We will help implement the proper risk management strategy and insurance coverages to protect the business you have created and to ensure that your business continues to have an opportunity to succeed and grow.
As a business owner, you are potentially liable for every product, service, and operation relating to your business. While sound procedures may be stressed throughout your organization, the fact remains that no person or machine is perfect. In spite of your best efforts, harm caused to a third party relating to your business could lead to litigation.
Commercial liability insurance is designed to protect business owners and assets from a variety of exposures. It can cover liability arising from accidents on or off premises, to products sold by the insured that result in injury to the user, to contractual liability, leaving an owner free to concentrate on managing their business.
Commercial liability insurance pays for expenses such as attorney's fees, witness fees, and police reports. The coverage goes beyond the basic expenses of a legal defense to cover any reasonable expenses the business owner may incur at the insurance company's request to assist in the planning of their defense. The liability policy will also fund the premium for any bond the court requires, ensuring that the judgment will be paid if the business owner is found legally liable for an injury or property damage.
Imagine that a fire breaks out and you lose your entire inventory. Or your business is burglarized causing physical damage and possibly lost assets. Your ability to recover from these incidents is dependent on your commercial property insurance.
In case of catastrophes like fire, explosion, theft, or vandalism, property insurance helps cover your costs, whether it's to repair damaged property or replace what you've lost. In addition, property coverage can provide business interruption income if a covered loss forces you to close your business for an extended period of time. Protecting your business property insures your peace of mind if a disaster occurs.
Have you reviewed your workers compensation policy lately? Although workers compensation is required by law, the coverage, service, and price isn't always the same. Workers compensation is a critical piece of every risk management plan. It protects your business and employees from work-related exposures.
Here are some benefits of our in-house program that sets us apart:
Our objective is to keep your premium under control so you can maximize capital in other aspects of your business.
Worried about a catastrophic claim depleting your future income and business assets? Every business is vulnerable to devastating losses and lawsuits that could possibly exceed your primary insurance coverage.
Worry less about an unexpected event by supplementing your existing general, auto, and liability limits with an umbrella liability policy. This coverage is relatively inexpensive and provides additional protection for your business investment.
Here's how it works: Umbrella coverage, sometimes known as excess, extends the limits of your liability coverages to protect against larger, more catastrophic claims. This coverage takes effect when your underlying policy limits have been exceeded. The umbrella basically affords you with a convenient, inexpensive way to increase your overall limits.
Imagine you were involved in an accident in your personal vehicle while engaged in company business. Did you know your personal insurance may not cover you?
What if you have employees on the road making service calls to customers? What coverage do they have?
Also consider if your company's valuable equipment is within a vehicle and that property is lost or stolen...is it covered? A typical auto insurance policy usually does not cover these types of risks.
Commercial auto insurance provides valuable protection for your company-owned vehicles, leased or rented vehicles, and your employees' vehicles used for business purposes. Major coverages are the same as with personal auto insurance. Auto insurance pays for damages due to an accident, or damages caused by fire, theft, flood, and vandalism. It also provides liability coverage for injuries to people and property damage when you are at fault in an accident.
Downtime due to vehicle mishaps can results in lost profits. Protecting your commercial vehicle fleet with business auto insurance will aid in minimizing downtime and preserving your bottom line.
Are you a business owner, officer, board member, manager or supervisor? Do you have any role in administering your company benefit or retirement plans? If so, then your day-to-day decisions could not only involve a claim against your company but you could be putting your personal assets at risk as well.
Executive liability insurance is designed to protect exposures inherent in nearly every business that the standard general liability policy does not address. The three principal areas your need exists are in:
Do you have business equipment, materials, or supplies in transit? Do you store business property in an off-site location? Protect some of your most valuable business property or equipment wherever it may be.
Inland marine insurance provides coverage for loss exposures to business property that cannot be conveniently or reasonably confined to a fixed location. This insurance provides coverage for materials in transit, moveable equipment, and unusual property.
This broad type of coverage was developed for shipments that do not involve ocean transport. Inland marine covers articles in transit by all forms of land and air transportation as well as bridges, tunnels, and other means of transportation and communication.
Inland marine coverage can be customized to meet the individual needs of your business. Specific coverages available include:
The Leavitt Group brings together long-standing relationships with the surety marketplace and the resources necessary to help you manage your company's surety program. We are also committed to satisfying your contractual obligations while protecting your assets and supporting your current and future business needs.
Surety bonding is a valuable credit resource – one that can be vital to your company's well-being. Surety is a relationship-driven business. In support of your line of credit, the surety company wants to understand your company's operation, its business philosophy, and financial situation.
The Leavitt Group surety specialists act as your advocate working to establish and maintain your surety relationship. We gather and present data to underwriters, facilitate underwriting meetings, respond to surety questions, as well as provide daily service to your inquiries and requests. Our market knowledge is the key to establishing a successful surety program for your business.
White-collar crime is one of the fastest-growing, widespread problems facing businesses today. Crimes involving fraud and embezzlement can go undetected for years. By the time they are discovered, the losses sustained can have a devastating and irreparable effect on your bottom line. Regardless of your business size, you are a potential victim of white collar crime.
Workplace crime can happen to any business at any time. Although, it can have a bigger impact on a smaller business due to limited resources, workplace crime can happen even in the best work environments.
Crime coverage protects against losses from employee theft and dishonesty, credit card forgery, computer fraud and theft, and disappearance and destruction of property. This coverage protects current and future business assets as well as your business' credibility.
Although this risk is increasingly more common – and very costly - fewer than half of all companies protect themselves with crime coverage. Make sure your business is one that carries this critical coverage as part of your risk management strategy.
Are you a small-business owner looking for comprehensive insurance coverage all in one policy?
Since small to mid-size businesses usually face the same degree of risk, a one-package policy called a Business Owners Policy or "BOP" is available to fit the needs of your business. A BOP combines protection from all major property and liability risks in one package.
A Business Owners Policy is designed specifically for your business and industry. The coverage is generally less expensive than if purchased through separate insurance policies.
We can help you determine through a risk analysis if the BOP make sense for your business, or if a customize commercial package is needed to meet the risks you face.