Please note that this review only presents a broad overview of the various lines of insurance available. The coverage lines marked with a green checkmark are included in your present policy. The items marked with a red X are either not in your present plan of insurance or information was not available for review. A more detailed and through review will occur once you engage with our agency.

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An electrical surge damaged the HVAC system of a commercial building that supplied cooling a tenant’s space. The lease required the tenant to insure the equipment.  Equipment Breakdown coverage would have paid for the damage to the electrical equipment caused by artificially generated electrical equipment, including its sudden and accidental breakdown.  This coverage will also pay for loss of or damage to steam operated equipment, including their equipment and piping, caused by explosion or centrifugal force.

The loss to the equipment the tenant was responsible for was in excess of $13,000.

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Equipment used off-site may be covered on an Equipment Floater coverage form.  An Equipment Floater takes many forms, from Unscheduled Tools and Equipment, to Scheduled Equipment for higher values items, to Rented or Borrowed Equipment.  It is important that all equipment in excess of the Unscheduled Single Item be specifically shown on the Schedule.

A contractor’s bulldozer caught fire while the equipment was being refueled. Even though the equipment’s fuel tank was being filled by an on-site fueling company, the claim was submitted to the owner’s insurance since that policy included replacement cost.  The insurance company subsequently sought recovery of the money paid from the on-site fueling company.

The total claim payment was in excess of $60,000

A contractors was involved in an accident while transporting their equipment to the jobsite. The equipment was not insured a the time of the accident and the contractor was relying on his Business Auto policy to protect the equipment, but a Contractor’s Equipment Floater is where the coverage should have been secured.

The contractor’s loss was in excess of $12,000 in insured losses.

A contractor completed thousands of dollars at a residential condominium complex, but before the contractor the General Contractor reviewed and accepted the work, a fire damaged the complex. The insured recovered the cost for the materials, plus the labor costs involved in the work, under their Installation Floater. An Installation Floater extends coverage to a businesses materials of an installation project, while in transit to the installation location, while on the jobsite prior to installations, and after installation until the General Contractoror project owner accepts and pays for the work, subject to a 30-day time period after the contractor completes the project. Covered expenses include the cost of materials plus labor charges for installing the material.

The loss to the insured, including materials and labor, was in excess of $60,000

Umbrella Liability policies provide limits in excess of your General Liability and Business Auto coverages.  Limits are generally available up to $5,000,000, but higher limits may be available. Don’t get caught with insufficient insurance limits. Protect your business with the added protection of a Commercial Umbrella.

A business, and its employee, was sued for an auto claim after striking a pedestrian who was standing on the sidewalk. The verdict in the lawsuit was for $4,280,000. Without the help of an Umbrella Liability Policy the total out of pocket expense to the business would have been $3,280,000.

Even though a business may have Ohio Worker’s Compensation coverage, if they work out of state they are required to secure for their employees the benefits of the state in which they are working. If an employee is injured in a state other than their home state, that employee will have the right to choose benefits of the state where the injury ocurred.

An Ohio employer, who carried Ohio Workers Compensation Insurance, was sued by an employee for the beenfits of the state in which they were injured. The insured recovered the benefits of Workers Compensation for their home state, but had to pay the employee the beenfits of the state where the injury occurred.

The claim settlement paid by the insured for the mismatch of benefits was in excess of $40,000

An insured fired a machine technician who was hired to set up a new production line. The firing occurred after the insured estimated progress to be way behind schedule in relation to the progress payments made to the technician. The allegations were for breach of contract and unjust enrichment.

The insurer paid the defense costs = $75,000

An insured was sued by a competitor for crossing a competitive line established after a salesman bought out part of his former employers operations and started his own competing business. The allegations contained Breach of Non-Compete Agreement charges, among other charges.

The insurer paid defense and damages = $169,000

An insured was sued by a competitor, and several of that competitor’s former employees, alleging misappropriation of trade secrets. Specifically, the competitor alleged that several of its former employees, upon termination, took sales lists which they used when they were hired by our insured.

The insurer paid defense of = $153,1300
The parties came to a non-monetary resolution

An insured was brought up on charges by the EEOC for allegations of termination of an employee on the basis of discrimination against an employee based on his national origin.

The insurance carrier set aside reserves to pay the claim = $75,000

A former employee alleged that the insured discriminated against him on the basis of his age and disability. He further alleged that he was terminated in retaliation for filing a workers compensation claim and for complaining about discrimination. The defendant contended that the plaintiff was not able to perform the essential functions of the job and that he was discharged for legitimate, nondiscriminatory and non-retaliatory reasons.

The insurer paid defense fees of $175,000 and $142,500 to settlement costs

Two employees approaching retirement age discovered they had never enrolled in the company’s 401(k) plan. The employees sued the company and plan trustees alleging the plan administrators failed to properly advise them how to enroll and the enrollment was not automatic.

