Aging infrastructures also pose constant transportation challenges. Public entities face unique challenges including increased litigation, aging infrastructure, and elevated scrutiny of police actions, and offer the coverages and services to help protect your people, property, and reputation. This business can be different from other commercial entities. Public entities may be subject to statutory competitive bidding requirements, they may be approached by so-called public insurance pools, and they enjoy some immunity from lawsuits.
Some insurers have dedicated underwriters focused exclusively on the public sector, including counties, municipalities, and educational institutions. They tailor insurance programs to address specific coverage needs. They often offer experienced risk control professionals to help protect from workplace hazards and natural disasters. Customized insurance programs that meet the unique risk management needs of public entities is normally a major benefit provided by these insurers. The precise definition of hazardous materials varies depending on the regulatory agency.
Truckers, contractors, and other entities must adhere to specific regulations regarding their use, transportation, and disposal of hazardous materials. Hazardous materials insurance is a necessary provision for trucks that haul dangerous cargo and is usually required by law in various amounts depending on the cargo. When selecting the ideal commercial trucking insurance, it is important to understand the regulations and legislation regarding particular cargo.
Hospice liability Insurance — Medical malpractice liability coverage is available to your contracted, volunteer or employed physicians. Home Healthcare Coverages Medical malpractice liability coverage is available to your contracted, volunteer or employed physicians. Coverage may not be available in all states. Healthcare and medical professionals face unique risks for many reasons including the limited mobility of some of their patients and the sensitive patient information, medical business office or loss of business records and patient files.
General Liability — helps protect medical and healthcare business from certain lawsuits alleging injuries or property damage that occurred as the result of business operations. Commercial Property — helps protect the place where business is practiced and the tools uses to conduct y medical and healthcare practice, such as computers, therapy tools, and medical equipment. The standard markets usually insure hotels. Some hotels located in coastal areas are subject to heavy windstorms and hurricanes. Casino operations at some hotels introduce unique and unusual crime and liability exposures, while restaurants and bars present liquor liability exposures.
Swimming pools, lakes, skating rinks, skiing, and other leisure activities for guests are examples of difficult liability exposures. Some hotels arrange trips for guests and programs for conventioneers. Property coverage is the foundational of the hotel insurance package. This protection extends well beyond the building and its contents. General liability: This will protect your business from injuries or property damage sustained by guests while on your hotel's property.
Workers compensation: If an employee is injured on the job, your business is required to cover any ensuing medical expenses. The three major considerations that should always be considered are pollution exclusions, lender requirements and statements of value. Every year, thousands of people are kidnapped for ransom all over the world.
This insurance offers protection — and peace of mind. These threats are very real and can happen to any business or individual. Liquor liability insurance is meant for liquor stores, establishments serving alcohol on a regular basis such as bars, clubs, taverns or restaurants, and manufacturers of alcohol. Liquor liability insurance can help pay for alcohol-related lawsuits against business owners.
Liquor liability insurance can be purchased as a standalone policy or bundled with a general liability insurance policy. If a business is sued over the actions of a customer who over-consumed, liquor liability insurance can pay for the business's legal expenses, such as attorney bills for defending against the lawsuit, damages if the business is found liable in court, and settlements if the business owner decides to settle the lawsuit out of court. Some policies may also include coverage for bartenders who drink on the job, assault and battery if a fight breaks out between customers, or a customer and a bouncer and specific incidents such as sexual assault, stabbings, shootings, etc.
Commercial property insurance for small businesses is designed to protect both the building you operate your business out of and the contents inside, including your equipment. This type of insurance coverage can protect items in your building, including inventory, furniture, and tools.
The level of cover you need will depend on your business, and what kind of tools you're insuring. In a nutshell, tools insurance can cover your hand-tools, power-tools and equipment against loss, damage or theft. It is a broad-ranging policy designed to cover damaged or missing contracting equipment. In the event of a covered loss, contractors equipment coverage can even help pay for the removal of debris and cleanup after an accident.
