Vicarious liability is a legal term of which all employers and business owners should be very aware of and your vicarious liability should always be taken into consideration when making any business decision that involves having others conduct an activity on your or your business’ behalf.
Harvest time is without doubt one of the busiest times of the year for many transport operators and when we say transport operator, there are actually two types of transport operators.
I would love a dollar for every time we hear these old excuses: ‘I told them the brakes were dodgy’ or ‘they tried to beat me and cut in front of me when their lane was ending’ or ‘they tried to bag me up on the inside on a roundabout’.
Far too many get caught up in the excitement of going into business for themselves that they miss some critical steps that can make or break a business.
If you happen to have been one of the unfortunates who have had to make a claim on their commercial truck insurance policy in the last couple of years, it is more than likely you would have suffered from a certain degree of heightened anxiety after you had received the verdict from your insurer’s claims manager or their loss adjuster (assessor).
All industries experience cycles of expansion and contraction, insurance is no different. Although no two cycles are exactly the same, insurance industry cycles typically last between three to 10 years and are known as a hard market and a soft market.
You ask what being a professional has got to do with insurance? In one word, everything.
Everything, is the answer to that question and if you think you don’t need it, think again. It can be as simple as stealing money from your credit/debit card or even a fuel card.
We are always being asked by our clients whether it would be beneficial to their business and will it reduce their insurance premiums if they install a dashcam, in-cabin cameras and or a facial recognition camera in their vehicles.
You don’t have to, it’s up to you. But, before you go it alone, it would be a good idea to take some notes of the following and read everything, then read it again, then read it again until you understand it.