Insurance Requirements and Policy Review for Illinois Businesses
It takes more than a good idea and hard work to start a successful business in Illinois. The state requires many businesses to carry certain types of insurance. Other types of insurance, while not legally required, are often a good idea. In addition to the basic filings required to create a partnership, a limited liability company (LLC), or a corporation, various licensing requirements must be met for companies doing business in certain trades. Both state and federal laws also require business policies in areas such as hiring, firing, and compensation to meet certain standards. A business that does not meet these requirements can face costly fines or civil liability.
If you are a new businessperson, or an established entrepreneur branching out into new lines of business, you may not be aware of these requirements. But the lawyers at Shipley Law Group have the expertise to help your business get a strong start.
Insurance requirements
Knowledgeable individuals and businesses understand that insurance can provide much needed security in an uncertain world. But the law also requires many Illinois businesses to carry certain types of insurance:
- Workers compensation insurance
- Unemployment insurance
- Disability insurance
- Professional liability insurance
The business attorneys at Shipley Law Group can analyze your business and determine your insurance needs, keeping your business in good standing with the government.
Licensing and other policy requirements
State and local governments require new businesses to obtain a number of permits and licenses before starting operation. Some of these are well known, such as zoning permits and building permits. But others may be a complete surprise to many business owners. The Chicago business lawyers at Shipley Law Group can advise you what permits and licenses you need in your area and line of business.
The federal government, as well as state and local governments, require businesses within their jurisdictions to establish certain policies, especially in the areas of environmental regulation and employment. The many ordinances and state and federal laws that impact a business can overwhelm many new business owners, including:
- Federal labor laws such as the National Labor Relations Act (NLRA), Fair Labor Standards Act (FLSA), and Family Medical Leave Act
- Federal laws governing hiring and firing of employees and accommodations for customers such as the Americans with Disabilities Act (ADA), Age Discrimination in Employment Act (ADEA), and provisions of the Civil Rights Act
- State employment laws such as the Illinois Minimum Wage Law, One Day Rest in Seven Act, and School Visitation Rights Act
These are just a handful of examples of the laws that can have a bearing on your business. But there is no need to feel overwhelmed. The Chicago business law attorneys at Shipley Law Group can advise you of these and other laws that affect your business and help you create policies that comply with federal, state, and local standards.
Legal solutions for Chicago's future with Shipley Law Group
Our clients trust us to make legal sense out of every business process, from Chicago's Loop to emerging business capitals throughout the state of Illinois. Write, call, or visit us for legal consultation that steers you clear from legal confrontation.
