Colorado County Administration Offices Insurance Policy Information
Colorado County Administration Offices Insurance. Country administration offices serve their communities by performing a range of duties - they are involved in making budgetary and planning decisions, analyze progress, and inform members of the public, among other activities.
County administration buildings provide office and meeting facilities for city or county operations. They often have auditoriums or other facilities for public gatherings or for political assemblies.
A council may run counties, either elected or appointed, and may have a mayor who acts as the head. Wide varieties of services are provided by the council to residents in exchange for tax dollars.
The county may provide services such as planning and zoning, licenses and permits, assessors' and surveyors' offices, courts, disease control, sanitation, road construction and maintenance, snow removal, and public protection such as police or fire departments.
Some counties may contract utility services, such as gas, water, or electricity, for residents within their geographical area.
The fact that county administration offices perform public functions does not prevent them from being, in many ways, similar to small- to mid-sized commercial ventures. As diverse kinds of work unfold within county administration offices, they, too, face a variety of risks just like businesses do.
To protect them from the financial blows that can be dealt by such risks, county administration offices require insurance just like any other public or commercial entity.
What types of Colorado county administration offices insurance coverage might they benefit from? That is what we will be exploring in this brief guide.
Colorado county administration offices insurance protects local government buildings from lawsuits with rates as low as $97/mo. Get a fast quote and your certificate of insurance now.
Why Do CO County Administration Offices Need Insurance?
The public servants who work within CO county administration offices may do everything in their power to ensure that all the office's duties are performed flawlessly, as well as taking steps to reduce the likelihood that they will be impacted by major perils.
No risk can be reduced to zero, however, and that is why insurance is so important - unlike proactive preventative measures, insurance is an aspect of your risk management plan that will serve you after disaster has already struck.
No building is free of the risk that it will suffer damage, or even be completely destroyed, by an act of nature, to name one example of a universal threat. Government administration offices can be damaged after an earthquake, wildfire, hurricane, or other natural disaster strikes, but theft and vandalism are also concerns.
Accidents - like a car crashing into the building - have to be considered as well.
Then, there are liability-related risks. Should an employee or a member of the public slip on wet stairs and become injured, for example, a governmental or public body can be held financially responsible. In the event that sensitive data is accessed, or an employee commits theft of public property, the resulting legal costs may be significant.
While each entity faces different risks, the presence of risk itself is universal. With that, so is the need for Colorado county administration offices insurance.
What Type Of Insurance Do Colorado County Administration Offices Need?
The process of obtaining the insurance coverage that best benefits any particular entity, be it a public body or business, is complex. The insurance needs a county administration office may have depend on a multitude of factors - the age of the building, the location and associated climate and weather, and the number of employees are merely some examples.
A commercial insurance broker who specializes in governmental and public organizations is best situated to advise an individual county administration office. Some examples of forms of Colorado county administration offices insurance they would recommend are:
- Commercial Property - This type of insurance covers a county administration office in case their building is struck by an act of nature, or hit by an accident, theft, or act of vandalism. The costs of the resulting damage or losses are (partially) replaced by these policies.
- General Liability - Designed to protect an organization in the event that a third party files a bodily injury or property damage claim, this type of Colorado county administration offices insurance would be called if a neighboring property was damaged when a tree on your property fell down, for instance. A member of the public slipping on a wet floor is another example of the kind of scenario covered.
- Workers' Compensation - Workers comp pays for the medical bills and any lost wages of an employee who suffers work-related injuries. Although more common in some other fields of employment, county administration office employees can certainly sustain injuries at work.
- Business Auto - Any organization that uses vehicles over the course of their activities will further require auto insurance, to cover the costs associated with damage or injury after any vehicular accident.
- Employee Dishonesty Coverage - All public and governmental organizations should also have this type of insurance on their radar, as it covers the financial consequences of employee theft or other forms of dishonesty.
Keep in mind that this list of important forms of Colorado county administration offices insurance does not necessarily amount to a comprehensive insurance plan.
