A standard insurance policy issued to business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability. Commercial General Liability insurance, or CGL, is coverage that will protect your business in the event that you are sued. Without a commercial general liability insurance policy, your business is vulnerable to lawsuits that could have a devastating impact on your business. As our society becomes more and more litigious, it is important to protect your business with liability insurance.
Commercial Property Insurance
Insurance that is used to cover any type of commercial property. Commercial property insurance protects commercial property from such perils as fire, theft and natural disaster. This type of insurance is carried by a variety of businesses, including manufacturers, retailers, service-oriented businesses and not-for-profit organizations. Commercial property insurance can cover your personal property that is used for business operations and are located at the physical plant such as computers, desks, products, etc.
Business auto liability insurance is an important safeguard for your business. If you or an employee are sued following a serious accident, liability insurance helps protect your company’s assets. Business auto is required in most states and is necessary if an employee of the buiness gets in an auto accicent with a company owned vehicle. You need this protection if: Your business owns, leases or rents vehicles, employees drive company-owned, leased or rented vehicles, employees drive their own vehicles while conducting business and/or you or your employees drive company cars for both business and personal use.
Excess Liability (Umbrella)
Excess liability coverage can also be purchased in order to cover claims that exceed the limit of the CGL policy and are often referred to as an “umbrella policy.” The umbrella gives you an excess of liability that sits on top of and above several policies at once, providing extra liability coverage for your general liability, commercial auto and worker’s compensation.
Inland Marine (Equipment Floaters for transient equipment)
Inland marine insurance was first created to cover the transport of goods over water, but the definition of the term has expanded to refer to the coverage of goods in transit on land, as well as to the property of others that is at your premises or being transported to or from your premises.
Professional Liability (Errors and Omissions)
More commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice, and service, providing individuals and companies from bearing the full cost of defending against negligence claim made by a client, and damages awarded in such as a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder.
Worker’s Compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the tort of negligence.
Directors and Officers
Directors and Officers liability Insurance (often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.
Other Unique Coverages
Employer Practices Liability – A type of liability insurance covering wrongful acts arising from the employment process such as wrongful termination, sexual harassment and discrimination. This is an important, often disregarded, type of insurance policy that businesses today should consider.
Employee Benefits Liability – Employee Benefits Liability Insurance, also known as EBL, is a type of professional liability insurance which covers an insured in the event of a claim which arise out of errors and/or omissions in the administration of a benefit plan.
Cyber Liability/Data Breech – Addresses the first and third party risks associated with e-business, the internet, networks and informational assets. Cyber Liability Insurance coverage offers cutting edge protection for exposures arising out of Internet communications.
Fiduciary Liability Insurance – Those having anything to do with pension, savings, profit-sharing, employee benefit, and health/welfare plans are liable to the beneficiaries for any breach of their fiduciary duties
Sexual Abuse/Molestation – Liability coverage for allegations of sexual abuse and molestation committed by a paid or volunteer staff member or a client
Commercial Specialized Policies
Builder’s Risk, Garage Insurance, Jeweler’s Block, Crime Bonds, Surety Bonds, and much more to suit your business needs.