Business & Commercial Insurance Information
We have markets for just about everything including:
Workers' Compensation and Employer's Liability
Business Owner's Policy (BOP)
Commercial Liability Umbrella
Professional Liability - All Professions
Errors & Omissions (E&O)
Directors & Officers (D&O)
Contractors, General and Artisan
General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection in case your business is ever sued or held legally responsible for some injury or damage.
General Liability pays for losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations.
Broad Range of General Liability Protection
- Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury
- Property Damage coverage for the physical damage to property of others or the loss of use of that property
- Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided
- Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents
- Contractual Liability extends to any liability you may assume by entering into a variety of contracts
- Other coverage includes: Reasonable Use of Force; Borrowed Equipment; Liquor Liability; Non-Owned Vehicles (such as aircraft and watercraft); Fire, Lightning or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types
Business Owner's Policy
A Business Owner’s Policy, commonly referred to as a 'BOP', combines business property and business liability insurance into a single policy. A BOP helps cover your business from claims resulting from things like fire, theft or another covered disaster and from claims involving bodily injury, property damage and personal and advertising injury that could arise from your business’ operations.
Good insurance agents can customize a BOP to help meet the unique needs of individual businesses by adding optional coverage like data breach, business income for off-premises utility services, products and completed operations, and many other specialized coverage depending on your risk exposure.
As a business owner, you need the same kind of insurance coverage for the car you use in your business as you do for a car used for personal travel -- liability, collision and comprehensive, medical payments (known as personal injury protection or PIP in Texas) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and personal use. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the "principal insured" rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.
Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.
There are all kinds of terms to describe the same exposure including Cyber Liability, Privacy Liability, Security & Privacy liability, Data Breach, Network Security, and Cyber Security Insurance to name a few. All of these names focus on your exposure to a data breach. A data breach can occur when personally identifiable information is compromised by hackers, a faulty transaction, malfunctioning technology, simple human error and even lost or improperly disposed data. The effect of a data breach on your small business could be devastating. You will have to pay to notify the affected individuals as well as the potential expenses arising from credit monitoring, identity theft resolution, analysis into how the data breach occurred and any steps needed to avoid another occurrence. These costs can be heavy and time consuming to identify. Security and Privacy Liability Insurance, also known as Cyber liability protects businesses in the event of a costly data breach. Use the Contact Us link above to get a quote!
What are the Costs Associated With Data Breach Exposure?
- Claims for failure to protect information, expense of legally required notifications and credit monitoring to those whose information is exposed, forensic expense to find out and resolve what happened, public relations expense to maintain business reputation, regulatory and payment card industry fines and hacker extortion demands.
- Small business owners have gone out of business due to identity thieves impersonating their business and personal name leading to loan defaults, inability to access credit and loss of business reputation.
Employment Practices Liability Insurance
Employment Practices Liability Insurance (EPLI) is a coverage designed to protect the insured against the risks associated with running a business. EPLI policies cover a range of risks such as wrongful termination, sexual harassment, contract violations, and wage and hour law violations. In a world where courts tend to favor the employee, whether they are right or wrong, an EPL policy can be the difference between keeping a business open or not.
Management Liability - Directors/Officers
Director's and Officer's Insurance (D&O) is a coverage designed to protect the decisions made by an organizations management. This management can be the Board of Directors, managers, or Officers that are named. This kind of policy covers defense costs for investigations of criminal acts or regulations. Claims can arise from all kinds of acts, both intentional and accidental. These kinds of risks tend to have very big consequences, so the costs for defense can be huge. Use the Contact Us link above to get a quote!
Errors and Omissions - E&O
Professional Liability Insurance (PLI), Professional Indemnity Insurance (PII), or more commonly referred to as Errors & Omissions (E&O) is liability insurance which helps protect professional advice and service providing individuals and companies from bearing the cost of defending against negligence claims made by a client. The primary reason for professional liability coverage is that a typical general liability insurance policy will only respond to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employers, public and product liability. But various professional services and products can give rise to legal claims without causing any of the specific types of harm covered by such policies. Common claims that professional liability insurance covers are negligence, misrepresentation, violation of good faith and fair dealing, and inaccurate advice.
Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.
Workers Compensation Insurance is designed to help companies pay these benefits. As a protection for employees, most states require that employers carry some form of Workers Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.
Do I need workers compensation insurance?
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. 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.
Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.
Looking for something else? Contact us and a licensed agent will call to discuss your business to determine the coverage you need.
Business & Commercial Insurance Quote Forms
Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.