Commercial Umbrella Insurance
Business umbrella insurance is critical in today’s litigious environment. People are more prone to sue a company or business professional now than ever before, particularly when they feel wronged by an organization that has (or is perceived to have) deep pockets. Business umbrella insurance provides extra liability protection to help protect your business in the event of a major lawsuit.
A Commercial Umbrella policy is designed to provide a level of protection against catastrophic losses. It generally is written over various primary liability policies, such as the business auto policy (BAP), commercial general liability (CGL) policy, watercraft and aircraft liability policies, and employers’ liability coverage.
As a commercial business owner, it is important to understand liability risks you could be faced with:
An employee says something damaging about another person or corporate entity on a social media platform while on the job
Advice that a staff member provides, in a consulting capacity (such as financial or tax advice) leads to a patron's financial loss
A chiropractor's adjustment results in an injury or stroke
A business patron slips on an icy walkway or is injured falling down slippery steps
An employee makes a poor decision to rush through a yellow light, causing an accident that results in severe injuries and property damage
A bartender at the local watering hole serves one too many cocktails and a customer causes a deadly accident
A server spills hot coffee on a patron, causing a severe burn