote today by giving us a call. 

Being a business owner gives you full control of everything, including your debt, expenses, and income. Unfortunately, building a small business as a lone ranger is challenging. You’ve to motivate, manage, and assemble a team- development, partners, sales, and customers. Undoubtedly, start-ups are tough on even the most passionate and dedicated founders—others fail and become unhappy! That’s where small business insurance comes in strongly.   

Why Small Businesses Need Coverage

Small businesses in New Jersey face high hurdles like taxes, financing, cash flow management, and other challenges. Fortunately, Creative Risk Management LLC can help protect your business against losses, risks, damages, and lawsuits and provide true peace of mind.    

Here are some of the common types of small business insurance in New Jersey:

1. Commercial Auto Insurance 

It’s mandatory for all vehicles owned by small businesses in New Jersey to be covered by commercial auto insurance. It helps pay the cost of an auto accident involving your business car. 

2. Workers’ Compensation Insurance

If your worker has a work-related illness or injury, worker’s compensation insurance can help pay for their: 

• Lost wages
• Rehabilitation 
• Medical treatment 
• Disability benefits 

It can also help you pay for legal costs if an injured worker or their family sues your business. 

3. Cyber Insurance

Due to weak security infrastructures, small businesses are prone to frequent information theft and cyber-attacks. Cyber insurance can cover claims and losses due to cyber-attacks if your business operates online. 

Reach Out To Us

Any small business that owns equipment or property, meets with clients, or advertises itself is prone to real risks. And your hard work and courage should stay protected. That’s why Creative Risk Management LLC strives to help protect your business. Contact us today for small business insurance tailored to your business needs.

As a condo owner, you want to make sure that your property is well-protected against any potential damage that guests could cause. You can take a few simple steps to help safeguard your investment and keep your mind at ease while entertaining. By following these tips from Creative Risk Management LLC in New Jersey, you can help ensure that your next get-together is a success.

How to Protect Your Condo from Guest Damage

What are some common ways that guests can damage condos?

Some common ways that guests can damage condos are smoking indoors, spilling food or drinks on the carpet, leaving dirty dishes in the sink, not taking out the trash, and leaving the condo in a general state of disarray. These are all things that can be easily avoided with a little bit of forethought and common sense. Still, unfortunately, some people do not take the time to consider how their actions will affect the property they are visiting.

How can you protect your condo from damage caused by guests?

You can do a few things to protect your condo from damage caused by guests. First, ensure your condo insurance policy is up to date and covers any damage. Secondly, set some ground rules with your guests before they arrive. Let them know what is and is not allowed in your condo, and make sure they understand that they are responsible for any damage. Finally, inspect your condo before and after your guest’s stay to look for any damages. If you find any, document them and contact your insurance company as soon as possible. 

Contact Us Today

At Creative Risk Management LLC, we understand that your condo is a valuable investment. That’s why we offer comprehensive insurance coverage to protect your New Jersey property and your finances in the event of an unexpected disaster. Whether you’re looking for basic coverage or comprehensive protection, we can tailor a policy to meet your needs. Contact us today to learn more about our condo insurance options.

Workplace safety is a top priority for all employers. Employers must be aware of common dangers and implement practices that help protect their employees. Here are the things Creative Risk Management LLC of New Jersey believes you need to do to improve workplace safety:

Implement A Safety And Health Program

Every employer needs to dedicate time and resources to the safety and health of their employees. This may require developing procedures, policies, and protocols to ensure a safe and healthy working environment. Some companies create a safety committee to oversee these efforts. Other employers take a more informal approach, but a safety and health program is essential regardless of the system.

Conduct Regular Workplace Self-Inspections

Employers need to conduct regular self-inspections to ensure that all hazards have been identified, controlled, and prevented from occurring. A self-inspection is when you visit your workplace, including all areas where employees work, to conduct a visual inspection.

If you find potential hazards, you need to take action. You may need to create a barrier to prevent access to a particular area, install a ventilation system to control airborne hazards, or install a machine to avoid a harmful interaction.

Tap Into Safety Resources

A great idea is to join a workplace safety and health organization. There are many benefits to participating, whether it is an employee organization or a local safety and health association. Participation in a safety and health organization can lead to networking opportunities, helpful resources, and a greater understanding of workplace hazards.

Give Us A Call

Successfully protecting your employees requires continual effort. It is impossible to ensure that every risk is fully mitigated, which is why business insurance is essential. If you own a business in New Jersey, Creative Risk Management LLC can find the right commercial policy for you.

If you have a board of directors or governing body for your organization, Directors and Officers insurance is one insurance that can not go ignored. In a day and age where lawsuits are threatened at every turn, every organization big or small needs financial protection for their leadership group, and for themselves.

At Creative Risk Management LLC, we know how important it is for New Jersey businesses to be covered for every risk that your Directors and Officers are exposed to. It has never been more important for every business to be covered for this risk than it is today.

Directors and Officers Insurance: Lawsuits From Employees

One of the biggest sources of claims to insurance companies on Directors and Officers policies is connected to employees the business already has. The people at your table may be the ones you need this insurance for.

There are a number of reasons you may face lawsuits, or be exposed to them, in today’s business and non-profit world. These include workplace discrimination, wrongful termination, health and safety compliance complaints, or any breach of an employment contract.

That is not to say that you are guilty or already liable to these problems. But today, they are coming up more than ever before.

Directors and Officers Insurance: Lawsuits Against Employees

When you are running a business, you have a lot of things to worry about internally. Today you are looking at all the same issues from the other side of the fence. That is, you are concerned about wrongful termination, health and safety compliance concerns, breach of contract, false discrimination complaints, and more.

Your employees, directors, and officers have a duty to conduct themselves with diligence, loyalty, responsibility, and avoid recklessness. When they don’t, you have cause to file claims. 

To feel protected in all of these scenarios you need the right commercial insurance policy.

Get a Quote

When you are running a business or non-profit, Directors and Officers insurance is a critical coverage for New Jersey businesses today. At Creative Risk Management LLC, we can help you design the policy you need to feel secure. Call us for a quote today.

Starting a New Jersey business can be a lengthy process, particularly if you are not prepared with the paperwork involved. Employees are the most prominent players in your business, and whether you are starting a small business or a large company, you need to make sure you have workers’ compensation. The state of New Jersey also requires you to have commercial auto insurance with minimum coverages in property damage, bodily injury, and uninsured motorist. So how can your employees benefit from your commercial insurance? Creative Risk Management LLC helps you uncover a few ways your employees can benefit from your commercial insurance.

Liability coverages

Every business with employees requires some form of liability coverage. Depending on the type of business you are running or the tasks involved around your company, liability coverage can help you pay for medical bills, pay expensive lawsuits, or income to injured employees while working at your company. Liability coverage also helps protect other people who may visit the business, such as customers and other business people.

Workers compensation

This coverage provides financial support to employees who may become sick or get injured and cannot work. For instance, if an employee gets hit by a falling object at the workplace, workers’ compensation can help cover their medical costs.

Unemployment insurance

Sometimes, employees may need to stop working temporarily or permanently due to injuries they sustained at your business or an illness they acquired while working. If such people cannot work through no fault of their own, this insurance helps provide support to such employees.

There are many ways employers can benefit from your commercial insurance, including retirement accounts, health care plans, pension plans, and even profit sharing. Ensuring that your employees are well-protected is your responsibility.

For more information about commercial insurance, feel free to contact us at Creative Risk Management LLC today!