benchmark commercial insurance services

commercial insurance

You work hard to keep your business successful, not to administer an insurance program for your insurance company or broker. At benchmark, we work hard at Risk Management and insurance so our clients don’t have to.

we ask the “what if” questions before you experience an event that would require the answer.

Our goal is to understand all of the moving parts of your business operation so we can provide you with an analysis of how your current insurance program protects what you actually do. It is through this analysis that we can provide you with all of the information you need, so together, we can create a Business Protection Solution that meets your risk management goals and objectives.

commercial insurance

You work hard to keep your business successful, not to administer an insurance program for your insurance company or broker. At benchmark, we work hard at Risk Management and insurance so our clients don’t have to.

we ask the “what if” questions before you experience an event that would require the answer.

Our goal is to understand all of the moving parts of your business operation so we can provide you with an analysis of how your current insurance program protects what you actually do. It is through this analysis that we can provide you with all of the information you need, so together, we can create a Business Protection Solution that meets your risk management goals and objectives.

liability

One of the key concepts of liability coverage is that it is comprehensive in nature. What this means is that the policy (insuring agreement) covers all hazards within the scope of the insuring agreement that is not otherwise excluded. It is likewise comprehensive in that it provides automatic coverage for new locations and activities of your business, which come about after policy inception and throughout the policy term. Commercial General Liability (CGL) is the standard commercial liability policy used to insure a business.

liability policies overview

commercial general liability insurance

One of the key concepts of liability coverage is that it is comprehensive in nature. What this means is that the policy (insuring agreement) covers all hazards within the scope of the insuring agreement that are not otherwise excluded. It is likewise comprehensive in that it provides automatic coverage for new locations and activities of your business, which come about after policy inception and throughout the policy term. Commercial General Liability (CGL) is the standard commercial liability policy used to insure a business.

products and completed operations

Products hazard arises from the manufacturing or selling of a product such as an air conditioner. A compressor that our Insured sold and installed for the client may have been defective and caused a fire damaging the building.

Completed Operations is a hazard that remains after the contractor has completed the job. In the air conditioner example above, if the compressor was improperly installed and later caused fire damage due to the improper installation, any resulting injuries or Property Damage would be said to emanate from the Completed Operations hazard.

business auto insurance & trucking insurance

Perhaps one of the most important considerations when buying a business auto policy is to check the auto symbols. Make sure you are aware of the symbols on your policy in case you buy or lease a new vehicle. These symbols define when and if vehicles are covered under your business auto policy. Here is a list of the covered auto symbols.

Covered Auto Symbols

  1. Any auto
  2. All owned autos
  3. Owned Private Passenger autos
  4. Owned autos other than PP
  5. All Owned Autos — No-Fault
  6. Owned Autos Subject to U.M.
  7. Autos Specified on Schedule
  8. Hired Autos
  9. Non-Owned Autos

Auto Liability — Covers against Bodily Injury and Property Damage for which the insured may become liable.

Medical Payments — Covers payment for injury to the insured and/or passengers in the insured automobile when a loss occurs.

Uninsured and Underinsured Motorist — Pays damages for Bodily Injury caused by drivers of uninsured vehicles, when such drivers are legally liable for injury to the insured and/or passengers.

Comprehensive Coverage — Provides coverage for your vehicle for damage other than collision.

Collision Coverage — Provides coverage for loss or damage in excess of the deductible to an insured vehicle.

Specified Causes Of Loss — Provides coverage for your vehicle for damage resulting from fire, lightning, explosion, theft, windstorm hail, earthquake, flood mischief, vandalism, sinking, burning, collision or derailment while transported on a conveyance. (this coverage would be in lieu of Comprehensive)

Hired Auto Coverage — Covers liability only, for your company while driving a leased, hired, rented, or borrowed vehicle.

Non-Owned Auto Coverage — Covers bodily injury and property damage for your company while vehicles are used by employees for your business use.

Non-Owned Physical Damage — Covers property damage to vehicles you rent or hire for your business.

On-Hook Liability — Covers customers cars while under the operation of tow truck type automobiles while towing vehicles and while transporting vehicles on crane, dolly attached to such tow truck, or on the bed of an auto carrier type truck. Safety Chain warranty — towed vehicle must chained to tow truck at all times.

Rental Car Coverage — Includes coverage to rent a vehicle in the event of a covered loss.

Towing — Covers cost to tow an insured vehicle.

Driver Other Car Coverage — Unlike your personal auto insurance policy, business auto insurance does not cover you when you drive vehicles not owned by the business or listed on the business auto insurance policy. If you are a business owner and have your personal use vehicle insured on your business auto policy and don’t have personal auto insurance, you need to add DOC Broad Form coverage to your business auto policy. With DOC you are then covered if you drive a vehicle not covered or listed on you business auto policy, such as a friend or relatives vehicle.

Trailer Interchange Liability — Insurance coverage for truckers who frequently trade trailers under an agreement that makes them responsible for any damage to a trailer in their care or custody. It covers the insured’s liability for damage to a trailer not belonging to the insured.

