According to Forbes Magazine, there were 76,000 personal injury cases filed against businesses in 2014. By 2017, that number had decreased to 53,000. Despite the decrease, your business may still be liable for injuries to customers that happen on your property.
One of the reasons that business owners are particularly vulnerable is that they are easy to locate. Therefore, you may face liability for an accident that was actually the fault of an unidentifiable third party if it happened to take place on your property. You need to take extra steps to prevent claims in the first place and protect yourself if they do occur. Here are a couple of ways to do that.
Hire on-site security
Hiring security staff from a reputable third party allows you and your staff to focus on running your business rather than dealing with potential liabilities involving security incidents. It shows your customers that you have made an investment in their safety, thereby providing you with better optics.
Security guards receive extensive training and vetting so the chance of an altercation erupting with a customer is small. However, should such an incident occur, the security company usually insures the guards it hires with general liability coverage.
Ensure sufficient insurance coverage
Without insurance that covers premises liability, you could end up paying a customer’s medical bills out of your own pocket even if the injury was the fault of someone else, such as a bite from another customer’s dog. While it is important to obtain coverage as soon as possible, you should do your due diligence before purchasing. Investigate the company’s payout reputation and any exclusions in the policy.