The following coverages are commonly used by certain businesses or entities to protect themselves from specific risks that they may be more prone to have. These are just a few coverages that we see more often; if there is another coverage you have questions on or need please do not hesitate to Contact Us.
Also commonly known as Errors & Omissions, is a form of liability insurance that protects against advice and/or service providing businesses or entities against negligence claims. Common businesses that coverage applies to, but not limited to are: Medical Professionals, Consultants, Brokers, Layers, Accountants, Engineers, Construction Professionals, Maintenance Professionals, Financial Services, Transportation, Charities, Non-Profits, etc.
Directors & Officers Liability
A form of coverage protecting Board Members or Officers of an entity from decisions they have made that cause adverse financial consequences to the entity. It is basically an Errors and Omissions Liability policy for Directors and Officers. Common businesses that coverage applies to, but not limited to are: Publicly Owned Entities, Non-Profits, Associations, etc.
Coverage for an entity that engages in different types of electronic activities such as sales on the internet and collecting information of others that may result in a liability or property loss. Such losses may include Data Breach, Data Loss, Computer Fraud, Funds Transfer Loss, Cyber Extortion. This coverage should NOT be confused with Technology Errors & Omissions which does contain some of the same coverages, but are for providers of technology products & services.
Employment Practices Liability Insurance (EPLI)
A type of liability insurance that covers wrongful acts arising out of the employment process. These include but are not limited to Wrongful Termination, Discrimination, Sexual Harassment, Defamation, Failure to Promote, etc.
Liability insurance that provides coverage for breach of fiduciary duties when it comes to employer’s pension, savings, profit-sharing, employee benefit, and health and welfare plans. In many cases most people place Employee Benefits Liability (EBL) as an endorsement to their General Liability policy to cover such risks, but in many cases EBL excludes coverages that Fiduciary Liability does not. In most cases it is best that entities have both coverages which will cover the gaps in coverage the other does not have.
Coverage for entities that sell, serves, or assists in the purchase or use of alcohol. Most people would believe those under the influence who caused the bodily injury or property damage to a third party would be responsible, but the business that sold, served, or assisted can be liable as well.
There are different types of Pollution Liability depending upon what your business is. Many entities have some form of environmental exposure when it comes to pollution which include but are not limited to: Contractors, Apartment Complexes, Condo Associations, Manufacturing, Transportation, Hospitals, etc. This coverage can protect you from the bodily injury, property damage, defense, and cleanup of sudden/accidental and gradual pollution.
There are many different varieties of coverages provided under these policies, but the most common can be Aircraft Liability, Non-Owned Aircraft Liability, Hull (Physical Damage) Coverage, and Medical Payments. These coverages can also be combined with Aircraft Products Liability, Airport Liability, Land-Based General Liability, and Hangar Keepers Liability.
This coverage is designed for businesses other than financial institutions for financial crimes committed against the entity. These coverages may include employee dishonesty, forgery or alteration, computer fraud, funds transfer fraud, kidnap/ransom/extortion, money and securities, and money orders/counterfeit money.
Any business that has a third parties auto or auto equipment left in their possession warrants Garage Keepers Coverage. This can cover you for any damage done to these autos while in your care, custody, & control. Some entities that may think about adding this coverage are: Auto/Trailer Service Centers, Body Shops, Valet Exposures, etc.
Some businesses have location specific coverages and some entities only operate a certain time of the year. These situations may call for an Event policy which covers the entity for a specified timeframe and location(s) where they will be.