Professional Liability Insurance: What Every Business Needs to Know

Posted under Uncategorized.

Why errors, omissions, and expert advice matter more than ever

In today’s business environment, professionals face increasing pressure to deliver quality results while navigating complex client demands. One simple mistake—like a missed deadline, miscommunication, or incomplete service—can lead to a costly lawsuit. That’s where professional liability insurance steps in.

Whether you call it Errors & Omissions (E&O), malpractice insurance, or professional indemnity coverage, this policy is essential for anyone who offers advice, designs, or specialized services.

What Is Professional Liability Insurance?

Professional liability insurance protects professionals against claims of negligence, mistakes, or failure to deliver promised services. It helps cover legal defense costs, settlements, and judgments—expenses that could otherwise cripple a business.

Coverage may include:

  • Negligent acts or errors
  • Missed deadlines or undelivered services
  • Alleged breach of contract
  • Copyright infringement
  • Misrepresentation or inaccurate advice

Unlike general liability insurance, which covers physical injury or property damage, professional liability focuses on the financial harm caused by professional mistakes or failure to perform.

Different Names, Same Purpose

Depending on your industry, this insurance might go by different names:

  • Medical malpractice insurance – For healthcare professionals
  • Errors & omissions (E&O) insurance – For consultants, financial advisors, real estate agents, and more
  • Directors and officers (D&O) insurance – For board members and executives making critical decisions

The common thread? All protect against the financial fallout from professional mistakes or accusations.

Why It Matters—Even If You’re Careful

Even the most experienced and detail-oriented professionals can face allegations of wrongdoing. Clients can sue not only for actual errors but also for perceived negligence. Without proper coverage, legal defense costs alone can be overwhelming.

Professional liability insurance gives you:

  • Peace of mind
  • Legal defense resources
  • Financial protection against costly claims
  • A more professional appearance to your clients

Tailored Coverage Is Key

Not all policies are created equal. Coverage varies by profession and risk exposure. Some industries—like tech, healthcare, and finance—require more robust coverage due to higher risks and stricter regulations.

Work with an experienced insurance advisor to:

  • Understand your specific exposures
  • Choose the right policy features
  • Ensure your limits match your business needs

Final Thoughts

Professional liability insurance isn’t just a good idea—it’s a business necessity. If your work involves providing advice, making decisions on behalf of others, or offering a specialized service, this coverage can protect your livelihood and reputation.

Need help reviewing your current policy or getting a quote? Contact us today to ensure your business is covered where it counts.

7 Tips to Prevent Lithium-Ion Battery Fires in Your Home

Posted under Homeowner’s Insurance, Safety.

From smartphones and laptops to e-bikes, power tools, and scooters—lithium-ion batteries are everywhere. While they’ve revolutionized convenience and mobility, they also come with a serious safety risk: fire.

More and more home insurance claims are tied to lithium-ion battery fires. When these batteries overheat or are damaged, they can ignite suddenly and burn intensely. Here are 7 essential tips to help protect your home and family.

1. Use the Charger That Came With the Device

Always use the manufacturer-approved charger and cable. Off-brand chargers may not have proper voltage control and can overcharge or overheat the battery.

2. Avoid Charging Overnight or Unattended

It’s tempting to leave devices plugged in overnight—but that’s also when most lithium battery fires start. Unplug as soon as the battery is full and avoid charging when you’re not home or awake.

3. Charge on Hard, Non-Flammable Surfaces

Never charge batteries on beds, couches, or near flammable materials. Use a flat, dry, and fire-resistant surface, like a countertop or concrete floor.

4. Don’t Ignore Signs of Damage or Swelling

If a device is overheating, leaking, has a strange odor, or the battery looks swollen—stop using it immediately. A damaged lithium battery can fail without warning.

5. Store Batteries Safely

Keep batteries away from direct sunlight, extreme heat, or cold. Don’t store them in your car, garage, or near water heaters and furnaces.

6. Buy Certified Devices and Batteries

Look for products that are certified by organizations like UL (Underwriters Laboratories). Cheaper knockoffs may not meet essential safety standards.

