Printers And Publishers Insurance Hawaii Policy Information
Printers And Publishers Insurance Hawaii. Printers and publishers publish a variety of items, such as advertising brochures, calendars, directories, greeting cards, pamphlets, product literature, and instructions relating to software and automation applications.
Some publishers specialize in providing services to a type of industry or client group, such as trade associations or travel organizations, while others offer services to the public.
Commercial printers and publishers in HI are responsible for producing copies or publications of their clients' valuable intellectual property. That's a pretty big responsibility. While you go to great lengths to ensure you deliver the highest quality results, errors can occur and uncontrollable circumstances can arise. When trouble strikes, you're liable for the damages.
How can you protect yourself from any issues that may arise? By making sure you invest in the right type of Printers and publishers insurance Hawaii coverage. What kind of coverage do you need? Read on to find out some of the key policies printers and publishers need to carry.
Printers and publishers insurance Hawaii protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why Do Printers And Publishers Need Insurance?
You're in the process of printing and publishing a client's novel and your equipment malfunctions. An employee fails to load the paper properly and your printer sustains serious damage. A vendor slips and falls on your commercial property while delivering products.
These are just a handful of the potential issues that could occur, and if they do, you're legally responsible for covering the costs that are associated with repairing damages, medical bills, and any other problems that may arise. It goes without saying that these costs can be quite expensive. Would you pay able to shell out tens of thousands or even millions of dollars? Even if you could, these costs could be crippling.
That's why having the right type of printers and publishers insurance Hawaii coverage is so important; if you're properly insured, instead of having to pay for liabilities yourself, your insurance carrier will cover them for you. In other words, being insured can help you avoid serious financial losses.
What Type of Insurance Do Printers And Publishers Need?
The specific type of commercial insurance that HI printers and publishers need to carry depends on several factors; where your business is geographically located, whether or not you employ a staff, and the size of your operation, for example.
For those reasons, consulting with a reputable agent that has experience insuring professionals in your industry is important, but there are some key types of printers and publishers insurance Hawaii coverage that should be considered. These policies include:
- Commercial General Liability - If a vendor slips and falls while making a delivery or a client claims you damaged their personal property, for example, commercial general liability insurance will protect you from the costs that are associated with these types of situations. For example, it will assist with the expenses that are associated with legal defense fees and medical bills that you're for.
- Professional Liability - If a member of your staff makes an error during the printing process or you fail to deliver the products that a client requested and paid for, professional liability insurance will cover the costs of any legal action that you may face.
- Workers' Compensation - Whether you employ a staff of 5, 50, or 500, you need to have workers' compensation insurance. As an employer, you're legally responsible for any work-related injuries or illnesses your staff may sustain; you're also responsible for replacing any wages employees may lose while they're recovering and unable to work. Workers' compensation insurance will pay for any medical bills and lost wages. If an injured or ill employee takes legal action against you, workers' compensation can also assist with the legal defense fees you may require.
- Commercial Property - This type of policy protects the physical aspects of your printing and publishing business, including the physical structure of your commercial space, as well as anything that's inside of it and just outside of the premises, including furniture, computers, outdoor signage, landscaping, and important documents, from numerous perils, such as fires, pipe bursts, explosions, storm damage, theft, and vandalism. Commercial property insurance will repair any damages or replace items that can't be repaired.
- Cyber Liability - A virus, hacker, or a glitch in your computer system can wreak havoc on your printing and publishing business. Such situations can halt operations and even lead to lawsuits, as the privacy of your clients, employees, vendors, and others can be compromised. Cyber liability insurance will protect you from the risks that are associated with cyberattacks, data breaches, viruses, and other computer- and cyber-related issues.
HI Printers And Publishers Risks & Exposures
Publishing liability exposure is from publishing activities, including allegations of copyright infringement, libel or slander, defamation of character, invasion of privacy, failure to check the authenticity of the material, and breach of confidentiality. Contractual agreements with authors and graphic designers should be written and include verification of originality and authenticity. All copy, including changes, must be documented in writing before the run begins. All ad copy must be in writing from the customer with a sign-off.
Premises liability exposures are limited as visitors are generally restricted to designated waiting areas and offices. If there are tours or events on premises, slips and falls can be reduced through good housekeeping and maintenance. Floor coverings must be in good condition, with no cracks or holes. Steps and uneven floor surfaces prominently marked. There should be well-marked sufficient exits with backup lighting systems in case of power failure. Parking areas and sidewalks should be in good repair and free of ice and snow.
Fumes, dust, and noise may be nuisance hazards to neighboring properties. Off-premises exposures include employees visiting prospective and current clients. There should be procedures as to how they carry out their duties, particularly policies regarding entertainment.
Environmental impairment exposure is minimal if no printing is done by the publisher. If there is printing on premises, inks and solvents used may be toxic or corrosive and may contaminate the air, ground, or water. Spill procedures must be in place to prevent the accidental discharge of inks through the drains. Contracts should be in place to dispose of all environmentally dangerous chemicals in accordance with federal and state guidelines.
Workers compensation exposure may be limited to those of an office and warehouse if all publishing processes are handled by independent contractors. Repetitive motion injuries can be prevented with ergonomically designed workstations. Back injuries, sprains and strains should be controlled in the warehouse area by teaching proper lifting techniques and supplying dollies and forklifts for heavy items. If full press printing is used, hearing impairment from noise, foreign objects in the eye, and slips and falls are common. Equipment operators must be thoroughly trained. Machinery must have safety guards to prevent accidental injury to employees, such as cuts or crushing. The use of inks, solvents and other chemicals can result in eye injuries, respiratory problems, or contact dermatitis. Injuries can result from loading and unloading vehicles. Drivers of forklifts and vehicles may be injured in collisions.
