- Like many New England states, Maine is full of businesses with traveling employees. If your IT company performs work in other states along the East Coast or beyond, don't forget to report your payroll in those states to your workers' comp insurance carrier. If you fail to do so, those employees might not be fully covered.
- Over time, your business may outgrow your insurance coverage. Your TechInsurance agent can perform periodic policy reviews to ensure that your coverage is keeping pace with your IT business's growth and level of risk.
- Workplace safety is a must for many reasons, including cost reduction. A formal safety program can help to keep your employees safe and your workers' comp premiums low.
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Known for its rich history in the maritime and forestry industries, Maine is also home to many cutting-edge technology industries, such as electronics and biotechnology. With a strong work ethic and a knack for innovation, Maine is a state full of smart businesspeople—and the IT realm is no exception. To protect everything you have invested in your IT business, get appropriate business insurance from TechInsurance. From professional liability to general liability to property coverage and beyond, we can get you covered—fast—at a great rate.
Weathering the Winters in Maine
Mainers have weathered many a nor'easter, and are all too familiar with the property damage and power outages they can cause. Some storms have been so severe, businesses have sustained damage that caused them to close their doors until repairs could be made. In Maine, it pays to carry both property insurance and business interruption insurance, which pays lost income if your business is shut down due to a covered loss. Ask your TechInsurance agent for more information.
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If you're looking for any of the following types of insurance, we've got you covered:
You may have heard this type of coverage called a "BOP," or Business Owner's Policy. This policy packages general liability insurance with property coverage at one affordable rate, giving you protection if a client should be accidentally injured at your location or if one of your employees causes property damage or bodily injury at a client's site.
Commonly called "errors and omissions" or "E&O" insurance, this type of coverage protects you if your client should claim that mistakes, negligence or omissions you make on the job caused the client a financial loss. For professional services companies such as IT businesses, this is one type of insurance you shouldn't work without.
Many states require companies with employees to carry workers' comp insurance, which pays for medical care and disability coverage for your employees if they should suffer a work-related illness or injury.
If you have employees, you need EPLI. This type of insurance protects you in the event that one of your employees claims an employment practice violation, such as sexual harassment; wrongful termination; or gender, race or age discrimination.
STATE INSURANCE LINKS
- IT Staffing: A Unique Set of Risks
IT staffing firms know the importance of pre-screening job applicants and conducting thorough background and reference checks. But even staffing firms that screen with care can end up facing a lawsuit.
- Client Contract Requirements: Is There Such a Thing as Too Much Insurance?
You've got pen in hand, ready to sign a new client contract, and then you glance at the fine print. It says that to get the work, your IT business needs to carry five different kinds of insurance. That can't be right! Or can it?