Contractors insurance also helps cover losses due to theft and can help pay the costs to expedite a project that is off schedule as the result of a covered loss. Scheduled equipment that is less than five years old at the time of loss is covered on a replacement cost basis with the option to purchase additional replacement cost valuation options. This way the newly purchased equipment is covered while the commercial contractor has time to update their policy. Employee tools and clothing are also covered under contractors equipment insurance policy. Instead, you need to look into separate mobile home insurance.
Both mobile also called manufactured and modular homes are built in a factory rather than on a construction site. Mobile homes rest on a movable chassis and never include more than a single level. Modular homes can have multiple stories and sit on a foundation similar to traditional houses.
Errors & Omissions insurance.
A standard mobile home insurance policy typically includes the following coverage types: physical damage, personal property, and liability. Manufacturers insurance protects your business against a wide variety of mishaps. It can protect against things like damage to your property or equipment, injuries or illnesses suffered by customers and employees, and many more situations resulting from your business operations or products. For example, if a customer is injured by one of your machines in the manufacturing process at your workplace or an employee causes damage to a customer's property, this insurance will help cover the legal fees.
Watercraft insurance is an insurance policy that provides coverage for boats and personal watercraft.
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Watercraft insurance, also known as boat and personal watercraft insurance, often includes towing and wreckage removal, as well as fuel spill indemnification. This type of insurance may be purchased for sailboats, house boats, and pontoon boats, as well as other watercraft up to a certain size and value. Available insurance products include personal Mexican insurance products for automobiles, boats, homes and family protection for American and other foreign residents who need Mexico insurance coverage; as well as comprehensive business and commercial Mexican insurance solutions for the property, liability and automobile risks of American entities operating in Mexico and other foreign countries.
Commercial and personal lines automobile policies do not cover any Mexican exposures. Therefore, tourists and workers who drive, fly, or cruise into Mexico must purchase automobile insurance from Mexican insurers if they plan on driving an owned or non-owned vehicle in Mexico. In addition to independent agencies in the U. Policies are written for the length of time to be spent in Mexico and provide liability, physical damage, and medical expense coverages.
This coverage is being written to an increasing extent on commercial businesses operated by American corporations and on trucking risks that carry cargo between the United States and Mexican cities. When you add replacement cost coverage when the bike is new — or even up to two model years old — you can keep that level of protection for as long as you own the bike.
That eliminates depreciation in the event of a claim. Other options include travel loss reimbursement, rental reimbursement, and transport trailer. Multiple discounts for home ownership, safety course completion, insuring multiple units, transferring your policy to us, and claim-free renewal.
Mining risks have always been considered a specialty class of business because of the liability and workers compensation exposures and hazards as well as physical damage to elaborate and expensive equipment used to mine coal or metal ores. Workers compensation for any mining operation is extremely hazardous because the workers are exposed to occupational diseases such as black lung in addition to the potential for cave-ins and underground explosions. Large and high-valued special-purpose mining equipment requires special named perils or ""all risk"" inland marine coverage forms to insure against both above ground and below ground physical damage losses.
Typical kinds of businesses covered are logging contractors, sawmill operators, foresters, timberland owners and hunt club participants. Coverages are available on forestry equipment insurance as well as timber bonds, general liability, property, business automobile, and worker's compensation insurance. Fishing contests, tournaments, and tagged fish derbies are as popular with fishing enthusiasts as hole-in-one tournaments are with golfers. Both are offered as prize indemnification programs for the event's sponsors or for the parties that provide the prizes.
Coverage can be customized in an event format based on each individual tournament's needs and requirements. Prize promotions can fit all categories of tournaments, from children's fishing rodeos to bass or walleye tournaments to offshore sports fishing events. Owning and running a nightclub can be an exciting and extremely lucrative endeavor. These businesses require a large initial investment, so it's a good idea to protect yours with an appropriate nightclub insurance policy. Oil and gas drilling contractors face unique and dangerous risks every day.
The most common insurance coverages include Property. Inland marine, Excess liability, General liability, Pollution, Down-hole tools, Underground resources and equipment, Workers Compensation and Broad-form property damage with care, custody and control. National and state parks provide individuals and families a variety of opportunities for outdoor camping and recreation.
