Business Liability

Unfortunately for every business owner, the chances of getting sued have dramatically increased in the past decades. General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection whereby the insurance carrier defends the insured and if found liable the insurance carrier pays the claimant up to the limit of liability on the policy.

Commercial General Liability policies can cover allegations of Bodily Injury, Property Damage, Personal and Advertising Injury resulting from these basic areas:

• ownership or use of the premises
• operations
• contractual agreements
• products made, sold or distributed
• completed operations

Umbrella Liability insurance provides additional limits of liability protection above underlying or primary policies such as General Liability, Automobile Liability and Employers Liability. In today’s litigious climate it is not uncommon to see high jury awards which without appropriate umbrella limits can lead to financial ruin.

Professional Liability, also known as Errors & Omissions Liability, can provide protection against claims that a firm or individual becomes legally obligated to pay as a result of an error in rendering or failure to render a professional service.

This coverage is different from General Liability, which covers alleged bodily injury or property damage. E & O insurance should be considered by companies and individuals such as asset managers, financial consultants, architects, engineers, accountants, lawyers and other businesses or individuals delivering professional services.

D&O liability insurance can protect the financial assets of a company and the personal assets of its directors and officers against certain allegations of wrongdoing. Typically policies cover directors and officers (and the company to the extent it indemnifies the directors and officers) for defense costs settlements and judgments on account of claims by shareholders, employees, creditors, customers, competitors, regulators and other third parties. D&O can provide coverage for a broad range of allegations such as: misrepresentations, breach of fiduciary duty/ mismanagement, negligence, antitrust, unfair trade practices, consumer protection violations, franchisee disputes, wrongful interference with a contract.

EPL insurance can protect an entity, its directors, officers and employees if a claim is brought by a current, past or present employee for a broad range of allegations. These allegations can include wrongful dismissal, discharge, termination of employment, violations of employment discrimination laws (including workplace harassment), wrongful failure to employ or promote wrongful deprivation of a career opportunity, negligent evaluation, invasion of privacy, employment related defamation and employment related emotional distress.

Pollution liability coverages are intended to provide protection for environmental risks associated with the ownership or lease of property, operating facility or construction operations. Pollution liability policies provide claims made coverage for pollution events emanating from a covered location or operation. Coverage is afforded for third party bodily injury, property damage, clean up and defense costs.