Many think that operating a small business has little or no risk. The fact is, operating a small business has just about the same risks as any other business. Employees can still sue you, you can cause injuries to your customers, and your building can burn just like a big business. General liability risk is very real for small businesses and it is important to have a business insurance program that addresses these issues.
To protect a small business from potential lawsuits, liability insurance is necessary. Policies vary greatly, and they cover different classifications of risks for varying costs.
Commercial General Liability Insurance covers claims from accidents, injuries, or negligence when the business is at fault. Small businesses may face a wide array of damage charges. Personal injuries, property damage, libel, and slander are just a few examples.
Product Liability Insurance covers legal fees for litigation involving a faulty product. It also covers any personal or property damage charges caused by the defective product.
Employment Liability Insurance provides protection for an employer against claims made by employees, former employees, or potential employees. It can cover discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations.
Professional Liability Insurance pays for damages caused by services. It is also called errors and omissions coverage. This is for companies that market a service instead of a product. For example, professionals in medical clinics must have medical malpractice coverage.
Cyber Liability Insurance covers the risk posed by conducting business over the Internet, over other networks, or using electronic storage technology. It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.
There are other types of insurance designed for specialty businesses. For example, there are special policies for companies involved only in internet sales. The nature of the business determines what type of coverage is necessary.
TWFG-Khan Insurance specializes in writing commercial insurance for small businesses and mid-sized corporations.
With our advanced understanding of day to day business risk and access to over 600 insurance carriers, we bring to you some of the best risk transfer programs available.
As a locally owned and operated insurance agency in Pflugerville, Texas, TWFG is committed to providing quality insurance products for individuals and businesses. We combine our strong insurance background and product knowledge to assist both current and future clients manage and plan for all types of potential risk.
Our team of knowledgeable insurance professionals is experienced in creating personal and commercial insurance policies designed to fit your needs. With TWFG, our friendly staff will work with you on a one-on-one basis to develop not only the perfect policy, but a lasting relationship.
Winter is often the most sickly time of the year with folks suffering from colds, coughs, sniffles, achy joints and cold sores. There are many reasons blamed: confinement with others, cold weather, depression, stress, weak immune system or lack of exercise. Depending on whom you ask, all of them can be a part of the problem.
Here are some guidelines for winter wellness.
Eat healthy and don’t over indulge. A healthy diet will keep your gut microbiome in order, preventing harmful bacteria from taking over. Consuming lactic acid consuming bacteria naturally found in raw food like fruits and vegetables support gut and respiratory health. Consumption of traditional comfort foods high in glucose causes oxidative stress in the blood and compromises your immune defenses. Eat plenty of leafy greens, beans and citrus.  In addition, including your own sprouts of alfalfa, broccoli, lentil and red clover in your daily diet are extremely beneficial. Don’t forget garlic, “nature’s penicillin,” which has been used to fight infections for thousands of years. 
Get more sunshine. It’s easy to stay inside during winter. Get outside often, dressing appropriately, it will make you feel better, stimulate your metabolism (your body burns more calories keeping warm), and enhance your absorption of vitamin D. Remember to be careful about excessive exercise. It can be bad for your heart. Use a small shovel, and move small amounts of snow at a time. Take any chest pain seriously and seek medical help immediately. 
Manage your stress level. Winter activities and obligations can get overwhelming. Spend sometime alone in meditation. It will help you refocus and be more mindful of your blessings. 
Keep up your fluid intake. Avoid dryness both internally and externally. Apply extra lotion, moisturizer, turn on that humidifier you cleaned whenprepping your home for winter, and drink lots of water. Include herbs in your water like lemon and mint, use a straw and limit your alcoholic drink consumption. 
Practice standard hygiene techniques. Cover your cough with your arm, wash your hands, gargle with salt water, and discard used tissues. Limit the length of time you spend closed up with other people. Steer clear of those you hear coughing and hacking.
Consider herbal supplements to stimulate your immune system. Herbs like elderberry extract can be a preventative tonic,  oil from peppermint will open sinuses and help some headaches,  sage mixed with honey helps sore throats. 
Find ways to serve others. When you change the vibrational rate in your body, by focusing on positive gratitude, it creates a dynamic energy and powerful healer. 
Get plenty of sleep. Nothing restores the body more than getting seven to eight hours of sleep a night. Immune cells are most active during the sleep cycle.  Good sleep banishes depression, curbs junk food cravings, eliminates extra amounts of cortisol, the stress hormone, and burns calories. 
Does a flu shot work for you? Flu symptoms include fever, chills, and body aches. You can catch it by droplet transmissions from up to 6 feet away. If you get sick, stay home don’t spread it around.
Alll of us at TWFG Khan Insurance Services-713-388-6681 wish you Happy Holidays and a Happy New Year!
Business Insurance Coverage That You Might Be Missing
Insuring your building is one of the most important decisions you make as an owner. In the event of a loss, having the right kind of insurance will be critical in recovery and resuming your business operations. Over 40% of businesses that suffer a total loss never resume operations. If these businesses had purchased the right insurance they might have been able to resume operation.
No two businesses are alike. We can offer coverage options and tailor coverage specifically for your business’s unique needs. Companies frequently purchase commercial property insurance as a part of a Business Owner’s Policy.
We wanted to provide you with a few coverage options that you may not have considered.
Having enough business income and extra expense coverage. In the event of a covered loss, your commercial property insurance can provide funds for lost income, and extra expenses to help in the recovery. All too often, these are not reviewed on a regular basis.
Property managers need to make sure all tenants have provided proof of commercial insurance. Check these annually.
Increased cost of construction for building codes is often overlooked. If your commercial building is over five years old, you may have a risk due to new building codes that might increase the value of your building.
Requesting your property policy to have 100% agreed amount valuation. Having an agreed amount will eliminate any coinsurance.
We specialize in providing insurance for office building owners, apartment owners and commercial building properties. Our experienced staff understands the challenges and concerns that building owners face every day, and work with you to provide the best coverage at the best possible price with the best service.
Enhance Your Policy With Some of These Options:
Employment Practices Liability can cover your business if discrimination, sexual harassment or wrongful termination claims are made by present, former or future employees.
It is that time of year to set goals, review your business plans and look forward to a prosperous 2020. Part of your planning should include an annual California business insurance review. Your business changes, and so do your exposures. After you review some of these items, call our office and we will be happy to discuss these and more with you.
Why Complete a Business Insurance Review?
Your exposures may have changed.
Laws and regulations may have created new liabilities.
Your policy may have had small changes that require consideration and adjustment.
You may have too much coverage or to little coverage.
Items to Consider When Completing a Business Insurance Review
1. Review sales and revenue- Have your company’s annual sales increased or decreased? The more business you do, the greater the potential liability you face.
2. Property Values- Have you added any new equipment, purchased or leased a new building?
3. Have you considered the following coverage?
Directors & Officers Liability
Earthquake, Flood or Wind Insurance
Umbrella or Excess Liability
4. Did you purchase any new vehicles?
5. Do you have any foreign travel plans in 2020?
6. Do you sell any of your products in foreign countries?
7. Is your safety and loss control program up to date?
8. When was the last time someone reviewed your SIC codes for accuracy?
9. Are you serving any new industries? This might increase your liability.
10. Have you added any new partners? There might be a need for life insurance.
As a business owner, you can ensure that your company is protected by keeping your general liability insurance, workers’ compensation insurance and commercial auto policies updated to reflect changes in your business. Call us today. We can help you design the right combination of coverage and price.
Protect what matters most to you with Houston, TX. Commercial & Business insurance. We offer the best combination of competitive rates, coverage and personal service in Houston.