Commercial Needs
General Liability
In today's litigious society, even small mishaps can result in large lawsuits. That's why general liability insurance, along with property and worker's compensation insurance, are essential for most companies. Businesses need protection to cover themselves for liability arising from premises, general operations (ongoing and after completion) and products manufactured or sold. Liability insurance protects the assets of a business when it is sued for something it did (or didn't do) to cause an injury or property damage.
The primary policy form covering these general business hazards is the Commercial General Liability (CGL) policy .
General liability insurance can be purchased separately or as part of a business-owner's policy (BOP). A BOP bundles property and liability insurance into one policy; however, the liability coverage limits are generally pretty low. Businesses that need more coverage usually purchase liability insurance as a separate policy.
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Professional Liability
Professionals are expected to have extensive technical knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired, according to the standards of conduct in their profession. If they fail to use the degree of skill expected of them, they can be held responsible in a court of law for any harm they cause to another person or business. When liability is limited to acts of negligence, professional liability insurance may be called "errors and omissions" liability. Professional liability coverage protects the insured against legal liability resulting from negligence, errors and omissions, and other aspects of rendering or failing to render professional services.
Professionals that operate their own businesses need professional liability insurance in addition to an in-home business or business owner’s policy. This protects them against financial losses from lawsuits filed against them by their clients.
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Workers' Compensation
Workers' compensation laws provide money and medical benefits to an employee who has an injury as a result of an accident, injury or occupational disease while on the job. Workers' compensation is designed to protect workers and their dependents against the hardships from injury or death arising out of the work environment. It is intended to benefit the employee and employer alike. The employee receives money (usually on a weekly or biweekly basis) and medical benefits in exchange for forfeiting the common law right to sue the employer. The employer benefits by receiving immunity from court actions against them by the employee in exchange for accepting liability that is limited and determined. The question of negligence or fault is usually not at issue.
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Commercial Property
Commercial property insurance helps businesses, including farms and ranches, pay to repair or replace buildings, associated structures, and contents damaged by fire, storms, theft, and other events or perils outlined in the policy.
Commercial property policies may be purchased by businesses that own or lease their buildings. While it is common for property landlords to maintain some type of property insurance coverage, it is important for a tenant business to understand that such a policy usually covers only the building owner’s property, such as damage to the building or structure and any lease holds, betterments and improvements that the tenant has installed and paid for.
Businesses that are “tenants” of a building can also buy commercial property coverage for their contents and inventory. It can also include coverage for any leasehold, betterments and improvements the tenants have an interest in.
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Business Auto
Your commercial auto insurance protects you and your business when you or your drivers and passengers are injured in an auto accident. It may pay or supplement other payments for medical expenses and for lost work.
Your commercial auto insurance policy protects your financial security in case you are sued as a result of loss or injuries to other parties, following an accident for which you or any covered employees were responsible.
Your commercial automobile is a very important business asset. Your commercial auto insurance policy protects that investment. It pays for the replacement or repair of your commercial auto in case it is damaged in an accident, stolen, vandalized, or damaged by adverse weather conditions such as wind or hailstorm.
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Director & Officer
Director and Officer insurance is more complex and varied than your typical policy. Do you really know what kind of risks individuals assume when serving on your board? Is there really any risk at all? How can these risks be insured? Is director and officer insurance necessary? Did you know that the scope of liability assumed by directors and officers is constantly expanding?
Directors and Officer Liability provides coverage for lawsuits that arise out of wrongful acts, or errors and omissions-type claims. Examples of such claims under this policy would be: employment-related claims, including negligent hiring practices or wrongful termination; acts beyond the authority of the league or chapter, wrongful suspension, matters involving changes to, interpretation or implementation of, or implementation of rules; sexual harassment, and gender, racial or ethnic discrimination.
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