Business Casualty InsuranceBusinesses owners, executives and management teams seek out AssuredPartners Northeast for guidance on how to protect their assets, because they know how valuable our technical analysis and due diligence can be to their bottom line.  You won't find any cookie-cutter solutions here.  We analyze each business profile with the understanding of just how unique every business is.

We understand that in today's business world, new liabilities emerge with frequency, and the cost of protecting yourself against such liabilities can bring operations to a screaching halt.  Our casualty professionals have experience working with many industries and an indepth knowledge of how to pair coverages with your business risks to build an appropriate insurance package.

These package coverage components may include: 

Commercial Auto

Most commercial clients have some exposure to automobile liability or physical damage as a normal part of their operations. The business auto policy contains a liability section which covers claims for bodily injury and property damage. This can also provide protection when a claim involves an uninsured or underinsured motorist, hired car or other non-owned automobile. It also contains a physical damage section which can cover comprehensive perils which includes losses such as fire, theft, windstorm, flood and additional losses due to collision. 

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Commercial Liability

Commercial liability insurance can protect businesses, their owners and employees in the event of various allegations brought against them by third parties.  General liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection whereby the insurance carrier defends the insured and if found liable, the insurance carrier pays the claimant up to the limit of liability on the policy. 

Commercial general liability policies can cover allegations of bodily injury, property damage, and personal and advertising injury resulting from these basic areas:

  • Ownership or use of the premises
  • Operations
  • Contractual agreements
  • Products made, sold or distributed
  • Completed Operations

Other liability coverage options include umbrella/excess for additional limits of liability protection, professional liability, employment practices and pollution. 

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Cyber/Privacy/Network Security Liability

Cyber policies are intended to cover a variety of losses incurred as a result of doing business electronically.  This can include selling items over the internet, but it can also include storing data within a company's own internal network.  This insurance covers a variety of expenses associated with data breaches, such as notification costs, credit monitoring, legal expenses, fines and penalties, and third party losses resulting from identity theft.  Cyber policies also typically cover liability arising out of the content on a website, such as copyright infringement, and property losses such as business interruption, data loss or destruction, computer fraud and cyber extortion.

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Directors & Officers Liability (D&O)

Directors & officers liability coverage protects directors or officers of a company from claims made against them while performing their professional duties on behalf of the company.  This can include:

  • Claims brought by shareholders against directors or officers alleging securities laws violations, breach of duty and/or mismanagement (usually as a result of poor performance).
  • Claims brought by shareholders against directors or officers for conflict of interest.
  • Claims brought by a government entity (SEC), alleging improper business activities.

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Employment Practices Liability (EPL)

Employment practices liability provides employer protection for claims alleging wrongful acts arising from the employment or hiring process.  This can include wrongful termination, discrimination, sexual harassment, discrimination and a variety of other types of workplace conduct deemed to be inappropriate.

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ERISA Fidelity and Fiduciary Liability

The Employee Retirement Income Security Act of 1974 (ERISA) was enacted to help protect the interests of pension and employee benefit plan beneficiaries.  Under ERISA, a person or organization is considered to be a "fiduciary" if they exercise control or authority over the management of any kind of employee benefit plan, specifically if they make decisions for the investment, control or disposition of assets held by the plan.  ERISA requires fiduciaries to be bonded for at least 10% of the total amount of the assets of any such plan.  Generally this requirement is fulfilled by securing an ERISA fidelity bond, which protects the plan itself from losses resulting from theft or fraud.

However, fiduciaries can also be held personally responsible for mismanagement of employee benefit plans, which is not covered by an ERISA bond.  This is where a Fiduciary Liability Insurance Policy can provide added protection.  Fiduciary Liability Insurance covers expenses of defending against claims of a fiduciary liability breach as well as the financial losses the plan may have incurred as a result of the alleged breach or errors and omissions during the course of plan management.  Although Fiduciary Liability Insurance is not required by law, employers offering benefit plans to their employees should strongly consider carrying this coverage.

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General Partner Liability (GPL)

General partner liability provides coverage for general partners in their daily activities overseeing their limited partnerships and other investment or operating means. This type of policy offers protection for claims alleging breach of duty, neglect, errors, omissions and other wrongful acts.

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Professional Liability/Errors & Omissions (E&O)

Professional liability, also known as errors & omissions liability, is designed to protect professionals, such as accountants, attorneys, architects and engineers, against liability arising out of errors and omissions during the performance of their professional services.  Generally, E&O policies cover economic or financial loss suffered by a third party.

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Workers' Compensation

The workers’ compensation and employers liability policy provides insurance for an employer and covers the insured’s statutory liability under the various state workers compensation laws or acts. All states have laws requiring insurance for workers and those laws prescribe the amount and duration of the benefits provided. The policy provides the mandatory benefits required by the various state laws for accidental work-related injuries that occur in the course of employment. The injury must arise from and be related to the injured worker’s job duties. The policy also covers costs for work related disease or death.

Employers liability covers the insured employer against its common law or tort liability for employee injuries that fall outside the scope of the state laws or acts that are separate and distinct from the liability imposed by workers' compensation laws. Employers liability coverage responds to allegations of gross negligence on the part of the employer. 

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