Commercial Insurance: Liability
What We Offer
Protection for third-party bodily injury and property damage claims may be insured under a Commercial General Liability Coverage Form which includes coverage for both premises and products-completed operations exposures
An umbrella serves two purposes. First, it provides excess liability limit over the scheduled underlying policies. Second, it fills some gaps in the underlying coverage. There is no standard umbrella policy. Therefore, coverage comparison is a must. Key areas of comparison are exclusions, deductible, whether a follow-form is offered over unusual underlying exposures, limits, and defense cost (in or out of the limits).
Business Auto coverage insures vehicles that are owned, leased, hired or borrowed by businesses, whether they are associations, corporations, partnerships or sole proprietorships. Business Auto coverage may be used to insure private passenger autos and all types of trucks, trailers, semitrailers and commercial vehicles designed for use on public roads.
Business Owners Policy
This policy is designed like a commercial homeowners policy. It provides property, liability, inland marine, crime and hired/non-owned auto in one neat package. While customization is permitted the options are fairly limited when compared to the commercial package policies.
May be written to cover the pollution exposure associated with the insured's property and operations, including costs of cleanup and remedial (corrective) action at third party demand or government order. The pollution exclusion in general liability insurance effectively eliminates coverage for damages for bodily injury, property damage and cleanup costs arising from most types of pollution release. Consequently, tailor-made protection for the pollution exposure of numerous insureds in this category is essential. There are specific policies for remediation operations or abatement contractors. Coverage can address lead-based products, asbestos or numerous other hazardous substances.
Professional liability coverage is designed to protect the professional from actions that stem from their professional capacity and training. The coverage is called "professional" for some and "errors and omissions" for others depending on the particular coverage form and the company issuing the coverage.
Director's and Officer's Liability
Insures corporate directors and officers against claims, usually by stockholders, alleging loss arising from mismanagement. Claims may also be made by other than stockholders against the corporation for mismanagement, which would also be covered.
Employment Practices Liability
Covers lawsuits brought by employees (past, present or prospects), or governmental entities against the insured employer, alleging wrongful discharge, discrimination or certain types of harassment.
• Questions & Answers •
What is General Liability?
General Liability provides coverage if you are liable for damages to other individuals arising from your premises, general operations (ongoing and after completion) and products manufactured or sold.
Why do I need certificates of insurance from sub-contractors?
An audit may require you to show proof that sub-contractors had their own insurance coverage. The sub-contractors' certificates of insurance will prevent you from being charged for their exposure.
How does an audit work?
At the end of the policy term, the insurance company will review the policy and either charge or credit the policyholder based upon an audit of estimated figures. Examples of estimated auditable items include sales and payroll. Audits can be performed onsite by an auditor or via mail or telephone. A premium is charged for audit estimations.
Does my policy cover physical damage to a vehicle I rent?
This damage will be covered only if that type of coverage is purchased.
Do you need additional insurance coverage if you drive a private vehicle for business?
Most personal auto insurance policies will exclude business use of your personal auto. So the answer is you most likely will need a seperate business auto policy if you are using your auto for business. There are a few exceptions to this. Some personal auto insurance policies do have a business use class that was intended for the accountant, lawyer, counsultant type who drives from client to client all day long. Or possibly even a real estate agent might find coverage on the personal auto policy. Each insurance company has different rules on what types of "business use" they will tolerate.