employment practices liability insurance - epli

EPLI: What Business Owners Need to Know

Getting sued by one of your employees is expensive. If you’re lucky, you might settle out of court and look at about $10,000 in costs. But that’s the low end of the spectrum. Even if you go to court and your case is dismissed, you’re probably paying about $10 to $15,000 out of pocket. And if your case goes to trial, you’re looking at hundreds of thousands of dollars. Very few businesses can come up with that kind of money without feeling it somewhere critical. That’s why many employers choose to invest in employment practices liability insurance, or EPLI coverage.

We’ve already covered the basics of EPLI, so let’s dig a little deeper. Here are three things every business owner needs to know about employment practices liability insurance.

  1. You might be surprised why you get sued. Most business owners buy EPLI coverage to protect against things like wrongful termination and workplace discrimination. But new types of lawsuits are popping up all the time. Your unpaid interns, background check process, and maternity/paternity leave policies could all put you at risk for a lawsuit.
  2. Your business size doesn’t affect your need. Almost every big business will carry EPLI coverage. That doesn’t mean the little guy can skip it, though. The number of employees you have might affect your statistical likelihood of getting sued, but it doesn’t protect you completely. All it takes is one upset employee to find yourself in court.
  3. You can take steps to lower your premiums. The riskier your business looks to your insurer, the more they’ll want you to pay to get coverage. Think through your exposures and take steps to cover them. A thorough employee handbook and ongoing workplace training can help you score lower premiums.

Do you want more information about EPLI coverage? Look no further! Our team at Rothstein Insurance has years of experience tailoring employment practices liability insurance policies to meet the specific needs of the businesses we serve. For more info or to get protection, contact us today.

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4th of July Safety Tips in Ventura, CA

Keep your Independence Day independent from issues with these 4th of July safety tips. 

The holiday weekend is almost here! We’re all waiting for June Gloom to pass so we can get some fully sunny days. If improved weather aligns with the 4th of July, Ventura County will be celebrating in full force. Before you light up the grill and pull out the sparklers, though, give some thought to potential issues. Keep just a few 4th of July safety tips in mind, and you can enjoy your holiday weekend hassle-free.

At the barbecue.

Grilling is a staple in Independence Day celebrations. Can you blame us for loving the opportunity to grill delicious food for the people we love while enjoying our Southern California weather? Of course not! Just make sure that before you light up your grill, you’ve put safeguards in place. If you’ve got a gas grill, quickly check it for leaks before the holiday weekend. Make sure your grill is positioned at least 10 feet away from your house, nearby foliage that could catch, and any other flammable materials. Teach your kids to steer clear of the grill area, and enlist them in helping to keep their friends and any pets at a safe distance.

Around fireworks. 

In light of the Thomas Fires, most Ventura County residents will most likely be practicing extra care with their fireworks this year. The Ventura County Fire Department has a brief list of firework safety guidelines as a good refresher. Even sparklers can be dangerous. They can burn at temperatures of up to 2000 degrees C! If you’re burning sparklers this 4th of July, keep a few buckets of water nearby to safely douse them.

We want to help you enjoy independence from worry this Independence Day. We can help you get the personal and commercial insurance you need to rest easy. We have years of experience protecting families and businesses in California and Hawaii. Put our expertise and personalized care behind you for a stress-free summer. Call Rothstein Insurance today!

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What Kinds of Insurance Do Construction Businesses Need?

Protect your construction business with these types of insurance coverage.

If you work in construction, you know that your industry is unlike any other. There are so many factors every contractor needs to consider, from material type to workforce availability to weather. Each job has a lot of moving parts and many contractors are managing multiple jobs simultaneously. No matter how diligent you are, things can go awry with so much continuous activity. Is your construction business ready to face tomorrow, no matter what it brings? It can be – provided you have the right insurance policies in place to protect it. Here are four types of insurance every construction business needs.

