We want to take a moment and highlight a few coverage options that are extremely valuable to have, especially if a loss occurs at your business.
Business Interruption (or Business Income) Insurance: If something happens to you and you are unable to continue working, business interruption insurance helps cover your lost income and additional expenses. Business Income insurance can provide protection against a variety of common interruptions, including natural disasters, equipment damage and vandalism.
Directors and Officers Insurance (D&O): D&O Liability insurance helps cover defense costs and damages (awards and settlements) arising out of wrongful act allegations and lawsuits brought against an organization’s board of directors and/or officers. These types of claims have become increasingly common and directors and officers themselves could be held personally liable.
Employment Practices Liability Insurance (EPLI): Over the past two decades, there has been significant growth in employment grievances. If you are found guilty, the settlement can total more than $1 million. Would your business be able to withstand such a loss?