What is liability insurance?  It is the type of insurance that provides coverage for the purchaser if he or she is sued for losses or damages to another person.  However, note that payment is NOT made to the insured person but to a third party that suffers loss or injury based on the insured person’s action or inaction.
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Furthermore, liability insurance does NOT cover contractual negligence on the part of the insured.  In other words, if you do NOT meet your contractual obligations, you cannot expect your insurer to come to your aid.  Lastly, an insured is NOT covered by this policy if it is proven that damages were caused deliberately.

Type Of Liability Insurance Policies

1. Business Liability
Every business runs the risk of causing losses or damages to a third party.  This coverage protects your business from liability claims resulting from your premises and operations, your products and services, personal or advertising injury (libel suits are covered here), medical expenses or fire damage.

2. Employer Practices Liability
If your business has employees then there is the need to have this type of liability coverage to protect your business.  This policy covers your business for various claims by employees (past and current). It includes claims of wrongful termination, sexual harassment, discrimination, negligent evaluation, failure to employ or promote, breach of employment contract, wrongful discipline, mismanagement of employee benefit plans, deprivation of career opportunity and infliction of emotional distress.

3. Professional Liability
This is also known as E&O (Errors and Omissions) insurance.  If you are a professional who may be sued for negligence, errors or omissions in the discharge of your professional duties, then you need this policy type. This will cover you if your advice leads to financial loss to your client, a client is dissatisfied with your service and decides to sue for damages and other related issues.

4. Umbrella/Excess Liability
This type of policy increases the amount of liability coverage for a policy holder.  It is also called personal excess coverage.  People buy it to ensure that lawyers do NOT go after their personal assets when the liability coverage amounts in their home and/or auto insurance policy is inadequate for compensation in a liability suit.

There are other liability insurance policy types like general liability and cyber liability.  Your auto insurance policy normally comes with liability components in the form of bodily injury liability, which takes care of people injured in an accident, and property damage liability, which pays for damages to someone else’s property by your vehicle.

5. Products Liability Insurance
Products Liability Insurance is a type of insurance that provides protection for businesses when their products cause property damage, bodily injury, or death to customers. It helps cover the costs associated with defending and settling claims against your business due to any losses incurred because of a product you have made, sold, or distributed. This includes damages related to design defects in manufactured goods; improper labeling or packaging; inadequate warnings; and breach of warranty. Without this coverage, businesses would be completely exposed in such cases and face devastating financial losses and significant legal fees

So Why Do You Need Liability Insurance?
The answer is simple: We live in a litigious world. People are very quick to claim damages for any action or inaction that they believe impacts them negatively.  You are liable if a dead branch falls off your tree and hits a guest on your property. You are liable if someone is bitten by your dog.  The list goes on and on.
And what happens if the liability amount of your regular policy is inadequate? Any smart lawyer can easily go after your assets in order to get full compensation for his or her client. This means that you need to get the right liability coverage (an umbrella insurance policy) if you have substantial assets and want to keep them safe.

It is on record that 60% of employers are sued each year by their former employees.  Add the fact that communities can easily sue a company for a product, service or activity that has “affected” their lives negatively. Liability insurance is a necessary part of any insurance policy.

Product Liability Insurance is a type of insurance that business owners frequently ignore. When reviewing your policy, business owners frequently rapidly gloss over it. This is likely due to the fact that the Product and Completed Operations coverage is frequently included by default in the General Liability part of an insurance policy. Although sometimes it is EXCLUDED on the policy, so make sure you understand your policy. 
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For whom is product liability insurance necessary?
Most, if not all, businesses need product liability coverage. 

Product liability cases frequently have the potential to be among the worst losses for small companies. This is another reason why small firms should always invest in Business Insurance as soon as they launch their operations.

Our insurance agency's reputation for representing the best insurance companies, providing excellent customer service and competitive pricing to our clients has been earned and proven for over 30 years.  We take great pride in finding you the best coverage and backing it up with prompt personal service.  

