What is General Liability?
General liability provides protection against two types of financial
loss arising out of a lawsuit against the company. First, it covers damages
awarded to a third party because of injury or damage for which the insured
is legally responsible, including loss of use of property claims. In addition,
it covers the cost of defending the insured against the charges alleged
in the suit, including attorney fees, investigation costs, and other legal
expenses.
What is an additional insured?
Construction contracts frequently require contractors to add other parties
to their liability policies as additional insureds. It is a second layer
of protection for the contractual indemnity agreement. Additional insured
can submit claims directly to the insurer without first filing a claim
against the named insured.
What do I do if I have a claim?
If a claim occurs immediately contact your agent or broker. They will
then ask you a series of questions regarding the claim. Try to gather
as much information as you can.
What is a hold harmless agreement?
In a hold harmless agreement, one party (the indemnitor) promises to
reimburse, and in some cases defend, the other party (the indemnitee)
against claims or suits brought against the indemnitee by a third party.
The purpose of the hold harmless is to transfer the risk of financial
loss from one party (the indemnitee) to another party (the indemnitor).
If I am a sole proprietor, do I need worker's compensation?
Worker's Compensation is not required if you have no employees. You can
exclude yourself from Worker's Compensation by obtaining a waiver of Subrogation.
Are employees covered under personal injury in a general liability
policy?
Employees have no coverage with respect to injuries sustained by the
named insured, its partners or members, or to another employee or volunteer.
What is a Certificate of Insurance?
A Certificate of Insurance is a document which shows the insureds name,
liability limits, effective dates of the policy and also the brokers name
and address. This form is often requested from clients in order to show
proof to insurance or from villages or towns in order to full permits.
What is Workers Compensation?
Workers Compensation insurance provides certain payments to an employee
who suffers an on the job injury due to an accident or occupational discase.
