Jump to navigation

Five Gaps in Coverage for Many Small Businesses

from Robert Bell Insurance Brokers
RSS

by Michael Bell on Jun 13, 2017

According to the latest surveys by major insurers, small to medium sized businesses have a number of critical gaps in their insurance coverage. The reasons for gaps vary; not fully understanding how certain coverage applies to their business, buying insurance from a captive agent who can’t provide the coverage, thinking their commercial coverage provides the coverage, and finally believing they don’t have the risk.

“In fact, more than 50% of private companies surveyed said they chose not to purchase directors and officer’s liability, EPLI, errors & omissions liability and pollution insurance because they felt they were already covered through their CGL policy. Another 39% felt they were adequately insured against cyber liability without additional coverage.”

Source: Insurance Business America: http://www.ibamag.com/

Here are the coverage’s you should consider to make sure you are adequately protected.

Pollution Liability- Protects against the liability that comes with polluting the environment including restoration and cleanup, liability for injuries and deaths caused by pollution.

Cyber Liability- Cyber liability is the risk posed by conducting business over the Internet, over other networks or using electronic storage technology. It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.

Directors & Officers Liability- Covers costs, damages, and defense protection to directors and officers of a company resulting from law suits and judgments arising out of poor management decisions, employee dismissals, shareholder grievances, and other such acts committed in good faith.

Employment Liability- Employment Liability provides protection for an employer against claims made by employees, former employees, or potential employees. It can cover discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations.

Professional Liability- Insurance that is designed to cover third party claims, damages and claims arising out of providing professional advice.  Many firms create legal obligations arising out of a professional's errors, negligent acts, or omissions during the course of providing services to clients.

We are ready to help you better understand your risks. Please call our office today.

Robert Bell Insurance Brokers offers the business insurance products you need. Our professional agents will consult with you on the coverage and premiums that meet your specific needs. Feel free to get in touch or get a quote today. 


Bookmark our mobile site visit m.robertbellinsurance.com

Information you need, when and where you need it most. More »

Our Insurance Companies

Safeco Insurance

Robert Bell Insurance Brokers Inc.

Our location

605 E Alvarado St #200
Fallbrook, California 92028
Jump to navigation
760-451-8556
Mon-Fri 8AM-4PM

© 2017 Robert Bell Insurance Brokers       California License #0691053