Types of Insurance Home Health Care Businesses Should Have

As improvements in modern medicine increase, so does the aging population. This increase in the elderly population creates more of a demand for home health care and other types of social services. As your social service business grows, it needs to be able to protect itself with the proper insurance coverage.

What types of insurance should a home health care business have? First of all, there are some general types of insurance that all businesses will need. All companies should have a general liability policy for any accidents that happen on the premises or as a result of daily operations of running a business. An example includes slips and falls due to inadequate housekeeping.

Source: by cooldesign via freedigitalphotos

In addition to regular business operations, there are exposures of a typical patient care business. An example of this type of exposure could include a patient having an unforeseen allergic reaction to a medication prescribed by a doctor. Furthermore, home health care has some specific exposures that not all patient care businesses have. One of the specific risks comes from risks of field operations. Working at other people’s homes, clinicians have limited equipment and limited people to work with. Also, as an employer, you run the risk of not having supervision over your employees. All of these examples are risks for which your company needs the proper coverage.

In addition to general liability insurance, you should have a professional liability policy to protect your business. This coverage will protect your organization in the event of a malpractice or negligence by your employees.  In addition to professional liability coverage, you should have a workers’ compensation policy to protect employees. Employees can just as easily slip and fall and injure themselves due to inadequate housekeeping. Furthermore, as a home health care business, you do not always know the types of environments your employees are entering into by going to other people’s homes. In this situation, having workers’ compensation coverage is critical.

Lamb Financial Group can help you learn about the insurance coverage your social service business needs. Contact us or call 866-481-5262 to speak with an insurance professional.


Preventing Break-Ins at Your Organization this Holiday Season

preventing theft and break-ins at your organization

Source: pippalou via morgueFile

With the holiday season approaching, burglars know that you are more likely to be with your friends and family rather than staying at your business and working. This situation increases the risks of break-ins during the holidays and it happens more than you may think. Knowing how to protect your non profit organization from breaking and entering will help from becoming vulnerable to loss.

Below are a few tips on how to protect your organization this holiday season:

1. Install a security system. This could be as easy as installing motion sensors or having an access keypad. Monitoring these systems is critical if they are going to be effective.

2. Keep all valuable items out of sight. This may deter burglars from breaking in if they do not see any valuables.

3. Keep all cash or any other valuables in a safe and have that safe secured to the floor. If the safe is bolted to the floor, burglars cannot pick it up and walk out with it. This way will keep the burglar at the premises and may result in police catching them in time.

4. Install a surveillance system that is linked to a system in your home or smart phone for monitoring. If burglars see that a camera is recording everything and someone is watching, they are less likely to break in.

5. Light all entrances. Burglars like to be able to enter premises without being seen, therefore, have a light on in an entry point might make them think twice about entering.

6. Make sure all doors have dead bolt locks and are lined with metal security cross bars.

7. Windows should have locks and burglar-resistant glass.

If a loss should occur, such as theft or vandalism, you will need to have the proper insurance protection. Lamb Financial Group can help you learn more on how to protect your non profit organization this and holiday and provide information on the proper coverage you may need. Contact us or call 866-481-5262 to learn more.

Liquor Liabilities – The Risks

Have you ever been to a company event and noticed a guest that has been served too many drinks? Have you ever wondered who would be responsible if this patron hurt him or herself, or caused harm to someone else due to intoxication? Most commercial liability insurance packages exclude liquor liability coverage, which can leave your company vulnerable to claims of over serving at a business event. Before hosting an event and choosing to serve alcohol, you should not only determine whether or not your organization has the proper liquor liability coverage, but also consider ways to reduce the risk of over serving.

Source:Stuart Miles via Freedigitalphotos.net

A business that does not serve alcohol as a part of their day-to-day operations, but decides to throw an event with alcohol, will need to review its policy for liquor liability coverage. Serving alcohol will most likely not be covered under your general commercial liability policy. Therefore, your business should consider adding the host liquor liability coverage endorsement onto your policy. This endorsement will protect your business if someone or something at your event is injured or damaged as a result of intoxication. This endorsement, however, will not provide coverage if your company violates the law, such as serving alcohol to a minor. A discussion with an insurance professional about the event will help provide your company with the necessary coverage needed and can further educate you on the policy exclusions.

In addition to the host liquor liability coverage, your business should consider taking proper precautions to reduce the risk of injury due to alcohol. The following precautions are ways to prevent injury as a result of overconsumption:

  • Serve food to prevent guests from drinking on an empty stomach
  •  Put up signs to drink responsibly
  • Do not serve to minors
  • Obtain the proper licenses and permits
  • Hire professional bartenders that can recognize intoxicated patrons
  • Hire security for the event
  • Provide volunteers to give rides for guests who have been drinking

The best way of preventing claims is to decrease the risk exposure from the start. If an accident does occur, your liquor liability coverage can protect your company against a claim.

Lamb Financial Group is a New York insurance broker specializing in serving nonprofits and other social services organizations. By speaking with an insurance professional from Lamb Financial Group, you can find the appropriate coverage needed for your organization’s event.