General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business. SIA recommends that all businesses have general liability coverage in place.
Errors & Omissions (E&O) 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. SIA recommends that all professional and technology companies have E&O coverage.
Employment Practices Liability Insurance for 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. If you have employees, SIA recommends considering this type of coverage.
D&O insurance covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.
All compainies keep Personally Identifiable Information (PII). You may have employee files with Dates of Birth or Social Security Numbers or take payments from customers using credit cards, or banking information. Hackers target small business to access information because small businesses are easier targets than large corporations. Cyber Liability insurance can pay for your legal defense, costs of notifying clients, credit monitoring for clients, public relations costs for restoring your good name, computer forensics, and more.
To find out more about these, as well as other business insurance products and services, call us and we’ll help make sure you’re properly covered.