7. Dispose of Batteries Properly

Never throw lithium-ion batteries in the trash. They can spark fires in garbage trucks or landfills. Instead, take them to a certified recycling center or hazardous waste facility.

Why It Matters for Your Insurance

Fires caused by lithium-ion batteries are fast, hot, and destructive. If a fire starts, it could result in serious property damage or worse—injury to loved ones. Many homeowners are surprised to learn that fire damage from rechargeable devices is a growing category in home insurance claims.

By practicing these simple safety habits, you can reduce your risk, protect your home, and potentially avoid a costly claim.

Want a home insurance review to make sure you’re fully covered? Reach out today. We’ll help you understand your policy and ensure you have the right protection in place.

When To Call Your Insurance Agent… Now

Posted under Auto Insurance, Commercial Insurance, Homeowner’s Insurance, Life Insurance, Personal Insurance.

We strongly believe in developing relationships with our customers. Insurance is not a product; it is a trusted relationship between the agent, insurer, and customer. We are always ready and willing to help you better understand your insurance and help with any questions you may have. 

The Value of Your Local Independent Agent

  • Local independent insurance brokers can tailor your insurance coverage to your specific needs because they work directly with you and the insurance companies.
  • Insurance is what independent insurance agents live, think, and breathe. Because it’s their business, they’ll be able to explain any difficult policies or rate adjustments in a way you can trust. They’ve dealt with a variety of insurance providers throughout the years and are familiar with how each one operates.
  • Because your independent insurance agent is not employed by an insurance business, he or she is referred to as “independent.” They work with a variety of insurance carriers, but they are mostly focused on you!

Good Reasons To Connect With Your Agent

  • If you no longer live in your covered house, please contact us; your policy will need to be revised or amended to reflect this change.
  • If you purchase or receive new valuables such as jewelry, antiques, art, or collectibles, contact your agent to ensure you have adequate coverage.
  • You make the decision to work from home (home-based business). A basic business insurance policy might be necessary to protect you and your new venture.
  • You may need to make adjustments to your home insurance coverage if the people who live with you or in your home change. Your auto insurance rates may be affected by changes in your household as well.
  • Significant renovation or additions to your property will almost certainly necessitate a change in the amount of dwelling coverage on your home insurance policy.
  • Insurance is required for vacation homes, cabins, rental properties, hunting land, and leased property. Please contact us if you are interested in purchasing a new property or making changes to an existing one.

If you have any questions about your insurance; please call our office; we are here to help.

Five Things Every Homeowner Can Do to Prevent Losses and Save on Insurance Costs

Posted under Auto Insurance, Homeowner’s Insurance.

Owning a home is one of life’s biggest investments, and protecting it is crucial. While insurance provides a safety net, homeowners can take proactive measures to reduce losses, improve safety, and potentially lower insurance premiums. Here are five essential tips every homeowner should consider:

1. Install a Home Security System

Investing in a modern home security system can deter break-ins and protect your property. Most systems now include smart features like motion sensors, cameras, and remote monitoring through a smartphone app. Many insurance companies offer discounts for homes equipped with monitored security systems, as they significantly reduce the risk of theft.

2. Maintain Your Home’s Exterior

Regular upkeep of your home’s roof, siding, and foundation prevents costly damage from weather events or aging materials. Key tasks include:

  • Inspecting the roof for missing or damaged shingles.
  • Cleaning gutters to prevent water damage.
  • Sealing cracks in the foundation to avoid flooding or pest infestations.

Insurance providers often reward homeowners who take proactive measures to keep their property in good condition with lower premiums.

3. Upgrade to Safety Features

Adding or upgrading safety features in your home can prevent accidents and qualify you for additional discounts. Examples include:

  • Smoke detectors and carbon monoxide alarms on every floor.
  • Fire extinguishers in accessible areas like the kitchen.
  • Deadbolt locks and reinforced doors.
  • Storm shutters or impact-resistant windows for areas prone to severe weather.

