Business Auto Insurance
Business or Commercial auto insurance is liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business purposes. … For example,businesses that use a car to run errands, carry tools or transport clients might also need a commercial auto policy. It should be noted that a vehicle owner that has a commercial auto insurance policy can actually utilize the commercially insured vehicle for both commercial and personal use; while a vehicle that is insured through a personal auto policy can only use that vehicle for personal use.
Hired and Non-Owned Auto Insurance
Non-Owned & Hired auto liability covers bodily injury and property damage caused by a vehicle you hire (including rented or borrowed vehicles) or caused by non-owned vehicles (vehicles owned by others, including vehicles owned by your employees).
Commercial Property Insurance
Commercial Property Insurance
Commercial property insurance protects your company’s physical assets from such perils as fire, explosions, burst pipes, storms, theft and vandalism. Earthquakes and floods typically aren’t covered by commercial property insurance, unless those perils are added to the policies
Builder’s risk insurance is “coverage that protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause.”
Commercial Contractors Equipment Insurance is a broad-range policy designed to cover damaged or missing contracting equipment. A contractors insurance policy can extend beyond simply covering equipment; it can also cover small tools, employees’ equipment clothing, and borrowed equipment.
Commercial Property Insurance Typically Does Not Cover Damage from Floods. … To get flood coverage, you may be able to buy a separate flood policy through the federal government’s National Flood Insurance Program (NFIP). A local insurance agent can help you purchase an NFIP flood policy
Commercial General Liability
General Liability (CGL) is a type of commercial insurance policy that provides coverage to a business for bodily injury, personal injury and property damage caused by the business’ operations, products, or injury that occurs on the business’ premises.
Business Owners Policy (BOP) Insurance
Business Insurance. Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package. (They also sell coverages separately.) One package purchased by small and mid-sized businesses is the business owners policy (BOP).
Business Owners Policy Insurance
Business owner’s policy insurance typically involves two different types of coverage for your business under a single, convenient policy.
- General Liability
- Property Insurance
Business Umbrella Insurance
Business or Commercial Umbrella Insurance extends liability coverage with an additional layer of insurance to further protect business assets. Significant assets can be at risk when businesses are the target of lawsuits. If the cost of a claim exceeds the limits of a business’s underlying primary insurance policies. Commercial Insurance Umbrella Policies are typically written in increments of $1, 3 and $5 Million, etc.
Crime/Employee Dishonesty Insurance
Coverage for employee theft of money, securities, or property, written with a per loss limit, a per employee limit, or a per position limit. Employee dishonesty coverage is one of the key coverages provided in a commercial crime policy.
Cyber Liability/Data Breach
Cyber Liability/Data Breach Insurance mitigates the risk of civil litigation and other penalties when a data loss or theft occurs. A cyber liability or data breach insurance policy can provide access to professional assistance to help businesses comply with applicable laws and regulations.
Directors and Officers Insurance
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. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously. Intentional illegal acts, however, are typically not covered under D&O policies.
Employment Practices Liability Insurance
Employment practices liability insurance, commonly referred to as EPL insurance or EPLI, provides coverage to employers against claims made by employees alleging: Discrimination (based on sex, race, age or disability, etc.)
Home-based Business Insurance
Property Coverage and Home Businesses. In addition to liability coverage, Business insurance can also provide coverage for your business property and office equipment. If you’re like most home-based business owners, you may not have looked into purchasing a separate business insurance policy.
Product Liability Insurance
Product Liability Insurance protects against claims of personal injury or property damage caused by products sold or supplied through your business. It is designed to help protect your business by ensuring that if this happens, you don’t have to pay any legal or court costs.
A performance bond is a type of surety bond which guarantees to the obligee (the entity or person being protected by the bond) that the principal (the contractor applying for the bond) will successfully completed the project in accordance with the terms and conditions of the agreement. If the contractor fails to complete the project in accordance with the terms of the construction agreement, the surety company will either complete the contract itself, or arrange for a contractor to complete the contract. The surety company will pay the new contractor the amount required to finish the work, minus the unpaid amount under the original contract. However, the surety company is not obligated to pay more than the penal sum or limit of liability stated in the bond. If the surety suffers a loss, the surety will seek restitution from the contractor. A performance bond is not insurance.
Professional Liability Insurance
Professional Liability Insurance, is more commonly known as errors and omissions (E&O insurance). It is a special type of coverage that protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part (errors) or because you failed to disclose [omission] information about your service or practice that injures your client.
Sexual Misconduct Insurance
We all have a responsibility to fight sexual harassment and eliminate it, but despite our best efforts incidents of sexual harassment will still occur which is why continued, education, awareness and action needs to be taken to protect people from sexual harassment. Also, because incidents of sexual harassment occur everywhere, including the workplace, employers have a duty of care that is owed to their employees to protect them from sexual harassment. In response to this fiduciary responsibility employers must make efforts to protect their staff and prevention is clearly the best strategy as it ideally would eliminate sexual harassment in the workplace occurring at all, but sometimes bad things still happen and the actions of an individual within a workplace can create significant financial risk for an employer which is why sexual harassment insurance coverage should be considered.
Workers Compensation Insurance
Workers’ 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 their employer for the tort of negligence.
Workers comp covers five broad areas:
- Medical costs to treat immediate injuries and illnesses. A business should take every practical measure to prevent worksite injuries and illnesses. …
- Lost wages. …
- Ongoing care. …
- Funeral costs and death benefits. …
- Legal costs if an employee sues you over the injury.
Church and Ministry Insurance
A robust Church and Ministry insurance policy should typically contain property, general liability, directors and officers, sexual misconduct, automobile, crime and dishonesty bond, and hired & non-owned auto built into the package policy. Depending upon the unique needs of the church, Workers Comp and Umbrella Liability should be considered where applicable.
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