Outdoors enthusiasts fill privately owned camping grounds and hunting and fishing preserves each weekend as well as during the week. Insurance packages are available that cover liability exposures such as saddle animals, horseback trail rides, archery club shooting ranges, hunting and fishing clubs, recreational trails, resort hotels and motels, dude ranches, winter recreational activities and canoe, kayak, river rafting, and whitewater rafting.
Private Companies: Risks, Exposures and Insurance
Auto liability coverage is available for buses and vans that transport guests to canoe and river rafting sites and for cross-country trips. Some programs also cover buildings and equipment owned by hunting and fishing lodges, hotels, and motels. General liability insurance is available for clubs and members that lease land from others for hunting and fishing. Liability coverages on independent parking garages and lots can be difficult to place, especially those located in the downtown areas of larger cities.
Commercial general liability and garagekeepers legal liability coverages are available for parking facilities. Rates are based on the number of parking spaces. Coverage may be available for valet parking offered by nightclubs, restaurants, and hotels. General Liability protects your parking lot and garage from common claims that involve property damage, third-party physical injury and advertising mistakes. It will also cover out-of-court settlements, litigation, court fees and other fees that are within the coverage of the insurance policy.
When you hand your keys over to a valet attendant, you trust that your car will be returned to you undamaged. However, accidents can happen especially when multiple drivers are operating unfamiliar vehicles and trying to do their job in a timely manner. Scrapes, dings or greater damage to vehicles and injuries to drivers threaten the success of any valet service company Most valet companies carry insurance that will cover damage to a vehicle in their custody.
Liability coverage will cover injury to people or damage to property the valet doesn't own. Product liability insurance protects against claims of personal injury or property damage caused by products sold or supplied through your business. It is designed to help protect your business by ensuring that if this happens, you don't have to pay any legal or court costs.
Product liability insurance isn't merely a product guarantee or warranty. It protects businesses from the fallout that occurs in the event that a product causes injury or other damage to third parties. Product liability insurance can help protect you in the event that your business faces a lawsuit.
Certain types of manufactured products have particularly hazardous products liability exposures. Drugs, cosmetics, chemicals, and ladders are some examples. Many domestic insurance companies write insurance on these classes of business on only a very limited basis. In addition, very few standard markets are interested in insuring certain types of new products, particularly drugs.
Businesses engaged in manufacturing and installing solar-heating equipment and burglar and fire alarm equipment have a very real need for this coverage. Religious organizations are centers for community gathering, celebration, and solace. They may offer counseling, run outreach programs, provide education, and help their worshippers in countless other ways. Hot surfaces. Sharp knives. Food borne illnesses. Patrons coming and going on a daily basis.
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Restaurant owners face a multitude of risks that are specific to your industry. Property and liability insurance coverage on bars or taverns is difficult to place because of hazards, loss history, and clientele.
Bars may be located in urban high crime areas or in isolated rural areas both of which makes them theft targets because of the appeal of their liquor inventory and the day's receipts. Liability hazards are the traditional premises slips and falls on premises and in parking lots that are aggravated by liquor-impaired judgment. Many bars offer activities such as dancing, live entertainment, games, and contests that can significantly increase their exposure to loss. All bars have vicarious liquor liability exposures but the degree of the exposure depends on laws in the particular state. Other frequent causes of fires are defective electrical wiring, electrical appliances, and poor housekeeping.
Installing automatic fire extinguishing systems reduces fire loss potential from ignition of grease during cooking operations. Liability exposures are considered less significant than the property exposures unless the restaurant serves alcohol. The retail industry faces many challenges. From theft of receipts, to robberies of stores, to fraudulent business processing, your business needs specialized protection. In addition to this coverage, you also need to protect your physical plants and your employees. Retail insurance refers to the various types of insurance retail businesses need to purchase in order to be protected from liability in their day-to-day operations.
Common coverages for retail operations include Commercial General Liability. Commercial Property Insurance, Workers Compensation;. That sounds easy enough, but in practice, it requires a complexity of operations few organizations can match. Schools prepare and serve food, maintain play equipment and athletic facilities, welcome the public to sporting events and shows, provide basic mental and physical health care. And they do all this while caring for children and teenagers. Educational institutions have very specific needs that only customized coverage forms and programs can meet.
