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Your business pays for your lifestyle. You can protect that lifestyle with the right insurance. With our considerable experience in the insurance business, we’re experts at minimizing the hassle and maximizing the benefits of your business insurance. We cover all aspects of business and commercial insurance including those listed below. If you have a business insurance issue that is not listed, we’ll design a policy that meets your specific needs.

Liability

Liability insurance provides coverage for defense costs and damages arising from third party claims for bodily injury and property damage arising from your business operations or products. These types of policies can also include coverage for other related exposures, such as coverage for the owners and contractors, personal injury, medical payments and broad form property damage. If you are a tenant, the policy also covers your TENANTS’ LEGAL LIABILITY for damage caused by a Covered Cause of Loss to a premise that you rent.

Commercial Property

Your Buildings
Coverage includes all buildings and structures on the premises including completed additions; permanently installed fixtures, machinery and equipment; outdoor fixtures; additions under construction, alteration or repairs, as well as the materials, equipment, supplies and temporary structures used for making them. It also covers property owned by the Insured used to maintain or service the buildings or structures on the premises including fire extinguishing equipment, outdoor furniture, floor coverings, and appliances used for refrigerating, ventilating, cooking, dishwashing or laundering.

Buildings are covered on an “ALL RISKS – Replacement Cost” basis.

Your Business Contents
Coverage includes property owned and used in the business and, if you are a tenant or condominium unit owner, it also covers your interest in building improvements that you make or acquire.
Contents are covered on an “ALL RISKS – Replacement Cost” basis.

Loss of Income (for up to 12 months past the date of direct physical loss or damage, regardless of when repairs are completed) caused by an interruption in your business resulting from a Covered Cause of Loss. This Policy also covers those expenses you incur to resume normal business operations after the loss.

Crime Coverage to protect your money and securities and from fraudulent money orders and counterfeit paper currency, forgery and alteration exposures and also covers employee dishonesty. Money and securities limits are automatically enhanced by 25% to provide for seasonal variations.

Business Liability to cover you for bodily injury and property damage claims arising out of your operations. If you are a tenant, the policy also covers your tenant’s legal liability for damage caused by a Covered Cause of Loss to a premise that you rent. Professional Liability is optional.

Boiler and Machinery to cover you for loss or damage to mechanical or electrical equipment (electrical panels, switching panels, transformers, HVAC units, refrigeration equipment, etc.) caused by a breakdown to the insured equipment. Consequential loss coverage may be purchased to insure against loss or damage to perishables as a result of breakdown of the insured equipment.

Professional Office

Professional offices have additional risks that may not be faced by other types of business. These can include special liability protection, depending on the type of professional practice, and coverage in the event that critical client documents are destroyed or otherwise lost. You need to consider the loss of income should something happen and the possible need to use short-term rental of necessary equipment which could be quite costly.

Retailers

As a retailer, you need to ensure that you’re covered for the loss of fixtures, fittings, furnishings and displays used for your store. You also need to protect your inventory of stock. This includes goods or materials held for sale or production. Coverage is provided on an original cost basis excluding profit and overhead.

In addition, retailers need to think of protecting their income while your establishment is being rebuilt after a loss, as well as looking after rental costs that may need to be incurred during the reconstruction of your existing facility.

Contractors

Contractors face insurance needs that are quite different from most other types of business.

General Liability
General liability insurance provides coverage for defense costs and damages arising from third party claims for bodily injury and property damage arising from your business operations or products. These types of policies can also include coverage for other related exposures, such as coverage for the owners and contractors, personal injury, medical payments and broad form property damage. If you are a tenant, the policy also covers your TENANTS’ LEGAL LIABILITY for damage caused by a Covered Cause of Loss to a premise that you rent.

Course of Construction (also called Builders Risk)
CoC is a form of property insurance specifically designed for losses that might arise during a construction project. We can insure many different types of projects, such as single family homes to multi-use residential and commercial buildings. We can insure frame, non combustible and fire resistive buildings.

Business Income
This is a form of insurance against business interruption. It provides coverage against business expenses and loss of income when a business is partially or wholly interrupted as a result of damage to property from a Covered Loss.

Specialty Risks

Consider whether you may benefit from any of these additional forms of business coverage.

Directors & Officers: Coverage for Public and Private Companies and Non Profit Organizations, Management Liability Companies and Joint Ventures

Professional Liability: Coverage for Architects, Engineers, Technology and Biotechnology and Miscellaneous Errors and Omissions

Mining Risks: Directors & Officers Liability, Kidnap and Ransom insurance, Prospectors Liability (including admitted policies) and all other mining operations

Photographers: Coverage for schedules equipment including rental equipment and commercial general liability for on and off site operations. Worldwide coverage options are available.



Other ways to protect your business

Business insurance is only one way to cover your business from potentially devastating financial loss. Your advisors at Murrick Financial Planning can give you insight into Key Person Insurance that protects you in case something were to happen to key members of your organization. And Group Employee Benefits plans are a great way to keep your staff motivated.

Learn about Key Person InsuranceLearn about Group Benefits