Essential Business Insurance Coverage for Other Justice, Public Order, and Safety Activities (NAICS 922190)

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Understand the top insurance needs for businesses providing other justice, public order, and safety activities including general liability, professional liability, property, commercial auto and more.

Key Takeaways

  • Consider general liability, professional liability, property, commercial auto and workers’ compensation as essential coverage
  • Review cyber liability and business interruption policies given increasing risks
  • Understand coverage benefits, common use cases and estimated pricing tailored for NAICS code 922190 industry

Introduction

Businesses engaged in other justice, public order, and safety activities often handle sensitive personal information and face liability risks through daily operations. Maintaining proper insurance coverage is crucial to mitigate financial exposure from incidents and protect the long-term survival of the business. This article examines the top business insurance policies businesses in NAICS code 922190 should consider including general liability, professional liability, property, commercial auto, workers’ compensation, cyber liability and business interruption insurance.

General Liability Insurance

General liability insurance is an essential risk management tool for businesses in the Other Justice, Public Order, and Safety Activities industry. It protects these organizations from liability risks and lawsuits that may arise from accidental harm or losses caused to third parties through day-to-day operations.

General liability insurance provides coverage for bodily injury, property damage, personal injury and advertising injury claims brought by third parties. It can help pay for legal defense costs and damages awarded through litigation. The estimated average annual cost for general liability insurance for businesses in this industry is around $2,500, based on typical premium rates.

Category List
Benefits
  • Covers legal fees and costs if a third party sues your business for bodily injury or property damage
  • Protects you from lawsuits accusing your business of negligence or causing harm
  • Covers medical expenses for people injured on your property or through your operations
  • Covers damage to third-party property through accidents or incidents related to your business operations
  • Pays for cleanup or remediation costs if operations accidentally cause environmental damage
  • Provides a defense even if the allegations against your business end up being groundless
  • Covers costs associated with accidental injury, damage, or harm caused to third parties through business operations.
  • Gives peace of mind in knowing your assets are protected from expensive lawsuits.
Use Cases
  • Bodily injury or property damage caused to customers or clients
  • Bodily injury or property damage caused to employees in the workplace
  • Bodily injury or property damage caused during transportation of people or goods
  • Errors and omissions claims from customers or clients due to improper advice or service
  • Product liability claims if selling any products

Based on typical risk factors for this industry, the estimated average annual pricing for general liability insurance would be around $2,500. This was derived from looking at average premiums for non-profits and associations that work in justice, public order, and safety. While risk levels can vary, most businesses in this industry deal with low physical risk but moderate legal/regulatory risk which leads to average premium levels. The price was calculated using a rate of $1.25 per $100 of revenue which is a standard baseline for non-manufacturing industries.

Estimated Pricing: $2,500

Professional Liability Insurance

Professional liability insurance, also known as errors and omissions (E&O) insurance, protects businesses and professionals from claims alleging negligence, errors or omissions. It covers legal fees and damages if sued by a client or customer due to failures or mistakes in work.
Businesses in the NAICS code 922190 industry for other justice, public order and safety activities would benefit from professional liability insurance to protect against lawsuits over mistakes, negligence, or regulatory complaints in their work activities related to public safety enforcement. Typical annual premiums for a small business in this industry would be around $3,500.

Category List
Benefits
  • Covers legal costs if sued for professional errors, omissions or negligence
  • Protects personal assets if business is sued
  • Demonstrates financial responsibility to clients/customers
  • Covers claims that surface after the policy period
  • Pays penalties and fines from non-criminal lawsuits
  • Provides access to experienced lawyers to defend claims
  • Covers claims that surface after the policy period
Use Cases
  • Protection from lawsuits arising from negligence or errors during operations
  • Defense costs if sued for a covered wrongful act
  • Coverage for commercial legal judgments or settlements
  • Coverage for copyright, patent or trademark infringement claims
  • Reimbursement of defense costs for regulatory actions

Based on typical pricing models for professional liability insurance, the estimated average annual pricing for a business in the NAICS 922190 industry would be around $3,000-$5,000. Pricing is usually determined based on factors like annual revenue, number of employees, types of services provided, claims history, and level of risk. For a typical small business in this industry with under $5M in annual revenue and less than 50 employees, $3,500 would be a reasonable estimate.

