Going into business is filled with risk, without it there would be no reward. In today’s market one of the most important coverage options a company should consider is liability insurance. In some cases it is even required for your business to operate.
Understanding that no two businesses are the same, our markets offer a wide array of liability coverage options to consider. Our professionals at CityScape Insurance are here to identify your unique exposures and offer the options that are most important to your business.
An umbrella policy, also known as excess liability, acts as a secondary line of defense when your underlying liability policies including but not limited to; general liability, employment practices liability, and hired and non-owned auto liability policies have been exhausted.
In today’s technology driven society it’s important that any company with an online presence consider Cyber Liability coverage. Adding this valuable coverage will protect the company against; sensitive data breach, destruction of critical data, defamation, libel, copyright or trademark infringement, computer hacking, lost laptops, employee error or sabotage, pilferage of information, and identity theft. . In addition the policy may provide both First Party & Third Party protection. It is important to remember that not all policies are the same and certain carriers will offer a variation of the coverage listed above.
Directors & Officers
This optional policy is put in place to extend liability coverage payable to the directors and officers of a company for losses or cost of legal defense arising from an alleged wrongful act(s) as directors and officers. This coverage can also extend to defense costs arising from civil and criminal investigations & trials.
Employment Practices Liability
EPLI covers employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. This coverage is in most cases packaged with professional liability.
Errors & Omissions
Also referred to as Professional Liability insurance covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies.
Garage Keepers Liability
This optional policy is designed for auto shops and towing companies. It covers a customer’s vehicle while being stored, parked, or performing service in case of fire, theft, vandalism, or collision while in the care of the business.
As one of the most common policies available it has become an industry standard for businesses of all sizes. This policy protects business organizations against liability claims for bodily injury and property damage arising on premises from operations, personal injury, and other potential losses that can arise from business operations.
Liquor liability is put in place to cover businesses in the event damages are claimed as a result of a customer becoming intoxicated and causing injury or damages to themselves or others. For example if a patron leaves the bar intoxicated and wrecks there car or worse yet kills someone this liability can fall back onto the establishment. Several factors to account for when looking into this coverage would include percentage of revenue from bar sales, length of experience in the industry, does the establishment serve food, and what policies do you have put in place to prevent such claims arising.
From manufacturers to retailers and everyone in between who make products available to the public, product liability is a very important coverage to carry. This policy covers the seller’s or manufacturer’s liability for losses or injuries to a consumer or by-standard resulting from the defect or malfunction, defect design, or failure to adequately warn. This policy in some cases is included with a general liability policy and is referred to as products-completed operations coverage.
Special Event Liability
Special event liability coverage is very similar to general liability in the sense that it will cover bodily injury and property damage. This policy can be purchased by an individual or business and offers different coverage limits for a one-time event such as weddings, festivals, or club events.
For additional product information and/or questions please contact us.