Wednesday, June 27 2012
Commercial Package & Business Owners Policies:
Both policies include Property insurance for buildings and contents owned by the business owner and Liability protection from claims by the general public.
Workers’ compensation insurance covers workers injured on the job, whether they’re hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Property insurance covers the buildings that you own and/or the business property and inventory against physical loss or damage.
Liability insurance is designed to protect the business against losses even if they are negligent or liable for damage, injury or loss to another’s property, reputation, or health.
Commercial auto liability and physical damage coverages provide protection for claims arising out of the operation of any autos used in connection with your business.
Professional Liability - Errors & Omissions –
Another name for malpractice insurance which gives physicians, attorneys, engineers, architects, accountants, real estate agents and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence.
Directors & Officers -
Coverage when a director or officer of a company commits a negligent act or omission, a misstatement or misleading statement, and a libel suit is brought against the company as a result.
Builders Risk -
Insurance against loss resulting from damage to buildings and to materials incidental to construction, including machinery and equipment, while the buildings are under construction.
Liability insurance that protects the assets and future income of the policyholder above and beyond the standard limits set on their primary policies.
Employee Practices Liability -
Provides broad insurance protection from such employment-related claims and lawsuits brought against a company, its managers and employees, and its directors and officers. (i.e., sexual harassment, wrongful termination, discrimination, etc.)