4. Address Plumbing Issues Early

Water damage is one of the most common—and costly—home insurance claims. Protect your home by:

  • Inspecting for leaks regularly in sinks, toilets, and water heaters.
  • Replacing old pipes that may be prone to bursting.
  • Installing a water leak detection system, which can alert you to leaks and shut off water automatically.

Many insurers offer discounts for installing leak detection systems, as they help prevent expensive water damage claims.

5. Conduct Routine Maintenance and Upgrades

Regular maintenance reduces the likelihood of major repairs and demonstrates responsible homeownership. Some valuable upgrades and maintenance tasks include:

  • Upgrading electrical systems to handle modern appliances safely.
  • Pruning trees and shrubs to minimize the risk of falling branches during storms.
  • Securing outdoor structures like sheds and fences to withstand high winds.

In some cases, modernizing your home with energy-efficient appliances or solar panels can lead to additional savings on your homeowner’s policy.

The Bonus: Bundle Policies

While not directly a loss-prevention tip, bundling your home and auto insurance with the same provider often results in significant discounts. Talk to your agent about other cost-saving options tailored to your specific needs.

By taking these five steps, homeowners can create a safer environment, reduce the likelihood of losses, and potentially lower their insurance costs. Prevention not only saves money but also gives you peace of mind, knowing your home is well-protected. Connect with your insurance provider to learn more about discounts and incentives for implementing these changes!

We Offer A Better Way To Buy Insurance

Posted under Auto Insurance, Commercial Insurance, Homeowner’s Insurance, Life Insurance, Personal Insurance.

Some people buy insurance online without really knowing or understanding what they are buying. Some people use an agent but really don’t fully understand the process of securing insurance. Most people buy homeowners’ insurance, auto insurance, or business insurance to protect their interests. Insurance can be a very important part of your long-term financial plan. A good insurance agent can be an incredible asset to you and your family. Let’s face it when your home is burning, you want someone who is there to come alongside you and help you through a tough time.

We are here to offer a different way of discovering insurance.  

  • We are experienced and professional. We take your insurance seriously.
  • Our goal is to be your trusted advisor. We know and understand your risks.
  • Customized options are the best way to buy insurance. You are unique and deserve unique insurance options.
  • We live and work in your community.

The goal of the independent agent is to provide the best possible combination of coverage, price, and service. For example, independent agents have experience in understanding what services insurance companies provide and can match unique services with client needs. Not all insurance agencies are alike.

Foreign Product Liability vs. Domestic Product Liability: Key Differences

Posted under Commercial Insurance.

Product liability insurance is a crucial coverage for businesses that manufacture, distribute, or sell goods. However, when products are sold internationally, the risk landscape changes. Many companies are unaware of the differences between foreign and domestic product liability insurance. Understanding these distinctions is critical for businesses that operate across borders.

1. What Is Domestic Product Liability Insurance?

Domestic product liability insurance covers claims that arise from products sold within the same country where the business is based. If a company manufactures a product in Texas and sells it within the United States, a standard Product Liability Insurance policy would cover bodily injury, property damage, and legal fees resulting from product-related incidents.

Key coverage areas include:

  • Manufacturing defects
  • Design defects
  • Failure to warn (inadequate labeling or instructions)

2. How Foreign Product Liability Differs

When a company exports products to other countries, Foreign Product Liability Insurance is required. This coverage accounts for legal and regulatory differences in international markets.

Key differences include:

  • Legal Variations: Different countries have distinct liability laws, making foreign coverage essential.
  • Jurisdiction Risks: Some countries have stricter product safety laws and more aggressive consumer protection regulations.
  • Import Regulations: Some nations require companies to have local insurance policies to conduct business.

Without proper Foreign Product Liability Insurance, a company may find itself exposed to costly lawsuits and compliance issues in foreign markets.

3. Why Businesses Need Both Coverages

For companies selling internationally, having both domestic and foreign product liability insurance is crucial. Some key reasons include:

  • Protection from overseas lawsuits
  • Compliance with foreign regulations
  • Safeguarding against recall costs and legal fees

Final Thoughts

Understanding the difference between domestic and foreign product liability insurance is crucial for businesses operating globally. By working with an experienced insurance agent, companies can ensure they have the right coverage for both local and international markets.

