CHASE LAW NAVIGATOR

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INSURANCE

Businesses need insurance of all kinds.  In many cases, paying outright for legal issues is not feasible for businesses.  Therefore, the insurance needed must be customized for each business to meet its needs, dependent on various factors including level of risk.

COMMERCIAL PROPERTY INSURANCE

How does commercial property insurance protect businesses?


If stolen, damaged or destroyed, business property insurance can help cover the costs to repair or replace business property. It can also help protect you from a variety of claims against your business. Learn more here.




I am a tenant, do I need to insure my landlord's building?


Whether you are required to insure your landlord's building is a matter of contract, which you should negotiate before going into a lease. If you rent your facility, you will need to know this because you do not want to be liable for something and also be uninsured. Learn more here.




I am a tenant, do I need to insure my business personal property or will my landlord's policy cover such insurance.


Whether your personal commercial property inside your landlord's building is covered by your landlord's policy is a matter of contract. You will need to read your lease or speak with your landlord. An attorney can help you negotiate the terms of your lease to determine who holds each policy and who indemnifies who. Learn more here.





HEALTH INSURANCE

Am I required to provide Worker's Compensation insurance for employees?


If you have employees, yes. If you do not pay for or do not have Worker's Compensation, your company will be liable dollar-for-dollar for any successful claim for a workplace injury. Learn more here.




What will happen if my worker's compensation insurance policy is used in the course of business?


Generally, the more you use your policy, the more your policy will cost you. Learn more here.




Who administers Worker's Compensation?


In Ohio, the state administers worker's compensation insurance. In Kentucky, businesses must find a private insurance company to administer its policy. Learn more here.





LIABILITY INSURANCE

How can I be sure that I have enough liability insurance for my business?


It's best to talk to an agent (one or more) about how to determine the proper amount for liability insurance depending on your industry and the risks that are associated with the work you do. Learn more here.




Will liability insurance protect my business from data/security breaches?


Generally, data breach or cyber security insurance is separate from general liability insurance. If your company is dealing with sensitive customer information and payment types, it would be a good idea to talk to your insurance agent about cyber insurance. Learn more here.





OTHER TYPES OF INSURANCE COVERAGE

How can I be sure that I have enough liability insurance for my business?


It's best to talk to an agent (one or more) about how to determine the proper amount for liability insurance depending on your industry and the risks that are associated with the work you do. Learn more here.




Will liability insurance protect my business from data/security breaches?


Generally, data breach or cyber security insurance is separate from general liability insurance. If your company is dealing with sensitive customer information and payment types, it would be a good idea to talk to your insurance agent about cyber insurance. Learn more here.





WORKER'S COMPENSATION INSURANCE

Am I required to provide Worker's Compensation insurance for employees?


If you have employees, yes. If you do not pay for or do not have Worker's Compensation, your company will be liable dollar-for-dollar for any successful claim for a workplace injury. Learn more here.




What will happen if my worker's compensation insurance policy is used in the course of business?


Generally, the more you use your policy, the more your policy will cost you. Learn more here.




Who administers Worker's Compensation?


In Ohio, the state administers worker's compensation insurance. In Kentucky, businesses must find a private insurance company to administer its policy. Learn more here.