The Burns Agency
Insurance, Property, Disability
Here is a summary of Business / Commercial / Non-profit insurance coverage parts:
Property & Liability Insurance Options Include:
•Business Owners—a broad grouping of coverages, pre-packaged to fit many Business Owner's needs.
•Commercial Package—may not automatically include as many coverages as Business Owners but is more customizable.
•Special Multi-Peril—more limited in scope of coverage than above options
•Commercial Fire & Liability—most limited form of property/liability coverage
The main components of these Property & Liability Insurance packages are typically:
•Building & Business Personal Property—covers your building and contents
•Business Income Coverage—reimburses you for loss of income due to a covered loss
•General Liability Coverage—covers you against claims resulting from your business operations, including associated defense costs
Other lines of insurance coverage include:
•Workers' Compensation (on the job)—medical expenses and % of lost wages
•Disability (off the job)—% of lost wages only
•Commercial Automobile—business use automobiles
•Professional Liability—errors & omissions coverage for your line of work
•Directors & Officers Liability—for non-profit and for-profit operations
•Employment Practices Liability—discrimination and harassment coverages
•Umbrella Liability—additional layer of liability above and beyond the general liability and automobile, possibly others.
•Cyber Liability—this is a relatively new risk that most businesses face. It does more than the name suggests. See this video for more information
•Fidelity & Crime—losses due to employee dishonesty, credit card forgery, computer fraud and theft, and disappearance and destruction of property
•Fiduciary Liability—for people who manage employee benefit plans.
•ID Fraud Expense Reimbursement—for employees or customer/member groups, covers the expenses incurred while clearing their name and re-establishing their credit
•Kidnap & Ransom—ransom and other expenses involved in a kidnapping or extortion
, Cyber Liability
, Directors & Officers
, Employment Practices
, Professional Liability
, Workers Comp