The insurance carrier paid defense and damages = $350,000

The office manager of a local construction company was terminated from her position for allegations of theft. Shortly after the termination it was discovered the she not only stole company funds, but also lapsed the business’ health insurance. The discovery was made when an employee went into the hospital for open heart surgery.

The Insurer paid the Defense and Payment = $42,169

An office employee wrote fraudulent checks to a fictitious company she owned. The theft of company funds occurred over a period of four years until it was discovered.

The Insurer paid the limits of Investigative Expense and Payment = $255,000
Total Loss to the Insured = In excess of $750,000

An office manager continuously over paid herself and a few overstated her overtime. The fraudulent payroll transactions occurred over a period of several years.

The Insurer paid the Defense and Payment = $238,000

Every day the faithful employee showed up to work with his lunch pale in hand. Every day the employee left work with a lunch pale weighing more than when he arrived. Of course this is what we can piece together after the irregularities in the books were discovered in the books. The employee walked out with cooper and brass hose end fittings over the course of nearly four years.

The insurer paid their limit = $5,000The Loss to the insured = $300,000

An insured received a request from one of its well know vendors with instructions that they changed bank accounts and to make payments into their new account. The insured required a written request on company stationery, which the vendor transmitted to them electronically. An investigation ensued after the vendor starting calling the insured asking them to please make good on their receivables balance. Only then was it discovered that the former request was fraudulent, resulting in loss of tens of thousands of dollars to the insured. Protect yourself with Computer Fraud Insurance.

The total loss was in the neighbor of $142,000

A banker lost a good client because the client shifted the blame to the bank for allowing a wire transfer to go through without the bank catching the fraudulent transaction. Banks do not take responsibility for security issued in the client’s end. Protect yourself with Funds Transfer Fraud Insurance.

A contractor was hired to perform analytical testing for a manufacturing facility that worked with the manufacture of products that involved potential environmental concerns. The insured’s work was a part of a larger study that involved many other participants. As a result of the improper calibration of the contractor’s equipment the entire study results were compromised.

The manufacturer’s demand for damages were in excess of $300,000

An HVAC contractor was hired to replace the individual units in a Holiday Inn. After the install was completed and summer came it was determined that every one of the 68 rooms has air conditioning units did not have enough cooling capacity.

Total damages for replacement of the units were in excess of $200,000

Hackers accessed a businesses computer system and installed a Ransomware program. THe program locked all their files and demanded immediate payment of $80,000. Instead of paying the hackers, the business hired a computer firm to wiped clean their entire hard drive and rebuilt the computer with clean software and data.

The resulting loss to the client was in excess of $20,000 

An employee of a rehabilitation center improperly disposed of 4,000 client records in violation of the center’s privacy policy. The records contained social security numbers, credit and debit card account numbers, names, addresses, telephone numbers, as well as sensitive medical information.

A settlement was reached that was in excess of $890,000 

A regional retailer contracted with a third party service provider. A burglar stole two laptops from the service provider containing the data of over 800,000 clients of the retailer. Under applicable notification laws, the retailer – not the service provider – was required to notify affected individuals.

Total expenses for notification and crisis management totaled nearly $5,000,000

A masonry contractor showed up at a jobsite to find the footer dig filled with fluid. The contractor promptly threw a hose into the dig and pumped the solution over the bank, which then migrated into a stream. Unbeknownst to the mason contractor, the previous day an excavator uncovered an underground storage tank that flooded the hole with the suspicious liquid.

EPA and Hazmat crews were called to the jobsite resulting in expensive clean-up costs

A large scale fish kill was reported at a nearby pond. The EPA was called out to determine the cause, as well as a plan of action for the cleanup. An asphalt contractor and a fertilization company were reportedly working in the area about that time. The cause of loss was determined to be excessive fertilizer application.

Extensive clean-up costs and restocking of the pond were involved

A pickup truck mounted with off-road diesel fuel overturned on the highway causing it to spill its fuel.

EPA and Hazmat crews were called to the jobsite resulting in expensive clean-up costs

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An improper weld caused an automotive part to fracture during use, resulting in notification, recall, and loss of income to the supplier of the parts.

The total recall expenses and lost income were in excess of $180,000

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A large automotive supplier file bankruptcy leaving several of their suppliers with uncollectible debt.

The insured’s uncollectible receivables losses exceeded $750,000

A contracting company hired an experienced salesperson to help the company grow sales. Their strategy involved additional equipment purchases in excess of $600,000 to enable the anticipated growth. Shortly after securing the new equipment the salesperson dies of a heart attack.

Without Key Person Life insurance the contractor has no means of generating the needed profits