Category Archives: Business Owner Policy

Management and Professional Liability Insurance

Businesses face risks every day. Management and professional liability insurance is designed to protect you and your business against the potentially devastating costs of those exposures. Without adequate insurance protection, your clients, your reputation, your company and even your personal assets may be at risk.

Losses and lawsuits can come from any direction. You need a trusted advisor with the vision to help you anticipate those risks and determine the best coverage options for your business. We can help protect businesses of all sizes with a full range of customizable management and professional liability insurance coverages.

L and C Insurance Providers  Knows Management and Professional Liability Insurance

L and C Insurance offers dedicated policies for private companies, public companies, nonprofit organizations, financial institutions and professional services, as well as managed care organizations, healthcare organizations and community homeowners associations. With L and C insurance, you’ll find the coverage that fits your unique business needs, responsibilities and exposures. Choose either standalone coverage or a suite of coverages on a single policy. We has the flexibility to adapt to you and your business.

Who Needs Management and Professional Liability Insurance?

Consider Management and Professional Liability insurance to cover the unique risks that your organization faces in the course of doing business. In addition to providing the peace of mind that your business is protected, proper coverage can also help give your business the tools and claim resources to respond to an incident. From employee-related issues to cyber risks, this suite of products can help companies get the coverage to compete in today’s marketplace.

What is Management and Professional Liability Insurance?

Management and Professional Liability insurance refers to the suite of products that Traveler offers L and C insurance can help protect organizations from the risks of operating in the 21st century. Regardless of whether your company was at fault, these risks can come from customers, who perceive that you made a mistake that caused them financial loss or reputational harm, or from employees, who could claim that they were treated unfairly.

Management and Professional Liability insurance coverage from us can help minimize the potential financial damage your business could incur when faced with such claims. Talk to your independent agent to learn more about your specific risks and which products may be right for your organization.

Select a Product:

  • CyberRisk Insurance

    CyberRisk insurance is designed to cover the costs associated with a cyber event or a security breach, including costs for forensic investigations, legal expenses and regulatory defense expenses and fines.
  • Directors & Officers (D&O) Liability Insurance

    D&O Liability insurance helps cover defense costs, awards and settlements arising out of an actual or alleged wrongful act, including lawsuits brought against an organization’s board of directors and/or officers.
  • Employment Practices Liability Insurance
    This liability insurance provides coverage for defense costs and damages related to employment-related claims including allegations of wrongful termination, discrimination, workplace harassment and retaliation.
  • ERISA Fidelity Insurance
    This insurance covers an employee benefit plan against losses caused by acts of fraud or dishonesty such as theft, embezzlement or forgery.
  • Errors & Omissions (E&O) Insurance
    E&O insurance protects businesses and individuals against allegations of inadequate work or negligent actions.
  • Fidelity and Crime Insurance
    This coverage protects against losses due to employee dishonesty, credit card forgery, computer fraud and theft, and the disappearance or destruction of property.
  • Fiduciary Liability Insurance
    This liability insurance covers breaches for those involved in the management of a company-sponsored employee retirement or health plan.
  • Financial Institutions Bond
    This coverage is designed to protect against the actions of dishonest employees, protecting a financial institution’s balance sheet, assets and stakeholders’ investments.
  • Identity Fraud Expense Reimbursement Insurance
    This coverage provides for the financial and time-related costs you, your employees or members may incur when someone uses stolen personal information to commit a crime or fraud in your/their name.
  • Kidnap & Ransom Insurance
    This insurance typically covers payments to kidnappers or extortionists, loss of ransom in transit and other expenses incurred as a result of a kidnapping.
  • Nonprofit Directors & Officers Liability Insurance
    This coverage can help protect a nonprofit organization’s mission and vision when allegations of wrongful acts are brought against the organization and its directors and officers.
  • Property and Casualty for Financial Institutions
    This insurance helps cover the real and personal property that your financial institution owns, as well as the liabilities related to your operations.

What Is General Liability Insurance?

