Small Business Articles

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In simple terms, legal liability means being "responsible or answerable in law; legally obligated." Businesses can be found liable for a wide variety of actions that affect others, and if they are, they may be required by a court to pay monetary damages to an individual or organization.

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The definition of workers’ compensation insurance is coverage that helps pay costs associated with a work-related injury or illness, including medical care and lost wages. Sometimes called workers’ comp or workman’s comp, it’s often mandatory and protects both your employees and your company if an employee experiences an injury or illness while at work, including strains and sprains, trip-and-fall incidents, or accidental death.

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Workers’ compensation insurance (also called workman’s comp and workers’ comp insurance) provides financial protection for employees who are injured, become ill, or die on the job. In doing so, it also protects businesses.

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Workers’ compensation insurance—also called workers’ comp insurance and workman’s comp insurance—is crucial coverage for every company that has employees. In most cases, it’s required by law.


it’s a common practice and effective strategy in many cases for contractors to hire subcontractors (sometimes referred to as 1099 workers) to handle certain aspects of projects.

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The term advertising agency insurance refers to a set of policies that protect an agency from potentially devastating financial liability and losses. Advertising agencies face many risks—from employee and visitor injuries to property damage and liability for mistakes made. Without proper small business insurance coverage, the consequences of an incident can be crippling or can put an agency out of business entirely.

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When considering, “What is professional liability insurance?”, it is maybe best summarized by another name that’s often used for it: errors and omissions insurance (or E&O insurance). A professional liability insurance definition would say it’s a type of small business insurance coverage that protects you from financial consequences if a client accuses you of not living up to the accepted standards and best practices of your profession. 

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Every small business faces the risk of lawsuits filed by customers or others who claim the company is responsible for damage to their property, personal injuries, or financial harm. Coverage like general liability insurance, for example, can pay for legal costs and also financial damages awarded by the court if your business is found to be liable.

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Commercial umbrella insurance (called commercial excess insurance in New York) gives your business extra financial protection on top of your existing liability policies. This coverage can come in handy, since the costs associated with just one covered incident can easily exceed the limits of a liability policy. Commercial umbrella insurance policies have aggregate limits, typically $1 million or $2 million.