Pollution — If you transport chemicals, paints, or other solvents your auto policy does not provide coverage for spilling these chemicals even in the event of an auto accident. Most policies will only pay pollution clean up expense for chemicals and fluids that are used as part of the vehicles engine. Oil, gas, transmission fluid etc. If you were hauling a few cans of paint and were involved in an accident and the paint spilled into a waterway there would be no coverage for the clean up or contamination. You would need to buy a separate pollution policy to cover this exposure.

wrap-up, OCIP, CCIP insurance

Incorporates the site liability as well as products/ completed operations (construction defects) coverage for the Developer, General Contractor, and all enrolled construction trades for the the ten-year statute of repose.

garage liability including garage keeper’s

Garage insurance has several options and requires an insurance specialist to guide you and recommend the best coverage to protect your business. One of the most important things to consider is how you are going to insure your customer’s vehicles.

This is called Garage keepers coverage.

Legal Liability — Coverage is provided when, as a result of your negligence, you become legally liable for damage.

For example: You are test-driving a customer’s car and collide with a parked car.

This is the most commonly written form of Garage keepers coverage, but it is very dangerous for you, as the garage owner. Consider: You have the care and custody of your customer’s second-largest investment, but if the car is damaged, you are not covered unless you were negligent or legally liable. For example, damage to your customer’s vehicle where you may not be negligent include:

Hail storm.

Vandalism on a locked, lighted lot.

You are test-driving the car and are hit while stopped at a stop light.

umbrella & excess liability coverage

A form of liability insurance protecting policyholders for claims in excess of the limits of their business automobile, general liability and workers compensation policies, and it may also provide coverage for exposures not covered by the primary policies.

pollution insurance

Provides protection for the liability exposures that may result from damage, injury, and clean-up costs caused by pollution. This coverage is excluded in the standard Commercial General Liability. Contractors and Painters will also have Lead Paint and Asbestos exclusions. Pollution contamination and clean-up costs can run into the hundreds of thousands of dollars.

Most businesses have a pollution exposure and don’t realize it. Worse than that are the businesses that have a pollution exposure and don’t insure it. For some businesses, the need for pollution coverage is painfully obvious. Gas Stations, recyclers, remediation contractors, dry cleaners, property owners, are just a few.

bailees’ liability insurance

Bailee’s liability insurance provides loss and damage coverage for the damage or destruction of property while under the care of a person or organization named the “bailee”.  That is the entity that is hired to take temporary possession of another’s personal property. Examples of bailees are: a dry cleaner, parking valet, jeweler, or self-storage company.

global liability

A Global Insurance policy helps protect a company’s operations throughout the world from a variety of claims, including property damage, bodily injury, or cyber and data breach. It can also help ease the claims process and elevate the customer experience when the provider has local relationships and capabilities on the ground.

commercial general liability insurance

One of the key concepts of liability coverage is that it is comprehensive in nature. What this means is that the policy (insuring agreement) covers all hazards within the scope of the insuring agreement that are not otherwise excluded. It is likewise comprehensive in that it provides automatic coverage for new locations and activities of your business, which come about after policy inception and throughout the policy term. Commercial General Liability (CGL) is the standard commercial liability policy used to insure a business.

products and completed operations

Products hazard arises from the manufacturing or selling of a product such as an air conditioner. A compressor that our Insured sold and installed for the client may have been defective and caused a fire damaging the building.

Completed Operations is a hazard that remains after the contractor has completed the job. In the air conditioner example above, if the compressor was improperly installed and later caused fire damage due to the improper installation, any resulting injuries or Property Damage would be said to emanate from the Completed Operations hazard.

business auto insurance & trucking insurance

Perhaps one of the most important considerations when buying a business auto policy is to check the auto symbols. Make sure you are aware of the symbols on your policy in case you buy or lease a new vehicle. These symbols define when and if vehicles are covered under your business auto policy. Here is a list of the covered auto symbols.

Covered Auto Symbols

  1. Any auto
  2. All owned autos
  3. Owned Private Passenger autos
  4. Owned autos other than PP
  5. All Owned Autos — No-Fault
  6. Owned Autos Subject to U.M.
  7. Autos Specified on Schedule
  8. Hired Autos
  9. Non-Owned Autos

Auto Liability — Covers against Bodily Injury and Property Damage for which the insured may become liable.

Medical Payments — Covers payment for injury to the insured and/or passengers in the insured automobile when a loss occurs.

Uninsured and Underinsured Motorist — Pays damages for Bodily Injury caused by drivers of uninsured vehicles, when such drivers are legally liable for injury to the insured and/or passengers.

Comprehensive Coverage — Provides coverage for your vehicle for damage other than collision.

Collision Coverage — Provides coverage for loss or damage in excess of the deductible to an insured vehicle.

Specified Causes Of Loss — Provides coverage for your vehicle for damage resulting from fire, lightning, explosion, theft, windstorm hail, earthquake, flood mischief, vandalism, sinking, burning, collision or derailment while transported on a conveyance. (this coverage would be in lieu of Comprehensive)

Hired Auto Coverage — Covers liability only, for your company while driving a leased, hired, rented, or borrowed vehicle.