To find out more about your specific needs, ask a commercial insurance broker.
CO County Administration Building's Risks & Exposures
Premises liability exposure is high due to services provided to residents and the public's access to the building. If tours are given, exposures increase significantly as guests may be led through areas generally "off limits" to more casual visitors.
Legislation and judicial decisions have eroded governmental immunity protection in most states. Public and life safety code compliance is very important. To prevent trips, slips, and falls, all premises must be well maintained with flooring in good condition. Adequate lighting, marked exits, and egress are mandatory. Steps must have handrails, be well lit, marked, and in good repair.
An outside service contractor should inspect elevators and escalators annually. Parking lots should be free of ice and snow.
County facilities may be a target for vandals, disgruntled citizens, criminals, or terrorists. Security inside the facility, as well as outside areas including owned parking areas, needs to be carefully implemented and monitored.
An evacuation plan must be in place. Personal injury losses may occur due to an alleged assault, discrimination, invasion of privacy, or unlawful detention.
Public officials' liability exposure can be severe. Today's political climate has seen an increase in lawsuits against public officials for failure to perform the functions of their office, failure to account for tax funds, failure to enforce regulations, failure to follow mandated procedures, such as open bidding on contracts, bad faith, and other errors or omissions. Defense costs can be prohibitively expensive.
Workers compensation exposures are varied, from office workers to volunteers, janitorial staff, building or yard maintenance workers, repair personnel, and drivers. Workers may incur back injuries, hernias, slips, falls, strains, or sprains.
Skin or lung irritations can result from working with cleaning chemicals and paint. Office workers may develop repetitive motion injuries. Workstations should be ergonomically designed. There may be interactions with angry constituents or protestors. Employees should be trained to deal with difficult situations.
Property exposure is generally low. Ignition sources include electrical wiring and heating, and air conditioning systems. There may be a restaurant or cafeteria on premises. Most offices have extensive wiring for lighting, computer, and other electronic equipment. It must be in good repair and adequate for its use.
Valuation may be a concern in older buildings with unique architectural features that may be difficult to rebuild with like construction and quality after a loss. Smoking should be prohibited.
If there is a restaurant or cafeteria on premises, all cooking equipment should be properly protected. Garages for storing, fueling, and maintaining vehicles must be separated from office facilities.
Governmental facilities may be a target for political activists or for terrorists. Adequate security is required. There should be disaster recovery plans in place to continue operations in the event of a large loss.
Crime exposure is from public officials' dishonesty, employee dishonesty, and money and securities. Background checks, including criminal history, must be completed on all employees. Receipts must be provided for all payments of taxes, fees, fines, and penalties, with daily reconciliation between receipts and money received. Regular deposits must be made with adequate security provided.
Money should not be left on premises overnight. There must be regular audits, preferably by an outside firm. All employees must take at least one complete week of vacation each year. If the facilities house offices to collect fees, penalties, or obtain permits and licenses, there may be an exposure to holdup.
Inland marine exposures are from accounts receivable for billings, audio/visual equipment, computers, contractors' equipment, fine arts, and valuable papers and records. Contractors' equipment may be used off-premises to build, maintain, or service municipal streets and roads.
Fine arts such as statuary and paintings, artifacts, historical documents, rare or historical books, or manuscripts may be one-of-a-kind and irreplaceable. If insured, valuation should be done by a qualified appraiser.
Valuable papers and records are often delicate and must be protected from fire, water damage, vandalism, theft, or other losses. All records should be duplicated and retained at an off-site storage facility for easy retrieval in the event of a loss.
Commercial automobile exposure can be high if vehicles are used to transport public officials, guests, and visitors. All drivers must have appropriate licenses and acceptable MVRs. All vehicles must be maintained on a regular basis with records kept in a central location.
During inclement weather, drivers may be on the road for extended hours in adverse conditions. Supervision is necessary so drivers can be rotated and not become overly fatigued.