Biotechnology is designed to push the boundaries of innovation and creativity. Your work aims to provide solutions to various local and global problems, including overpopulation, food insecurity, disease, climate change, and more. As such, your work is inherently risky and occasionally controversial. Any biotechnology company's risk-management strategy must include biotechnology company insurance. Below, we discuss some of the risks biotech companies may face and how biotechnology insurance can mitigate some of those risks.
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We actively manage threats to the following industries:

• All phases of the FDA's device approval process
• Medications and biotechnology
• DNA facilities
• Healthcare services and products
• Veterinary supplies, equipment, and medicines
• International and national human clinical trials
• Vaccines
• Nutritional supplements
• Drug discovery and development research

Your company, and others like it that serve the life sciences industry, are responsible for the well-being of the people, animals, plants, and environments they serve, and this entails substantial legal and regulatory obstacles. Even a single violation can prevent your products from ever reaching the market. We can help you manage your life science insurance needs covered, no matter what they may be.

Strive Insurance Group, Inc. (formerly Gordon Lund Insurance Agency, Inc) is an independent insurance agency representing many insurance companies.  This means that we quote with many different insurance companies to obtain the best rate and coverage for your insurance.  We do this at no additional fee or service charge to you.  Our insurance agency's reputation for representing the best insurance companies, providing excellent customer service and competitive pricing to our clients has been earned and proven for over 30 years.  We take great pride in finding you the best coverage and backing it up with prompt personal service. 

We represent, and have established a strategic alliance, with only the highest quality insurance companies. In doing so, we can provide you with the service and coverage to meet your dynamic needs. As your needs change, we can review and collaborate to decide which insurance company or companies are best suited to your situation

​A Business Insurance Update
If you think about it, your business faces risks every day.  When you open your doors, you have the risk of having sick or injured employees, customer complainants, and vendors who fail to deliver on their promises.  The world has changed in the past few years and it is important for business owners to make sure their business insurance keeps up.
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Recently a large insurer released their annual business risk index. This index identified the top concerns of over 1,000 business owners.  Nearly half of survey respondents believe that the business world is growing riskier, yet just 24 percent said that risk management was a strategic priority for them.
According to the survey, the top seven worries of today's business owners across all industries are:

• Medical cost inflation
• Increasing employee benefits costs
• Legal liability
• Broad economic uncertainties
• Tech and data/cyber risks
• Complying with laws
• Attracting and retaining talent

Source: Business News Daily
Let our agency help you understand how to manage and treat the risks.  We offer a wide range of highly rated insurers that can offer the necessary products to help you manage you risks.
Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service.

It is critical that every homeowner or business undertakes an annual insurance review. Regular reviews are equally essential to ensuring that your policy continues to be a good fit for your coverage needs and budget.
In a single year, a lot can happen that can have a significant impact on your insurance costs, coverage options, and limitations, among other things. Among these are the following:

• Marrying or divorcing
• Children graduating from high school/empty nest/child off to college
• Beginning a new job
• Recruitment of new employees
• Purchase new commercial equipment
• Establishing a new enterprise
• Accepting elderly parents into your home
• The acquisition or receipt of an ostentatious gift
• Your immediate family member has died
• Mortgage repayment

Is this to say that I must immediately contact my insurance agent whenever I purchase new furniture or a family member moves in for six months? Not always. While more significant changes (such as marriage, divorce, or the purchase of a new car) should be reported immediately, items such as upgrading your home entertainment system or upgrading your sound system can be reported during your annual insurance review.
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Strive Insurance Group, Inc. (formerly Gordon Lund Insurance Agency, Inc) is an independent insurance agency representing many insurance companies.  This means that we quote with many different insurance companies to obtain the best rate and coverage for your insurance.  We do this at no additional fee or service charge to you.  Our insurance agency's reputation for representing the best insurance companies, providing excellent customer service and competitive pricing to our clients has been earned and proven for over 30 years.  We take great pride in finding you the best coverage and backing it up with prompt personal service.  
Give us a call today; we are ready to review your coverage.
 