Non-Owned Auto Coverage — Covers bodily injury and property damage for your company while vehicles are used by employees for your business use.

Non-Owned Physical Damage — Covers property damage to vehicles you rent or hire for your business.

On-Hook Liability — Covers customers cars while under the operation of tow truck type automobiles while towing vehicles and while transporting vehicles on crane, dolly attached to such tow truck, or on the bed of an auto carrier type truck. Safety Chain warranty — towed vehicle must chained to tow truck at all times.

Rental Car Coverage — Includes coverage to rent a vehicle in the event of a covered loss.

Towing — Covers cost to tow an insured vehicle.

Driver Other Car Coverage — Unlike your personal auto insurance policy, business auto insurance does not cover you when you drive vehicles not owned by the business or listed on the business auto insurance policy. If you are a business owner and have your personal use vehicle insured on your business auto policy and don’t have personal auto insurance, you need to add DOC Broad Form coverage to your business auto policy. With DOC you are then covered if you drive a vehicle not covered or listed on you business auto policy, such as a friend or relatives vehicle.

Trailer Interchange Liability — Insurance coverage for truckers who frequently trade trailers under an agreement that makes them responsible for any damage to a trailer in their care or custody. It covers the insured’s liability for damage to a trailer not belonging to the insured.

Pollution — If you transport chemicals, paints, or other solvents your auto policy does not provide coverage for spilling these chemicals even in the event of an auto accident. Most policies will only pay pollution clean up expense for chemicals and fluids that are used as part of the vehicles engine. Oil, gas, transmission fluid etc. If you were hauling a few cans of paint and were involved in an accident and the paint spilled into a waterway there would be no coverage for the clean up or contamination. You would need to buy a separate pollution policy to cover this exposure.

wrap-up, OCIP, CCIP insurance

Incorporates the site liability as well as products/ completed operations (construction defects) coverage for the Developer, General Contractor, and all enrolled construction trades for the the ten-year statute of repose.

garage liability including garage keeper’s

Garage insurance has several options and requires an insurance specialist to guide you and recommend the best coverage to protect your business. One of the most important things to consider is how you are going to insure your customer’s vehicles.

This is called Garage keepers coverage.

Legal Liability — Coverage is provided when, as a result of your negligence, you become legally liable for damage.

For example: You are test-driving a customer’s car and collide with a parked car.

This is the most commonly written form of Garage keepers coverage, but it is very dangerous for you, as the garage owner. Consider: You have the care and custody of your customer’s second-largest investment, but if the car is damaged, you are not covered unless you were negligent or legally liable. For example, damage to your customer’s vehicle where you may not be negligent include:

Hail storm.

Vandalism on a locked, lighted lot.

You are test-driving the car and are hit while stopped at a stop light.

umbrella & excess liability coverage

A form of liability insurance protecting policyholders for claims in excess of the limits of their business automobile, general liability and workers compensation policies, and it may also provide coverage for exposures not covered by the primary policies.

pollution insurance

Provides protection for the liability exposures that may result from damage, injury, and clean-up costs caused by pollution. This coverage is excluded in the standard Commercial General Liability. Contractors and Painters will also have Lead Paint and Asbestos exclusions. Pollution contamination and clean-up costs can run into the hundreds of thousands of dollars.

Most businesses have a pollution exposure and don’t realize it. Worse than that are the businesses that have a pollution exposure and don’t insure it. For some businesses, the need for pollution coverage is painfully obvious. Gas Stations, recyclers, remediation contractors, dry cleaners, property owners, are just a few.

Bailees’ liability insurance

Bailee’s liability insurance provides loss and damage coverage for the damage or destruction of property while under the care of a person or organization named the “bailee”.  That is the entity that is hired to take temporary possession of another’s personal property. Examples of bailees are: a dry cleaner, parking valet, jeweler, or self-storage company.

global liability

A Global Insurance policy helps protect a company’s operations throughout the world from a variety of claims, including property damage, bodily injury, or cyber and data breach. It can also help ease the claims process and elevate the customer experience when the provider has local relationships and capabilities on the ground.

executive protection

In today’s increasingly perilous and litigious business environment, every company faces risk. It is an unfortunate fact that any of your company’s many constituents — including employees, investors, customers, suppliers, competitors, government agencies, and creditors — pose a financial risk to your business. Any one of them could sue your company or target it for criminal activity.

How your company deals with a wide range of unanticipated and often complex financial threats directly impacts its bottom line — not to mention the personal wealth of its owners and employees.

That is why so many private companies appreciate having a trustworthy Broker they can count on to understand their business needs and to be there when they need help most — when they have a claim. At benchmark, we are committed to helping protect private companies like yours through flexible insurance coverage, innovative risk management and loss control resources and practical education.

executive protection policies overview

directors & operators liability insurance

Protects officers and directors of a corporation against damages from claims resulting from negligent or wrongful acts in the course of their duties. Also covers the corporation, the officers, and directors for expenses incurred in defending lawsuits arising from alleged wrongful acts of officers or directors.

