Small businesses need suitable types of insurance to protect assets against damage and legal claims. While most business owners hope they’ll never have to rely on insurance, the truth is, it’s an essential investment. It could make the difference between closing up shop and healthy business longevity.
Workers’ Compensation: This coverage is required in most states since it was instituted more than 100 years ago as part of a ‘grand bargain’ between employers and employees. Workers’ compensation coverage exists to serve as employees’ remedy for work-related injuries or illnesses. In exchange for this guarantee of coverage, employees waive their right to sue employers over workplace injuries.
Cyber Liability: This provides liability coverage in the event a third party sues a business over damages incurred from a data or privacy breach. There’s also First-Party Cyber Liability which provides coverage for damages or costs incurred by the insured to investigate and remediate the breach.
Employment Practices Liability: This particular coverage is designed to protect a business and its management personnel if it’s sued for wrongful termination, discrimination, harassment, hostile work environment, invasion of privacy, breach of contract, emotional distress, or wage and hour violations.
Other types of liability coverage include: property, automobile, product, professional, general, and even errors and omissions if you happen to be in the media industry. Each type of coverage is unique for each small business, so it’s important that you talk with a professional to help protect your business. If you’re a small business owner, give us a call today at (540) 720-5656.
Amy Anderson joined the ILG Financial team in 2023 as the client relations coordinator. Her responsibilities include scheduling of appointments, annual check-up notifications, and annuity and required minimum distribution assistance. She is a graduate of Harding University with a degree in Computer Information Systems. Amy and her husband have two children and she enjoys reading, crocheting, music and spending time with her family.
Chase Lopez joined the ILG Financial team in 2020 as an advisor. Chase is a 2016 James Madison University graduate with a degree in management. Chase has been trained under the tutelage of Dave Lopez, who is not only the founder and managing member of ILG Financial, but also is Chase’s uncle and godfather. He also enjoys working alongside his cousin, Megan, who is Dave’s daughter. Chase, as a fiduciary, believes in putting his clients interests first, and building out plans for his clients where they can have a happy and fruitful retirement. He married his beautiful wife in February 2022 and both use most of their free time chasing around their little pup, Aurora.
Jessica Carson joined the ILG Financial team in 2018 as an agent. Jessica and her husband have four children, two dogs, 3 barn cats, 5 chickens, and three parakeets. She indeed loves her children and pets! When not at work, Jessica enjoys playing the piano and cello as well as traveling and spending time outside with her family, hiking, fishing, and boating.
Terri Center joined the ILG Financial team in 2019 as client services manager. She handles client records, application processing, and gathering information to provide a professional and friendly experience with all of our clients. Terri is a graduate of Oakland University. She is married and has two children. She enjoys hiking, family time, and puzzle challenging video games. She also likes to share her creativity in her canvas paintings and sewing projects.
Megan Jones joined the ILG Financial team in 2020 as marketing director. Megan and her husband live in Fredericksburg, VA with their German Short Haired Pointer, Gus. Megan is a graduate of Longwood University and holds a degree in communications. Megan is the oldest of Dave Lopez’s three children and not only enjoys working alongside her father, but also with her cousin, Chase, who joined the ILG Financial team in 2020 as an advisor. When not at work, Megan enjoys sitting on the back porch with family and friends enjoying food and music.