  1. General Liability Insurance. A general liability policy comes to the rescue if you end up facing bodily injury or property damage claims. Let’s say one of your employees damages some part of the property you were working on. Your general liability policy can help cover the costs so neither you nor your employee feels that financial burden.
  2. Builder’s Risk Insurance. This type of insurance was created specifically for your industry. Each job benefits from having a builder’s risk policy in place because this coverage insures the build you’re working on and the materials. Say a freak hailstorm destroys all your progress on the exterior walls or a thief steals the equipment you left at the site overnight. In both cases, builder’s risk insurance can come to the rescue.
  3. Commercial Auto Insurance. Does your company own vehicles? Because you need to transport people and materials between job sites, the answer is probably yes. Don’t leave those vehicles – or your liability because of their activity on the road – exposed. A commercial auto insurance policy will protect you.
  4. Workers’ Compensation. This is non-negotiable. Every business is legally required to carry this type of insurance to protect its employees in the event one of them suffers a work-related injury.

If you own a construction business, contact Rothstein Insurance. We have years of experience protecting companies just like yours and can ensure you put the right policies in place. Call us for all of your construction insurance needs in California and Hawaii.

Business Auto Insurance Keeps Dents Out of Your Bottom Line

Have cars on the road? Your company can avoid financial accidents with a business auto insurance policy.

Did you know that, on average, ten car accidents occur every single second? If your business has cars out on the road that aren’t properly protected, you’re playing some long odds. The good news is that protecting your business’s bottom line against the expense of an accident is pretty simple. All you need is the right business auto insurance policy.

You may think that because your business doesn’t have a fleet of vehicles, you don’t need auto insurance. We’d rather you find out now – rather than later when it could really hurt you – that isn’t the case. If your employees use their personal vehicles for work, even for something as simple as running a quick errand, you could be held liable. Don’t wait until an accident happens to learn where you need to put protections in place!

Business auto insurance will help you in a number of ways. First, it can cover the cost of vehicle repairs, both for your driver and other involved vehicles if your driver was at-fault. This applies even if your employee was driving his or her personal vehicle. Secondly, it can help cover the cost of resulting medical bills. Finally, it can cover your liability if you find yourself facing any kind of litigation as a result of the accident.

You wouldn’t put a car in drive with a broken seat belt and a faulty airbag. Why take on other risks when you or any of your employees are behind the wheel? Whether the roads your business navigates are in California or Hawaii, we can make sure you have the protection you need. Contact Rothstein Insurance to learn more about how a business auto insurance can protect your bottom line from accidents.

Keep Your Business On Track With Business Income Insurance

Don’t let a hiccup become devastating. Prep for anything with business income coverage.

Every business owner knows the importance of maintaining cash flow. Without the revenue you anticipated, everything can grind to a halt – and fast. Something as simple as a piece of equipment breaking could spell disaster if it puts a pause on your income stream. That is, unless you have business income insurance in place.

Business income insurance, also known as business interruption insurance, is designed to help you business weather unexpected breaks in income. Say a fire forces your business to relocate. Or a thief makes away with crucial equipment. Even if your business can’t make as much money as usual because of the incident, your rent will still come due. Your employees will still want to be paid. Your inventory will still need to be replenished.

Business income insurance provides your company with the cash flow it needs to keep everything running smoothly. You can even add protections like:

  • Off-premises services utility coverage: This protection steps in if downed power lines prevent your business from operating.
  • Off-premises operations coverage: This portion of your policy can help with cash flow if something crucial gets damaged while off-site.
  • Cloud service interruption coverage: This coverage can protect your business from financial strain if information stored in the cloud suddenly becomes unavailable, hindering operation.
  • Key personnel coverage: This portion of your policy can help your business maintain its momentum even when facing the challenge of losing a primary person from its staff.

In short, business income insurance is designed to help your business stay afloat no matter what it’s forced to weather. At Rothstein Insurance, we know that every business owner has put countless hours and limitless energy into getting their business where it is today. We believe all that hard work deserves to be protected. If you’d like to learn more about business income insurance, contact us today.

Cutting Edge Coverage: Protection for Technology & Life Sciences

Protecting your technology or life sciences business has never been easier. 

Innovation is shaping our world as we speak. With increasing access to technology and the information networks it enables, we’re continually developing new ways of improving our lives. No one knows this better than technology and life sciences companies. These businesses are spearheading modern advancement. There is a  problem with being out in front, though. It exposes you. Life sciences and technology businesses can forge ahead stress-free when they have the proper insurance in place to protect them.