Liability coverage for security patrol and detective agencies is available from primarily excess and surplus lines markets and specialty coverage programs. Underwriters pay close attention to employee training, use of firearms, the exact type or nature of patrol work performed, use of guard dogs, and previous losses. Premium is based on payroll and coverage is subject to a deductible. Some underwriters and programs include professional liability coverage and personal injury liability coverage.
Shopping centers may qualify as a specialty insurance risk if the property limits are extremely high. High concentrations of building and contents values, extremely large undivided floor areas, windowless buildings, exposures from hazardous occupancies, and exterior exposures are some property-related considerations that must be weighed and evaluated. Shopping malls may include supermarkets, restaurants, bowling centers, and motion picture theaters that must be underwritten carefully. Public liability exposures related to crowd control inside the building and parking lot incidents outside the building are significant.
A strip shopping center may have only one tenant or may have multiple tenants, but all tenants areas are entered from the parking lot or sidewalk. Some strip shopping center owners own multiple centers, which usually makes the overall property schedule more attractive due to the spread of risk. Parking lot exposures and vacancy are the two most difficult issues to address. Events, both small and large, can take many unexpected turns. Risk exposure for clients include interruptions, problematic weather, and liability. Whether you're planning a wedding, a hole-in-one grand prize at a tournament, or a music festival for thousands, this is coverage you'll want to understand.
Sports and recreation activities, including athletic events, athletes themselves and sports organizers all face unique exposures and risks. Sadler Sports and Recreation Company, a well-known provider and trusted resource in the sports and recreation insurance market, shares helpful information that can make a difference to those involved with sports and recreation programs, personnel and facilities. Bonds provide a guarantee to people that the person or businesses that is bonded is trustworthy and will do what has been promised.
There are two main groups of bonds: fidelity bonds, and surety bonds. They know how costly these kinds of claims are to defend. Frequently, the claims involve disputes they never anticipated and that they had never previously experienced. The survey report shows other areas where private companies are vulnerable and perhaps not appropriately insured. The report also shows that private companies have significant employment-related risks.
Citing outside sources, the report notes the significant costs for companies experiencing cyber risks. It may be a rational business decisions to do without insurance, at least for some companies. However, the decision is less likely to be made correctly if it is based on an under-appreciation of the risks and exposures that the company faces or if it is based on a mistaken belief that other types of insurance will protect the company from the exposures that the management liability insurance policies are designed to protect against.
These issues include such considerations as whether or not to buy separate or combined limits for the various management liability coverage lines, or whether to have the insurance structured on a duty to defend basis or a reimbursement basis.
The policy provides protection in the event of any actual or alleged error, misstatement, omission, misleading statement or breach of duty. In addition, some policies extend the same coverage to employees. Liquor liability insurance is business coverage that protects your business against loss or damages claimed as a result of a patron of your business becoming intoxicated and injuring himself or others. If your business manufactures, sells, serves or facilitates the use or purchase of alcohol, then your business will likely need this coverage.
Liquor liability coverage may be sold as an add-on to a commercial liability policy or as a stand-alone policy. But, if you do not purchase this extra coverage, your standard commercial general liability policy does not protect your business against liquor-related claims. This type of coverage provides industrial, commercial and agricultural property owners, managers and developers with a broad range of pollution liability protection for gradual, as well as sudden and accidental, first-party and third-party environmental liabilities.
It also protects assets from unforeseen environmental exposures that could have substantial impact on earnings. In addition, it protects against unforeseen pollution hazards that may lead to bodily injury, property damage or pollution clean-up costs. Here are just a few examples of situations in which your business could be responsible for paying various costs, such as medical and legal expenses, as well as compensatory and punitive damages: While visiting your business, a customer trips on loose flooring and is injured.
A class action lawsuit is filed against your business, alleging advertisements constituted misleading information. What commercial general liability insurance covers A CGL insurance policy will usually cover the costs of your legal defense and will pay on your behalf all damages if you are found liable—up to the limits of your policy. Standard CGL includes: Coverage A: Bodily Injury and Property Damage Liability Bodily injury and property damage coverage provides protection against losses from the legal liability of insureds for bodily injury or property damage to others arising out of non-professional negligent acts or for liability arising out of their premises or business operations.