Commercial Liability

Commercial Liability Insurance, also commonly referred to as General Liability, is a broad insurance policy that covers general liability risks of a company.

Professional Liability Insurance (Errors & Omissions)

Errors & Omissions (E&O) covers a company, its workers, and other professionals against claims of negligence or inadequacy. Accountants, attorneys, insurance agents, architects, engineers, technology companies, etc. are generally required to carry this type of insurance to cover court costs and settlements up to the specified amount in the insurance contract.

If an adviser is sued by their client due to a poor investment, which is sometimes the case even when the risks were within the guidelines established by the client, this type of insurance would cover the legal fees. Even when the court is in favor of the adviser, the legal process can still be a costly one, which is why this type of insurance is often carried by any type of professional adviser.

The benefits of E&O insurance varies on each policy and insurance company, so it’s best to speak with a professional to learn the ins and outs of your specific coverage needs. For example, depending on the policy, some may or may not cover temporary employees, claims that occur before the policy was enforced, and so on.

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance covers a company and its employers against a claim made by an employee, such as wrongful termination, discrimination, sexual harassment, or other claim that violates that employee’s legal rights.

Directors and Officers Insurance (D&O)

This type of liability insurance covers a company or organization’s directors and officers in the event they are sued for acts of negligence or omissions and for misleading statements that result in a lawsuit. There are various types of D&O policies available including corporate reimbursement, personal liability, and entity coverage. Employment practices liability is also available.

To find out more about these, as well as other business insurance products and services, give us a call and we’ll help make sure you’re properly covered.