Public Entity Insurance In Oregon
Public entities are faced with a wide range of risk exposures on a regular basis. These liability exposures and property risks are very different from the ones that commercial corporations and other types of businesses face. Therefore, it is necessary to obtain Public Sector Insurance that specializes in meeting the unique needs of cities, counties, water districts, fire departments and all other public districts.
The main objective when shopping for the right coverage is to carefully balance your most important coverage needs against the increasing pressure to keep costs under control. Public budgets these days are incredibly difficult to manage. This means that your needs are constantly changing, which means you need to create a strategic plan.
Available Coverage Options For Public Entities
You are well aware of the most common Public Entity Insurance coverage options, which includes property insurance, liability insurance and workers compensation insurance. However, you may not be aware that there are also a number of additional coverage options available that are extremely important to public entities, such as:
- Errors and omissions insurance
- Employment practices liability insurance
- Cyber liability
Errors and omissions insurance will cover public entities in the vent that they are held responsible for a service that was provided or failed to provide that did not achieve the results that were expected. This type of coverage is most commonly known in the health care industry as malpractice insurance.
The members of a fire department have been known to benefit greatly from Public Sector Insurance policies that included quality errors and omission insurance coverage. For example, a house catches on fire and these brave men and women rush to make certain everyone in the home makes it out to safety.
However, in the midst of all the lifesaving that was going on, they did not realize that one of the victims twisted an ankle as they were being rushed out of the blaze. The injured person decides to sue the fire department. Whether or not a judge rules that the injured party is entitled to some form of compensation does not matter. The cost of court defense and other legal fees could be a devastating blow to the department's budget.
Employment practices liability insurance is designed to provide coverage for public entities against claims by workers that say they have experience a violation of their rights. Some of the most popular claims that are made include discrimination, sexual harassment and wrongful termination. However, the list of claims that you could find yourself defending against is rather long.
Finally, cyber liability insurance is the one type of insurance coverage from which every type of organization can benefit. With such a major part of the world population depending on the Internet and computers to perform hundreds of tasks each and every day, this is one of the greatest risks that any business needs protection from these days.
As a public entity, it is very common to collect and store sensitive information from several members of the public. As long as this type of information remains on your database, it is vulnerable to a cyber attack. The attack may come from a criminal hacker that is looking to steal identities or credit card numbers. A disgruntle employee may decide to take out their anger with a cyber attack that causes major damage.
However, not all cyber liability risks are intentional. In some cases, a simple lost laptop or overseen password entry can lead to the undoing of an organization. The smallest oversight or mistake could lead to lost, stolen or exposed public data, which in turn could cost the public entity a considerable amount of time and money to overcome and move forward.
In order to make certain that you obtain the all of the right coverage with your Public Entity Insurance policy, you must first understand you needs. That is where working with a knowledgeable agent becomes incredibly beneficial.
An Insurance Provider That Understands Your Coverage Needs
In the litigious environment that we currently live in, public entities are often seen as being some of the easiest targets due to their size. Fortunately, at Ferranti-Graybeal Insurance Agency, Inc., the majority of the pools that we deal with have wide ranging policies that will address all of your coverage needs.
As a matter of fact, working with public entities is one of our primary focuses and we are the insurance agency for some of the largest public entities in our area. We have more than forty years of experience with meeting the unique insurance needs of public entities. All you need to do to get on track with a Public Sector Insurance policy that will provide the coverage you need at a price that will fit into your budget is to click on the quote request button now.