General Commercial Liability Options

General Liability 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.  Marshall Young Insurance recommends that all businesses operating have general liability coverage in place.

The following are additional general liability coverages that are available:

Professional Liability (E&O Insurance)

Errors & Omissions covers professionals for negligence and errors or omissions that injure their clients.  In addition to covering licensed professionals such as accountants (CPA’s), attorneys, insurance agents, architect and engineers, technology companies frequently have 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 of 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.

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance 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 employee’s legal rights.  Although only 3% of Employment Practice 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.