Commercial Insurance
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- Business Owners or Package Policy
A wide variety of businesses now qualify for these package policies. They combine property and liability insurance with a long list of additional coverages that would be very expensive to buy separately, such as Business Interruption, Valuable Papers, Building Glass, Employee Dishonesty, Loss of Money and Securities, and Host Liquor Liability.
- Commercial Auto
If you drive a car owned by a business and you do not own a personal car, there is an endorsement that needs to be added to your Commercial Auto policy. It’s not expensive and could be critical at claim time. Also, there is a special coverage that can be added if you rent cars while on business. Please call us for the details.
- Inland Marine
Marine coverages are for things that move. If you own an appliance store and sell a refrigerator, it has to be moved from the showroom to a truck and from the truck to the buyer’s home.
A Transportation Floater and an Installation Floater would be needed to provide the coverage when it’s outside the showroom. You also see Marine policies used for jewelers, furriers, salesmen's samples and for cargo you ship overseas.
- Workers' Compensation
The purpose of Workers' Compensation is to provide medical treatment and lost wages for employees injured while performing their jobs. Employees are prohibited from suing their employer unless they can prove that their employer intended to cause their injury.
In Illinois, you are required to carry Workers' Compensation if you have anyone working for you, even part time or on a temporary basis.
- Commercial Umbrella
This provides $1,000,000 or more in protection above the liability limits of your Business Package policy, Commercial Auto, and Workers' Compensation. After those liability limits are exhausted, the umbrella coverage begins.
- Professional Liability
This provides coverage for claims involving the rendering or failure to render professional services or advice. Doctors, lawyers, engineers and accountants have carried this for years. Now, we see consultants, auctioneers, caterers, funeral directors and real estate agents protecting themselves with this coverage.
- Employment Practices Liability
Protects against lawsuits by employees or job applicants alleging discrimination, harassment, wrongful termination or other employment related exposures. This is probably the fastest growing area of new lawsuits against employers.
- Directors and Officers Liability
Insures against claims arising from the negligent acts, errors or omissions alleged to have been committed by present or former directors or officers of your corporation.
If you are asked to serve as a director or officer of any board, please make sure they have D & O insurance that will protect you, if you are brought into a lawsuit.
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