Commercial general liability insurance (CGL) protects your business in the event that someone makes a claim against it for bodily harm or property damage. On a daily basis, your company touches the lives of many people, including contractors, clients, customers and the general public. And, at any given point, one or several of these people could claim that your business has caused them bodily injury or property damage and initiate legal recourse. Travelers helps you prepare and protect against these types of risks with our wide range of general and business liability insurance solutions.

What Does Commercial General Liability Insurance Cover?

L and C Insurance Providers commercial general liability business insurance covers a variety of claims for damages that can result from:

  • Injuries that happen on your property, such as those from slips or falls
  • Bodily injury or property damage to a third party caused by your work, products or your employees’ activities
  • Liability of others assumed in specifically defined contracts
  • Libel, slander or business disparagement
  • Copyright infringement in your advertisement

Who Is Commercial General Liability Insurance Right For?

If it’s possible that someone could claim bodily injury or property damage due to your business operations, your employees’ actions or your services or products, you should have general liability insurance. Travelers offers commercial general liability insurance options that protect against the unique risks of businesses in a wide range of industries.

Who Needs General Liability Insurance?

Commercial general liability insurance helps cover the costs of claims made against your business by people who experience physical injury or property damage while on your business premises, while your employees engage in their work duties, or while using your products. Those costs can include legal defense, judgment or settlement. If you or your employees interact with customers face-to-face, have access to customers’ property, advertise or market your services, work on job sites or enter into contracts that require general liability coverage, then commercial general liability insurance is right for you.

What is Business Owners Policy ( BOP Insurance ) ?

Rising cost of Florida Homeowner Insurance

What Does a BOP Cover?

A business owner’s policy (BOP) combines two types of coverages to protect your small business against a variety of claims. Its coverage components include:

The general liability portion of a BOP safeguards your business in the event someone makes a claim against you or your business. General liability insurance provides protection from liability lawsuits resulting from things like a customer slipping on a wet floor, a defective product causing damage to a client’s property, or claims that the products or services you provided caused injury. It can also protect you from libel, slander and certain legal claims related to advertising.

The property portion of a BOP helps protect business property you own, lease or rent, including your buildings, equipment, furniture and inventory. It helps cover repair or replacement costs of stolen, damaged or destroyed property, including property that isn’t yours but was in your care. It can also cover loss of income and covered expenses like rent, payroll and other financial responsibilities while your property is being repaired or replaced after a fire or other covered loss.

A LNCInsuranceProviders BOP builds in many specialized coverages that can be tailored to the unique risks facing your business. Plus, it offers a wide variety of optional coverages that can offer additional protection. For example:

  • Hired and Non Owned Auto — covers your business on those occasions when you rent, lease or borrow a vehicle on a short term basis, or when your employees use their personal vehicles for company business.
  • Cyber Liability, Including Data Breach — protects your business against the costs of data breaches and other cyber security issues.
  • Crime — protects against the costs of theft of money and securities.
  • Contractor’s Equipment — helps pay for repair or replacement of tools and equipment if they are lost, stolen, or damaged.

How Can a BOP Help Small Businesses?

If you are a small business owner, a Travelers business owner’s policy offers valuable protection if you encounter scenarios like the following:

  • A customer trips over a loose wire while visiting your business, falls and fractures their wrist. They sue you to cover their medical expenses.
  • One of your contractors loses control of a piece of equipment, which damages the wall of a client’s home or accidentally breaks an item of value while performing their work.
  • A pipe bursts and floods one of your workrooms, damaging business-critical equipment and some of your products.
  • A fire destroys one of your buildings, leading you to temporarily shut down part of your business. Yet, despite being shut down, you still have to pay rent and your employees.

Who Is a Business Owner’s Policy Right For?

LNCInsuranceProviders BOP is built to protect many types of small businesses, including:

  • Commercial Real Estate
  • Contractors
  • Financial Services
  • Garages
  • Healthcare
  • Manufacturers
  • Personal Care Services
  • Pet Care Services
  • Printers and Publishers
  • Religious and Cultural Organizations
  • Restaurant and Food Service
  • Retail
  • Service Businesses
  • Technology Services
  • Wholesalers and Distributors