EEOC Warns About Us Artificial Intelligence

Posted under Uncategorized.

Artificial Intelligence (AI) has revolutionized various industries, including Human Resources (HR), by automating processes, streamlining recruitment, and enhancing decision-making. AI in HR is often touted as an efficient, unbiased tool to find the best talent. However, concerns have arisen about AI’s potential to discriminate in HR practices. In this article, we will explore how AI might unintentionally perpetuate biases and discrimination in hiring and other HR processes.

Data Bias

AI systems in HR often rely on historical data to make predictions and recommendations. The problem is that this historical data can contain biases. If past hiring decisions were made with human biases, AI algorithms trained on such data might perpetuate these biases, leading to discriminatory outcomes.

For example, if a company historically favored candidates from certain demographics, an AI system might inadvertently prioritize candidates with similar characteristics, even if they are not the most qualified for the job.

Algorithmic Bias

Algorithms play a pivotal role in AI’s decision-making processes. The design and configuration of these algorithms can introduce biases if not carefully crafted and tested. Biases can creep in through various stages of AI development, including data preprocessing, feature selection, and model training.

Algorithmic biases can result in the over- or under-representation of certain groups. For instance, if an AI system identifies attributes like names or locations as predictive of job performance, it might disadvantage individuals with names or locations associated with underrepresented groups.

Lack of Transparency

Another challenge with AI in HR is the lack of transparency. Most AI models are considered “black boxes,” meaning their inner workings are not easily interpretable. This opacity can make it difficult to identify and rectify biases in the system. HR professionals may not be able to explain why an AI system made a particular recommendation or decision, leading to mistrust and frustration.

Amplifying Existing Inequalities

AI-driven recruitment tools may also perpetuate existing inequalities in the job market. For example, if a company primarily recruits from elite universities, an AI system may continue this trend, even if the talent pool from other institutions is equally or more qualified. This practice exacerbates disparities in opportunity, hindering diversity and inclusion efforts.

Mitigating AI Discrimination in HR Practices

Addressing AI discrimination in HR is essential for creating a fair and diverse workforce. Here are some steps that organizations can take to mitigate these issues:

  • Diverse Training Data: Ensure that the training data for AI systems is diverse and free from historical biases.
  • Regular Audits: Conduct regular audits of AI systems to identify and address biases. It’s important to have checks and balances in place to monitor the technology.
  • Transparency: Encourage AI developers to create more transparent systems so that HR professionals can understand and interpret the decision-making process.
  • Bias Mitigation Algorithms: Invest in the development of algorithms that actively detect and mitigate biases in real-time.
  • Inclusive AI Development Teams: Form diverse teams when designing and implementing AI systems to consider various perspectives and reduce the risk of unconscious biases.

AI in HR has the potential to be a valuable tool for improving hiring and other HR practices. However, the risk of discrimination through AI systems is real and should not be underestimated. Organizations must be vigilant in addressing this issue, working towards creating more inclusive and unbiased HR processes, and promoting diversity and equal opportunities in the workforce. By understanding the potential pitfalls and taking proactive steps, we can harness the benefits of AI while minimizing its capacity to discriminate.

PlatinumOne -Bukaty Co. Join Forces

Posted under Auto Insurance, Benefits of Being Independent, Commercial Insurance, News and Announcements.


PlatinumOne Insurance Agency is excited to announce our merger with Bukaty
Companies, bringing together two trusted insurance leaders in Kansas City to build a
stronger and more innovative insurance agency to serve you – our valued clients.
Your trust and satisfaction are the top priorities of the new partnership. We will have
the same leadership and service team that has served clients in the past and we will
bring access to more markets and resources to bring additional insurance solutions to
you.
Our office location will be 4601 College Blvd., Leawood, KS 66211. You can count
on the same personal service you have come to expect from us. Our commitment to
our community will remain the same.

