Business Insurance

It is a contractual relationship between a contractor and an insurance carrier to reimburse a third party (such as the consumer) for property damage or personal injury loss caused by the contractor. Examples of losses might be a contractor’s ladder falling and breaking a window. General liability insurance does not provide reimbursement to a third party (such as the consumer) for poor work or construction defects. It may provide coverage for damage caused by faulty work or construction defects. General liability insurance policies may have exclusions for specific risks or exposures that are not covered.

Workers’ compensation insurance provides coverage for employees who are injured on the job. When employees are injured, workers’ compensation insurance provides them with medical treatment, payment for lost time and disability, and re-employment assistance if needed.

Commercial property insurance protects your company’s physical assets from fire, explosions, burst pipes, storms, theft and vandalism. Earthquakes and floods typically aren’t covered by commercial property insurance, unless those perils are added to the policy.

Business income coverage (BIC) form is a type of property insurance policy, which covers a company’s loss of income due to a slowdown or temporary suspension of normal operations, which stem from damage to its physical property. … Usually, coverage applies during the time required to repair or replace damaged property.

Professional liability insurance is coverage for businesses that protect against claims from their clients. Professional liability insurance commonly covers negligence, copyright infringement, personal injury, and more. This can include damages caused by things you did and/or things that you should have done.

Data breach insurance is a type of monetary coverage purchased by organizations to protect financial interests in the event of data loss. … Data breach coverage is a type of cyber security insurance (also known as cyber liability coverage) meant specifically for situations in which data is lost or stolen

Commercial umbrella insurance provides an extra layer of liability protection by covering costs that go beyond your other liability coverage limits. In other words, commercial umbrella insurance complements your other liability coverages by taking over when your other liability coverage limits have been reached.

Commercial auto insurance helps cover the costs of an auto accident if you or an employee is at fault. This coverage can help pay for damaged property and medical expenses – even in the event of a fatal accident.