Business interruption insurance covers for loss of earnings during a temporary halt in business caused by a major disaster, such as fire or theft. Workers compensation insurance , mandatory in Maine, covers treatment of injuries and loss of pay related to employee accidents or illnesses on the job. Fidelity bonds , placed on employees with access to cash receipts or other company funds, covers for loss from embezzlement. Employee health and life insurance provides workers and dependents with financial benefits in case of illness or death. If a staff is too small to qualify for group benefit policies, an owner can take out individual policies for each.
Employers usually have to set aside benefit funds for workers who belong to labor unions.
Seek help and open dialog with an insurance agent from a reputable insurance carrier. Your insurance agent Seek help and open dialog with an insurance agent from a well-known insurance carrier. Trade associations often offer special rates and policies to their members. An agent or broker who specializes in business insurance can help you plan your business insurance program. The Maine Insurance Commission regulates all insurance business in Maine.