What you need to know about Commercial Liability Insurance
General liability, also known as “commercial liability insurance,” is a broad commercial insurance policy that covers general liability exposures of a business. Advisors Insurance Agency recommends that all businesses have general liability coverage in place.
Commercial liability insurance often includes bodily injury and property damage liability, personal and advertising injury, and medical payments, among others. Take a look at the list below for additional general liability coverage that is often available.
Professional Liability Insurance (Errors & Omissions)
Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. Advisors Insurance Agency recommends that all professional and technology companies have E&O coverage.
Are you a media-related firm, publisher, or broadcaster? You may want to consider Media Liability Insurance which is type of E&O Liability Insurance. This product covers a broad range of claims, including defamation, infringement of copyright, plagiarism and other specifically named perils. Your Advisor can confirm what you should include in your policy.
Employment Practices Liability Insurance (EPLI)
Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, Advisors Insurance Agency recommends considering this type of coverage.
Directors and Officers Insurance (D&O)
Directors and Offices Insurance (D&O) covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. Additionally, D&O policies may be broadened to include coverage for employment practices liability as well.
So, do you have the proper commercial liability insurance? Make sure you have regular conversations with your Advisor regarding your policies and what they cover.
To find out more about these, as well as other products and services, call Advisors Insurance Agency at 864-509-0009 and we’ll help make sure you’re properly covered.
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