EPLI

Employment Practices Liability protects your company from allegations (substantiated or not) of wrongful termination, sexual harassment, discrimination, and hostile workplace. Fueled by the “me too” movement, the legislative, and the case law environment that is heavily weighted in the employees’ favor, the associated wave of claims has forced carriers to increase both the cost of coverage and the deductible structure in order to remain profitable in this line of coverage.  

cyber liability/tech E&O

Cyberwarfare is not just for meddling in elections and extorting multinational corporations.  Companies of all sizes and types can fall victim to enterprising hackers and cyber extortionists.  The question all companies must ask themselves is not “what is my data worth to someone else?”, but “what is my data worth to me?”  Of course, well-crafted IT protections are a crucial first line of defense, but if the protections fail, could your company shoulder the cost of an uncovered claim or ransom payment? Cyber insurance coverage is likely broader and less expensive than you would think.

media liability insurance

Media liability coverage protects the insured against claims arising out of the gathering and communication of information, is critical to any media organization. The variety of claims being asserted against the media, and the size of jury verdicts against media organizations, are constantly on the increase. According to data released by the Libel Defense Resource Center, the median jury award against media organizations in 1990 was $500,000; in 1997, it was $2.3 million.

Although the First Amendment provides important defenses to the news media, the costs of vindicating those defenses in court can be staggering. In addition to defense expenses, jury awards against news organizations can be significant, and the size of the average award is increasing. According to the Libel Defense Resource Center, in 1990, the median jury award against a news organization was $550,000; in 1997, it was $2.3 million.

trade credit

Trade credit insurance protects manufacturers, traders, and service providers against losses from non-payment of commercial trade debt due to bankruptcy or insolvency or very late payments.

Trade Credit insurance will pay out a percentage of the outstanding debt.

Trade credit insurance can prevent bankruptcies, and help companies manage cash flow and credit.

Trade Credit insurance may also allow a business to negotiate improved terms (lower interest rate and a higher credit line) with its lending partner.

fiduciary liability

Fiduciary liability insurance is often described as similar to errors and omissions (E&O) insurance. It protects employers in administering retirement plans plans, such as improper enrollment or terminations, resulting in lost or incorrect benefits; Errors in counseling when administering health or welfare plans, resulting in lost or incorrect benefits; Giving poor or negligent advice on investing employees’ retirement plans; Making risky investments in a defined benefit pension plan; Wrongful denial or improper change in benefits; Imprudent selection of and/or monitoring or third-party service providers.

representations & warranties

A representation or warranty is made in writing by a seller in a business transaction.

Generally, representations are statements of past and existing facts; warranties are promises that existing or future facts are or will be true. These representations and warranties provide the buyer with information essential to the decision to implement the transaction.

What are some of the typical representations and warranties of sellers in a transaction?

Representations and warranties are found in a transaction document (e.g. the purchase & sale agreement) and will vary greatly depending upon the nature of the transaction. Some of the more common representations and warranties of sellers found in such documents relate to:

  1. Financial statements
  2. Accounts receivable
  3. Taxes
  4. Employee benefits
  5. Intellectual property

For example, a representation or warranty relative to financial statements may provide assurances regarding the quality and accuracy of these statements. While the accounts receivable representation or warranty may offer line-item support to the more general representations regarding the financial statements as a whole.

intellectual property

IP insurance covers companies for the legal costs associated with pursuing infringement or theft of IP. It also covers legal defense costs for policyholders accused of IP infringement or theft. There are two basic types of IP insurance:

Infringement Defense: covers policyholders for infringement claims brought against them.
Abatement Enforcement: gives the insured the financial resources to enforce their IP rights and pursue infringement claims.

directors & operators liability insurance

Protects officers and directors of a corporation against damages from claims resulting from negligent or wrongful acts in the course of their duties. Also covers the corporation, the officers, and directors for expenses incurred in defending lawsuits arising from alleged wrongful acts of officers or directors.

EPLI

Employment Practices Liability protects your company from allegations (substantiated or not) of wrongful termination, sexual harassment, discrimination, and hostile workplace. Fueled by the “me too” movement, the legislative, and the case law environment that is heavily weighted in the employees’ favor, the associated wave of claims has forced carriers to increase both the cost of coverage and the deductible structure in order to remain profitable in this line of coverage.

cyber liability | tech E&O

Cyber warfare is not just for meddling in elections and extorting multinational corporations.  Companies of all sizes and types can fall victim to enterprising hackers and cyber extortionists.  The question all companies must ask themselves is not “what is my data worth to someone else?”, but “what is my data worth to me?”  Of course, well-crafted IT protections are a crucial first line of defense, but if the protections fail, could your company shoulder the cost of an uncovered claim or ransom payment? Cyber insurance coverage is likely broader and less expensive than you would think.

media liability insurance

Media liability coverage protects the insured against claims arising out of the gathering and communication of information, is critical to any media organization. The variety of claims being asserted against the media, and the size of jury verdicts against media organizations, are constantly on the increase. According to data released by the Libel Defense Resource Center, the median jury award against media organizations in 1990 was $500,000; in 1997, it was $2.3 million.