Businesses in the life sciences industry constantly develop new ways to deliver products that solve problems. Successful medical technology, pharmaceutical, and digital health enterprises write their prescription for success on the cutting edge of progress. Companies on the cutting edge of innovation, on the other hand, run the risk of anything going wrong.

There is no one-size-fits-all "life science insurance coverage" because each life science firm offers a variety of products or services. There's a chance you'll have special or unique insurance needs. A basic commercial insurance program can be expanded to meet some of the specific demands of your company. You will have limited coverage if you merely acquire basic general liability or errors and omissions insurance, but it will most likely not be the correct coverage. That is where Strive Insurance Group can help. We know and understand your industry and can deliver the specialized insurance products you need.  

Top Risks For The Life Sciences Industry

• Supply chain
• Adoption of advanced technologies
• Product liability
• Management liability
• Cyber risk
• New regulations

We understand the challenges in the Life Sciences industry. There are many moving parts, and things can change like the wind. That is why we have partnered with companies that offer industry-specific coverages to meet your unique needs. It doesn't matter where you are in the process right now. Whether it's R&D, clinical trials, or maybe you've already developed that game-changing medical device or drug; we want to help you with your 

Life Sciences Insurance. 
We can provide risk and insurance solutions to help you manage these and other important risks facing your business.
 

Why is it important for biotech and life science companies to have insurance? Businesses in the life sciences and biotechnology industries use costly equipment and materials, which exposes you to dangers such as:

• Regulations that are quite strict
• Interruptions in the supply chain
• Injuries to patients
• Product or sample loss, recall, or spoilage are all possibilities.

Working in the biotech business necessitates the use of costly machinery and delicate materials. Having life science insurance protects your property on the job, from the facility you rely on to the gear you employ. As a result, life sciences insurance should be a key component of your risk management strategy.
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A Business Owner's Policy can help biotech companies and other businesses in the life sciences industry (BOP). This policy combines three types of company insurance into one simple package:

• Insurance for general liability
• Property insurance for businesses
• Insurance for business revenue
• By combining these coverages, you can safeguard your life sciences company while also saving money.

Contractors insurance policies range significantly in terms of what they offer. Most will have a business owner's policy (BPO) that will provide:

• General liability insurance
• Workers' compensation insurance
• Commercial vehicle insurance
• Other insurance products you need

 
Why Do I Need Liability Insurance?
Good liability risk management can reduce the chances that your business will be sued, but it can never eliminate the risk entirely. You or a member of your organization can make a mistake that injures someone or damages property. Your mistake could harm the reputation or interfere with the privacy of a customer, client, competitor or member of the general public. When such injuries occur, you may be legally liable to pay damages to someone who suffers a loss due to your actions or inaction.
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Everyone in society has a duty to take reasonable care that his or her actions do not injure others. The same rule applies to business entities. Not repairing a pothole in a parking lot, not lighting a dark stairway, failing to train workers how to do their jobs safely and legally or failing to provide directions for the safe use of a product can constitute negligence if a client, customer or member of the general public is injured as a result. The legal meaning of negligence is failure to exercise reasonable care.

The law of the state where the lawsuit is filed sets the rules for the determination of liability and damages. The amount of damages imposed in any particular case is, of course, in part a function of the economic losses the plaintiff can prove he or she has endured due to the defendant’s negligence. In some states plaintiffs may also be awarded damages for.

What Kind Of Liability Policy Should I Get?
For small businesses the most efficient and least expensive way to purchase liability insurance is usually as part of the Business owners Policy (BOP) which combines property and liability insurance in one contract.

Your liability insurer will pay damages that you are legally obligated to pay as a result of “bodily injury,” “property damage” or “personal and advertising injury,” up to the policy limits and subject to your deductible. Punitive damages are generally not covered, although there may be some exceptions.
 