There may be a hired and non-owned auto exposure if employees use their own vehicles to run errands or attend meetings on municipal business. Employees should carry personal automobile insurance with adequate liability limits.
Colorado County Administration Offices Insurance - The Bottom Line
To learn more about Colorado county administration offices insurance policies need, and how much and what types of coverage you should carry, consult with a commercial insurance broker that is experienced in business insurance.
Colorado Economic Data & Business Insurance Information
If you're thinking about doing business in Colorado, it's important to familiarize yourself with the economic status of the state, as well as the regulations and limits regarding insurance for businesses. Below, we offer insight into pertinent economic data related to the state of Colorado, as well as key business insurance information so that you can put your best foot forward and make the best decisions for your business in the Centennial State.
Business Economic Trends In The State Of Colorado
According to recent reports from the leading economic researchers, the state of Colorado has a healthy outlook, economically speaking. While fewer jobs will be added in 2018 than have been in recent years, the growth rate is still expected to climb.
It's anticipated that entrepreneurs who are really interested in taking risks in new ventures will be the leading contributors for the state's economic growth. However, less risky industries will lend to the economy, as well, such as cloud computing and cybersecurity.
In regard to the fuel industry, it is anticipate that there will be an increase in valuation of about 9 percent in the year 2018, and this growth pertains mainly to gas and oil. This increase will largely be due to the improvement in energy prices, which are lower this year than they have been in recent years. It's hopeful that energy prices will continue to fall so that these industries can continue to thrive.
In terms of agriculture, it's projected that farms in the state of Colorado will do a little better this year than they did in 2017. Leading economic research agencies are expecting that the income from agriculture will reach nearly $1.4 billion in 2022.
In regard to the retail market, it is also expected that this industry will see steady growth, despite the rising trend of e-commerce solutions. In fact, it's estimated that the rate of employment in the retail sector will increase by as much as 2.1 percent during the 2022 fiscal year.
Regulations And Limits For CO Commercial Insurance
The Colorado Division of Insurance regulates insurance in Colorado. CO is considered a "fault state", meaning that business owners are not legally required to carry liability insurance; however, liability coverage is the type of commercial insurance that is most commonly purchased in the state. Commercial liability insurance covers business owners and their clients for things like bodily and personal injury, commercial property damage, and injuries that pertain to advertising injuries.
The only commercial insurance that business owners are required to carry is workers' compensation insurance. Any business that employees an hourly or wage staff must carry this type of coverage to protect their employees.
Additional Resources For Local, State And Federal Government Insurance
Learn about commercial insurance for local, state and federal government agencies, services, operations and buildings.
- County Administration Offices
- Fire Departments
- Government Buildings
- Law Enforcement Entities
- Public Buildings
Cooperative efforts between insurance professionals and public officials have led to the satisfactory arrangement of coverages for public properties that may include large building schedules spread over a number of locations and geographic areas.
Liability insurance protection is a matter of much greater concern. As governmental and charitable institutional immunity continues to erode, the onslaught of lawsuits makes adequate liability protection essential.
Public utilities have unique insurance needs usually best handled by specialists in their field.
Because government entities are becoming more inventive in raising money, they are involved in activities that may not appear to be government-related so that they may require coverages that at first glance do not seem appropriate for them.
Minimum recommended small business insurance coverage: Building, Business Personal Property, Employee Dishonesty, Money and Securities, Accounts Receivable, Audio/Visual Equipment, Computers, Contractors' Equipment, Fine Arts, Valuable Papers and Records, General Liability, Cyberliability, Employee Benefits, Public Officials' Liability, Umbrella, Hired and Non-Oowned Auto & Workers Compensation.
Other commercial insurance policies to consider: Earthquake, Equipment Breakdown, Extra Expense, Flood, Computer Fraud, Forgery, Employment-related Practices, Business Auto Liability and Physical Damage and; Stop Gap Liability.
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