General Liability

General Liability and Property Insurance

As a professional transportation business, your company faces liabilities every day. The only way to protect your assets is to carry adequate business liability insurance. A Commercial General Liability (CGL) insurance policy is the first line of defense against many common claims.

We recommend that our clients carry a minimum limits of $1,000,000 per occurrence/$2,000,000 Aggregate.

General Liability insurance covers claims of bodily injury or other physical injury or property damage. It is frequently offered in a package with Property insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business. Commercial General Liability enables your business to continue operations while it faces real or fraudulent claims of certain types of negligence or wrongdoing.

Commercial General Liability policies cover claims in four basic categories of business liability:

• Bodily Injury
• Property Damage
• Personal Injury (including slander or libel)
• Advertising Injury

In addition to covering the claims listed above, Commercial General Liability policies also cover the cost to defend or settle claims – even if the claims are fraudulent.

Business Liability insurance protects your business against financial loss resulting from claims of injury or damage caused to others by you or your employees. (Some coverages may not be available on all policies or in all states.)

The Basics

A commercial liability insurance policy pays for losses arising from real or alleged bodily injury and property damage. It also covers personal injury occurring on your business premises or arising from your operations.

Bodily Injury and Property Damage Liability

Examples of covered losses include someone being hurt from a slip and fall at your business; and property damage, such as a person’s vehicle being damaged while parked at your business.

Personal and Advertising Injury Liability

Protects your business for claims such as an employee speaking or publishing inaccurate information that slanders or libels a person or organization such as a competitor, or publishing material that violates a person’s right of privacy.

Medical Expenses

This portion of your policy pays the applicable medical costs if someone is injured and needs medical treatment due to an accident on your premises.

Premises and Operations Liability

Provides coverage for bodily injury and property damage sustained by others at your premises or as a result of your business’ operations.

Tenant’s Liability Protects your business against claims of damage due to fire or other covered losses caused by you to premises that you rent.

Property Insurance

Protecting your property or building is easy for The Capacity Group. If you are a tenant in a building, we can provide replacement cost coverage for your furniture, fixtures, or supplies. Building owners can insure their buildings for replacement cost. In addition, we can build a customized policy that can also provide coverage for loss or business income in the event of a covered loss, and extra expense to help your business get up and running as soon as possible.

Other coverages to be considered:

Employment Practices Liability

Covers claims, including legal defense costs, for certain employment-related lawsuits brought against you by your employees, job applicants, customers or vendors. Typically claims for discrimination, harassment, or improper termination would be covered under an Employment Practices Liability policy.

These exposures are not covered under general liability or workers compensation insurance.

For more details on EPLI insurance, see Mike’s published article in Limo Digest magazine on our website;www.limoinsurers.com

Professional Liability insurance (also known as Errors and Omissions, or E&O coverage) is a separate type of insurance that protects your business against loss from a claim of alleged negligent acts, errors or omissions in the performance of your professional services. Professional Liability insurance is another important type of coverage to protect your business from potentially catastrophic claims.