Although the First Amendment provides important defenses to the news media, the costs of vindicating those defenses in court can be staggering. In addition to defense expenses, jury awards against news organizations can be significant, and the size of the average award is increasing. According to the Libel Defense Resource Center, in 1990, the median jury award against a news organization was $550,000; in 1997, it was $2.3 million.

trade credit

Trade credit insurance protects manufacturers, traders, and service providers against losses from non-payment of commercial trade debt due to bankruptcy or insolvency or very late payments.

Trade Credit insurance will pay out a percentage of the outstanding debt.

Trade credit insurance can prevent bankruptcies, and help companies manage cash flow and credit.

Trade Credit insurance may also allow a business to negotiate improved terms (lower interest rate and a higher credit line) with its lending partner.

fiduciary liability

Fiduciary liability insurance is often described as similar to errors and omissions (E&O) insurance. It protects employers in administering retirement plans plans, such as improper enrollment or terminations, resulting in lost or incorrect benefits; Errors in counseling when administering health or welfare plans, resulting in lost or incorrect benefits; Giving poor or negligent advice on investing employees’ retirement plans; Making risky investments in a defined benefit pension plan; Wrongful denial or improper change in benefits; Imprudent selection of and/or monitoring or third-party service providers.

representations & warranties

A representation or warranty is made in writing by a seller in a business transaction.

Generally, representations are statements of past and existing facts; warranties are promises that existing or future facts are or will be true. These representations and warranties provide the buyer with information essential to the decision to implement the transaction.

What are some of the typical representations and warranties of sellers in a transaction?

Representations and warranties are found in a transaction document (e.g. the purchase & sale agreement) and will vary greatly depending upon the nature of the transaction. Some of the more common representations and warranties of sellers found in such documents relate to:

  1. Financial statements
  2. Accounts receivable
  3. Taxes
  4. Employee benefits
  5. Intellectual property

For example, a representation or warranty relative to financial statements may provide assurances regarding the quality and accuracy of these statements. While the accounts receivable representation or warranty may offer line-item support to the more general representations regarding the financial statements as a whole.

intellectual property

IP insurance covers companies for the legal costs associated with pursuing infringement or theft of IP. It also covers legal defense costs for policyholders accused of IP infringement or theft. There are two basic types of IP insurance:

Infringement Defense: covers policyholders for infringement claims brought against them.
Abatement Enforcement: gives the insured the financial resources to enforce their IP rights and pursue infringement claims.

employee coverage

Injuries and deaths among United States workers cost billions of dollars and millions of lost work days a year, cutting into every dollar of your pre-tax profit. We can help you manage worker injuries and stay on top of the factors that drive up costs. Our loss control specialists help companies identify the causes of workplace injuries and illnesses, then reduce or eliminate the factors in the workplace that lead to claims. We can also help manage the indirect costs associated with workplace accidents and disruption.

benchmark excels in service and knowledge with dedicated loss prevention specialists. Our claim service is based on the premise that early attention to an employee’s injury, management of appropriate care and recuperation, and a plan for returning to work help to reduce expenses significantly. We provide assistance in preventing and controlling minor claim costs and control complex claims.

employee coverage policies overview

workers compensation insurance

Workers Compensation insurance pays benefits to your employees if they are injured while on the job. Specifically, it covers their medical bills, a portion of lost wages, vocational rehabilitation and death benefits. Almost every state requires by law that employers carry some form of workers’ compensation insurance. Because the coverage amount is established by state law, benefits do not vary from company to company within the same state.

what does workers’ compensation cover?

  • Benefits paid to employees generally include:
  • Unlimited reimbursement of medical expenses
  • A portion of lost wages
  • Some vocational rehabilitation
  • A survivors death benefits paid to the employer generally include:
  • Responses to lawsuits brought by injured employees or their dependents for grossly negligent acts by the employer
  • Protection against employee claims for pain and suffering and loss of relationship (except in North Dakota, Nevada, Washington, West Virginia, Wyoming, and Ohio)

who does workers’ compensation cover?

Workers’ compensation covers all the employees of the small business. Special provisions must be made if employees work out of state. It can cover the business owner if the business is a corporation, and the owner is actively involved in the business.

defense based act

The Defense Base Act provides workers’ compensation protection to civilian employees working outside the United States on U.S. military bases or under a contract with the U.S. government for public works or for national defense.

employee fidelity (crime)

Employee fidelity and crime insurance covers the most common threats to organizations, including losses due to employee dishonesty, credit card forgery, computer fraud and theft, and theft or destruction of property.

employee benefits liability

Employee Benefits Liability is simply an endorsement you add to your general liability insurance policy. It covers insured’s in the event they make an error in enrolling an employee in company-sponsored employee benefits programs such as group health, medical, dental, etc. This coverage is often overlooked. If you have a benefits program for your employees it is highly recommended you consult with your agent to see if you are in need of adding this endorsement to your general liability policy.

kidnap & ransom

Companies recognize the need to be a part of the global marketplace and corporate employees conducting business outside their own country expect to encounter language barriers, exotic customs and diverse negotiation styles. What they cannot predict is political upheaval and increasing danger of abduction and after a kidnapping or extortion threat are vital elements of corporate risk management.

workplace violence coverage

Workplace Violence Insurance includes coverage for the expenses that a company incurs resulting from workplace violence incidents. The policies cover items such as the cost of hiring independent security consultants, public relations experts, death benefits to survivors, and business interruption (BI) expenses.

workers compensation insurance

Workers Compensation insurance pays benefits to your employees if they are injured while on the job. Specifically, it covers their medical bills, a portion of lost wages, vocational rehabilitation and death benefits. Almost every state requires by law that employers carry some form of workers’ compensation insurance. Because the coverage amount is established by state law, benefits do not vary from company to company within the same state.

what does workers’ compensation cover?