Property exposures from fire depend on the processes handled by the publisher. If no printing is done on premises, exposures will be limited to electrical wiring, heating and air conditioning systems used in offices and warehouses for storage of combustible finished stock, which is susceptible to damage from fire, smoke, and water. Many publishers are now using computers to print their materials. Many others use independent printers.
If printing is done on premises, ignition sources may include overheating of presses, accumulations of dust from cutting operations, and flammable liquids and solvents. Electrical wiring must be well maintained and meet current codes for the occupancy. Flammable liquids should be stored away from processing machinery and finished items. There should be automatic shutoffs to prevent overheating. Without adequate ventilation systems, dust can explode and cause a fire. Flammable liquids should be stored away from the machinery with only one day's supply in the processing area.
Smoke detection and fire suppression devices are highly recommended. Finished items should be stored separately from raw materials and the processing area. Poor housekeeping may be a serious fire hazard. Unless disposed of properly, greasy, oily rags (such as those used to clean the machinery) can cause a fire without a separate ignition source. Refueling and recharging of forklifts should be limited to well-ventilated areas away from combustibles.
Smoking should be prohibited. Theft is a consideration due to the number of computers and printers on premises. Security should be appropriate to the area.
Business interruption exposures can be high if foreign-made or specialized printing presses are used due to the length of time needed for repairs or replacement. Publication dates set in contracts must be met. If a loss should occur, extraordinary expenses must be expended to meet these expectations.
Equipment breakdown exposures include malfunctioning production equipment, ventilation electrical control panels and other apparatus. A lengthy breakdown to production machinery could result in a severe loss, both direct and under time element.
Crime exposure is from employee dishonesty. Background checks, including criminal history, should be performed on all employees handling money. An effective check and balance system must be in place to prevent the creation of fraudulent vendors and siphoning off money into those accounts. Ordering, billing, and disbursement functions should be separate and monitored. Reconciliations should occur regularly, and audits conducted annually. Physical inventories of all equipment and stock should be conducted on a regular basis to prevent inventory theft.
Inland marine exposure is from accounts receivable if the publisher bills customers, computers (which may include computer-run production equipment), and valuable papers and records for artwork, contracts, copyrights, and manuscripts. All data should be duplicated with copies kept off site for easy replication in case of loss. Original manuscripts and other rare papers should be copied and stored in a separate area with specialized controls and security.
There may be a bailees exposure from art or manuscripts owned by others. Goods in transit is an exposure if the publisher delivers finished products to customers.
Commercial auto exposures may be limited to hired and non-owned for employees running errands. If the publisher picks up supplies or delivers products to customers, the exposure increases due to the potential for overturn and spillage. If vehicles are provided to salespersons, there should be a written policy on personal and permissive use. All drivers must have appropriate licenses and acceptable MVRs. All vehicles must be maintained with records kept at a central location.
HI Printers And Publishers Insurance - The Bottom Line
Commercial printers and publishers insurance Hawaii can help increase your businesses security, productivity, stability and also allow you to attract more clients.
Hawaii Economic Data, Regulations And Limits On Commercial Insurance
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:
- Pearl City
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 Advertising, Marketing & Media Insurance
Learn about small business media liability insurance - a specialized form of professional liability insurance that provides protection for legal claims brought by third parties.
- Advertising Agency
- Book Publishers
- Call Center
- Direct Mailing Services
- Graphic Arts
- Graphic Designers
- Magazine Publishers
- Market Research Firm
- Marketing Consultant
- Podcast Insurance
- Printers & Publishers
- Public Relations
- Radio Stations
- Search Engine Services SEO
- Social Media Consultant
- Television Stations
Media operations are fast-paced businesses with unique property and liability insurance exposures. They depend more and more on computer systems and up-to-date software programs. These businesses usually have extensive contracts with both freelance individuals and corporations.
In addition, personal injury liability and confidentiality issues must be addressed. Insurance coverage for these concerns must be as comprehensive, flexible and responsive as the organization seeking it.
Advertising and Media Liability Insurance provisions are not standardized, so it is critical to carefully review a particular form's basic features and available coverage options. While some carriers offer coverage on an open perils basis, most will provide coverage only on a named perils basis.
The named perils generally include coverage against allegations involving defamation, disparagement of an individual's reputation, product disparagement, invasion or infringement of the right of privacy, infliction of emotional distress, plagiarism, piracy, infringement of copyright, trademark, or other intellectual property, newsgathering torts such as trespass and assault, unfair competition with respect to other covered communication perils, and errors and omissions.
Coverage can be written on a claims-made basis or on occurrence-based forms. The occurrence basis affords additional protection to the insured as coverage is provided for a claim or event occurring during the policy period, even if the coverage expires or is cancelled or nonrenewed.
Most media liability policies provide a Limit of Liability per event, plus an Aggregate Limit of Liability for all events covered during the policy term. Some carriers now offer coverage without requiring an Aggregate Limit of Liability. Such a policy is an advantage to the insured as this eliminates the fear that the policy limits will run out before the policy expires.
Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Bailees' Customers, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional and Advertising Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Automobile Liability and Physical Damage, Foreign Automobile Liability and Physical Damage, Foreign Workers Compensation, Repatriation Expense 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.