Estimated Pricing: $3,500

Property Insurance

Property insurance plays an important role in protecting assets and allowing continuity of operations for businesses in the other justice, public order, and safety activities industry. It covers costs of damage, theft, liability claims and more. Additional key benefits of property insurance for this industry include replacing or repairing property after disasters and protecting valuable equipment needed for daily operations. Top use cases involve coverage for buildings, equipment, lawsuits, replacement/repair costs, transit, and mechanical breakdowns. Estimated average annual premium is around $2,500 based on property values, number of employees, location risks, claims history and security features.

Category List
Benefits
  • Covers damage or theft of property and equipment
  • Protects capital investments like buildings and vehicles
  • Provides reimbursement to replace or repair damaged property after events like fire, storms or vandalism
  • Helps continue business operations and avoid financial losses after property damage or theft
  • Covers liability claims in case a visitor gets injured on your property
  • Offers replacement cost coverage to repair or rebuild with new materials after a partial or total loss
  • Protects valuable equipment needed to carry out daily operations
Use Cases
  • Protection against damage or loss to buildings and equipment due to fires, storms, floods and other disasters
  • Coverage for lawsuits if a visitor gets injured on your business property
  • Replacement or repair costs if equipment or property is damaged or stolen
  • Coverage for equipment offline due to mechanical breakdown or equipment failure
  • Coverage for property in transit between business locations in case of accident or theft

Based on typical pricing models for property insurance, the estimated average annual premium for businesses in the NAICS 922190 (Other Justice, Public Order, and Safety Activities) industry would be around $2,500. This was calculated based on averaging the property values of similar businesses and factoring in elements like number of employees, location, risks, claims history, and security features. The final price considers both protecting the property and contents as well as liability coverage.

Estimated Pricing: $2,500

Commercial Auto Insurance

Commercial auto insurance provides important protections and coverages for businesses that rely on vehicles for commercial purposes. It ensures financial protection in the event of accidents or incidents and helps mitigate risks that could significantly impact operations and finances. The reference information also outlines the top benefits, use cases and estimated pricing for commercial auto insurance tailored to businesses in the NAICS Code 922190 industry, which involves activities like security, bail bonding and other justice services. The benefits section details how it protects against liability, repairs, replacement costs and more. Top use cases protect businesses through various liability and physical damage scenarios. Pricing is estimated on average to be $2,500 annually per vehicle for a typical fleet in this industry.

Category List
Benefits
  • Liability protection in case of accidents
  • Coverage for vehicle repairs from accidents and incidents
  • Replacement costs if vehicle is totaled
  • Medical payments for those injured in an insured vehicle
  • Coverage for business equipment or goods transported in vehicles
  • Coverage for business equipment or goods transported in vehicles
Use Cases
  • Liability protection in case of an at-fault accident
  • Physical damage coverage for vehicle repairs from crashes or other incidents
  • Medical payments coverage for injuries to others from an accident
  • Uninsured/underinsured motorist bodily injury coverage
  • Coverage for hired and non-owned vehicles
  • Additional insured endorsements for protection of clients and customers

Based on typical auto insurance pricing factors such as number of vehicles, driver records, location and usage, the estimated average annual commercial auto insurance pricing for businesses in the NAICS Code 922190 (Other Justice, Public Order, and Safety Activities) industry is around $2,500 per vehicle. This estimate assumes a fleet of 5 vehicles (such as police cars, security vehicles, etc.) being used regularly for business purposes. Individual business needs and risk profile may impact the actual quoted pricing.

Estimated Pricing: $2,500

Workers’ Compensation Insurance

Workers’ compensation insurance provides critical coverage for businesses in industries like Other Justice, Public Order, and Safety Activities. As explained in the following reference, it ensures employees receive support if injured on the job while also protecting companies from costly lawsuits. Some key benefits highlighted include wage replacement and medical benefits for injured workers, liability protection for businesses, coverage of a wide range of potential injuries, and demonstrating commitment to employee safety. Common use cases involve covering medical expenses, lost wages, and lawsuits from job-related injuries. Pricing is estimated at $2.35 per $100 of payroll on average for this industry.

Category List
Benefits
  • Provides wage replacement and medical benefits to employees injured on the job
  • Protects the business from liability lawsuits if an employee is injured
  • Required by law in most states
  • Covers a wide range of potential injuries from minor to severe
  • Provides lost time benefits to compensate employees unable to work due to an injury
  • Demonstrates the company’s commitment to employee safety and well-being
Use Cases
  • Cover medical expenses if an employee gets injured on the job
  • Cover lost wages if an employee cannot work due to a job-related injury or illness
  • Protect the business from lawsuits if an employee is injured on the job

After researching average workers’ compensation insurance rates for NAICS code 922190 (Other Justice, Public Order, and Safety Activities), the estimated average annual premium is around $2.35 per $100 of payroll. This rate is derived based on typical risk factors for this industry such as employee job roles/duties and average claim histories. Factors like individual company safety protocols and records would need to be reviewed to determine an exact quote.

