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Let Us Help You Get the Right Business Insurance With This YEC Members-Only Benefit

Any business that has equity or deals with customers needs insurance. Vetting the right broker is difficult, and even then you want to make sure you're getting a good deal. At YEC, we do the work for you. To connect now and get your specific needs met, contact me at beth@yec.co.

(Note: This benefit is for YEC members only. Click here to find out if you qualify.)

Change happens fast when you own a business, and that's why it's a good idea to re-evaluate the kind of business insurance you have in order to make sure it matches those changes. Maybe you've grown, shrunk or hired new employees. Simply renewing your plans from the previous term may open you up to problems down the road. That's why we have insurance partners to help you get the right coverage.

Depending on your business type and how many employees you have, there are a variety of insurance types that might make sense. Below are some of the most common types of insurance that our members use.

General Liability

A lawsuit is the last thing any business wants to deal with, but it happens — and often when you least expect it. Most companies need general liability insurance, which covers bodily injury, property damage and personal injury.  This could be anything from computer theft to accusations of slander.

Who it is for: Any business that wants to keep its assets from becoming vulnerable in the event of a lawsuit.

Professional Liability (AKA Errors & Omissions)

Professional liability insurance covers charges related to the delivery of services or negligence. Businesses may opt for this type of coverage in order to protect against claims of inaccurate advice or failure to perform services. This could include anything from the loss of client data to copyright infringement. Say you sell software to a client and that software either fails or does not perform as advertised. If your client experiences financial loss because of this failure, you could be at risk.

Who it is for: Businesses that offer professional and personal services, such as consulting, accounting, construction, medical services, etc.

Cyber Insurance

Losing sensitive data is expensive. According to a study, the average consolidated cost of a data breach has risen 23 percent since 2013. Cyber insurance protects against cases of theft, loss of data and security breaches.

Who it is for: Virtually any company that handles private client information or has a website.

Directors and Officers Insurance

Officers make mistakes. It's only natural considering both the sheer number of decisions and the complexity of such decisions they make on a daily basis. D&O insurance makes it so that directors and officers are not personally liable (whether criminal, civil or administrative if something goes wrong).

Who it is for:  If you have investors, a board of directors or advisors, likely, they will require you have D&O.

Employee Practices Liability Insurance

EPLI covers businesses against employee claims of wrongful termination, discrimination, sexual harassment, inappropriate workplace conduct or even failure to hire.  

Who it is for: It's a good idea for any company with employees to have this in place. Mistakes happen in HR, and even if they don’t, you’d be surprised out how far an employee could take a seemingly simple miscommunication.

It's good financial practice to evaluate your policies at least once a year to make sure you have the coverage that you need, and we can help you organize a free audit.

If you want to explore any of these options, contact me at beth@yec.co.

(Note: This benefit is for YEC members only. Click here to find out if you qualify.)