Corporate

Corporate insurance is a form of risk management that businesses use to protect themselves from financial loss in the event of an accident or crisis. There are many types of business insurance, and some are required by law under certain criteria.Business insurance can be an expensive investment, but it could save you thousands of dollars if disaster strikes. Before you sign any insurance agreements, it’s wise to look over the fine print of your policy.

Here are some types of business insurance that companies may need:

• General Liability Insurance: This type of insurance covers a business against claims of bodily injury, property damage, and advertising injury.
• Professional Liability Insurance: This coverage protects against financial loss as a result of malpractice, errors, and negligence.
• Workers’ Compensation Insurance: This type of insurance is required by law in most states and provides benefits to employees who are injured or become ill as a result of their job.
• Commercial Property Insurance: This coverage protects your business against loss and damage of company property due to a wide variety of events such as fire, smoke, wind and hail storms, civil disobedience, and vandalism.
• Business Interruption Insurance: This type of insurance covers lost income and expenses that result from a covered event that interrupts your business operations, such as a natural disaster or fire.

It’s important to assess your risks and think about what kind of accidents, natural disasters, or lawsuits could affect your business. The insurance agent or broker you work with is responsible for helping you protect your business, so it’s important to consider your options for agencies. If your business goes through a major change or transition in the middle of coverage, discuss it with your insurance agent as soon as possible, and ask them to walk you through your options.