From Liberty Mutual’s Website:  Why Responsibility? At Liberty Mutual, we work hard to do the right thing. Just like you. We also know that’s not always a matter of black and white. Welcome to the Responsibility Project, a place to think about—and discuss—what it means to do the right thing.

XactPay Web from The Hartford was developed to provide an integrated workers’ compensation payroll premium billing solution to customers who use QuickBooks payroll. It allows a pay-as-you-go solution to Hartford policyholders. The benefits of the service include:

• Elimination of a large down payment
• No monthly checks to write
• No monthly billing fees
• Calculations based on your reported payroll
• Helps minimize end of policy audit surprises

Here’s How It Works

If you’re already a Hartford Policyholder, use QuickBooks and would like to take advantage of XactPay Web, call or email me and we’ll get the short process started. If you are not a Hartford Policyholder and are interested in XactPay Web, contact me and we’ll go over some options.

Workers’ Compensation

Simplified, this coverage pays for medical bills, rehabilitation and drugs to treat employees’ work-related injuries, as well as lost work time.

Umbrella Insurance

Covers catastrophic losses that exceed the limits of your general liability policy. All companies need this coverage.

Professional Liability (Errors & Omissions) Insurance

Covers claims alleging that something your company did or failed to do on behalf of a customer was in error and cost him/her money or caused harm in some way.

Employment Practice Liability

Covers claims of illegal or discriminatory hiring and firing; sexual harassment; discrimination; mental anguish and other employment-related claims. All companies with at least two employees should have this important coverage.

Accidental Death & Dismemberment

Provides benefits to employee’s family if employee suffers injury or death as a result of an accident. AD&D coverage also pays a certain amount for loss of a limb or certain vital functions as a result of an accident.

Similar to group life insurance, AD&D is offered as Basic or Voluntary coverage and can be paid for by the employer, the employee or shared. Unlike life insurance, AD&D coverage does not pay benefits if employee’s death is due to illness.

Business Owners Policy (BOP)

A cost-efficient bundled policy which should include coverage for Property Damage, Business Interruption and General Liability.

Property Insurance

Covers your physical assets; building (if owned), equipment, furnishings, inventory, computers, valuable papers, records, etc.

Business Interruption Insurance

Covers lost earnings if your business is forced to shut down due to fire, windstorm, explosion or other insured loss. May include coverage of expenses incurred to keep your business operating, such as renting temporary office space.

Comprehensive General Liability Insurance (CGL)

Covers your business assets if your company is sued for something it did or even didn’t do that resulted in bodily injury or property damage to someone else.

Within the CGL there will be coverage for: Bodily Injury Liability, which covers injuries or deaths that happen on company property or arise from your operations. Property Damage Liability, liability for damage to others’ property not in the care, custody and control of the insured. Product and Completed Operations, coverage for bodily injury or property damage to others caused by the company’s finished work or manufactured goods. Advertisers Personal Injury, coverage for lawsuits brought against the company alleging libel or slander as a result of company advertising. Fire Legal Liability, for companies that rent their business property, it protects the landlord against fire damage to the property by the lessee company. Medical Payments, coverage for visitors’ minor injuries sustained while on company property.

Next time I’ll summarize Workers’ Compensation and the other four coverage’s most businesses should have.