Choosing the right business insurance is one of most important decisions you make as owner of your company. You need business insurance, also known as commercial insurance, to help cover the costs of any property damage or liability claims that may unexpectedly occur. Without it, you might have to pay out of pocket, which could be financially devastating depending on the nature and extent of an incident.
Business insurance is available in the event of a catastrophic natural disaster or when you’re faced with a claim or lawsuit against your company or employees. In almost every state, a certain amount of insurance must be held for employees. Examples include workers’ compensation, unemployment and disability insurance, with specific requirements varying by from state to state.
Selecting Business Insurance
When selecting business insurance coverage, think about the important aspects of your operations that need protection, such as:
- The type of work you do.
- Your physical premises.
- Your property and equipment.
- Your intellectual property.
- Your employees and customers.
And remember, as your business grows, your insurance coverage needs may change.
Choose the Right Insurance Partner
There are many varied options for business insurance, so be sure to find out exactly what and how much coverage you need. A professional employer organization (PEO) partner like Lyons HR can help tailor your insurance protection to the specific risks that could potentially face your business.
In January of this year, Aligned Holdings, Inc., a member of the Lyons & Company. Inc., group of companies, and Calhoun County Insurance Center, Inc. (CCIC) launched Aligned Insurance, Inc., a joint venture between the organizations. It operates under the name Aligned Insurance Agency (AIA). AIA’s management office is located in Gadsden, AL and the company also has locations in Jacksonville and Rainbow City, AL.
CCIC has served clients in Northeast Alabama and surrounding areas for more than 50 years from its Jacksonville site. It opened Coosa Insurance in Rainbow City in 2016.
At the time of the Aligned Holdings/CCIC joint venture announcement, Lyons HR President Bruce Cornutt noted that “we’ve known that synergies exist between an insurance agency and our other company interests” and added that this venture would provide “a broader scope of services for all of our clients.”
Lyons HR is a PEO founded in 1995 in Florence, AL, with 10 operations centers serving hundreds of clients and thousands of workplace employees across the United States. Lyons is accredited by the Employer Services Assurance Corporation (ESAC), a distinction earned by only about 5 percent of all PEOs, and is accredited by the Internal Revenue Service (IRS), giving clients the greatest security and assurances available in the employment industry.