Launching a business is exciting, particularly when you’ve tapped into an in-demand market. However, if you’re investing in a new venture in Wilkes-Barre, PA, it’s crucial to understand how to navigate liability risks and commercial insurance options effectively. At The Shay Agency, we’re here to help you understand liability risks for your type of business while assisting you in finding an insurance plan that meets your needs.
Liability Risks for Businesses in Wilkes-Barre, PA
When operating a business in Wilkes-Barre, PA, there are a few key liability risks to be aware of, including:
- Professional Liabilities: Errors and omissions, along with negligence, are liabilities when running a business in Pennsylvania.
- Product Liabilities: If you’re producing products, defective or harmful products may create liabilities.
- Bodily Injury: Liabilities involving injuries due to your operations.
- Employment Claims: Wrongful termination, harassment, abuse, or discrimination.
- Cyber: Cyber risks such as include, data breaches, or security vulnerabilities.
Types of Commercial Insurance in Wilkes-Barre, PA
Some common types of commercial insurance options in Pennsylvania include:
- General Liability: General liability insurance is crucial to protect against common risks, such as property damage or bodily injury.
- Product Insurance: Product insurance protects you from potential harm caused by defective products you manufacture or sell.
- Professional: Professional liability insurance protects against negligence and omissions claims.
- Cyber: Cyber insurance can protect you from data loss, hacks, or breaches.
- EPLI: EPLI, or Employment Practices Liability Insurance, helps protect against discrimination and wrongful termination claims.
Whether you’re running a retail store, operating a local agency, or you’re constructing a commercial warehouse, having adequate liability and commercial insurance matters. To learn more about commercial insurance policies and how to navigate liability risks in Wilkes-Barre, PA, contact The Shay Agency today.