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