Tennessee Public Relations Insurance. Public relations agencies are primarily engaged in designing and implementing public relations campaigns for their clients. They also engage in lobbying, political consulting and media relations on behalf of their clients. They are paid large sums of money to engage in these activities. They are often needed because a situation is already delicate and their expertise is required to smooth things over.
But even the most tactful and strategic PR professionals sometimes find themselves on the receiving end of angry accusations of libel, slander, or defamation. Unintended plagiarism & client record theft are other common causes of claims against your firm. Defending yourself against negligence claims like these costs time, money and can damage your own & your firm's reputation - that's why it's important to be fully covered.
If a client sues your firm, how much would it cost? For most firms, the cost of a lawsuit - often six or seven figures - could be devastating. Fortunately, Tennessee public relations insurance can help offer protection by paying for your legal expenses.
Tennessee public relations insurance protects your PR firm from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
In the constantly changing world of PR it can be easy to make a mistake and when your firm is representing others, you need to ensure that you have Tennessee public relations insurance protection. As an example, a TN PR firm could be sued because they failed to improve the image of a professional athlete, resulting in the loss of a corporate endorsement. Also, a PR firm could be sued by a lobbying organization because they did not succeed in changing public opinion regarding a certain issue.
Due to the possibility of facing expensive lawsuits, public relations consultants should consider purchasing professional liability, also know as errors and omissions (E&O) insurance. This Tennessee public relations insurance covers you for the financial consequences of any mistakes you, or your staff, may make in providing professional advice. It also protects against allegations of professional misconduct or negligence to help safeguard your personal and business reputation.
If you're sued, your legal bill could easily reach six figures. Think about all of the potential costs:
Professional liability insurance can cover these expenses, shielding you from the high price of a lawsuit.
You have to decide what level of cover is enough for you. Consider what you do, who you do it for and how much it's worth. Think about worst-case scenario and what could go wrong. Always bear in mind that it better to have too much coverage a opposed not enough. Your legal defense can be very costly. Your Tennessee public relations insurance coverage has to be enough to cover all of this.
Commercial General Liability Insurance: General liability protects your firm from a variety of claims, including property damage and bodily injury. For example... If you're meeting with a client and spill coffee on their laptop, you're legally liable for causing the damage (and potentially for loss of documents and data, too). Also, slip and fall type accidents in your TN office are covered as well.
Workers Compensation: Workers comp for PR firms covers the cost of compensation if an employee of your business is injured or becomes ill as a direct result of the work they undertake for your firm. If your firm has any employees you are required to hold an employers' liability insurance policy by law in most states.
Directors and Officers Liability: This Tennessee public relations insurance protects directors and officers of your firm if there is a lawsuit claiming they managed it without proper regard for the rights of others. The policy will pay any judgment for which you are legally liable, up to the policy limit. It also provides for legal defense costs, which can be substantial even where there has been no wrongdoing.
Business Owner's Policy (BOP): BOP insurance bundles basic coverage from property and liability risks into one package. This type of Tennessee public relations insurance often includes coverage for property, liability, crime, and flood. BOP also often includes business interruption insurance, which reimburses you up to a year of lost revenue from damages. BOP insurance does not include coverage for E&O and commercial vehicles. TN workers' comp, health, and disability insurances are also not part of a BOP.
You know you need public relations insurance to protect your firm. But how much do you need to set aside in your budget to cover the costs? Your insurance costs vary depending on your firm's size, location, among a other factors. Talk to a professional insurance broker to get more information.
If you're a entrepreneur, you need more than just a great products and services and a well-established business model to be a success; you also need to choose the right location for your organization. No matter how awesome your ideas are, if your business isn't located in a place where what you offer will provide value to consumers, you're going to struggle to succeed.
Whether you're thinking about setting up the headquarters of your organization or you're planning on opening a branch of your company in Tennessee, familiarizing yourself with the economic trends and the requirements for commercial insurance in the state is crucial for your success. Below, we offer insights regarding job growth and insurance coverage requirements in The Volunteer State.
In regard to job growth, the state of Tennessee is exceeds the rate of national job growth. As of February 2019, unemployment rates were at a historic low in The Volunteer State, with a rate of 3.2% throughout the state; 0.1% lower than the last historic low of 3.3% in October of 2018. That's lower than the national unemployment rate, which was reported to be 3.8% in February of 2019. Economists are forecasting continued job growth throughout the state into 2019.
In addition to positive job growth, the state of Tennessee offers other favorable conditions for entrepreneurs. No personal income tax and more training and education opportunities for the workforce are just some of the factors that make The Volunteer State a great place for business owners of both established companies and startups. While the entire state offers favorable conditions for businesses, the eastern and middle areas are considered the best to start a business; this includes big cities like Nashville and Knoxville; however, cities throughout the state are also offering great opportunities for business operations, such as Chattanooga, Memphis, Pigeon Forge, Alcoa, Lebanon, and Crossville.
Industries that are thriving in Tennessee include:
The Tennessee Department of Commerce & Insurance regulates insurance in Tennessee. Just like any other state in the country, there are regulations in place regarding commercial insurance. Business owners are required to carry certain types of coverage to protect themselves, their clients, and their employees.
Small businesses with 5 or more employees are required by TN state law to have workers comp insurance coverage. That drops to 1 or more employees if they operate in the construction business or trades (construction service providers).
If you use certain types of motor vehicles for business-related purposes, you'll also need to invest in commercial auto insurance coverage to protect your drivers, as well as other drivers on the road.
Learn about small business media liability insurance - a specialized form of professional liability insurance that provides protection for legal claims brought by third parties.
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.
Request a free Tennessee Public Relations insurance quote in Alcoa, Arlington, Athens, Atoka, Bartlett, Bloomingdale, Brentwood, Bristol, Brownsville, Chattanooga, Church Hill, Clarksville, Cleveland, Clinton, Collegedale, Collierville, Columbia, Cookeville, Covington, Crossville, Dayton, Dickson, Dyersburg, East Ridge, Elizabethton, Erwin, Fairfield Glade, Fairview, Farragut, Fayetteville, Franklin, Gallatin, Germantown, Goodlettsville, Green Hill, Greenbrier, Greeneville, Harriman, Harrison, Hartsville, Henderson, Hendersonville, Humboldt, Jackson, Jefferson City, Johnson City, Kingsport, Kingston, Knoxville, La Follette, La Vergne, Lakeland, Lawrenceburg, Lebanon, Lenoir City, Lewisburg, Lexington, Loudon, Lynchburg, Manchester, Martin, Maryville, McKenzie, McMinnville, Memphis, Middle Valley, Milan, Millersville, Millington, Morristown, Mount Juliet, Munford, Murfreesboro, Nashville-Davidson, Newport, Nolensville, Oak Ridge, Oakland, Paris, Pigeon Forge, Portland, Pulaski, Red Bank, Ripley, Savannah, Sevierville, Seymour, Shelbyville, Signal Mountain, Smyrna, Soddy-Daisy, South Cleveland, Spring Hill, Springfield, Sweetwater, Tellico Village, Tullahoma, Union City, White House, Winchester and all other cities in TN - The Volunteer State.
Also learn about Teneessee small business insurance requirements for general liability, business property, commercial auto & workers compensation including TN business insurance costs. Call us (901) 255-6544.