Liability Insurance

insurancesign_420x315General liability insurance is a broad commercial policy that covers general liability exposures of a business. Coverage typically includes product liability, completed operations, premises and operations, and personal and advertising injury. We recommend that all businesses operating have general liability coverage in place.

Business Owners Policy (BOP)

A business insurance policy that combines property, liability and business interruption coverages for small to medium-sized businesses. This packaged set of coverages is generally less expensive than if each coverage was purchased separately. A Business Owners policy is typically available to businesses and industries that are viewed as having relatively low liability exposures.

Workers Comp & Employers Liability

This coverage pays for medical care and physical rehabilitation of employees injured at work and helps to replace lost wages while they are unable to work. Additionally, this coverage protects an employer from being sued by an injured worker in most cases. A commonly overlooked exposure for companies who employ mostly office workers is the potential injury to employees while driving their own vehicles on company business. This could be as simple as an employee driving to a sales call, the bank or office supply store. If you have employees, it is critical that you consider this important coverage. In the state of MN it is required by law that you carry this coverage if you have employees.

Professional Liability (E&O)

E&O covers professionals for negligence and errors or omissions that injure their clients. In addition to covering licensed professionals such as accountants, attorneys, insurance agents, architect and engineers, technology companies frequently have a professional liability exposure. This typically arises from the fact that the general liability policy excludes damage to data. Technology E&O can protect your company in the event that your negligence, error, or omission causes damage to a third party’s data. We recommend that all professional and technology companies have E&O coverage.

Umbrella

This business insurance policy provides coverage for losses above the limit of an underlying policy or policies such as General Liability, Employers Liability and Automobile Liability. Due to the unpredictable nature of jury awards, Northwest Insurance recommends that your business insurance program have this coverage.

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance for employers that covers employment-related liabilities other than on the job injuries. EPLI will cover legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. Although only three percent of Employment Practices lawsuits go in favor of the plaintiff, the average cost to defend yourself in one of these is well over $200,000. If you have employees, we recommend considering this coverage.

Directors and Officers (D&O)

D&O covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There are a variety of D&O coverages. Corporate reimbursement coverage indemnifies directors and officers of the organization. Side-A coverage provides D&O coverage for personal liability when directors and officers are not indemnified by the firm. Entity coverage, for claims made specifically against the company, is also available. D&O policies may be broadened to include coverage for employment practices liability.

Commercial Auto Liability

This business insurance policy provides for bodily injury liability and property damage, as well as for injuries/damage the policyholder causes to someone else when operating a company automobile. Medical payments or Personal Injury Protection (PIP) for treatment of injuries to the driver and passengers of the policyholder’s car are also covered.

Hired/Non-owned Auto Liability

This provides a business with business insurance coverage for certain liabilities arising from the use of a rented or leased vehicle (hired) or a non-owned vehicle (employee using their own vehicle on company business). This can often be inexpensively be added to the commercial auto policy or in some cases a general liability policy.