Professional Liability Insurance
Insurance is generally designed to protect the policy owner from losses due to accidents or other unforeseen events. This is easy to see in life insurance, auto insurance or fire insurance.
Workers’ compensation covers workers for work-related accidents and illnesses. Corporations, partnerships, LLCs, LLPs and sole proprietorships must have coverage if they have employees.
Business Owners Policies (BOP)
This type of policy is actually two types of coverage in one, and is appropriate for any small business. The first part of the BOP is called property coverage. This protects you if your firm suffers a loss to physical property.
Commercial Auto Insurance
Some firms choose to purchase vehicles through the company and obtain an auto insurance policy through a commercial insurer. In general these policies are more expensive than private auto insurers, but based on the firm’s usage of the vehicles this approach may makes sense.
Directors & Officers Liability
Key Employees are vital to any business, but mistakes will be made, and if they are made by the directors and officers of the company they could have a lasting effect on the business.
Employment Practices Liability Insurance
This is designed to protect you in the event of claims arising from employment practices including wrongful termination, harassment, age discrimination and other related charges such as emotional stress, defamation and right to privacy violations.
Many firms worry about funds being stolen or transferred out of an account. In this age of electronic banking, this is a real risk for all size firms.
Just about any organization that uses technology to do business faces a cyber risk. This type of coverage is designed to mitigate losses from a variety of cyber incidents.
Fiduciary Liability Insurance is targeted at protecting businesses’ and employers’ assets against fiduciary-related claims of mismanagement of employee benefit plans.