LGIS can assist you with all of your commercial property needs and tailor your coverage for the specific types of property for which you need coverage, including but not limited to insurance for your building, business personal property, machinery, tools, and computer equipment. In addition to these coverages, we can also help you address your need for specific causes of loss such as Flood and Earthquake. Some businesses are unaware that these coverages are not standard on their commercial Property policies. We will also assist you in obtaining Business Income coverage, which covers lost income and sometimes other expenses in the event that your business is unable to operate due to damage to your Property from a covered claim.
GENERAL LIABILITY INSURANCE
In today’s litigious society, it is important to protect your business assets as much as possible. A general liability policy protects against claims of negligence or acts of omission that result in bodily injury, property damage, personal injury, or advertising injury to an outside person or entity. The coverage also includes the cost of legally defending your business against such claims, whether you are found liable or not. LGIS can assist you with obtaining adequate coverage to protect your business and its assets.
Whether you own large commercial vehicles, private passenger vehicles, or both, LGIS can assist you with obtaining the right types of coverages based on your vehicles and the way that they are used in your business operations. It is important to be adequately covered for both liability and property damage claims to both company owned vehicles and hired or borrowed vehicles. In addition to these coverages, we will also review other coverages such as rental reimbursement (which covers the cost of a rental vehicle in the event one of your own vehicles is out of service due to a covered claim) and towing and labor.
WORKERS COMPENSATION & EMPLOYERS LIABILITY
In most states, workers compensation is required for any business that has employees. While workers compensation coverage covers medical costs and loss of wages to an employee who is injured while performing work on behalf of your business, Employers Liability coverage, also included in a workers compensation policy, protects your business in the event that an employee claims his or her injury was a result of your company’s negligence or failure to provide safe working conditions. In addition to providing the proper coverage for your business, LGIS can work with the insurance carriers to provide solutions that create safer workplaces.
The rising costs of lawsuits and judgments are important for today’s businesses to consider. Catastrophic liability losses can happen at the least expected times, and the time and effort you have put into building your business should be protected from such claims as much as possible. A commercial umbrella policy can help protect your assets by providing liability limits above and beyond general liability, automobile liability, and/or employers liability policies and can even sometimes add additional coverages as well. To find out more, contact LGIS today.
OCEAN MARINE INSURANCE
Companies that ship goods by water should consider Ocean Marine insurance as a way to protect their products and to cover damage to the vessels that are being used to ship the products. LGIS can assist you with determining the type of coverage that you need based on the products being shipped, the conveyances used, and the location to which goods are shipped, whether it is a foreign country or within the United States.
MANAGEMENT LIABILITY INSURANCE
Management Liability Insurance can help protect businesses and their directors, officers, and managers against exposures related to management, finance, and benefits administration. A management liability policy may contain any one of the following types of coverages.
Employment Practices Liability Insurance:
In recent years, it has become much more common for employees to file lawsuits against employees. Employment Practices Liability Insurance (EPL) protects against many types of employee lawsuits. Discrimination, wrongful termination, failure to employ or promote, and sexual harassment are just a few examples. The policy also covers legal costs, regardless of the outcome of the lawsuit. In addition to helping you with obtaining this very valuable coverage, LGIS can also assist you with incorporating policies that may minimize the occurrence of employment related claims.
Fiduciary Liability Insurance:
The Employee Retirement Income Act (ERISA) of 1974 regulates the administration of retirement plans and makes fiduciaries of such plans personally liable for their actions related to their fiduciary duties. Fiduciary liability coverage protects the fiduciaries of employee benefit plans against claims alleging breach of their fiduciary duties. If your company offers a pension, 401(k) plan, profit sharing, or any sort of similar retirement plan, we can assist you with protecting the personal assets of the plan fiduciaries.
Directors & Officers Liability Insurance:
Directors and officers who serve on a board of directors often don’t realize how much they are putting themselves at risk and that they can be sued as individuals in conjunction with duties and decisions that they carry out as a member of the board. A D&O policy can protect the personal assets of the directors and officers