Commercial Insurance Products
Businesses must typically manage their risks in a variety of ways. They can self insure an exposure, transfer the risk, or purchase insurance
Some policies such as workers compensation, are required by law depending on the number of employees. This coverage protects employees injured at work.
Auto liability is usually required for any company owned vehicle. The comprehensive and collision coverage parts cover damage to the auto itself.
Property and liability policies are often sold as a package
product which protects damage to commercial property as well as any liability
issues which the business is involved in.
Business income typically helps a company stay in business after a loss
by providing coverage for lost profit and continuing expenses.
Many companies purchase other coverages such as employee dishonesty or environmental liability. Corporations may buy liability coverage for their directors and officers or purchase employment practices liability which deals with employee/employer issues.
The key for any business entity is to review all its potential for loss across the whole business enterprise and then decide how to best manage its risk.
