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Hawaii Inspection Bureau Insurance Policy Information

HI Inspection Bureau Insurance

Hawaii Inspection Bureau Insurance. Inspection bureaus evaluate and assess compliance with standards, rules, or regulations relating to a specific type of industry and provide reports of their findings to their clients. Many industries need periodic independent reviews to assure compliance with known standards, rules, or regulations.

The inspection bureau may identify ways for them to improve compliance with standards, rules, or regulations. For example, an inspection may reveal workplace safety issues that need to be brought into compliance with OSHA regulations.

Inspections for insurance purposes, inspections of product safety controls, and inspections of the accuracy of machine calibrations may also be offered.

Regulation of inspectors, certification and educational requirements vary by state.

Inspection bureaus play a role in numerous different fields of industry and commerce, from construction to electricity providers, where they act as independent contractors. These businesses perform vital services and can be extremely successful.

HI inspection bureaus also, on the other hand, face a range of risks that could threaten their financial future, unless they have taken adequate steps to protect themselves.

How can investing in the right types of Hawaii inspection bureau insurance help - and what kinds of coverage might be needed? For more information, keep reading.

Hawaii inspection bureau insurance protects your compliance assessment and evaluation business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.

Why Do HI Inspection Bureaus Need Insurance?

Like companies in any other branch of commerce, inspection bureaus can be confronted with numerous perils that could negatively impact their financial outlook virtually overnight. Inspection bureaus have to consider both universal risks and hazards unique to their industry when they decide what types of insurance they may need.

Your office premises may, for instance, be struck by an act of nature, such as an earthquake, a wildfire, or a serious storm. Both your building and its contents could suffer extensive damage in the process, to the point where you may have to temporarily close your business. Theft, vandalism, and accidents are three further examples of perils that could cause serious property damage.

In addition, a client may allege that you missed something during an inspection. Especially if this alleged professional negligence is associated with serious harm, that could lead to time-consuming and financially-devastating litigation, whether or not your company did anything wrong. An employee may be injured during an inspection, or a client visiting your office could slip on a wet floor.

The list of perils that could cost you more than you can comfortably deal with on your own is almost endless. Thankfully, investing in a comprehensive Hawaii inspection bureau insurance plan gives businesses in this industry the peace of mind that will allow them to focus on what they do best.

What Type Of Insurance Do Hawaii Inspection Bureaus Need?

When it comes to insurance, there is no "one-size-fits-all" answer - the types of coverage inspection bureaus should carry depend on factors like the location where the business operates, the field of commerce it serves, the value of its equipment, and even its number of employees.

Because acquiring the right Hawaii inspection bureau insurance can be complex, consulting a skilled commercial insurance broker who is deeply familiar with your line of work is essential. With that in mind, some of the types of HI inspection bureaus must have on their radar include:

  • Commercial Property - Despite all the measures you take to protect your commercial property from harm, perils like acts of nature, theft, and vandalism remain a threat. This form of insurance covers repair and replacement costs relating to your building as well as its contents.
  • Commercial General Liability - To defend yourself against bodily injury or property damage claims filed by third parties, this form of Hawaii inspection bureau insurance is essential. It helps you cover attorney fees, settlement costs, and other related legal expenses.
  • Errors And Omissions - Inspection bureaus also need "E&O insurance", alternatively called professional liability insurance, to manage the costs associated with cases that you failed to carry your professional duties out as agreed. Once again, these policies will cover a significant portion of your legal fees in case of professional liability claims.
  • Workers Compensation - Should an employee suffer an occupational injury or illness, this form of insurance shoulders the cost of their medical bills, while also taking care of the income they lose while they are unable to work. Simultaneously, carrying workers' comp reduces the risk that employees will sue you.
  • Commercial Auto - Inspection bureaus will certainly rely on multiple professional vehicles to drive to client locations. If such a vehicle is involved in an accident or is stolen, commercial auto insurance shoulders the related costs.

To ensure that you are covered against all major threats, it remains important to talk to a trusted commercial insurance broker. That is because you may need additional forms of Hawaii inspection bureau insurance coverage, depending on your individual risk profile.

HI Inspection Bureau's Risks & Exposures

Premises liability exposure may be limited at the firm's office due to lack of public access. If clients visit the premises, they must be confined to designated areas so they cannot view or overhear conversations regarding other clients' proprietary information.

To prevent slips, trips, or falls, all areas accessible to clients must be free of obstacles with floor coverings in good condition. The number of exits must be sufficient and well marked, with backup lighting in case of power failure. Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls. There should be a disaster plan for unexpected emergencies.

Off-site exposures are extensive as inspectors visit customers' premises and job sites, including access to sensitive areas. They may be involved with customers of the client to understand all aspects of the operations. There must be training, procedures, and policies regarding appropriate off-site conduct and methods of ensuring confidentiality.

Complaints about inspectors should be dealt with quickly. Personal injury liability exposures include allegations of assault, discrimination, and invasion of privacy.

Professional liability exposure is significant from rendering evaluations, opinions, findings, and results as ineffective advice or incorrect testing practices can result in substantial damage to property or injury to people. Customers can suffer financial loss if they must pay fines or cease operations due to a government order because of inspection-related issues.

The hazards increase if the firm fails to conduct thorough background checks to verify employees' training, background, and education, or if error checking procedures are ignored or are inadequate. Documentation must be clear, and testing procedures followed.

Other exposures include allegations of breach of a client's confidentiality or a conflict of interest.

