If it’s possible that someone could claim bodily injury or property damage due to your business operations, your employees’ actions or your services or products, you should have general liability insurance. Travelers offers commercial general liability insurance options that protect against the unique risks of businesses in a wide range of industries. Commercial general liability insurance protects your business in the event that someone makes a claim against it for bodily harm or property damage. On a daily basis, your company touches the lives of many people, including contractors, clients, customers and the general public. And, at any given point, one or several of these people could claim that your business has caused them bodily injury or property damage and initiate legal recourse. Travelers helps you prepare and protect against these types of risks with our wide range of general and business liability New York commercial general liability insurance solutions.
While general contractors are not required to carry workers compensation, they can be liable for claims filed by employees and would be wise to require sub-contractors to provide valid proof of workers compensation insurance. Also, many states do not allow insurers’ coverage to apply to punitive damages. However, many employers’ liability insurance policies do manage to cover these costs through a “”most-favored jurisdiction”” clause.
Machinery coverage also includes major machinery systems common to most commercial buildings, such as heating, ventilating and air conditioning systems. Since most commercial property policies exclude losses from boilers and machinery, it is important to be aware of any exposure your business may have and discuss it with your broker-agent. Initially a broker-agent will meet with you to discuss your business operations and the exposures that are specific for your industry and business type. If you currently have business insurance, the broker-agent will ask to review your current policy. This is a standard practice used to determine the current coverage you have. The broker-agent is comparing limits, exposure bases, business classifications, exclusions, and endorsements in order to analyze any gaps, errors, or overlaps that may exist in your current commercial policy.
The following insurers may be actively writing or accepting new business. You may contact the companies directly or a Professional Agent or Broker for information on each companies’ underwriting activity. Companies who have provided the Department with names of contact persons, indicated their intention to accept new business in accordance with their underwriting guidelines.
If you have questions regarding particular business, then contact your broker-agent for further information. Depending on the individual risk characteristics of your business, the broker-agent will present you with different coverage options for purchasing commercial insurance. When all is said and done it is your responsibility to make an informed decision and choose the insurance that best fits your business plan. The relationship that you build with a broker-agent is extremely valuable in this critical decision making process.
Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature. Small Business Commercial AutoLearn about New York commercial auto insurance which includes liability and physical damage protection for vehicles