Business and Commercial Insurance Definitions

Auto and Truck Insurance - A type of insurance which protects the insured against losses involving automobiles and trucks. Different coverages, e.g., the liability coverages of Bodily Injury, Property Damage, Medical Payments, Personal Injury Protection and Uninsured Motorist, and the Physical Damage coverages of Collision and Comprehensive may be included.

Building Contents Insurance - Building contents insurance provides protection for the contents of your building.

Business Owner Policy Insurance - It provides broad property and liability protection in a single contract and is designed for small and medium-sized businesses.

Crime Insurance - Crime insurance covers your business assets against employee fraud or dishonesty and can be extended to cover third party computer fraud or forgery.

Directors and Officers Insurance - Directors and officers insurance provides financial protection for the directors and officers of your company in the event they are sued in conjunction with the performance of their duties as they relate to the company. Think of directors and officers insurance as a management errors and omissions insurance policy.

Employment Practices Insurance - Employment practices insurance provides protection for an employer against claims made by employees, former employees, or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations. It covers your firm, including its directors and officers.

Errors and Omissions Insurance - Errors and ommisions insurance may be appropriate for anyone who gives advice, makes educated recommendations, designs solutions or represents the needs of others, such as teachers, consultants, software developers, ad copywriters, Web page designers, placement services, telecommunication carriers or inspectors

Fidelity and Surety Bonds Insurance - Fidelity insurance protects the clients of professionals against theft or misappropriation of funds by the professional person or an employee while the client's funds are under the control of the professional person.

Home Based Business Insurance - A home based business insurance policy provides prepackaged property and liability insurance coverages tailored to protect your home based business.

Umbrella Insurance - Umbrella insurance is designed to give one added liability protection above and beyond the limits of other insurance policies.

Workers Compensation Insurance - Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.