Builders Risk

Business Insurance - Quincy, IL

BUSINESS INSURANCE
in Quincy, IL

We can coordinate coverage for your business and personal life.
Builders Risk
The Builders Risk Policy is designed to provide coverage for direct loss or damage from covered causes of loss to buildings and structures under construction. The form applies to new construction as well as to renovations, remodeling, and improvements to existing buildings. This is one of two coverage approaches for construction and renovation risks. The other is provided by a variety of Inland Marine coverage forms. While these forms are basically similar to one another, each takes a different approach to providing the coverage.
Business Auto
Almost every business may face a loss due to its owning, renting, using, or loading/unloading a vehicle. Most coverage needs can be handled by a business auto policy (BAP) or similar form. BAPs may cover a variety of operations, including trucking, garaging, public and private transport, and businesses with auto exposures that fall outside the other classes. Coverage is flexible. It may be purchased as a separate policy or as part of a package of coverage that may also protect buildings and business property (equipment, furniture, etc.). A BAP generally offers:
  • Liability coverage—protection for physical injury to other persons or their property because of an accident related to your covered vehicle including legal defense cost or expense
  • Comprehensive coverage—handles loss from any cause except collision. A limited, less expensive option is available. It only protects against a set of specific causes such as fire, lightning, explosion, vandalism, and several others)
  • Collision—takes care of damage from crashes with another object or overturn of the vehicle
  • Towing and labor costs for disabled vehicles
  • Loss of use / Rental vehicle coverage—if you damage a rental car, this option helps to reimburse the rental company for income it loses because the vehicle is out of use. Also, there may be limited coverage for injury or damage that you cause to others while using a rented vehicle anywhere in the world
Commercial Property
Commercial Property policy provides coverage for real and personal property that is used in a business. An "all-risk," worldwide policy covers business property. Protecting the insured's real and business personal property must be a primary goal of any commercial insurance program. Regardless of the size of the business, tangible property usually represents a large portion of its total assets. As a result, it should always be reviewed and used for comparison when evaluating any commercial property coverage form.
Directors & Officers
If your business is incorporated, does it have a board of directors and corporate officers?

Do you serve on a board of directors?

If the answer is yes to either question, you could be exposed to lawsuits from shareholders. They may sue you, alleging that you committed acts that reduced the corporation's value. Lawsuits may also arise out of employee practices, allegations of conflicting interests, and from providing information to the investing public.

Decisions made by directors and officers impact the viability and value of a corporation. The current issues of accounting practices, financial reporting, and the use of corporate assets have resulted in an increase of lawsuits being filed against executive boards. Directors and officers (D&O) coverage should be considered a necessity for corporate entities. D&O coverage supplements the protection provided by general liability policies since the former responds to legal actions filed by shareholders, customers, scorned merger partners, and creditors.
Employment Practices Liability
Hiring and firing practices have become legal minefields that have spurred the development of Employment Practices Liability Insurance (EPLI). It is important that a business has clear policies that are applied consistently to each employee and that directly relate to their job.

The best defense against employment practice claims is to know the law in your state and then having policies and procedures that meet or exceed its legal standards.

The U.S. Department of Labor offers a Small Business Handbook from their Website at www.dol.gov. The U.S. Equal Employment Opportunity Commission also offers numerous publications addressing different employment laws from their website at www.eeoc.gov. Contacting us regarding employment practices liability insurance is another avenue to explore.

Policies and premiums for this type of coverage vary tremendously among insurers. Many companies offering the coverage also offer assistance in writing policy and procedure manuals and other ways to reduce the potential for claims involving sexual harassment, wrongful termination, or discrimination. No business is immune from these claims.
General Liability
Commercial general liability (CGL) policy is extremely broad in nature. It insures the bodily injury liability and property damage liability exposures of a variety of commercial businesses, enterprises, and ventures. The broad nature of these forms eliminates having to select and group individual or specific hazards, with the resulting potential gaps in coverage.

These policies can be offered on either an occurrence or a claims-made basis, as a monoline policy or combined with one or more other lines of insurance to form a commercial package policy. The basic exposures of the named insured covered by the CGL coverage forms include:
  • Ownership, maintenance, or use of the premises
  • Operations conducted or performed on or off the premises
  • Written contracts and agreements
  • Products manufactured, sold, or distributed
  • Completed operations
  • Personal injury
  • Advertising injury
  • Medical payments on the premises or at job sites, without regard to fault
  • Each of these coverages is subject to certain policy definitions, exclusions, and limitations.
Professional Liability
Professionals, such as doctors, lawyers and accountants, have long been held highly accountable for the consequences of their decisions. While such professions are still the “Big Three,” there are a growing number of other occupations that represent an exposure to liability loss that needs special protection, including pharmacists, architects, engineers, opticians, beauticians, insurance agents, consultants, and many others.
Commercial Umbrella
Professionals, such as doctors, lawyers and accountants, have long been held highly accountable for the consequences of their decisions. While such professions are still the “Big Three,” there are a growing number of other occupations that represent an exposure to liability loss that needs special protection, including pharmacists, architects, engineers, opticians, beauticians, insurance agents, consultants, and many others.
Workers Compensation
Workers Compensation and employers liability coverage insures against claims for work-related injuries or diseases suffered by employees that are compensable by statute and/or imposed by law as damages.

Our Partners

Applied Underwriters Partner
Berkshire Hathaway Homestate Companies
Chubb Insurance Partner
Cincinnati Insurance Companies Partner
Continental Western Group Partner
Employers Partner
Great American Insurance Group Partner
Grinnell Mutual Reinsurance Partner
Guide One Insurance Partner
The Hartford Insurance Partner
ICW Group Insurance Companies Partner
Iowa Mutual Insurance Company Partner
Missouri Employers Mutual Partners
Missouri Public Entity Risk Management Fund
Philadelphia Insurance Companies Partner
Progressive Partner
QBE Insurance Partner
Travelers Insurance Partner
West Bend Insurance Partner
The Zenith Partner
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