Business Insurance

 

Commercial General Liability Policy

A Commercial General Liability (CGL) insurance policy is the first line of defense against many common claims.

 

General Liability Insurance covers claims of bodily injury and/or property damage.  It is frequently offered in a package with Property Insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business.  Commercial General Liability Insurance enables your business to continue operations while it faces real or fraudulent claims of certain types of negligence or wrongdoing.  Commercial General Liability policies cover claims in four basic categories of business liability:

 

• Bodily Injury
• Property Damage
• Personal Injury (including slander or libel)

• Advertising Injury

 

COMMERCIAL PROPERTY

Whether it’s a building, business personal property, or lost business income, Commercial Property Insurance covers everything related to the loss and damage of company property due to a wide variety of events such as fire, smoke, wind and hail storms, civil disobedience, and vandalism.

 

COMMERCIAL AUTOMOBILE

Whether your automobile coverage needs are for a fleet of vehicles or for a single vehicle, we have the coverage to protect your business owned or leased vehicles.

 

Bender can develop Commercial Automobile Policies to include:

 

• Automobile Liability which includes coverage for bodily injury and/or property damage
• Uninsured and Underinsured Motorist
• Personal Injury Protection-No Fault Coverage
• Medical Payments
• Hired and non-owned coverage
• Physical Damage Coverage
  • Collision
  • Comprehensive

 

WORKER’S COMPENSATION AND EMPLOYERS LIABILITY

Every workplace, from offices to warehouses to factories, has safety concerns.  While we all try to provide the safest environment possible for our employees, injuries can occur.

 

Bender Insurance can help you navigate the Worker’s Compensation laws and requirements that vary state by state, ensuring that your employees and your company are covered properly.

 

UMBRELLA

Umbrella Coverage offers an extra layer of liability coverage to protect your company against accidents, lawsuits and other liabilities your business may face.  Umbrella Coverage provides your company additional liability limits above your primary carrier’s liability limits.

 

The cost of Umbrella Coverage is most likely less than you would have thought and the benefits can mean the difference between surviving a liability crisis and closing the doors to your business.  Umbrella Coverage should be a vital part of your business contingency plan.

 

BOILER AND MACHINERY

Coverage for loss due to a mechanical or electrical breakdown of equipment.

 

INLAND MARINE AND OCEAN MARINE

Inland Marine coverage is intended for property being transported from location to location, buildings under construction (builder’s risk), contractor’s equipment, and computer equipment, subject to “unique” causes of loss that traditional property policies do not cover.

 

Ocean Marine Insurance was first created to cover the transportation of goods over water, but the definition of the term has expanded to refer to the coverage of goods in transit on land, as well as to the property of others that is at your premises or being transported to or from your premises.

 

Crime and Fiduciary Liability

A Commercial Crime Policy typically provides several different types of crime coverage, such as: employee dishonesty coverage; forgery or alteration coverage; computer fraud coverage; funds transfer fraud coverage; kidnap, ransom, or extortion coverage; money and securities coverage; and money orders and counterfeit money coverage. Under the Employee Retirement Income Security Act of 1974 (ERISA), fiduciaries can be held personally liable for losses to a benefit plan incurred as a result of their alleged errors or omissions or breach of their fiduciary duties.

 

Cyber Liability

In the ever changing world of technology, a new exposure to business owners is Cyber Risk.  Cyber Liability Insurance can cover you for the expenses you incur from a data breach such as fixing the breach, loss of income, notifying your customers, public relations, and lawsuits.

 

Employment Practices Liability

Employment Practices Liability Insurance or (EPLI) is liability insurance that covers certain employment related claims made by employees.  Typically not covered under the Commercial General Liability policy, this important coverage goes uncovered by many insured’s.  Such coverage can also protect a business owner from meritless claims brought by disgruntled employees.  EPLI coverage can serve as a last line of defense against employment claims.

 

Pollution Liability

Pollution Liability Insurance is a type of insurance that covers costs related to pollution.  Pollution Insurance usually takes the form of first-party coverage for contamination of insured property either by external or on-site sources.  Coverage is also afforded for liability to third parties arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site.  The policy usually covers the costs of cleanup and may include coverage for releases from underground storage tanks.

 

PROFESSIONAL LIABILITY

Professional Liability Insurance, also known as Errors & Omissions, is coverage for professionals who have expertise in a specific area where General Liability Insurance policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice or misrepresentation.

Among the professions needing Professional Liability Coverage:

• Lawyers
• Medical Personnel
• Accountants
• Insurance Agents
• Consultants
• Financial Services

 

Management Liability-Directors and Officers

In today’s corporate world, smaller groups of partners or shareholders make the daily decisions regarding the management of the company.  This structure exposes those partners and shareholders to some of the liability faced by the Directors  & Officers of the company.  Executive Management Liability is a specialized insurance protecting these individuals in the course of their management of the business.

 

Credit Insurance

Trade Credit Insurance, Business Credit Insurance, Export Credit Insurance, commonly referred to as Credit Insurance, is an insurance policy and a risk management product offered by private insurance companies and government export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy.

 

Disability Insurance

Short Term Disability Insurance pays a percentage of your employee’s salary if they become temporarily disabled, due to sickness or injury not related to their job.