What is Liability ?

Liability & Risk levels

Compliance Industry

  • A business sector comprised of companies, bodies and persons held accountable for following, maintaining and/or enforcing industry standards and rules.
  • Non-compliance ramifications can be determined within the company such as termination and/or outside of the company such as legal ramifications, disciplinary action from a regulatory body.

Non-Compliance Industry

  • Any business that must conform to general laws of the land or local regulations.
  • Non compliance ramifications are generally consumer driven.

Liability in Compliance industries

  • Examples of Compliance Industries that are at Open to Greater Risk
    • Financial
    • Real Estate & Construction
    • Radon
    • Home Inspection
    • Medical
    • Government

A few types of liability

  • False Advertising, Slander, or Libel
  • Unethical Behavior
    • Conflicts of Interest, questionable business practices, etc.
  • Illegal Behavior
    • Kickbacks, bribes, falsifying documents, regulation violations, etc.
  • Personal Injury to your clients/customers – accidental or caused by your negligence
    • Client trips on your ladder, tool bag, slips and falls during an inspection?
  • Property Damage caused by you, your employees, contractors, representatives, or clients.
  • Weak Contracts
  • Internet security breach, loss of files
  • Loss due to theft, fire, vandalism, flood, or other natural disaster