  • Benefits paid to employees generally include:
  • Unlimited reimbursement of medical expenses
  • A portion of lost wages
  • Some vocational rehabilitation
  • A survivors death benefits paid to the employer generally include:
  • Responses to lawsuits brought by injured employees or their dependents for grossly negligent acts by the employer
  • Protection against employee claims for pain and suffering and loss of relationship (except in North Dakota, Nevada, Washington, West Virginia, Wyoming, and Ohio)

who does workers’ compensation cover?

Workers’ compensation covers all the employees of the small business. Special provisions must be made if employees work out of state. It can cover the business owner if the business is a corporation, and the owner is actively involved in the business.

defense based act

The Defense Base Act provides workers’ compensation protection to civilian employees working outside the United States on U.S. military bases or under a contract with the U.S. government for public works or for national defense.

employee fidelity (crime)

Employee fidelity and crime insurance covers the most common threats to organizations, including losses due to employee dishonesty, credit card forgery, computer fraud and theft, and theft or destruction of property.

employee benefits liability

Employee Benefits Liability is simply an endorsement you add to your general liability insurance policy. It covers insured’s in the event they make an error in enrolling an employee in company-sponsored employee benefits programs such as group health, medical, dental, etc. This coverage is often overlooked. If you have a benefits program for your employees it is highly recommended you consult with your agent to see if you are in need of adding this endorsement to your general liability policy.

kidnap & ransom

Companies recognize the need to be a part of the global marketplace and corporate employees conducting business outside their own country expect to encounter language barriers, exotic customs and diverse negotiation styles. What they cannot predict is political upheaval and increasing danger of abduction and after a kidnapping or extortion threat are vital elements of corporate risk management.

workplace violence coverage

Workplace Violence Insurance includes coverage for the expenses that a company incurs resulting from workplace violence incidents. The policies cover items such as the cost of hiring independent security consultants, public relations experts, death benefits to survivors, and business interruption (BI) expenses.

property coverage

Property Insurance is designed to replace property damage arising from claims covered under the provisions of the policy. Determining whether a claim is caused by a “covered peril” is often difficult and confusing. “Peril” refers to what caused the damage to happen in the first place. Some instances are obvious such as fires or vandalism. Other causes of damage can be more confusing such as Off Premises Power Failure or Sprinkler Leakage.

property coverage policies overview

building

Covers buildings against direct physical damage, subject to standard policy exclusions. Valuation can be based upon Replacement Cost or Actual Cash Value.

business income

This is perhaps the most important part of any insurance policy. Covers loss of income less non-continuing expenses due to the necessary suspension of business operations during the period of restoration. Interruption must be caused due to damage at the described location and caused by a covered peril. There are several options to the loss of income form, you can choose to include payroll for certain employees or choose to insure only the net income. One of the best forms of coverage you can find is Actual Loss Sustained for 12 Months (ALS). This coverage pays your actual loss of income for up to 12 months. Consult carefully with your agent to find the right coverage for your business.

business personal property

Covers personal property and contents against direct physical damage subject to standard policy exclusions. Valuation can be based upon Replacement Cost or Actual Cash Value

course of construction coverage

Course of Construction (COC), also known as Builder’s Risk Insurance, is designed to protect owners and contractors from the devastating impact of fires, floods, vandalism, theft, and other unwelcome accidents on a construction project.

there are two classes of personal property of others

  1. Leased personal property: To qualify for coverage on leased property — such as computers, telephone systems, and photocopiers — there needs to be a contract requiring the bailee to maintain some kind of insurance on the leased property.
  2. Other personal property in the named insured’s care, custody or control: When personal property of others in the care, custody, or control of the named insured is not leased, meaning there is no contract that requires insurance on that property, it is considered to be subject to Personal Property of Others coverage

inland marine coverage

The most important thing to remember about insuring your property and equipment is the location where it will be stored or used. Under the definition of a standard property insurance policy property and equipment are only insured within 1,000 feet of the insured’s premises. If a loss occurs to property or equipment that is over 1,000 feet away from the premises there may be no coverage for them. That is where Inland Marine coverage kicks in. With Inland Marine you can insure a wide variety of property, goods, and equipment in different ways. A good example of a potential uncovered claim would be a forklift. Suppose you are carrying goods to a nearby warehouse and along the way the forklift is hit and damaged by a vehicle? Or you store the forklift at another location and it is stolen. If the forklift is more than 1,000 feet off-premises it will not be covered under a property policy.

Covers tools on and away from your premises against direct physical loss subject to standard policy exclusions. Check your policy for locked vehicle or locked toolbox exclusions.

