Other Commercial Policies
Boiler and Machinery Policy
A Boilers & Machinery policy covers losses resulting from the malfunction of boilers and machinery. Most property insurance policies exclude these losses, which is why a separate boiler and machinery policy or a Commercial Package Policy is needed. The insurance covers business property, other property involved, and legal fees, if any.
Business Interruption Policy
The Business Interruption policy provides coverage for the loss of profits and continuing fixed expenses when a covered peril, such as a fire, prevents business from being carried on.
Builders Risk Policy
A Builders Risk policy insures building contractors for damage to property under construction. There are two different policy types (forms); the completed value form requires a 100% coinsurance because insurance carried must equal the completed value of the structure. The reporting form allows coverage to be carried according to the stage of completion of the structure. Perils insured against are fire, lightning, vandalism, malicious mischief, riot and civil commotion, smoke, sprinkler leakage, water damage, windstorm, and hail.
Employment Practices Liability Policy
An Employment Practices Liability policy (EPLI) covers you against lawsuits charging you with some type of employment discrimination, including age, sex, race, religion, disability etc. It also offers protection against wrongful termination of employment, sexual harassment and other employment related allegations or lawsuits.
Directors and Officers Policy
This insurance protects Directors and Officers of a company for negligent acts or omissions and for mis- leading statements that result in lawsuits against the company. There is several forms of D&O insurance; Corporate reimbursement
Liquor Liability Policy
Provides coverage for those businesses who either serve liquor for a charge, or if a license is required for you to serve liquor (even if there is no charge for it). This provides coverage for bodily injury or property damage for which you may be held legally liable for the following reasons; causing or contributing to the intoxication of any person; furnishing alcoholic beverages to a person under the legal drinking age or under the influence of alcohol; violating any statute, ordinance or regulation relating to the sale, gift or distribution or use of alcoholic beverages.