Let’s say you’re a software or IT company. Your customer doesn’t fully understand your offering and sues you for breach of contract or negligence. If you have the right insurance in place, you can fully defend your business.

Or suppose you’re a telecommunications company. You have a huge range of network safety procedures in place, but you know all too well that network vulnerabilities can be exposed where you least expect them. The right technology coverage gives you peace of mind.

Maybe you’re a life science or medical technology company. You’re the only one who truly understands the value of your research materials and all the data you’ve gathered. Fortunately, an educated life sciences coverage agent can help you put a policy in place that reflects that deep value.

At Rothstein Insurance, we know the work you do is as unique as it is innovative. That’s why we have coverage options for 60+ class codes, including Life Science & Medical Tech, Electronics, Software & Information Technology, Renewable Energy, and Telecommunication. If you’re looking for insurance tailored to your business’s specific exposures, we can help.

Your company is focused on developing the latest innovation. You shouldn’t have to worry about protecting your hard work. That’s where Rothstein Insurance can come in.  Technology and life sciences protection is one of our specialties. We have years of experience protecting businesses in California and Hawaii. Contact us to get the insurance your cutting-edge work deserves.

EPLI 101: What Business Owners Should Know About Employment Practices Liability Insurance

Protect your business from unexpected – and significant – expense with this coverage.

We live in the age of litigation. People sue because their coffee is too hot or because their beer didn’t turn their lives into a tropical paradise. As a business owner, you’ve undoubtedly worried about how a single lawsuit could impact your business. And you’ve likely been relieved to put insurance coverage in place to protect all of your hard work. Have you considered stepping up that protection through employment practices liability coverage (EPLI)?

EPLI coverage is designed to protect your business in the event an employee tries to sue you. It provides you with the financial backing to defend yourself in court without burdening your business with the expense. When would an EPLI policy come in handy? You could use it if an employee sues for:

  • Wrongful termination
  • Failure to promote
  • Wrongful discipline
  • Invasion of privacy
  • Breach of contract
  • Discrimination
  • Sexual harassment
  • Mismanagement of employee benefits
  • Libel/slander
  • Mental or emotional distress

Clearly, there are quite a few occasions in which an EPLI policy can come to the rescue. Without it, a single lawsuit could create a major financial burden for your business. With it, you can rest easy knowing your business is ready to face any employee litigation, reasonable or otherwise.

You can get a stand-alone EPLI policy or purchase a business owner’s policy (BOP). The BOP will include EPLI protection up to a certain sum. If your business is at risk for surpassing that amount, an additional EPLI policy can give your business the financial defense it needs. A knowledgeable insurance agent – like the ones at Rothstein Insurance – will help you evaluate your exposure and put the proper policies in place.  

If your business isn’t currently protected by an employment practices liability policy, we can help. The team at Rothstein Insurance has years of experience putting the best EPLI coverages in place for businesses in California and Hawaii. Be ready to defend your business against employee litigation. Contact us today.

Reduce your payroll taxes and workers comp by as much as 30%

construction_backgroundPrevailing Wage work is highly competitive and we don’t need to tell you that the margins are thin. But what if you could reduce your total labor cost by 8% to 10%? Would you notice the difference? Our partners do. In fact, by doing so, they’ve seen profits nearly double.

How does all of this work? You start by joining the Beneco Plan. Beneco lets you provide your employees with comprehensive benefits and saves money at the same time. This helps our contractors retain quality craftsmen that produce better work. The result: our clients build stronger reputations and businesses over time.

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Client Service Automation

Rothstein Insurance has integrated a client service portal with our website. RISINC has made a significant investment into a new Agency Management System – Nexsure XDimensional. This new platform allows us to better serve our clients and automate many tasks including, allowing clients to create certificates of insurance through their secure portals.

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Semisub One's passengers will have the unique opportunity of viewing sea life through patented glass windows, as they sit submerged in a comfortable and safe setting. During the tour, passengers will also have unlimited access to the vessel's two upper main surface decks, which feature a full bar, lounge, and dining room. www.semisub1.com

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