The Foundation of Your Policy
Whether you are a retail operation, distributor, office, manufacturer or a medical office, you have a need for General Liability Insurance.
However, it is important to remember that there is much more to formulating a well rounded program of insurance than a simple General Liability policy. Consider that the insuring agreement of General Liability policy limits the scope of its protection for claims resulting from bodily injury, property damage, Personal and Advertising Injury; and Medical Payments. The protection provided by this form is very narrow when you consider the other activities in which a business engages.
What about wrongful activities that do not result in bodily injury, property damage, or Personal and Advertising Injury? By way of example, consider the accountant that errs in his professional work and causes a client to suffer financial harm. Given the fact that financial harm is outside the scope of the General Liability insuring agreement there will be no coverage provided for this type of loss. However, this financial harm is precisely what a Professional Liability policy is intended to insure. The business insurance professionals at McMichael Insurance are ready to assist you with all your business insurance needs.
How much coverage is enough? If you are not comfortable with the limit of liability provided by your Commercial General Liability Insurance then consider the addition of an Umbrella Liability Policy. The Umbrella Policy provides liability protection in excess of your primary insurance coverage for General Liability, Business Autos and other liability coverage offerings encompassed in the Umbrella policy. Coverage limits of $10 million or more are not uncommon. Catastrophe coverage cannot be bound until approval is granted by the company.
This endorsement redefines the definition of employee in the general liability coverage form to include coverage for leased workers.
Do you rent space to operate your business? If so, then the Fire Damage Limit is the most we will pay for damages because of property damage to premises rented to you arising out of any one fire, explosion or sprinkler leakage for which you become legally liable.
The Each Occurrence Limit is the most the insurance company will pay for all bodily injury, property damage, fire damage or medical expenses from one occurrence, subject to the general aggregate or products-completed operations aggregate limit.
If you provide benefits to your employees then your insurance coverage should provide coverage for the negligent acts, errors or omissions in the administration of the insured’s employee benefit program.
This option provides coverage for an employee’s bodily injury caused by accident or disease, provided these damages are the direct consequences of bodily injury that arise out of and in the course of the injured employees’ employment . The basic form provides payment for loss of consortium and Third-Party over Action suits. The broadened form includes coverage for injuries determined to be “substantially certain to occur”.
Do you have employees? If so, then Employment Practices Liability Insurance is a highly recommended. This coverage will pay for personal injury claims arising out of any:
- Refusal to employ;
- Termination of employment;
- Coercion, demotion, evaluation, reassignment, discipline, defamation, harassment, humiliation, discrimination and other employment related practices as stated in the coverage form.
This provides liability protection for an employee suit brought against a fellow employee out of and in the course of employment.
The General Aggregate Limit establishes a policy year amount of insurance that is the most we will pay during the policy period for the sum of damages for bodily injury and property damage, personal and advertising injury, medical expense and fire damage expenses.
Provides limited third party pollution coverage for incidents beginning and ending within 72 hours. Coverage includes third party bodily injury, property damage and clean-up costs arising out of physical injury to tangible property.
If you are in the business of manufacturing, distributing, selling, serving or furnishing alcohol to others then Liquor Liability is a must for your business. Liquor Liability will provide insurance protection for you in the event you cause or contribute to the intoxication of a person; furnish alcoholic beverages to a person under the legal drinking age or under the influence of alcohol; or violate any statute, ordinance or regulation relating to the sale, gift, distribution or use of any alcoholic beverage.
Pays medical expenses for bodily injury to guests of your business, regardless of fault and caused by an accident:
- On premises you own or rent;
- On ways next to premises you own or rent; or
- Because of your operation
Personal Injury provides coverage for physical injury, other than bodily injury, arising from one or more of the following offenses:
- False arrest, detention or imprisonment;
- Malicious prosecution;
- Wrongful entry into, or eviction of a person from a room, dwelling, or premises that a person occupies;
- Oral or written publication of material that slanders or libels a person or organization or disparages a person or organizations’ goods, products or services; or
- Oral or written publication of material that violates a person’s right to privacy.
Provides coverage for specific product recall expenses which arise out of a recall incident.
Includes all bodily injury and property damage occurring away from premises you own or rent and arising out of your work, except:
- Products that are still in your physical possession; or
- Work that has not yet been completed or abandoned.
The products-completed operations aggregate stated in the declarations is the most we will pay for the sum of all bodily injury and property damage included in the products-completed operations hazard during the policy term.