Commercial Liability Insurance


Download 21.78 Kb.
bet8/8
Sana21.11.2023
Hajmi21.78 Kb.
#1791118
1   2   3   4   5   6   7   8
Bog'liq
ch26

Businessowners Policy

  • The ISO businessowners policy (BOP) includes liability coverage that is similar to the CGL form
    • The coverage includes:
      • Business liability
      • Medical expenses
      • Legal defense
    • Although the BOP excludes professional liability, some professional liability endorsements are available for:
      • retail drugstores
      • barbers and beauticians
      • funeral directors
      • optical and hearing aid establishments
      • printers
      • veterinarians

Professional Liability Insurance

  • Professional liability insurance is available for certain business professionals to provide protection against a lawsuit involving a substantial error or omission
  • The physicians, surgeons, and dentists liability coverage form covers these professionals for acts of malpractice or omission resulting in harm or injury to patients
    • Liability is not restricted to accidental acts of the physician or surgeon. The policy also covers the physician for liability arising out of negligent acts of an employee
    • Current forms permit the insurer to settle a claim without the physician’s or surgeon’s consent
    • An extended reporting period endorsement can be added to cover future claims arising out of incidents that occurred during the policy period

Professional Liability Insurance

  • Errors and omissions insurance provides protection against loss incurred by a client because of negligent acts, errors, or omissions by the insured
    • This coverage is purchased by professionals who provide advice to clients, such as:
      • insurance agents and brokers
      • travel agents
      • real estate agents
      • stockbrokers
      • attorneys
      • consultants
      • engineers, and architects
    • The policies are generally issued on a claims-made basis, covering only claims made in the current policy period
    • Claims that result from dishonest, fraudulent, criminal or malicious acts by the insured are specifically excluded

Directors and Officers Insurance

  • A directors and officers (D&O) liability policy provides financial protection for the directors and officers and the corporation if the directors and officers are sued for mismanagement of the company’s affairs

Download 21.78 Kb.

Do'stlaringiz bilan baham:
1   2   3   4   5   6   7   8




Ma'lumotlar bazasi mualliflik huquqi bilan himoyalangan ©fayllar.org 2024
ma'muriyatiga murojaat qiling