Question

How does commercial insurance affect discuss Occupational Injury and Disease? What is the difference between commercial and personal insurance.

Answer 1

How Does Commercial Insurance Affect?

Ans-The commercial insurance definition is simply insurance you buy that is designed to protect you from unforeseen circumstances that can affect your business.But “commercial insurance” is a catch-all phrase, it’s an umbrella under which several different insurance policies can be found, all offering varying degrees of protection for distinct business types. The insurance can protect your properties, income, employees and even you from liability.If you’re a company installing scaffolding on high-rises for exterior maintenance, you’ll need completely different coverage than, say, a doctor or even someone who paints interiors for a living.

As a business owner, you know how important it is to protect your company with the right insurance coverages. However, the insurance industry is confusing and mysterious for many people. One of the most asked questions is how an insurance company calculates a business’s insurance rates. To clear things up, here are some of the factors that can affect your company’s insurance premiums.

Factors That Affect are-

1)Risk

Certain industries are naturally higher risk than others. For instance, the risk of employee injury is exponentially higher at a construction company than it would be at a retail company. Understandably, the riskier your business is to insure, the higher your insurance premiums will be. On the plus side, lower risk companies will experience lower rates.

2)Location

The location of your business’s building will also influence your commercial insurance rates. For instance, if your business is located in an area prone to extreme weather events (such as floods, earthquakes, hurricanes, etc.), then you are at a higher risk for damage. This, in turn, will translate into higher insurance rates. Additionally, if your company is located in an area with high crime rates, then you will also be subject to higher insurance costs. This is because insurance companies view your business as more likely to sustain damage from vandalism and break-ins.

3)Claim History

Finally, your business’s insurance history can also affect your rates. If your company has filed several claims throughout the years, you should expect your rates to be on the higher side. This is because your extensive claims history has proven your business to be riskier.

q2.discuss Occupational Injury and Disease?

Ans-

An occupational injury is when a person is harmed as a result of a specific on-the-job accident where the exact date and cause can be determined. An occupational disease, on the other hand, is a type of work injury that occurs over time and causes chronic ailment preventing you from performing your job duties or from possibly ever working again.

The main difference between an occupational injury and disease is that occupational diseases do not derive from one particular incident, but rather happen over a period of time or series of repetitive actions.

Common Occupational Injuries and Diseases

Here are some of the most common occupational injuries that occur in the U.S:

• Slip and falls – Often, a slip and fall accident can occur by tripping on a wet floor. An employee (or customer) may also trip over objects that are improperly stored, or perhaps they simply weren't paying attention to what was in front of them.
  
• Overexertion – Overexerting past the body's limits has consistently been one of the top occupational injuries. Overexertion can happen due to strenuous repetitive motions, as well as weather conditions such as heat-related injuries or cold hazards.
  
• Falling objects – This occurs when boxes or other objects fall from shelves or are dropped by other workers. Falling debris or objects is routinely a factor in construction site accidents.
  
• Machinery – A worker can be caught or possibly compressed by heavy machinery and become seriously injured or killed.
  
• Multi-story falls – Falls from multiple stories most commonly occur in construction zones. Plunging from high buildings, off ladders and other equipment can easily result in serious injury or death.
  
• Lifting – Improperly lifting heavy objects can result in serious, chronic back injuries. No approach has been found to completely eradicate risk of injury from lifting heavy objects; however, safety awareness and planned work tasks have been shown to reduce the danger.
  
• Car accidents – Driving is dangerous, and people who spend a lot of time on the road for their job are exposed to great risk every day. Getting into work-related car accident may mean you have both a workers' comp and personal injury case.

Listed below are some of the most common occupational diseases that workers suffer from:

• Carpal tunnel – CTS is a very common disease that many people deal with after using their hands and wrists repetitively.  Learn more about Carpal Tunnel Syndrome…
  
• Chemical poisonings – Toxic exposure is one of the most common causes of occupational disease in the U.S. In fact, the CDC states that more than 13 million American workers are exposed to hazardous chemicals that can be absorbed through the skin. Many employers focus on preventing inhalation of the toxic chemicals, but skin exposure can be just as dangerous.
  
• Poison from pesticides – Between the years of 1987 and 1989, 50% of the occupational diseases that occurred were due to people being exposed to pesticides. The skin and respiratory system are usually the most affected by pesticides; however, the nervous system and gastro intestinal track can be harmed as well.
  
• Asbestos – Many people suffer from mesothelioma due to unknowingly ingesting asbestos on construction sites and other places.

q3.What is the difference between commercial and personal insurance?

Ans-

These include:

• Higher risks. A commercial vehicle is typically used far more often than a personal vehicle, and often involves carrying abnormal loads. For this reason, there is a higher chance of damage to the vehicle or of it being involved in an accident. Because of these increased chances, there is more risk with insuring commercial vehicles than with insuring vehicles for personal use.

• Higher premiums. Because of the higher risk with insuring commercial vehicles, your premium – the monthly fee that you pay an insurance company – will be higher. At the same time, commercial vehicles such as large trucks are much more expensive than smaller cars, and so will need to be insured for a higher value, which also adds to the higher premiums.

• Multiple drivers. In many cases, more than one person will drive a commercial vehicle. For example, if your business has a fleet of vehicles, you may employ several drivers, while if you own trucks for transporting goods, you may have a team of truck drivers. For this reason, a commercial vehicle insurance policy needs to extend to every driver.

• Transporting non-owned goods. In a business environment, you could often be transporting goods in your vehicle that don’t belong to you. If something happens to them, for example they’re damaged in an accident or stolen, commercial insurance covers the replacement of those goods even though they don’t belong to you.

• Broader geographical cover. Businesses in the transport industry especially may involve using commercial vehicles to travel far distances, even into neighboring countries. Commercial car or truck insurance therefore needs to give you the option to cover the vehicle in several different countries or territories.