Printers And Publishers Insurance Ohio Policy Information
Printers And Publishers Insurance Ohio. 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 OH 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 Ohio 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 Ohio 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 Ohio 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 OH 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 Ohio 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.
OH 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.
OH Printers And Publishers Insurance - The Bottom Line
Commercial printers and publishers insurance Ohio can help increase your businesses security, productivity, stability and also allow you to attract more clients.
Ohio Economic Data, Regulations & Commercial Insurance Minimum Requirements
If you're an entrepreneur, you know how important it is to research the location where you plan on setting up shop. No matter how how-quality and valuable the products and/or services your business offers may be, if you're situated in an area that isn't suitable for your operation (the wrong target demographic, a poor market, etc.), you just aren't going to achieve the success that you're hoping for.
If you're considering Ohio for your headquarters or for a new branch of your business, you definitely want to take the time to research the area before you set up shop. Below, we'll take a look at the economic trends of the Buckeye State, including employment rates and key industries that are thriving in the area. We'll also highlight some of the key forms of commercial insurance business owners need to carry when operating in Ohio.
Economic Trends for Business Owners In Ohio
The Buckeye State has seen a marked increase in job growth, which is indicated by the record low unemployment rate. According to the Ohio Department of Job and Family Services, as of April, 2021, the rate of unemployment was 4.3 percent; the lowest it's been in more than 18 years. In April the previous year, the rate was 4.6 percent, a difference of .03 percent in 1 year; however, and more notably, the rate has dropped .01 percent in just one month, as it was 4.4 percent in March, 2021. July, 2001 was the last time Ohio saw such a low level of unemployment, when the rate was 4.2 percent.
In January, 2010, the rate was an astounding 11.1 percent, so it's safe to say that there has been a definite decrease in the number of jobless people in the Buckeye State, which is a strong indication of the overall economy of the state.
The greater Cincinnati area is one of the best places for businesses in Ohio, where smaller cities are seeing the largest growth. Examples include Blue Ash, Beachwood, Independence, Sharonville, and Springdale. Industries that are thriving in Ohio include:
- Advanced Energy and Environmental Technologies
- Aerospace and Aviation
- Information Technology
- Logistics and Distribution
- Oil and Gas
Business Insurance Regulations In OH
The Ohio Department of Insurance regulates insurance in Ohio. Certain policies are mandated in Ohio, meaning business owners must carry specific types of coverage. Business owners can protect themselves, the customers they serve, the vendors they work with, and their workers from various risks by investing in the right type of insurance coverage. Coverages that are required include:
Workers Compensation - Most Ohio businesses with employees are required to pay for workers comp. If your OH business has just one employee, you're probably required to carry workers' compensation insurance. In Ohio, workers' compensation insurance is provided through the state - rather than through private insurance companies.
Other forms of insurance that business owners may be required by contract or municipality. The amount of coverage business owners need to carry for each policy vary and depend on a variety of factors, including the size of the operation, the number of employees, and the nature of operations.
Additional Resources For Miscellaneous Insurance
Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.
- Adult Daycare Insurance
- Agriculture, Forestry, Fishing & Hunting
- Bail Agent
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- Employment / Staffing Agency
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- Printers & Publishers
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An insurance contract is an agreement where one party obligates itself to make good the financial loss or damage sustained by a second party when a designated event occurs. The event must be fortuitous and happen by accident. The named insured must have insurable interest at the time of loss. One final point is that in order for any contract to be considered insurance, there must be a risk of loss.
Fortuitous Event - An occurrence largely beyond the control of any involved party; happening by chance; accidental; for example: fire, lightning, windstorm, explosion or flood.
Insurable Interest - In order to recover from a loss to property, the holder must have an insurable interest in the property at the time of the event or occurrence. An insurable interest is any right, title or interest in property where the holder of that right, title or interest sustains financial loss if the property is damaged or destroyed. Any lawful and substantial economic interest in the safety or preservation of the property from loss, destruction or damage also constitutes an insurable interest.
An entity does not have to be the property owner to have an insurable interest in it. Examples include, but are not limited to, mortgagees, trustees, vendors, lessees and bailees. Insurable interest for any entity must exist at the time the loss occurs.
Risk Of Loss - If property could never be destroyed, there is no risk of loss. If property must necessarily disintegrate or be destroyed, there is no risk of loss. Between these two extremes is the exposure of risk that can be insured.
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