Environmental impairment exposure may be a concern if samples are taken due to the potential for air, ground, or water contamination from the use of chemicals during the testing process. There must be a documented method of disposal for all items tested as well as disposal of solvents or acids used in testing protocols. Any disposal must adhere to all federal and state regulatory requirements.

Workers compensation exposure can be very high from office operations and off-site visits to customers' premises. Work done in the office is done on computers. Potential injuries include eyestrain, neck strain, carpal tunnel syndrome, and similar cumulative trauma injuries that can be reduced with ergonomically designed workstations. Travel may be extensive.

Off-site exposures may include working at construction sites, at heights, on rough terrain, or in isolated areas. Inspectors may be exposed to a variety of chemicals and conditions. Back strains, hernias, and related injury can occur when lifting, obtaining samples or attempting to view processes.

Inspectors may be injured by trips and falls, falling objects, respiratory ailments from inhaling pollutants, dusts, or other allergens, foreign objects in the eye, hearing impairment from noise, assaults, attacks by unrestrained animals, or in vehicle or aviation accidents.

Since inspectors often work alone, injuries may go unnoticed, which can lead to delayed response and delayed first aid. Employees should have appropriate safety gear when working in laboratories or when visiting a job site.

Property exposure is primarily that of an office. Ignition sources include wiring, heating and air conditioning systems, wear, and overheating of equipment. There may be storage of client information in paper form, although these are now often digital instead of paper format. Storage of paper should be in fireproof cabinets.

Fire suppression systems must not damage the papers. If there is a testing laboratory on premises, such as facilities for the taking of samples to assure noise, air, water, or soil acceptability, chemicals must be separated from combustibles and stored in fireproof cabinets. Computers and other electronic equipment may be targets for theft.

Inland marine exposures consist of accounts receivable if the firm offers credit, computers, special floater, and valuable papers and records for contracts, research projects, and clients' information. Inspectors may carry audiovisual equipment, laptop or portable computers, ladders, flashlights, measuring equipment, and scientific instruments with them to job sites.

Computer systems must be backed up regularly and have adequate security features to prevent unauthorized access due to the potential for industrial espionage or by hackers. There may be a bailees exposure if the inspection bureau takes physical custody of customers' goods.

Crime exposure comes from employee dishonesty, including theft of clients' property, and various types of fraud since many businesses are dependent on certification or approval by inspectors. The exposure can be quite serious as inspectors have access to clients' personal and proprietary information.

Potential for theft, particularly industrial espionage, is great. Background checks should be conducted on all employees. Monitoring procedures and securing of all records should be enforced to prevent unauthorized access to client information.

here must be a separation of duties between persons handling deposits and disbursements and reconciling bank statements.

Business auto exposures are moderate as inspectors travel to job sites or high if workers pick up and deliver samples and results. Inspectors may rent vehicles when sites to be inspected are not local.

If vehicles are supplied to employees, there should be written guidelines regarding the personal and permitted use of the vehicle by employees or their family members.

All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained, and records kept in a central location. If samples of hazardous materials are transported, special handling procedures may be required.

Hawaii Inspection Bureau Insurance - The Bottom Line

To discover the exact types of Hawaii inspection bureau insurance policies you'll need, how much coverage you should have and the premiums, speak with a reputable broker that is experienced in commercial insurance.

Hawaii Economic Data, Regulations And Limits On Commercial Insurance

Made In Hawaii

Location is one of the most vital factors that prospective business owners need to take into consideration when they are thinking about establishing an operation. You can have the best possible products and offer the most exceptional services, but if the location doesn't offer a market that can benefit from those goods and services, your business will have difficulty thriving.

As such, if you are an entrepreneur who has set your sights on Hawaii for the headquarters of your business or a new division of an already existing corporation, it's a good idea to familiarize yourself with the state's economic data. It's also important to understand what type of commercial insurance you will need to invest in to protect yourself, your employees, your vendors, and the clients you serve.

Below, we provide a brief overview of important economic data and the commercial insurance requirements for business owners in the Aloha State.

Economic Trends For Business Owners In Hawaii

A state's unemployment rate is a good indicator of the overall economy of the region. It indicates that there are enough jobs available to support the economy, which is a direct reflection of the success of businesses in the state. As of 2019, the Bureau of Labor Statistics indicated that the unemployment rate in Hawaii was 2.6%, 0.8% lower than the national average of 3.4% from the same timeframe. This rate has also decreased throughout 2019, as it was 2.8% in July of 2019.

As with most states, the best locations to start a business in the state of Hawaii include urban areas and the suburban regions that surround them. The top cities for business owners in HI include:

  • Hilo
  • Kahului
  • Waipahu
  • Pearl City
  • Kaneohe

While several industries do well in Hawaii, certain sectors thrive. Tourism has long been the leading industry in the state, as people from around the globe flock to Hawaii each year.

Agriculture is also a booming industry here; the state is the second largest producer of sugar can in the U.S. Defense is also a key sector here, as all branches off the armed forces have bases located in the state. Another industry that also thrives here is manufacturing; specifically the manufacturing of cotton-based goods, such as clothing.

Commercial Insurance Requirements In Hawaii

The Hawaii Department of Commerce and Consumer Affairs regulates insurance in HI. Hawaii mandates very few forms of insurance coverage by law. They enforce worker's compensation.

Hawaii requires you to have worker's compensation insurance if you hire even one employee on a regular basis. 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.

Hawaii 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.


Professional Services Insurance

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 HI local small businesses by General Liability Class Code and learn about Hawaii small business insurance requirements for general liability, business property, commercial auto & workers compensation including HI business insurance costs. Call us (808) 300-0578.

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