Running a business in a niche industry can usually prove quite lucrative. Being able to capitalize upon an area that doesn’t have a lot of competition is a nice way to create a name for your brand. Naturally, it is also a road with a lot of obstacles. If your business has to do with commercial marine programs, then you might want to look over the additional regulations that exist. Knowing about the United States Longshore & Harbor Act can be a very smart move for those who specialize in ship repair.
The Basic Idea of USL&H
The basic point to understand about USL&H coverage is that it is meant to be a special kind of policy option for businesses that operate on or near large bodies of water. Since maritime businesses often encounter situations that fall outside of the normal coverage details, the USL&H Act was passed as a way of guaranteeing proper protections for all workers. This policy comes into play when your current workers’ compensation coverage fails to meet the requirements of a job. Though ship repair companies benefit from this coverage, other companies that can benefit include:
- Yacht clubs
- Boat dealers
Find the Best Coverage
Discovering the most appropriate insurance coverage for your business is all about reviewing the details. Take time to learn more about USL&H and similar options to find a policy that best suits your needs.