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Commercial Package Policies
Package policies are an essential part to protect any business. A Commercial Package Policy provides your business with a wide array of essential Property and General Liability insurance coverage. By combining several commercial insurance policies into one package, the total premium can potentially be less then the combined premium of the individual policies. They are an ideal solution for businesses that desire a comprehensive mixture of insurance protection – all in one flexible plan.
Workers’ Compensation
A company’s success depends on the wellness of its employees. Nothing is more important than getting your employees well and back on the job. Workers’ Compensation insurance covers the medical expenses and lost income of your employees should they get hurt in the course of conducting work-related activities.
Why should Workers’ Compensation be at the top of your insurance needs?
- It is required by law in all 50 states.
- It can protect your business from future lawsuits – if you don’t have the right coverage, an injured employee may sue your business to recover medical costs, disability costs and damages.
Commercial Auto Insurance
Your business is dynamic – twisting and turning on the road of success as you continue to move in new directions. Don’t allow a rut in the road to derail you – make sure you are covered every mile of the way. Commercial Auto Insurance policies protect the business use of cars, vans, trucks, and trailers. Specifically, this type of policy covers personal injury, damage to vehicles and property, as well as protection from liability. This is a must have coverage option for any business that owns or leases vehicles or that has employees who use their personal vehicles for business use, in addition to employed or self-employed individuals who use their own vehicles predominantly for business.
Employment Practices Liability
Employment-related lawsuits are a growing concern for employers of all sizes. As costs for litigation and damage awards climb, experts predict that employment liability will only become more complex. As a result, it is crucial for employers to protect themselves. One effective risk management strategy is to purchase Employment Practices Liability (EPL) insurance coverage. EPL is a policy used to cover your risk due to the ever-changing legal and employment environment. Employment Practices Liability insurance works hand-in-hand with your internal employment practices to provide the necessary resources to defend your company against a suit or to pay a claim.
Directors & Officers Liability
High profile corporate corruption cases have brought the issue of corporate culpability to the forefront. As a result, questions continue to rise regarding what constitutes as responsible management and accounting practices. For privately held companies, implications for Directors & Officers' (D&O) policies include:
- Higher deductibles caused by concern regarding Employment Practices Liability,
- Increased cost for Discovery Periods,
- The return of the Failure to Maintain Insurance clause,
- The elimination of punitive damage coverage,
- And the paring back on insured vs. insured coverage.
In addition, insurers are more diligently reviewing applications and asking for more information. A good agent is invaluable when buying D&O insurance because there is no such thing as a "standard" D&O policy. An agent who understands your company can knowledgeably design policy language to meet your individual needs.
Errors or Omissions
Lawsuits, once a measure of last resort, are now commonplace in settling disputes. Protect yourself and your business by investing in professional liability insurance, also known as Errors or Omissions (E&O) insurance.
E&O insurance is supplementary liability insurance that enhances any business owner's policy by safeguarding against catastrophic financial loss in the event of a lawsuit due to a negligent act, error or omission by the professional. In addition to claims of error, omission, or negligence, it can also protect against slander, libel, and breach of contract.
Commercial Umbrella
You have worked hard to build your business and reputation - don't allow
Catastrophic liability losses to wipe that away. Commercial Umbrella insurance helps you to protect the assets you have worked to hard to gain
by providing liability limits above and beyond your other policies.
While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.
For more information on the many Commercial Insurance policies available
from ISG, please contact Scott Schleicher at (410) 901-0702 or email Scott at sschleicher@isgintl.com
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