Being a business owner is about ensuring profitability and growth and protecting your business from lawsuits. Companies get sued for many reasons, one of the most common being an injury inside the business or on its property. Such lawsuits can be devastating financially and lead to a ruined reputation that can take a long time to repair. Preventing injuries helps you avoid personal injury lawsuits, and knowing what to do in case one is filed is critical.
Get Business Liability Insurance
Before taking other steps to protect your business from personal injury lawsuits, ensure you have the right insurance. General liability insurance, sometimes called business liability insurance, is a must for all businesses, including those in areas where the local government does not require that they have it.
When someone is injured on your property, the insurance company will cover any expenses, including payments for potential settlements. If you do not have the right insurance, the business has to pay from its accounts, which can be devastating depending on cash flow and the business’s financial standing at the time of the suit.
Remember that the monthly or annual premium for such insurance will always be lower than any amount you would have to pay in case of a suit if you do not have it.
Have The Right Auto Insurance
Businesses should also get the right commercial auto insurance. This type of insurance covers any vehicles used or leased by the business and driven on public roads, and also its drivers. It can also include liability coverage, where liability arises from damage caused to other people and property. As with business liability insurance, you should get it even if your state or local government does not strictly require it.
The other way to protect your business from these lawsuits is to remove risks that lead to accidents. The most common type of injury in the workplace or a business is slip and fall accidents, which are reasonably easy to prevent.
To start, ensure there are no obstacles anywhere people walk. For example, there should not be any chairs where people walk in restaurants. Second, mark all dangerous spots. Let’s say a worker is cleaning the floor, which is not yet dry. They should place a sign telling people the floor is wet where they can easily see it. The same goes for any construction work in any part of the business and the surrounding area. Always provide warning signs and use tape to cordon off an area.
Lastly, understand that the business is responsible for accidents in its parking lots. Businesses should keep an eye on their parking lots to ensure they are as safe as possible. The best way of doing this is to get the parking lot repaired regularly, which entails getting seal coating and parking lot repair services from reputable companies. Businesses that need parking lot repairs should check out the parking lot repair and seal coating services from a company like https://mcconnellassociates.org/asphalt/maintenance-sealcoating-services/ to ensure their parking lots are safe for everyone who uses them.
Do Regular Checks
It is not enough to do safety checks a few times since things can fall apart when you are not looking. A business owner or manager should do thorough checks at least once a month, but they should always be on the lookout for something wrong whenever they walk through the building.
They should check that all lights are working and that all electrical systems are safe and up to code. Always ensure there are no hazards like dangling lights or wires that could lead to issues down the line.
Carry Workers’ Compensation Insurance
In most cases, workers’ compensation will handle any injuries that employees suffer in the workplace. However, there are exceptions to this rule. These exceptions include when:
- The injury is intentional
- The injury was concealed fraudulently so it would not be tied to the business
- An employee is injured in a capacity other than being an employee
- The business does not carry workers’ compensation insurance.
Regular training sessions can help businesses avoid the first three exceptions, but they must have workers’ compensation insurance to avoid the fourth. The personal injury lawsuit in such circumstances is treated like any other case, with the business having to pay or relying on its liability insurance to handle settlements if the business is found guilty.
Conduct Regular Training
Training can reduce injuries to both employees and customers. Businesses should arrange regular training sessions to ensure everyone remains safe.
Protecting your business from personal injury lawsuits is easier than many people think. Putting a few practices in place will help. However, always have a lawyer’s contact information so you can contact them immediately if an issue arises.