You Need Insurance Regardless of Your Business

While it might be comforting to think that insurance is something that only the big companies need to worry about. Insurance is something that all businesses need to worry about. Indeed, the smaller you are as a business, the more vulnerable you are to a wide array of risks that can only ultimately be dealt with by adequate business insurance protection.

When you run your own business, you take on obligations and responsibilities above and beyond that of the average citizen. In fact, it can be seen as somewhat of a double-edged sword. On the one hand, you probably go into business hoping to make a profit doing something you love while providing a benefit to others. On the other hand, all those others are affected by what you do — good or bad. It’s the latter that can get business owners into trouble if they don’t seriously think about serious business insurance protection.

Let’s take small business liability insurance as an example. Without this form of insurance protection, a business owner is putting themselves in unneeded and unnecessary financial risk.

Small business liability insurance is that which essentially protects a business from the threat of a lawsuit. It differs from other kids of protection many individuals might already be familiar with because it covers assets from the risk of being attacked by a claim of misconduct carried out by you or your business. If somebody decides to sue your business, not only could you be on the hook for the damages awarded, but the legal fees involved can often be staggering, even if the lawsuit is frivolous. Things like small business liability insurance, as part of a comprehensive business insurance package, are meant to deal with just such instances.

If you don’t think that your business is at risk like this, you might want to reconsider. No business is too small or irrelevant to be untouched by the risk of a lawsuit. In fact, the smaller you are, the less you’ll be able to count on your own resources to address the crisis of a legal proceeding, or the damages awarded as a result.

Perhaps for no sector of business is this reality more apparent than with small offices providing services of various sorts. While the amount of resources at your disposal is tight, the extent to which you may have an impact on the public is very considerable. And the extent to which that same public can come back and bite you can be similarly considerable, too. This goes for real estate professionals, management consultants, tax preparers, lawyers, doctors, and so on. No one is immune from the threat covered by business insurance that includes things like small business liability.

No matter how competently you think you run your business, how much emphasis you place on customer satisfaction, how well thought of you are in the business community, or the lengths to which you strive for excellence and achievement in your profession, you can be hit by a lawsuit. And, very often, you won’t even have seen it coming. Even some service provided as a sub-contractor for someone else can be seen as having done harm to someone. If that someone decides to sue, there are costs that have to be covered. Good business insurance will cover it. More specifically, good small business liability insurance will cover it.

Let’s take the management consultant industry as an example of where business insurance that includes small business liability is necessary.

The duties and responsibilities associated with the job of being a management consultant are considerable. In such a capacity, you use your expertise in the field of management to advise people professionally on a whole range of matters related to the proper running of a business. This can includes things as simple as staffing to something more sophisticated like public relations. Good management consultants provide a professional service noted for the extent to which comprehensive solutions are offered to meet challenging business environments.

This is precisely why management consultants need to be covered by good business insurance that includes small business liability insurance.

The extent to which their advice and solutions impact people can be almost limitless. In fact, if you tried to figure out who might sue you for advice you gave a client, you might never be able to do it. There will always exist people who simply perceive themselves to have been hurt by something you did. And they’ll sue you for it.

Alternatively, even the best management consultants make mistakes. Sometimes they could have legal ramifications. Other times, they could have professional ramifications. Indeed, things like errors and omissions insurance or professional liability insurance exist because professionals make mistakes. Not only do they make mistakes, but they make mistakes that violate the professional principles involved in their industry. It happens. It’s why even management consultants need good business insurance and liability protection.

Of course, whether you’re a management consultant, real estate agent, tax lawyer, or healthcare specialist, the specifics might be different, but the insurance risks are much the same. As small business owners with offices that need to be protected from the threat of financial loss, business insurance and small business liability insurance is simply a smart solution to that end. They literally help protect the small guy and gal from the swamp out there that could digest everything they’ve worked for. And that swamp could include the unwanted lawsuit.

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A Closer Look at The Education in India

The Indian Education System is one of the oldest systems of the world. Even before the number and alphabet systems, Gurus or sages used to impart knowledge orally to their Shishyas or students. This information was passed on from one generation to the other in many varied forms, from folk tales to various physical activities and tasks. The Indian education system was rich and highly respected in its form so much so that the students used to rank their Gurus even above their parents. Later on, manuscripts and teachings were written on palm leaves, temple walls and later, on paper. The teacher-student was considered very pious and even poor students used to offer their teacher some form of contribution, be it in the form of money, fruits or even pledges.

Today, the Indian education has taken on a completely different form. With the rise of modern, globalised India, education in India has raced forward with huge and successful leaps. For those who can afford good quality education, there are hardly any hurdles in their paths. But even for the poor and lesser fortunate strata of the society, the government has launched various policies and initiatives. In order to promote free education among poor children till the age of 14 years, the government has banned child labor and fervently launches various schemes like the Sarva Shiksha Abhiyaan (SSA) to entice more and more children to take up books. Apart from these schemes, the youth of India is waking up to its responsibilities and carrying out various individual, non-profit activities to impart knowledge to these children. And not just children, even the elderly and the women are coming forward and becoming an active part of these initiatives.

The youth of today rising India has played a major role in bringing about this change. Education initiatives like the “Each One, Teach One” program encourage young people of urban India to come forward and teach children from the deprived areas of the society. Moreover, professionals from established universities and schools are called in to support vocational training programs. To promote secondary level education and to make these children aware of its importance, the SSA has been further extended into Madhyamik Shiksha Abhiyaan. It is because of the youth of our country, equipped with global level education and the support of strong governing policies that the Indian education system has attained new heights. The country constitution states the Right to Education as a very fundamental one and makes it compulsory for every child to be educated till the senior secondary level.

The higher education of India is the third largest in the world after China and the USA and is equipped with better infrastructure and highly qualified and eminent teachers. The University Grants Commission is the highest governing body at the tertiary level and works along with government to promote and regulate various universities. In the year 2009, it was noted that India has 20 central universities, 215 state universities, 100 deemed universities, apart from many other colleges. With all these provisions, the country’s education system is sure to soar high.