Covers equipment on and away from your premises against direct physical loss subject to standard policy exclusions. All equipment is subject to standard policy exclusions.

Covers materials and supplies during transportation and installation. If you have materials at site waiting to be installed you better get a floater to cover the materials on site before and during installation in case of theft.

Covers all sums due the insured from his customers provided the insured is unable to effect collection as direct result of loss or damage to his records of Accounts Receivable.

Coverage consists of written documents and records, including books, maps, films, drawings, deeds, mortgages, and manuscripts, but not money and securities. Coverage is against risks of direct physical loss.

Insures against risks of direct physical loss or damage to insured’s computer hardware, subject to policy conditions or exclusions.

Property At Any Other Location

Salesmen’s Samples Provides coverage for all direct physical loss or damage to glass described in the glass schedule, subject to policy conditions or exclusions.

Provides coverage for all direct physical loss or damage to glass described in the glass schedule, subject to policy conditions or exclusions. Always check to see if you can buy down the glass deductible. Most policies the glass deductible is the same as the property deductible. You might be carrying a $1,000 deductible on your property and most glass claims will fall below this.

Provides coverage for all direct physical loss or damage to signs described in the sign schedule, subject to policy conditions or exclusions.

Covers cargo owned or sold to others while it is loaded for shipment in or on described vehicles.

Covers your property while it is being transported from one point to another while it is in the insured’s vehicle or in the care, custody or control of others.

Covers direct physical loss to property of others while it is in your care, custody, or control. This is extremely important for any business who repairs the goods of others, dry cleaners, office machine repairs, tv-stereo-vcr repairs, tailors, etc.

ocean marine insurance

Ocean marine encompasses a variety of insurance coverages designed to protect merchandise, goods, workers, passengers and crews aboard shipping vessels and cargo storage during marine transport domestically or abroad.

cargo/ domestic transit coverage

Domestic inland truck cargo insurance is a type of inland marine insurance coverage that covers loss of property in the course of transit through the use of a common carrier.

data processing coverage

Property insurance for electronic data processing (EDP) equipment (computers), computer programs, and data. Typically includes coverage for perils to which such property is especially susceptible: mechanical breakdown, electrical injury, and changes in temperature and humidity.

contractor’s equipment coverage

A Contractor’s Equipment Insurance policy provides coverage for the direct physical damage/loss to mobile machinery and equipment that is most often used in the construction industry. … Among other things, the policy provides the necessary protection against perils such as fire, vandalism, theft and flood.

dependent property / BI

Secondary Dependent Properties — commercial property insurance term relating to dependent properties business income or extra expense coverage (previously referred to as contingent business income or extra expense coverage). Dependent properties business income or extra expense coverage provides coverage for the insured’s income or expense loss resulting from damage by a covered cause to the property of another business on which the insured depends, to purchase the insured’s good and services, to supply materials or services to the insured, or to attract customers to the insured’s business. A secondary dependent location is a facility of yet another business that provides materials or supplies to (or accepts materials and supplies from) a primary dependent location of the insured. Beginning with the 2012 editions, standard dependent property business income and extra expense coverage endorsements include an option to cover loss due to damage from a covered cause of loss to secondary contributing and recipient dependent properties.

building ordinance insurance

Building ordinance coverage is insurance that covers the increased costs associated with repairing a damaged building. Such costs are due to changes in building codes since the building’s construction date.

building

Covers buildings against direct physical damage, subject to standard policy exclusions. Valuation can be based upon Replacement Cost or Actual Cash Value.

business income

This is perhaps the most important part of any insurance policy. Covers loss of income less non-continuing expenses due to the necessary suspension of business operations during the period of restoration. Interruption must be caused due to damage at the described location and caused by a covered peril. There are several options to the loss of income form, you can choose to include payroll for certain employees or choose to insure only the net income. One of the best forms of coverage you can find is Actual Loss Sustained for 12 Months (ALS). This coverage pays your actual loss of income for up to 12 months. Consult carefully with your agent to find the right coverage for your business.

business personal property

Covers personal property and contents against direct physical damage subject to standard policy exclusions. Valuation can be based upon Replacement Cost or Actual Cash Value

course of construction coverage

Course of Construction (COC), also known as Builder’s Risk Insurance, is designed to protect owners and contractors from the devastating impact of fires, floods, vandalism, theft, and other unwelcome accidents on a construction project.

there are two classes of personal property of others

  1. Leased personal property: To qualify for coverage on leased property — such as computers, telephone systems, and photocopiers — there needs to be a contract requiring the bailee to maintain some kind of insurance on the leased property.
  2. Other personal property in the named insured’s care, custody or control: When personal property of others in the care, custody, or control of the named insured is not leased, meaning there is no contract that requires insurance on that property, it is considered to be subject to Personal Property of Others coverage

inland marine coverage

The most important thing to remember about insuring your property and equipment is the location where it will be stored or used. Under the definition of a standard property insurance policy property and equipment are only insured within 1,000 feet of the insured’s premises. If a loss occurs to property or equipment that is over 1,000 feet away from the premises there may be no coverage for them. That is where Inland Marine coverage kicks in. With Inland Marine you can insure a wide variety of property, goods, and equipment in different ways. A good example of a potential uncovered claim would be a forklift. Suppose you are carrying goods to a nearby warehouse and along the way the forklift is hit and damaged by a vehicle? Or you store the forklift at another location and it is stolen. If the forklift is more than 1,000 feet off-premises it will not be covered under a property policy.

