Surety Bonds: What You Need to Know

While insurance is a common need for all business, commercial contractors
often have special needs in addition to their insurance coverages.
Whether you are a “typical” commercial general contractor or a specialty
contractor, many of the entities (especially public) you work for may require
a performance and payment bond. These bonds guarantee that the
contractor will perform the work according to the contract to completion and
pay all subcontractor and suppliers. These are typically referred to as
Contract Surety Bonds.

The most important thing to note is that bonds are not insurance products.
Unlike insurance whose premiums are based on expected losses, bonds
are underwritten similar to a bank loan and do not expect to pay a loss.

That’s where the O’Connor Insurance Group can help. We have
relationships with a diverse group of surety markets. We understand what
these markets look for when underwriting your company and can help
guide you through the process. Whether your needs are large or small. We
have the expertise to help you achieve your goals.

What Employers Need to Know about Employment Practices, Sexual Harassment and Discrimination

You’ve seen it all over the news, practically every day.  If not a politician, someone in Hollywood, the food services industry, or a Federal Judge is accused and the list goes on and on.

If someone were to step forward and accuse a fellow employee or manager in your company of sexual harassment, what would you do?  There are definitely guidelines you should begin to adhere to in order to help mitigate any further potential damage.  Hopefully, it is groundless.

Your company should have someone identified to everyone as the person to bring complaints to in complete confidence.  These complaints need to be addressed with the offending party that the allegations are levied against.  There should be anti-retaliation and a strict privacy policy for employees that come forward.  There should be a swift and complete investigation into all allegations.  Documentation is key.  Record everything including all statements given by employee and any witnesses.

Most importantly, you should call your agent to notify them of the possible incident that could give rise to a claim on your Employment Practices Liability policy.  Oh, wait, you don’t have that type of policy?  You need to call The O’Connor Insurance Group, LLC today at 504-262-8900.  You would be surprised at how affordable the premiums are for a policy that provides for not only legal defense should a lawsuit develop but also limits that respond in the event an injured party is awarded money in a court case.

For more information regarding Employment Practices, Sexual Harassment and Discrimination, read this:
Preventing #MeToo in the Workplace: How Employers Talk the Talk And Walk the Walk