Every business has its own unique set of exposures, so we design programs to include insurance policies that cover those exposures, while also helping with risk management to reduce the chance and severity of a loss.
Some of those policies include:
As your business may have a large portion of its assets in tangible property, having insurance to pay you for a loss cover a loss to your building, furniture, machinery, stock, or other business personal property is critical.
Commercial general liability insurance is a risk transfer vehicle that provides coverage for claims brought by third parties for bodily injury, property damage, personal injury, advertising injury (which is often false advertising or similar allegations) and most other claims that result from actual or alleged negligence on the part of your business.
The average cost of an employee injury has increased from about $2,500 in 1989 to nearly $9,000 in 2011. Unfortunately, these costs serve to increase your experience modification factor and therefore, the ultimate net cost of your workers’ compensation insurance. Nearly all of our commercial team has earned either a Certified WorkComp Advisor designation to help you control your Workers’ Comp costs.
Employment Practices Liability
EPLI claims are among the most costly and time-consuming losses facing businesses today. Businesses of all industries face allegations for everything from discrimination, sexual harassment, retaliation, wrongful termination to denial of overtime, employee misclassifications and other assorted “wage and hour violations.” And while claims may be baseless, you may still need to spend considerable money defending it (something that is covered by an EPLI policy).
Directors & Officers
Directors and Officers have responsibilities by law to the corporations they serve, whether publicly traded, privately owned, or not-for-profit. Lawsuits can come from many places, such as from shareholders (or inadequate or inaccurate disclosure in financial reports) or from competitors (for antitrust and unfair competition claims), and investigations by government and regulatory agencies can generate enormous defense costs – even if there was no wrongdoing.
Professional liability Insurance policies generally provide coverage for suits brought by third parties alleging financial damages caused by the professional’s errors or omissions.
When expectations are not met, or if the customer perceives their expectations have not been met, a lawsuit may result. Regardless of fault, professional liability disputes can cause costly litigation, time-consuming distractions from your business, and damage to your reputation.
Cyber-related incidents are rapidly increasing, leaving businesses vulnerable to an attack. The complexity and severity of cyber breaches have worsened as well, threatening all types of businesses and organizations – from small businesses to multi-national corporations. Cyber policies provide protection for a variety of exposures, such as reimbursement for expenses tied to a breach of customers’ private information, defending a lawsuit from that breach, loss of income when a malware attack locks you out of your system, and more.
- Commercial Auto
- Inland Marine
- Equipment Breakdown
- And more
Insurance policies are not created equal. You need to consider the limitations, exclusions, and various provisions of your policy to make sure it aligns with your business. We can help with these things, as well as provide insight into best practices to help protect you before a claim occurs. To learn more about how we can help, contact one of our advisors listed here.