A General Liability policy provides three primary coverages. Bodily Injury includes coverage for required medical attention and lost work time; Property Damage includes coverage to repair or replace damaged property, as well as loss of use; and Personal and Advertising injury includes coverage when you are sued for libel or slander.  This coverage also includes medical payments for small claims that cause injury without having to establish that the insured was actually at fault such as trips and falls.

Let’s start with the basics – your building or structure is covered against a wide variety of situations that can go wrong.  Also included are additions, permanently installed fixtures and equipment, and the personal property used to maintain your building. Business personal property coverage includes everything from your furniture to your inventory stock.  If you are responsible for other people’s property, this coverage will protect you when that property is at your location.  Lastly, Business Income will provide coverage for continuing expenses and lost income while your business is being repaired or protects lost rental income in the event of a loss.

Auto liability covers the damage to others’ property that your auto may cause, as well as injury to other people. Auto liability protects your assets and future income. Auto Physical Damage provides protection for your company vehicles in the event of a loss, and will cover the cost of repair, towing, and/or the need for a rental vehicle if necessary.

Workers Compensation provides medical expenses, and/or lost wages & time, disability to an injured worker. This also covers the employer’s liability to employees for work-related injury or disease. Illinois state law states that every company that has a W-2 employee must carry workers compensation, or risk fines up to $10,000 in fine per day.

Professional Liability, also known as Errors & Omissions, provides coverage for lawsuits from clients who accuse your business of mistakes, undelivered services, and/or negligent services. A 2017 survey found that more than one in five business face the kind of incidents (including client complaints and contract disputes) that can lead to professional liability lawsuits.

Medical professional liability insurance, sometimes known as medical malpractice insurance, is one type of professional liability insurance which protects hospitals, senior living facilities, assisted living facilities and/or specialized mental health facilities from liability associated with wrongful practices resulting in bodily injury, medical expenses and property damage, as well as the cost of defending lawsuits related to such claims.

LEARN MORE

Employment Practices Liability insurance protects you against claims made by employees alleging wrongful acts you commit as an employer, such as wrongful termination, sexual harassment, failure to promote, or allegations of discrimination due to race, age or gender.

Cyber Liability is one of the fastest-growing types of crime in the world. Every business of every size faces cyber risk. Companies can be held liable for damages resulting from loss of confidential customer or business data and also face costs associated with responding to breaches and recovery after a loss. You need cyber liability coverage if you could be responsible for or sustain a business loss due to, unintended spreading of malware or a deliberate act that prevents others from gaining access to your computer system through the Internet. If you accidentally lose or release your customers’ personal information, you will need coverage for data breach response expenses.

LEARN MORE