Today there is a big industry run by lawyers on the side of insurance companies. Injury claims are very common place and there are many lawyers who love to see it grow even bigger. Your business can be sued for right or wrong reasons. The claims can be questionable, total suspect or bordering reasons. It could come from your employees, customers or just some who happened to pass your front door once.
The thing is that you have no idea how to handle them at all. You have no expertise and knowledge. You probably don’t even have a clue where to start and to respond to them or not. What are you going to do, hand them over some money and hope that it is the end of it? They will come with lawyers and threatening letters from them. It is more than likely that you will get scared and start having nightmares.
Besides you have business to run and most small business owners are the main workers in their enterprise as well. They work twice harder and longer than everyone else. They have no time for dealing with claims of any sort. Taking time off your business to devote into responding to these letters and claims may result in troubles for your business.
Then, how are you going to handle the money side of things? Are you going to employ a lawyer or respond to them on your own. Don’t you think you will open up yourself to further questioning and issues if you were to respond to the letters yourself? Is at all possible that your business will go down if you were to pay them? It may be a simple slip and fall but it opens up all sorts of worm cans for you and you are more than likely not equipped to deal with them.
If you have never thought of buying liabilities policies for your business now is a good time. If you had a policy in the above scenario all you would have done is to pass the complaints and letters to your insurers and they would take care of it from there onward. They would look at the claims, negotiate a settlement or fight them in the courts. Whatever happens it will be taken out of your hand.
Besides it may a legal requirement to have these policies in place particularly when you are have employees. You cannot have employees and no liabilities insurance or health and safety procedures in place. This is all pretty funny in many ways. You may employ a professional to work with you in your business. They may know a lot more about health and safety and how to operate the machinery in your business and so on. However, when something happens they will be the poor employees and you would be the cruel employer who hasn’t trained this poor guy properly.
Go and fight it out. There is no chance of winning if you didn’t have the right insurance coverage and proper procedures and notices in place.