ocean marine insurance

Ocean marine encompasses a variety of insurance coverages designed to protect merchandise, goods, workers, passengers and crews aboard shipping vessels and cargo storage during marine transport domestically or abroad.

cargo/ domestic transit coverage

Domestic inland truck cargo insurance is a type of inland marine insurance coverage that covers loss of property in the course of transit through the use of a common carrier.

data processing coverage

Property insurance for electronic data processing (EDP) equipment (computers), computer programs, and data. Typically includes coverage for perils to which such property is especially susceptible: mechanical breakdown, electrical injury, and changes in temperature and humidity.

contractor’s equipment coverage

A Contractor’s Equipment Insurance policy provides coverage for the direct physical damage/loss to mobile machinery and equipment that is most often used in the construction industry. … Among other things, the policy provides the necessary protection against perils such as fire, vandalism, theft and flood.

dependent property / BI

Secondary Dependent Properties — commercial property insurance term relating to dependent properties business income or extra expense coverage (previously referred to as contingent business income or extra expense coverage). Dependent properties business income or extra expense coverage provides coverage for the insured’s income or expense loss resulting from damage by a covered cause to the property of another business on which the insured depends, to purchase the insured’s good and services, to supply materials or services to the insured, or to attract customers to the insured’s business. A secondary dependent location is a facility of yet another business that provides materials or supplies to (or accepts materials and supplies from) a primary dependent location of the insured. Beginning with the 2012 editions, standard dependent property business income and extra expense coverage endorsements include an option to cover loss due to damage from a covered cause of loss to secondary contributing and recipient dependent properties.

building ordinance insurance

Building ordinance coverage is insurance that covers the increased costs associated with repairing a damaged building. Such costs are due to changes in building codes since the building’s construction date.

catastrophe coverage

As storms increase in intensity and wildfire season stretches out longer, catastrophe insurance is not just for those in a floodplain or other obviously vulnerable areas. Business losses from natural disasters and other catastrophes are usually exempted from a standard coverage policy. Take the time to review your coverage and evaluate your environment and circumstances to determine whether catastrophe coverage can bridge gaps in your insurance protection.

catastrophe coverage policies overview

wind and hail

Recent storms have caused such damage that carriers in nineteen states now require separate wind and hail damage deductibles. They are:

Connecticut, Massachusetts, Rhode Island, Pennsylvania, Delaware, Hawaii, New York, New Jersey, Virginia, Maryland, Texas, Alabama, Florida, Louisiana, Georgia, North Carolina, South Carolina, Mississippi, Maine.

earthquake coverage

Many building owners overlook earthquake insurance believing it is too cost prohibitive. However would it be more cost prohibitive to lose the rental income and have to pay for demolition and the cost to rebuild your building? How about bringing the building up to code due to earthquake damage?

The key factors in determining your earthquake insurance premiums are:

  • Type of soil building was built on.
  • Age of building.
  • Retrofitting — building bolted to the foundation.
  • Tuck under or first-floor parking.

flood (surface water)

The Standard Flood Insurance Policy (SFIP) Forms contain complete definitions of the coverage they provide. Direct physical losses caused by “floods” are covered. Also covered are losses resulting from flood-related erosion caused by waves or currents of water activity exceeding anticipated cyclical levels, or caused by a severe storm, flash flood, abnormal tidal surge, or the like, which result in flooding, as defined. Damage caused by mudslides (i.e., mudflows), as specifically defined in the policy forms, is covered.

wind and hail

Recent storms have caused such damage that carriers in nineteen states now require separate wind and hail damage deductibles. They are:

Connecticut, Massachusetts, Rhode Island, Pennsylvania, Delaware, Hawaii, New York, New Jersey, Virginia, Maryland, Texas, Alabama, Florida, Louisiana, Georgia, North Carolina, South Carolina, Mississippi, Maine.

earthquake coverage

Many building owners overlook earthquake insurance believing it is too cost prohibitive. However would it be more cost prohibitive to lose the rental income and have to pay for demolition and the cost to rebuild your building? How about bringing the building up to code due to earthquake damage?

The key factors in determining your earthquake insurance premiums are:

  • Type of soil building was built on.
  • Age of building.
  • Retrofitting — building bolted to the foundation.
  • Tuck under or first-floor parking.

flood (surface water)

The Standard Flood Insurance Policy (SFIP) Forms contain complete definitions of the coverage they provide. Direct physical losses caused by “floods” are covered. Also covered are losses resulting from flood-related erosion caused by waves or currents of water activity exceeding anticipated cyclical levels, or caused by a severe storm, flash flood, abnormal tidal surge, or the like, which result in flooding, as defined. Damage caused by mudslides (i.e., mudflows), as specifically defined in the policy forms, is covered.

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Our team of experts is here to help you find the right quote for your specific needs.