Bodily injury means injury, sickness, disease or death; it may include injuries that are emotional or mental, such as post-traumatic stress syndrome or humiliation.
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Personal and advertising injury includes libel, slander or any defamatory or disparaging material or a publication or utterance in violation of an individual's right of privacy; infringing the privacy or copyright rights of another in your advertisement; wrongful entry or eviction, or other invasion of the right of private occupancy; and false arrest or wrongful detention.

Who Is Insured?
BOP liability coverage insures a sole proprietor, partners or partners named in the policy "Declarations," but only with respect to their duties on behalf of the business. The spouses of sole proprietors or partners are also covered. If your organization has officers and directors, they are insured, as are your stockholders, but, once again, and this applies to all parties, only with respect to their duties or liabilities in connection with the business. Employees and volunteer workers are insured for acts committed within the scope of their employment in your business.

​As football season starts and fall is here, it is an excellent time to think about your insurance and any changes you might need to make. Having the right personal insurance is important in that it protects you and your family in the event of loss, damage or accidents. The number of insurance claims varies according to the season. The fall season offers new forms of hazards and new patterns in personal insurance claims, along with the falling leaves and reducing temperatures.

Here Are A Few Types Of Insurance You Might Think About
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Auto Insurance, we assist you in obtaining coverage according to on your needs, driving habits, geographic area, budget, and other factors. The following are some coverage protection choices to consider during the fall and winter months.

• Roadside assistance
• Towing coverage
• Accident forgiveness
• Snowmobile insurance

Home Insurance, as local independent insurance agency, we are always willing to walk you through the measures necessary to secure your home. Your agent can assist you in reviewing coverage alternatives during the fall and winter months.

• Earthquake or flood insurance
• Loss of use coverage
• Property away for your premises
• Sewer back-up

Fall Safety Tips
As the weather cools and the leaves begin to fall from the trees, it's vital to remember a few important fall safety tips. Your family may enjoy the crisp fall weather while avoiding some of the dangers that come with the season if adequate precautions and safety knowledge are taken.

• Service your furnace and AC units
• Clean your gutters
• Inspect four fireplace
• Clean up trees and shrubs around your home
• Inspect your rook for damage
• Use Caution with Space Heaters

Be sure to speak with an insurance agent or broker about your coverage and additional things you can do to check your home and property for seasonal liabilities.

​Recent surveys by human resource managers have identified a number of workplace issues facing employers and employees. These problems affect the work being done, employee morale, and overall company performance. Take a look at the top five workplace issues and see if your company faces any of these.

1. Lack of Training- Many workers state that most employers do not offer any “real” job training. Even many new employees are not trained on the firm’s communication systems or account management systems. Most employees get sent to a desk and that’s it.
2. The Right Tools- The average employee uses over 10 different tools to perform daily tasks. Make sure employees learn how to use new tools and know how the old and new tools work together. Then, make sure employees are actually using the tools to do important work.
3. Emergency...What Emergency? - Today more than ever employers need to develop, communicate and plan for emergencies. Emergencies can include a natural event, security issue, or public health concern. Take the time to develop a plan of action to get people out of the facility and to account for everyone.
4. Lack of Safety Procedures – Does your firm have written safety procedures for each job function? If not, you may be missing out on a more productive workforce. Studies show that employees, who have a clear understanding of the job including how to do it safely, perform better.
5. Discrimination in the Workplace – Believe it or not, discrimination is a big issue with many workers. Legal protection against discrimination on the grounds of disability, sex, and race is now well established in the workplace.  Age discrimination, however, remains a significant problem at work.   A recent Chartered Institute of Personnel and Development (CIPD) survey revealed that 59% of employees believe they had been disadvantaged because of their age. It is estimated that age discrimination costs the economy between 19 billion and 31 billion a year in lost output.

Take time and score how your firm may be doing in these areas.
Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984 (formerly Gordon Lund Insurance). Don't worry, nothing has changed, but our name. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service.