Protecting Your Business Assets
Catastrophic claims are difficult to predict and can deliver a crippling blow to your business if the exposures are not properly covered. One way to provide peace of mind for you and your business is to purchase a commercial umbrella policy.
Do you know that every owner of a commercial operation, whether it is a retail store or a concrete contractor, runs the risk of suffering a catastrophic liability loss? Not all of these losses can be anticipated. For example:
• Insured performed tire work on claimant’s trailer. While being pulled by the claimant, the tire came off the trailer, crossed the median and caused a fatality loss in oncoming traffic. ($2 million paid)
• Insured’s employee, driving his own vehicle in the course of employment, struck the claimant’s vehicle, causing serious bodily injury to the claimant. ($1 million paid)
• As a result of insured contractor’s negligence, the county 911 phone system was disabled for several hours. ($1,191,171 paid)
A commercial umbrella policy is designed to be broader than your commercial auto or general liability policy, and can provide coverage where those policies would not. For example, a commercial umbrella will:
• Provide defense coverage if your auto or liability polices don’t cover a claim.
• Cover your business for personal injury exposures such as libel, slander, defamation of character, humiliation and discrimination.
• Provide coverage for property rented to, used by, or in the care, custody and control of the insured.
Are you protecting your commercial operation to the fullest? Contact our office about a commercial umbrella for your business.