Professional Liability Insurance Requirement for Marketing Consultants

January 23, 2011 by admin
Filed under Marketing

Professional Liability Insurance Requirement for Marketing Consultants

If you’re a marketing consultant, you probably have at least one client company that requires you to carry some type of insurance. Maybe you run a small marketing or market research firm with a few employees, or maybe you’re an independent Internet marketing consultant or media professional. Regardless, you might wonder: Is all this insurance for marketing consultants really necessary?

If your client says you need it, you know you have to get it to secure the work. The good news is, in the majority of instances, getting the required marketing consultant insurance coverage can be both affordable and healthy for your business.

In general, client companies want their marketing consultants, researchers and media professionals to carry some or all of the following three types of coverage:

General liability insurance

General liability insurance covers injury to people or damage to property. To marketing consultants, insurance like this may seem unnecessary. After all, what’s the likelihood that someone leading a meeting or presenting slides will damage a client’s property or hurt someone?

The fact is, a lot of companies require any vendors who may come on-site – from network technicians to market researchers, media professionals and Internet marketing consultants – to prove that they have general liability insurance. In most cases, the client’s risk managers drive the mandate, seeking to reduce the company’s risk of financial losses from lawsuits.

Additionally, general liability insurance reduces marketing consultants’ liability in the event of accidents at their own offices. If a client injures himself when he trips over the rug in your office’s entryway, your general liability insurance should cover any related financial liability – and could save your business relationship with that client.

Professional liability insurance

Professional liability insurance, also known as errors and omissions or E&O insurance, is like malpractice insurance for marketing consultants, protecting you in the event of errors and omissions made by you or your employees. Clients require it for a good reason: People make mistakes.

Your client’s greatest risk in bringing you in as a marketing consultant is that any error or oversight on your part could spark a lawsuit or financial loss. Having this type of insurance can substantially reduce marketing consultants’ liability.

Let’s say you develop an advertising campaign that you’re sure will win your client new business. Instead, some existing customers find the campaign offensive, sparking a backlash that results in lost business for your client. Your client can claim that you’re responsible for any resulting financial losses and could sue you for compensation.

Professional liability insurance is a good idea for any marketing or media professional. Without it, your legal defense could be expensive enough to sink your business. Sometimes, all it takes is a misunderstanding, and you can be hit with a lawsuit. After a client alleges that you were negligent and communications begin to break down, your legal expenses rise exponentially.

To get answers about the right amount of coverage for E&O, marketing consultants should seek out a reputable insurance agency that can assess the business’ level of risk.

Workers’ compensation insurance

Workers’ compensation insurance can be one of the more confusing types of coverage, largely because some states require it while others don’t. If your client’s home office is located in a state that requires it, you could be asked to carry it, even if it’s not a requirement in the state where you do business.

Why do clients insist on workers’ compensation insurance for marketing consultants? In some states, if you’re injured while under contract, your client must cover you with its own workers’ compensation policy. And, in some states, your client’s insurance carrier may require its customers to cover all contractors that don’t show their own proof of coverage. In both cases, your clients’ premiums go up.

In the event of on-the-job injuries, workers’ compensation insurance pays for medical expenses as well as disability and compensation. If you’re a solo marketing consultant or media professional, and you have your own health insurance policy, workers’ compensation insurance may be unnecessary – but your client may require it nonetheless.

If your marketing consultancy does have employees, protecting them with workers’ compensation insurance is just a wise idea. Whether it’s repetitive stress injuries due to typing or a sprained ankle from a fall on a slick break room floor, even the smallest on-the-job hazards could result in injuries that could take your people off the job. Workers’ compensation insurance gives you peace of mind that your employees are taken care of, and saves your marketing consulting company the cost of any ongoing medical care.

James Cochran is the founder of Business Insurance Now, a company committed to providing quality professional liability insurance to small businesses. Jim has been actively involved in the industry for over a decade and understands the value that general liability insurance has for consulting companies.

Article from articlesbase.com

Tags: Consultants, insurance, Liability, Marketing, Professional, Requirement

Continuing Education College Becomes a Requirement

September 9, 2010 by admin
Filed under Education

1 Comment

Continuing Education College Becomes a Requirement

Importance of a good college education is inestimable; its profit is incalculable. Although college tuition can cost you a few thousand dollars, not going can cost much more in your lifetime. In fact, there are plenty of available financial aid options to help you face the cost of your college tuition. From federal to private organization, if you are interested in finding financial aid to continue your education, you will surely find an institution to help you. This article explains the importance of a college education and steps to take to find financial aid.

Education aims to provide every individual the physical, intellectual and moral development they need. It allows you to manage your lives and face the demands of the society in which you live. Education has always been essential in human life. From the beginning of time, humankind has sought to invent new technologies to better meet their needs. However, with the advancement of science, higher education is becoming increasingly more important. In developed countries like the United States and Canada, a degree in college is “necessary” to live a life more or less modest.

Not long ago while I was in hospital, I met a pretty woman who was working in the hospital as a Registered Nurse. She seems so happy that I asked questions about the job she was doing and why she is so happy. She started telling me the reason of her joy. Before becoming a RN, she used to work in a restaurant as a dishwasher. When she realized that she was going to lose her fingers by water/sanitizer solution, she decided to get a part time job and went to college. Now, being a RN, she works less, and makes much more money. She told me, “That’s the greatest decision I ever made in my life.”

I am not telling you there is no success in life without a college education, but the chances are slim. Even those who are, because of their talents, succeed without an education are often full of social gap; although money seems to talk in this society. Truly, if he were not educated, Obama would never break the barrier of racism to become the first black president in the US, which for many remains unbelievable. You are not Obama and you will never be; however, you can be a professional in a branch. Nothing is more rewarding than a good professional education.

According to a study published by U.S. Department of Labor, nearly 90 percent of the fastest growing job (mostly in computer and medical fields) require a college education or technical school training. In addition, there is a big difference between college and high school graduates salaries. A college graduate employee in the U.S. earns nearly twice as much as an employee with just a high school diploma. It is estimated that college graduates will earn $ 1 million dollars more than those with only a high school diploma, according to University of Wisconsin-River Falls. If life becomes harder day by day, college education becomes more necessary to cope with the exigencies of the society.

As jobs continue to decline, it becomes more difficult for high school graduates to obtain a “medium-paying job” that was once available. The benefits of a good education are unlimited; having it is as precious as gold and silver. The question is how to pay for that education? If you do not want to take student loans, it may be difficult for you to go college. Find grant is difficult but not impossible. You can find a list of top colleges in the US and all information you need to find financial aid to pursue your education. For details, Visit continuingeducationcollege.com, or visit the link in the resource box below.

Remy is a multi-topic writer with years of experience in education. He loves to share his educational experience with others. For your research on college education, please visit continuingeducationcollege.com

Tags: Becomes, college, Continuing, Education, Requirement