Commercial Insurance

BUSINESS AUTO

Business or Commercial Auto Insurance is crucial if your business owns, leases, or rents vehicles, if employees use company or personal vehicles for business purposes, or if company cars are used for both business and personal activities. Most states mandate that businesses carry liability insurance to cover bodily injuries and property damage resulting from auto accidents. This coverage ensures legal compliance and protects the financial interests of the business in vehicular incidents.

GENERAL LIABILITY

Owning and operating a business comes with many risks, and a single loss can be devastating if a business is not adequately insured. General Liability coverage is essential for most businesses to protect against various exposures and ensure continuity after a loss. This policy typically cover bodily injury and property damage liability, personal and advertising injury, product-related claims, damages to rented premises, and medical payments, providing a broad safety net for business operations.

PROFESSIONAL LIABILITY

Professional Liability, also known as Errors and Omissions insurance, is designed to cover financial damages arising from work mistakes, undelivered, or negligent services. This type of insurance is crucial for a wide range of professionals including architects, engineers, accountants, insurance and real estate agents, contractors, dentists, lawyers, and tech companies. It ensures protection against the financial consequences of professional errors or omissions in their services.

INLAND MARINE

Inland Marine Insurance is designed to protect goods, materials, and equipment during land transportation or while stored off-site. It covers a variety of situations, including the transit of goods over land, mobile equipment and tools used at different locations, clients' property under the care of a business (Bailee's coverage), and structures under construction (Builders Risk). Additionally, it offers protection for exhibition items, fine art, computer equipment, data, and contractors' equipment at job sites.

COMMERCIAL PROPERTY

Commercial Property Insurance protects a business's physical assets, covering damages to buildings, contents inside, and income loss due to property damage. It addresses various incidents, including fire destruction, roof damage from windstorms, water damage from burst pipes, and burglary. Additionally, optional coverages can enhance protection, covering areas like ordinance or law compliance, sewer or water backup, equipment breakdown, and outdoor signage.

WORKERS COMPENSATION

Workers' Compensation Insurance provides financial and medical benefits to employees who are injured or become ill due to their job. It covers medical expenses, rehabilitation costs, and lost wages for injured or ill employees. Additionally, it offers death benefits to the families of employees who die as a result of work-related incidents. This insurance is a mandatory requirement in many jurisdictions.

COMMERCIAL UMBRELLA

A Commercial Umbrella Policy kicks in when the underlying policy's limits are exhausted, covering significant claims that could otherwise financially devastate a business. This type of policy is designed to ensure that a business is protected against unusually high losses, and is particularly valuable for businesses facing high liability risks or those seeking to protect their assets against unforeseen, catastrophic legal settlements.

DIRECTORS & OFFICERS

Directors & Officers Insurance is a specialized liability coverage designed to protect both the directors and officers of a company, as well as the organization itself. It offers financial reimbursement for losses or defense costs that arise from legal actions brought against these individuals. This insurance plays a crucial role in protecting the personal assets of directors and officers, as well as the financial stability of the company.

CYBER LIABILITY

Statistics suggest that more than half of small businesses nationwide have experienced multiple breaches. The results can damage the reputation, put employees and customers at risk and cost the business $$$$ in expenses. Cyber insurance can protect your business from the costs associated with cyber attacks.

CRIME

In order to ensure against losses stemming from business-related criminal activities, protection can encompass the loss of goods, funds, or other assets when a company falls victim to acts such as embezzlement, forgery, robbery, securities theft, or other forms of business-related crime.

BUILDERS RISK

Builders Risk Insurance is a specialized form of coverage designed to protect buildings and structures under construction. It covers a wide range of risks, including damage from events like fire, wind, theft, and vandalism during the construction process. Additionally, it may cover materials, fixtures, and equipment being used in the construction project. This insurance is essential for contractors, developers, and property owners, providing financial protection against unforeseen incidents that can cause costly delays and losses during the construction phase.

BONDS

Surety Bonds are contracts that involve a Principal (who needs the bond), an Obligee (who requires the bond), and a Surety company (which guarantees the Principal's obligations). These bonds ensure that the Principal fulfills specific duties. If they fail to do so, a claim can be filed against the bond. However, unlike insurance, if a claim is made, the Principal must repay the Surety. This type of bond is common in construction, licensing, and legal contexts, ensuring that obligations are met.

SPECIAL EVENTS

Special Events coverage is a temporary insurance designed for occasions like weddings, festivals, conventions, and athletic events. It provides Event Liability coverage, which can protect you against claims for property damage or injuries occurring during the event. This insurance is often required by venues and covers incidents such as guests slipping and falling, damages caused by performers or bands to the venue, or accidents involving equipment left out during event setup.

LIQUOR LIABILITY

Liquor Liability Insurance provides coverage for businesses that sell, serve, or facilitate the use of alcohol. It protects against legal fees, settlements, and medical costs arising from incidents where serving alcohol is deemed to have contributed to a person's injury or damage, such as drunk driving accidents or alcohol-related altercations. This insurance is particularly crucial for bars, restaurants, nightclubs, and any event where alcohol is served.

ELPI

Employment Practices Liability Insurance (EPLI) protects businesses against claims related to the employment process, including wrongful termination, discrimination of various kinds, sexual harassment, failures in hiring or promotion, and invasion of privacy.