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LIABILITY INSURANCE

Professional Liability Insurance

Professional Liability Insurance protects professional practitioners such as architects, lawyers, physicians and accountants against potential negligence claims made by their patients/clients. Professional Liability insurance may take on different names depending on the profession. This coverage focuses on the failure to perform, financial loss and error or omission of the services rendered.

Directors and Officers Liability Insurance

Directors and Officers Liability Insurance is used to insure against claims arising from the negligent acts, errors, or omissions alleged to have been committed by present or former directors or officers of your business entity.

Employment Practices Liability Insurance

Employment Practices Liability Insurance protects the business entity, directors, officers and employees for claims resulting from wrongful termination, discrimination, sexual harassment, discipline and failure to employ or promote.

Products Liability Insurance

Products Liability Insurance covers liability for bodily injury or property damage incurred by a merchant or manufacturer as a consequence of some defect in the product sold or manufactured. It also covers the liability incurred by a contractor after he/she has completed a job as a result of improperly performed work.

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Personal and Advertising Injury Liability

Liability protection from third parties is afforded for injury, including consequential bodily injury, arising out of one or more of the following offenses: False arrest, detention, or imprisonment; malicious prosecution; wrongful eviction; invasion of the right of private occupancy of a room, dwelling, or premise; oral or written publication that slanders or libels a person or organization or disparages a person’s or organization’s goods, products or services; the use of another’s advertising idea in your advertisement; or infringing upon another’s copyright or slogan in your advertisement.

Coverage is afforded to defend the lawsuit and pay damages that may be awarded. Usually, coverage is provided on a first dollar basis with no deductible.

Umbrella Liability Insurance

Umbrella Liability Insurance provides additional liability protection.

Your business needs this coverage for the following three reasons.

  • It provides excess coverage over the insurance you carry.
  • It provides coverage for all other liability exposures, excepting a few specifically excluded exposures. This is subject to a large self insured retention of $10,000 in the event the proper underlying insurance is not in place.
  • It provides automatic replacement coverage for underlying policies that have been reduced or exhausted by loss.