Please do not hesitate to give us a call with any questions 913-451-4800.
Brad Runnebaum
Jeff Hartman
and the PlatinumOne Team

Three Ways to Know You Have the Right Commercial Business Insurance

Posted under Commercial Insurance.

Running a business comes with many challenges, and ensuring you have the right insurance is one of them. Many business owners believe they’re covered—until they experience a loss and realize their policy has gaps. Here are three ways to know you have the right commercial business insurance.

1. Your Coverage Matches Your Industry Risks

Not all businesses face the same risks, so your insurance should be tailored to your industry. A tech startup has different needs than a construction company, and a restaurant requires different coverage than a retail store. Make sure your policy covers your specific exposures, such as:

  • Professional Liability Insurance for service-based businesses
  • Product Liability Insurance if you manufacture or sell goods
  • Commercial Auto Insurance if your company uses vehicles

If your policy doesn’t align with your industry’s risks, you may need to adjust your coverage.

Lawsuits are more common than ever, and a single claim could put your business in financial jeopardy. The right commercial insurance should protect you from:

  • Employee-related claims, such as wrongful termination or harassment (Employment Practices Liability Insurance)
  • Cyber threats, if you handle sensitive customer data (Cyber Liability Insurance)
  • Property damage or business interruptions, ensuring you can recover from disasters

If your current policy doesn’t account for these risks, it’s time to review your coverage.

3. You Understand Your Policy Limits and Exclusions

Many business owners only discover gaps in coverage when they file a claim. Reviewing your policy’s limits and exclusions ensures you won’t be caught off guard. Ask yourself:

  • Do I have enough liability coverage to protect against high-dollar lawsuits?
  • Does my business interruption insurance cover lost revenue if I need to shut down temporarily?
  • Are there exclusions that could leave me vulnerable?

If you’re unsure about your coverage, consulting with an experienced insurance professional can help you identify potential gaps.

Final Thoughts

Having the right commercial business insurance isn’t just about having a policy—it’s about having the right policy. If you’re uncertain about your coverage, a policy review can give you peace of mind and ensure you’re protected from unexpected risks.

Five Coverage Types Businesses Must Have but May Not Know About

Posted under Commercial Insurance, Cyber Liability.

Many businesses carry standard policies like General Liability and Workers’ Compensation, but there are lesser-known coverages that can make a huge difference when disaster strikes. Here are five essential coverages your business needs—but may not have.

1. Cyber Liability Insurance

Cyberattacks are on the rise, and small businesses are a prime target. If your business handles customer data, processes payments, or stores sensitive information, cyber liability insurance is critical. This coverage can help with:

  • Legal costs if customer data is breached
  • Notification and credit monitoring expenses
  • Ransomware attack payments

Many businesses assume their standard liability policy includes cyber protection—it doesn’t.

2. Business Interruption Insurance

If a fire, flood, or other disaster forces your business to shut down, how will you pay your expenses? Business interruption insurance covers lost revenue and operating costs while you recover. This is especially important for businesses with physical locations, such as restaurants, retail stores, and manufacturing companies.

3. Employment Practices Liability Insurance (EPLI)

Lawsuits from employees are among the most expensive claims a business can face. EPLI protects you against claims related to:

  • Discrimination
  • Wrongful termination
  • Harassment

Even businesses with strong HR policies can face legal action, making EPLI a must-have.

4. Inland Marine Insurance

Despite its name, this coverage isn’t about boats—it protects business property that moves. If you transport equipment, tools, or inventory, standard commercial property insurance may not cover damage or theft while in transit. Inland marine insurance ensures your valuable business assets are protected wherever they go.

5. Commercial Umbrella Insurance

Most liability policies have limits, but lawsuits and claims can exceed those limits. Commercial umbrella insurance provides extra protection beyond your primary policies, giving your business an added layer of security against large claims.

Final Thoughts

Many businesses assume their standard policies cover all risks, but gaps in coverage can lead to financial devastation. A business insurance review can help identify missing coverage and ensure you’re fully protected. If you’re unsure about your coverage, let’s talk—protecting your business is our priority.