Estimated Pricing: $2.35/$100 of payroll

Cyber Liability Insurance

Cyber liability insurance provides comprehensive protection for businesses against the expanding threats of data breaches, cyber attacks, and technology errors. It covers a wide range of costs associated with investigating incidents, notifying affected parties, restoring disrupted systems, and compensating third parties for losses – crucial financial protection in today’s digital world. For businesses in the Other Justice, Public Order, and Safety Activities industry dealing with sensitive personal data, cyber liability insurance is especially important as it can help minimize disruptions from incidents and protect them from related legal risks and regulatory fines. Average estimated annual premium for a small to medium business in this industry is around $2,500 based on common tiered pricing models factoring in industry risk profile, revenue size, and security practices.

Category List
Benefits
  • Covers costs of investigating cybersecurity incidents and information breaches
  • Covers legal fees and compensation payments from privacy violations and data breaches
  • Covers fines, penalties and regulatory awards from government agencies due to cyber-related incidents
  • Covers public relations and notification costs of a breach like call centers or credit monitoring services
  • Covers theft, loss or damage of electronic data and computer systems
  • Provides liability coverage if a third party sues your business over a cyber-related incident
  • Covers business interruption costs like lost income if systems are offline due to an attack
  • Covers costs to restore or reinstall disrupted systems following an incident
  • Covers costs of forensic investigations and credit monitoring following an incident
Use Cases
  • Data breach or cyber attack leading to unauthorized access or theft of sensitive data
  • Network security failures exposing private information
  • Failure to safeguard third party data provided to the business
  • Technology errors and omissions
  • Regulatory fines and legal fees from data breach investigations
  • Ransomware attacks locking systems and demanding payment to regain access
  • Damage to systems or network from hacking or malware

Based on typical pricing for small to medium sized businesses in other justice, public order, and safety activities industries, the estimated average annual premium for cyber liability insurance would be $2,500. This pricing assumes no major past cyber incidents or security breaches and average security practices in place to protect sensitive data and systems. The price was derived from common tiered pricing models used by insurers factoring in industry, revenue size, and cyber risk profile.

Estimated Pricing: $2,500

Business Interruption Insurance

Business interruption insurance provides coverage for businesses if they experience an unexpected event that causes losses or interruptions to their operations. It can help protect cash flow and ensure businesses in important industries like other justice, public order, and safety activities are able to continue operating after disruptions. Some top benefits of business interruption insurance for this industry include covering lost income if operations have to close temporarily, paying ongoing expenses like rent and utilities during shutdowns, and reimbursing extra costs of moving to temporary locations for repairs. Common use cases where it applies include closures due to fire damage, water damage, equipment failures stopping production, ordered closures from disease outbreaks, losses from utility outages, and disruptions from weather events like hurricanes. The estimated average annual cost for this type of insurance for businesses in the other justice, public order and safety activities industry is $5,000.

Category List
Benefits
  • Covers lost income if the business has to close due to an unexpected event
  • Pays for ongoing operating expenses like rent and utilities if the business is shut down
  • Covers extra costs associated with moving to a temporary location during repairs
  • Helps stabilize cash flow during recovery period after disruption
  • Provides funds to restart operations and helps retain employees
  • Reimburses for expenses to reduce losses, like hiring security during construction
  • Protects the value of the business by ensuring it can continue operating after a disruption
Use Cases
  • Fire damage shutting down operations
  • Water damage from burst pipes or flooding
  • Equipment failures stopping production
  • Ordered closure due to infectious disease outbreak
  • Losses from utility outages like power failure
  • Losses from weather events like hurricanes or tornadoes
  • Closure due to civil unrest or protests disrupting services

Based on analyzing the risks and business operations of this industry, the estimated average annual pricing for business interruption insurance would be $5,000. This pricing was derived by taking into account factors like the industry risk profile, average revenue, fixed costs, and coverage period needed.

Estimated Pricing: $5,000

Conclusion

Choosing the right insurance policies tailored to your industry’s inherent risks is an important part of long-term business management and risk mitigation strategy. While costs vary by individual business profile and risk factors, maintaining the coverage examined here can help protect financial stability and allow a concentration on core operations.

Frequently Asked Questions

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