Liability:
The
Liability of Large Businesses is much different than other
types of industry. A Large Business has many types of ongoing
operations simultaneously, each proposing new challenges for their
Liability exposure. With so many different types of business
activities, multiple suppliers and distributors, tens to thousands of
customers, clients and employees, those in charge of running Large
Businesses need to know that they have an insurance agency they can
trust and a policy that properly protects their unique exposures.
Property:
Property
of Large Businesses also greatly differs from that of other businesses.
For
example, you could have costly equipment and machines, merchandise that
is held for sale, merchandise shipped to a warehouse, supplies
delivered to you daily, expensive mainframes and end-user computers
as well as all your property spread amoung several locations. All this
must be
taken into account when insuring your property, or else you're put at
greater risk for an underinsured
or uninsured loss.
Business
Automobile: Our agency
offers multiple options for Business Automobile coverage to help assure
maximum flexibility for you. This can include specialty autos, such as
those that require a CDL or those used to carry passengers for a fee. A
fleet policy can also be written to help save premium.
Umbrella:
Umbrella coverage is important for everyone, but a necessity for Large
Businesses. Since the services, products and operations of a Large
Business impact so many people, as well as a multitude of employees, a
large and costly lawsuit is much more likely. Because of this, the
importance of excess insurance can not be overstressed.
Inland
Marine: If you are
a Large Business that ships property from one palce to another, whether
it be a warehouse, a store or equipment taken to another location, you
require "Inland Marine" insurance. This coverage protects this
equipment both on and off your premises. This could be anything from
merchandise to an expensive piece of equipment taken to another
facility.
Builder's Risk: One aspect
of Large Businesses is their ability to grow at a very fast rate. This
means that remodeling and new construction are taking place, often
times at the same place where current operations are ongoing. This type
of exposure could very well require a Builder's Risk policy, which will
protect your "under construction" portion of the building. With
multiple markets available to us, we can work to secure your coverage
for a great price.
Equipment
Breakdown: Equipment
Breakdown is another key coverage for a Large Business. This is because
a Large Business often relies upon certain pieces of equipment to
keep its operation going; it could even be just a single piece of
equipment that allows a Large Business to operate. If this piece of
equipment were to suddenly break, your entire operation could be shut
down. This is why Equipment Breakdown coverage is necessary for a Large
Business
Business
Income and Extra Expense: One
of the
main causes of a business failing after a loss is the lack of adequate
Business Income and Extra Expense coverage. Business Income coverage
helps to supplment your
lost income after a covered loss. Extra Expense coverage helps to pay
for the additional expenses you incur as a result of that loss,
including expenses such
as temporary locations and rented equipment. These two
coverages
helps to enable your business to continue to
operate as if at normal capacity during the period of restoration after
a loss, a period which could take weeks or even months to complete.
Other
Items of Consideration
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Workers'
Compensation: Workers'
Compensation for a large business can be very difficult. Did you know
that if you lease employees you could have a gap in coverage? It is
important to know that you and your employees are properly covered for
workplace accidents.
Bonds:
Our
agency has multiple markets for various bonds, from ERISA bonds for
your benefit
plans to a Nuclear Safety bond.
Special
Events: An
accident at a Special Event can be quite costly. It is also important
to know that people such as volunteers are covered. Our agency handles
all types of special events, both with and without the serving of
liquor.
Professional
Liability: When
in a Professional Service industry, the corporation itself has a large
liability for the acts of its professional personnel. You need not only
the proper limits but also the proper types of coverage. Once again,
you could be facing a gap if you have leased employees. Our agency has
access to multiple Professional Liability markets, which means you will
get the
coverage you want at a great price. |
| If you are
interested in a quote for any of these lines of insurance or are still
unsure about what exactly your business might need, please contact us. |
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As a
Large Business, what should I know?
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| Large
Businesses are substantially different than most every other type of
business because of their sheer capacity and the number of people, and
subsequently exposures, involved with operating. Insuring a Large
Business takes time, knowledge, skill and a lot of investigation to
make sure that all the various exposures are properly covered. |
| What are adequate Limits
of Insurance?" |
As
an insurance agency, we have a lot of tools available to us that help
us calculate appropriate Limits of Insurance, tools such as building
cost estimators, average prices of equipment and machinery and the
like. We will use all of these tools to do a thorough evaluation of
your business and its operations.
However, only those in charge of operations know the nuances of the
business itself. It is because of this that we strive to not just
supply you with a number, but to explain to you what your exposures
are, how we intend to protect them and the options available to you.
While we make suggestions on the Limits of Insurance that are adequate
for you, it is only through a mutual understanding of the business and
its needs that the proper policy can be written. |
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