LIABILITY PROTECTION

In business, there are many different risks that expose you to the possibility of being sued. The more successful your business is, the greater the risk of being sued; however, even small businesses should not underestimate the possibility and financial impacts of a lawsuit. One lawsuit could end years of effort spent building your business.

General liability

Liability insurance protects you from claims of injury or damage to third parties. A general business liability policy provides coverage for more common risks of bodily injury to customers or visitors to your premise or property damage. It is extremely important to have proper liability insurance protection for your company, your employees and you in the event that you are sued.

Specialized liability insurance options

Bodily injury or physical damage is what most people think of when it comes to liability; however, there are a variety of other liability exposures that can put your company at financial risk. General liability insurance does not protect against professional negligence that can lead to an expensive legal defense.

Depending on your type of business there are a variety of specialized protection options to consider. To learn more, you can select from the partial list below. Or, if you want to discuss specific liability insurance needs for your business, e mail , call or visit us . Our trusted associates will help you develop a custom protection plan that fits your business.

• Employment practices
• Errors & omissions
• Directors & Officers liability

Employment practices liability

Challenging economic times often bring an increase in lawsuits for a variety of employment related claims and can involve current, former or potential employees. Employment practices insurance provides your company, directors, officers and employees protection in the event of claims related to sexual harassment, discrimination, unfair hiring practices, wrongful termination, breach of contract and a variety of others. It can happen at any company. It’s estimated that 3 out of 5 businesses will be sued at some point.

Errors & omissions and professional liability

Errors and omissions insurance (E & O, professional liability or malpractice) protects you against an error that causes injury or damage to a third party. It provides you with financial protection if you are sued because someone accuses you of failing to take appropriate action or negligence causing them financial damage. It’s important to note that it must be negligence not an intentional act. E&O protection is important for a wide variety of professionals including but not limited to doctors, accountants, attorneys, architects, consultants, engineers .

Directors & officers liability

If you are a director, officer or manager of a business or a non-profit organization, your participation in planning, directing and reviewing organizational activities puts you at risk for being named in lawsuits related to alleged breaches of duty, errors in judgment and other situations that caused a third party to suffer a financial loss. Unless a business or organization has Directors & Officers coverage, individuals performing these roles have liability exposures that are unprotected and have serious financial risks. Be sure that all organizations in which you play a leadership role have proper insurance coverage in place to protect you.