Corporate Wellness Insurance Oklahoma Policy Information
Corporate Wellness Insurance Oklahoma Changes to the Affordable Care Act have created new incentives for companies to offer wellness programs for their employees. This is aimed at reducing the healthcare costs for businesses and improving the health of employees.
To make this possible corporate wellness professionals create specialized programs that promote consistent, healthy behaviors at the workplace. Wellness counselors offer a wide range of wellness services for their clients, treating their anxiety, depression, grief, and sometimes offering more holistic treatments for nutrition and lifestyle.
As a corporate wellness professional, you are exposed to the possibility of legal action being taken against you in respect of your legal responsibility for property damage or personal injury arising as you provide your services. Claims can be expensive to defend and even more costly if you're found legally liable. With corporate wellness insurance Oklahoma, you can cover professional liability and other business risks as you provide your services.
Corporate wellness insurance Oklahoma protects your business from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Professional Liability Insurance: As a corporate wellness professional, the advice, treatment, and services you offer your clients' employees have the potential to change their lives. Yet this rare and incredible opportunity can be a double-edged sword. When others turn to you to improve their health and quality of life, in some cases you find that lives literally depend on your services. Even seemingly simple negligence could escalate into costly court cases.
Professional liability insurance, also known as errors and omissions insurance (E&O), offers indemnity and expense protection for errors and omissions emanating from professional mistakes. These include professional negligence, provision of services that are below the prevailing standard of care, and misrepresentation.
Policy terms and conditions for professional liability insurance are not standardized and must be reviewed closely. Some key components to look for are incident-sensitive trigger, defense outside limits and prior-acts coverage.
Commercial General Liability Insurance: General liability protect your OK wellness business from claims made for third-party bodily injury and property damage. For example if you spilled coffee on a clients computer, or they slipped and fell in your office. This corporate wellness insurance Oklahoma covers medical expenses and any other costs associated with legal defense.
Cyber Liability Insurance: Someone steals sensitive client information from your office computer system. Or you accidentally leave your laptop containing saved logins for your office network in a cab. Data breaches can happen in a variety of ways, but the legal and regulatory costs can be extremely damaging to your business. Data breach will protect you from those expenses.
Workers Compensation: Workers Comp is mandatory in most states for any non-owner employees. OK workers comp covers your employees' lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work.
Commercial Property Insurance: This corporate wellness insurance Oklahoma indemnifies you for the loss of company property. Company property is an extremely broad term and can refer to anything from buildings and equipment to business records and supplies. Often, most OK professional wellness providers will purchase a very specific form of property insurance to cover individual risks.
Employee Crime and Dishonesty Coverage: This corporate wellness insurance Oklahoma coverage will protect you from the costs of theft, dishonesty and fraudulent acts committed by an individual employee or a group of employees. It provides coverage for forgery, alteration, theft, unauthorized electronic funds transfers, credit card fraud, computer fraud, money order fraud and counterfeit fraud.
OK Corporate Wellness Insurance
Everyone wants to be healthier. And as a OK corporate wellness solutions provider, you have more power than you may realize to give your clients' employees the gift of greater health. From providing education, wellness fairs, and health risk assessments, to hosting preventative vaccine drives and offering health and fitness coaching - you can help change their lives in profoundly positive ways.
For greater confidence when providing your services, you should get a wide-ranging package of insurance policies to cover your liabilities, potential property loss scenarios, and other situations that could cost your practices thousands of dollars in unexpected costs. Mark yourself as an ethical and serious corporate wellness counselor by being properly insured.
Oklahoma Economic Data, Regulations And Limits On Commercial Insurance
As an entrepreneur, you know that the location of your operation is as important as the products and services you offer. After all, if you want your company to flourish, the location where you set up shop needs to offer favorable conditions.
Whether you're thinking about starting a business in Oklahoma or you're planning on expanding an existing operation by establishing a branch in the state, it's crucial that you have an understanding of the economic trends and commercial insurance policies that you're required to carry in the Sooner State.
The economic trends provide powerful insight about the success of other companies that are already established in a state, and that information can be applied to a prospective operation.
Knowing what commercial insurance policies are required is also important so that you can ensure you are properly protected and that you are operating within compliance of the law. Below, we provide an overview of both of these crucial factors for entrepreneurs who are considering Oklahoma for their operations.
Economic Trends For Business Owners In Oklahoma
When assessing the economy of a state, the employment rate is a vital statistic. This data indicates whether or not there are ample job opportunities available for residents, which is a direct reflection of the success of businesses that are already established in the state.
In December of 2019, the Bureau of Labor Statistics reported that the unemployment rate in the state of Oklahoma was 3.4%; 0.1% lower than the national average. This indicates a healthy economy.
Businesses of varying sizes and in numerous industries are either headquartered or have branches in Oklahoma. The top industries in OK include:
- Aviation and Aerospace
- Business services
- Health care
- Transportation and logistics
If you are considering opening a business in any of the above-mentioned sectors, you should see ample opportunities for success in Oklahoma.
The best locations to start a business in OK include:
- Elk City
- Pryor Creek
These regions and the areas that surround them are home to numerous businesses, offer easy access to national markets, and provide a healthy and diverse workforce.
Commercial Insurance Requirements In Oklahoma
The Oklahoma Insurance Department regulates insurance in OK. Oklahoma mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Oklahoma requires you to have worker's compensation insurance if you hire even one employee on a regular basis with some exceptions. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Oklahoma also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Professional Services Insurance
Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.
- Answering Service
- Armored Car
- Attorney Lawyer
- Business Consulting
- Commodity Broker
- Corporate Wellness
- Court Reporter
- Debt Collection Agency
- Detective Agency
- Electrical Engineering
- Environmental Consultant
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Services
- Financial Planner
- HR Consultant
- Insurance Agents & Brokers Insurance
- Mediator - Arbitrator
- Medical Billing
- Music, Drama & Dance Therapy
- Office Machine Repair & Maintenance
- Piano Tuners
- Project Management
- Temporary Staffing
- Tax Preparer
Let's face reality. People today are claims conscious, resulting in a significant share of malpractice lawsuits against professionals.
Liability resulting from the rendering of or the failure to render professional services is excluded in most liability coverage forms. This means that a policy covering a account's or lawyers' office will cover liability arising out of the maintenance or use of the premises, but specifically exclude liability arising out of the rendering of a professional service or the omission of such a service.
In addition to the professions in which actual physical or mental injury may be caused to clients, certain other professions are exposed to claims for malpractice.
Claims may be brought against lawyers, accountants, architects, and similar professional persons for errors or omissions in their professional capacity. Errors & Omissions insurance pays damages that might be awarded to a plaintiff alleging professional negligence.
Professional liability policies are made available to such risks, and these policies provide essentially the same protection as is afforded under the physicians, surgeons or dentists professional liability policy.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Money and Securities, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
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Also find Oklahoma insurance agents & brokers and learn about Oklahoma small business insurance requirements for general liability, business property, commercial auto & workers compensation including OK business insurance costs. Call us (405) 200-1351.