Q: What is general liability insurance coverage?
A: General liability coverage protects a business and its employees from claims of bodily injury or property damage that occur on the job or on your premises.
Q: Why do I need general liability insurance coverage?
A: General liability coverage is the most basic type of commercial insurance and one of the most important. Most landlords require their tenants to carry it. General Liability coverage protects your company from injury and property damage claims that could seriously impact your business. Every claim can cost you money by paying out the legitimate ones or by defending yourself against the fraudulent ones. Commercial general liability insurance protects you from these lawsuits up to the limits of the policy and provides you the kind of basic peace of mind needed to be an effective business owner.
Q: What is umbrella insurance coverage?
A: Umbrella coverage is an additional amount of liability insurance coverage that is designed to give you, as an insured, an extra level of protection over your general liability, auto liability, and employers’ liability coverage. When the limits of a primary policy are exhausted, the umbrella policy takes over to cover the extra cost up to the limits of the umbrella policy. For example, if your general liability policy provides $1,000,000 in coverage, but your claim settles for $1,500,000, your umbrella insurance would cover the additional $500,000.
Q: Why do I need umbrella insurance coverage?
A: A lawsuit judgment or a claim may exceed your underlying primary policy liability limits. If this were to happen, you may be at risk for losing your personal assets. An umbrella policy will give you additional coverage above the limits of your primary policies. However, it should be noted that umbrella coverage cannot be used to supplement a professional liability policy.
Q: What is professional liability insurance coverage?
A: Professional liability insurance also known as Errors & Omissions coverage is a separate type of insurance that protects your business against loss from a claim of alleged negligent acts, errors or omissions in the performance of your professional services. Just as doctors have medical malpractice insurance to defend themselves against lawsuits, other types of professionals, including but not limited to, architects, engineers, real estate agents, and technology professionals need protection in case they make an error or omission on the job. Professional liability insurance can pay the insured’s defense costs and damages in the case of a claim.
Q: Why do I need professional liability insurance coverage?
A: Even though professionals always try to do their best for their clients, mistakes do happen; and in a litigious society, lawsuits have become inevitable. Professional liability insurance can cover judgment costs and defense costs. Even the fraudulent claims can cost your business money.
Q: What is inland marine insurance coverage?
A: Inland marine insurance protects against damage to property such as valuable papers, accounts receivable, laptops, fine arts, tools, contractors equipment or any other specialized equipment.
Q: Why do I need inland marine insurance coverage?
A: Almost every business depends on some kind of specialized property to do business, and Phoenix inland marine insurance protects you against loss of or damage to these essential pieces of your business.
Q: What is pollution incident insurance coverage?
A: Pollution incident coverage protects professionals from liability if they cause an environmental incident on the job, such as bursting a sewage pipe or spilling pollutants.
Q: Why do I need pollution incident insurance coverage?
A: Accidents do happen. Many design professionals may face environmental exposure on the job. Pollution coverage provides a layer of security in case something does happen.
Q: What is directors and officers liability insurance coverage?
A: Directors and officers liability insurance provides financial protection for the directors and officers of your company if they are sued in conjunction with the performance of their duties as they relate to the company.
Q: Why do I need directors and officers liability insurance coverage?
A: Most organizations have a general liability policy that protects its directors and officers against negligent acts that result in bodily injury or property damage. However, general liability does not protect against alleged wrongful acts or omissions, including breach of duty, which do not result in bodily injury.
Directors and Officers insurance protects your executives from potential lawsuits resulting from key decisions or management practices-lawsuits that may target their personal assets. You need Directors and Officers liability insurance when you assemble a board of directors, and they will frequently make the coverage a requirement, since a director can be held personally responsible for the acts of the company and will want to be protected rather than putting their personal assets at risk. In addition, having employees leaves management open to employment practices lawsuits which are often covered under D&O policies.
Q: What is employment practices liability insurance coverage?
A: Employment practices liability coverage protects an employer against an employee’s claims of discrimination (age, sex, race, disability, etc.), wrongful termination, and sexual harassment in Arizona.
Q: Why do I need employment practices liability insurance coverage?
A: Employment practices claims have risen in the recent years, and this is where the majority of your exposure will be. In an economy where terminations and layoffs have become common, there is a potential for costly lawsuits. Employment practices suits constitute the single largest area of claim activity under D&O policies which include employment practices liability. Employment practices liability insurance is a practical way to reduce your potential exposures to these lawsuits even when the claims are without merit.
Q: What is builder’s risk insurance coverage?
A: This is a property policy designed to provide coverage for buildings while under construction. Coverage is generally written on an inland marine form. It covers the contractor’s interest in materials at the job site before they are installed, materials in transit intended for the job, and the value of the property being constructed until it is completed.The policy may be written to cover the whole structure for new construction or rehab projects. It can also be written to cover specific projects such as a new room addition or a remodeled kitchen.
The named insured of a Builder’s Risk policy is usually the contractor or developer of the property. However, it may be the building owner or homeowner if they are responsible for insuring the property while under construction. A mortgagee or lien holder may be added to the policy if required.
The most the insurer will pay for loss or damage in any one occurrence is the limit of insurance stated in the policy declarations. Limits are stated for each location. Claims are settled on an Actual Cash Value basis.
Q: What does long term care/nursing home insurance include?
A: We have programs for Long Term Care Insurance that include professional liability insurance on a claims made basis and general liability insurance on an occurrence basis, coverage for physical/sexual abuse, defense costs outside or inside the policy limits, punitive damages coverage where allowable by law, evacuation expense reimbursement coverage, first dollar coverage available (no deductible or SIR), higher deductible/SIR options available, coverage provided for medical director, resident property coverage, employee benefits liability coverage, coverage for barbers and beauticians, coverage for violation of resident rights, umbrella or excess liability up to more than $25,000,000 available.
- Skilled Nursing Facilities
- Intermediate Level Care Facilities
- Personal Care Homes
- Assisted Living Facilities
- Independent Living Facilities
- Retirement Apartments
- Residential Care Facilities
- Continuing Care Retirement Communities
- Minimum premiums of $3,500
- “A” Rated Carriers
- Coverage available in all states
- Competitive Pricing