BUSINESS & PERSONAL LIABILITY INSURANCE
Liability Insurance is designed to offer speciic protection against third party insurance claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. In general, damage caused intentionally as well as contractual liability are not covered under liability insurance policies. When a claim is made, the insurance carrier has the duty (and right) to defend the insured. The legal costs of a defense normally do not affect policy limits unless the policy expressly states otherwise; this default rule is useful because defense costs tend to soar when cases go to trial.
COMMERCIAL AUTO INSURANCE
Commercial auto insurance is designed for commercial trucks, tow trucks and business auto. Commercial auto insurance may also, include blanket coverage which covers all drivers of all vehicles in a fleet. Policies may be customized to meet the business needs.
COMMERCIAL PROPERTY INSURANCE
Insurance that is used to cover any type of commercial property. Commercial property insurance protects commercial property from such perils as fire, theft and natural disaster. This type of insurance is carried by a variety of businesses, including manufacturers, retailers, service-oriented businesses and not-for-profit organizations.
Workers' comp provides coverage for an employee who has suffered an injury or illness resulting from job-related duties. Coverage includes medical and rehabilitation cost and lost wages for employees injured on the job. The law in most states requires some form of workers' compensation insurance.
Bond insurance (also known as "financial guarantee insurance") is a type of insurance whereby an insurance company quarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security. As compensation for its insurance, the insuer is paid a premium ( as a lump sum or in intallments) by the issuer of owner of the security to be insured. Bond insurance is a form of "credit enhancement". The premium requested for insurance on a bond is a measure of the preceived risk of failure of the issuer. It can also be a function of the interest savings realized by an issuer from employing bond insurance or the increased value of the security realized by an owner who purchased bond insurance.