With small businesses hiring more people in April, there could be an increased need for liability insurance.
Overall, small business owners reported increasing employment an average of 0.14 workers per firm – the fifth straight positive monthly gain, according to the National Federation of Independent Business.
Plans to create more jobs increased as well, which could be a good sign for the future of small business hiring. Around 6 percent of small employers said they plan to increase total employment in the next three months, a six point jump from the previous month.
“April was another positive, albeit lackluster month for job creation,” said NFIB chief economist Bill Dunkelberg. “But small-business owners are expressing a bit more enthusiasm in hiring plans in the months to come.”
As small businesses increase their employment roster, the need for more liability insurance might arise. With more people on the payroll, liability risk may increase, so these companies should make sure they have the necessary protection against injuries to employees, or damages and injuries caused by employees.
Without this type of coverage, small businesses could be faced with a large bill if an incident occurs.