Working as an attorney comes with a great deal of responsibility. Whether you are a lawyer who specializes in business matters, criminal defense, or environmental law, you need to make sure that you are always following the right guidelines of your profession. There is a code of conduct that attorneys absolutely must follow at all times. Established by the state bar, these rules help to define a lawyer’s professionalism and reduce the odds of personal legal troubles arising from a simple error.
The Preamble and the Scope
The beginning portion of attorney professional responsibility is typically referred to as the preamble. It is here that the main purpose of an attorney is defined. How those who walk this path in life are bound by honor to commit to their roles and fulfill their duties to the greatest extent of their abilities. The preamble also establishes the many rules and conduct codes that lawyers must follow. After the preamble comes the scope. It is within the scope that the importance of the rules is explained at length. Main points of the scope tend to include:
- How lawyers are protected under the law
- The critical importance of one’s reputation
- The severity of breaking these guidelines
Follow the Rules at All Times
While an attorney must live up to specific expectations in order to see a fulfilling career, it is not difficult to do what is asked of you. Avoid complicated legal troubles by always staying on top of your professional responsibility.
If you are a business owner looking for alternatives to standard insurance, you may consider captive insurance. This insurance is owned and managed by the entities it insures, giving you greater control when it comes to managing your own coverage.
A Tried and True Option
Owning your own insurance company may at first sound like a niche idea, but it’s relatively common practice. These companies can be established in over 30 states, and roughly 40% of all major American corporations use some form of captive insurance.
A Wide Range of Coverage
If your business has unique risks, or has difficulty finding insurance due to certain liabilities, an insurance captive might be the solution. They can help you cover these special liabilities in addition to providing all the same coverage as standard insurance, including things like auto coverage and workers’ compensation.
A Long List of Benefits
In addition to the reasons above, there are many other benefits associated with using an insurance captive. This type of insurance offers flexibility in coverage while still providing all services in one single, easy-to-control company. It can also lower your insurance costs.
Initially, setting up captive insurance may seem intimidating. However, this type of insurance is well-established in the United States and can provide many benefits for your company. Many businesses are turning to insurance captives for a wide variety of reasons, and your business could join them.
Most employers offer benefits to their employees. Most employees expect benefits. What happens if errors are made during the administration of benefits? An Employee Benefits Liability insurance policy or EBL policy might be the answer.
Protections Offered With EBL Policies
Employee Benefits Liability coverage is a type of coverage that protects against errors and omissions during the administration of benefits programs.
Sometimes enrollment errors occur or an employee’s coverage may be accidentally canceled. If the employee has to pay out of pocket for benefits that he or she should have received, then you can count on the liability coverage to handle that. Any errors in recordkeeping or bad advice can lead to lawsuits.
Types of Benefit Programs Covered
When customizing your EBL policy, your policy must cover the benefits that you offer. Some of the common benefits covered by an EBL policy include:
- Life insurance
- Profit-sharing plans
- Pension plans
- Disability benefits
- Employee stock benefits
- Health insurance
- Dental insurance
- Workers’ compensation
As with any type of insurance program, there are exclusions and limits. Make sure that you understand the coverages offered, your benefits and the exclusions of your policy.
Even if you do your best to avoid errors, they can still happen. If you offer benefits to your employees, you have to be prepared. When it comes to risks, your best safety net is insurance coverage.
Restaurants are notorious for being fast-paced, constantly changing work environments that require all employees to be on their toes at all times, but as a manager, you face an even greater responsibility in terms of risk management. Handling restaurant risk management involves plenty of moving parts and can seem overwhelming, but being aware of some of the most common risks can help you stay focused.
Add Multiple Risks to Your Radar
One of the toughest parts of restaurant risk management is that you have to keep an eye on multiple factors at once. Some common scenarios you may face include:
- Slow turnout due to an economic downturn
- Poor online reviews harming your image
- Employee expenses rising
Keep an eye on these issues and reassess them frequently to ensure you’re on the right path.
Understand the Role of Technology
You likely have already seen how advances in technology have had positive and negative effects on your restaurant. While some tech-savvy tools may help you track your expenses better, for instance, be aware that they always carry a risk of glitching or having computational errors. It may be necessary to check automated calculations again by hand to be certain of their accuracy.
No matter the type of cuisine your restaurant serves, proper restaurant risk management is key to ensuring smooth operations and an enjoyable experience for your customers. With these common risks on your radar, you can stay vigilant and successfully manage your restaurant.
Hiring a new employee is both an exciting and nerve-wracking task. Although you hope to find someone with integrity who will catapult your company to new heights, that is not always the reality. As technology advances, it’s becoming increasingly easier for employees to commit crimes in the workplace. Being aware of potential crimes is the first step toward ensuring you and your company remain protected from internal threats.
1. Theft of Funds/Property
The most common workplace crime involves an employee stealing money or property from an employer. This ranges from petty theft of cash register funds or small property to embezzling tens of thousands of dollars. Though coverage varies, many insurance companies will protect against this occurrence both inside and outside of the premises of the company.
2. Forgery and Alteration
Employees are not always who they claim to be. Some employees forge checks, money orders, or other important documents. Because of its seeming legitimacy, alterations are often harder to detect and fly under the radar for long enough to cause irreparable damage to your company.
Though fraud has existed forever, employees are now becoming bolder and more creative with the ways in which they commit fraud. Technology has made it much easier for someone to hack into your company’s records, steal crucial data, or redirect funds into their own account.
Unfortunately, there are a number of ways employees can take advantage of you and your business. There are also, however, ways to help ensure that you are covered if you find yourself the victim of employee theft and dishonesty. Crime insurance claims can protect your company from the chaos that ensues when an employee does you wrong.