Certificate of Insurance Request
COMMERCIAL OVERVIEW
Business Owners Package
Business Interruption
Commercial Property
Commercial Umbrella
Employee Benefits
Employers Practice Liability
Product Liability
Surety Bonds
Workers Compensation
Commercial Insurance
Businesses present unique exposures for insurers. The categories of insurance listed below are an outline of the coverages available through the Mack Agency.
The Business Owners Package policy contains many of the insurance coverages needed by most small businesses. The basic owners package offers business property and liability insurance protection for the operation of your business. This liability protection will generally include the operation of your business, at its established location, and the liability from your products or completed operations.
Business Owners policies do not contain all of the coverages needed by a small business. Notably they do not cover any workers compensation, professional liability, or business vehicle coverage
If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the time frame and the damage. From the time the loss occurs until your business is running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.
Commercial Property
Commercial Property protects your business against the loss or loss of use of company property. "Property" can include a variety of types: lost income or business interruption, buildings, computers, money, and valuable papers.
The Mack Agency can help you identify risk exposure and suggest strategies to mitigate your risk, whether it is through insurance, loss control techniques or other risk management alternatives.
Most package policies provide a liability insurance limit of $1 million for any one loss and $2 million in any one year. For many businesses, this limit is inadequate for real economic security. As a result, additional layers of protection in million-dollar increments are readily available in today's insurance market for most businesses.
Your employee benefits plan protects the most important resource of your business - your employees. Employee benefits can be one of your most valuable recruiting tools. We can help you assemble a generous and affordable benefits plan that attracts and retains the best employees.
Employee Practices Liability (EPL)
Employment Practices Liability Insurance otherwise known as EPL is insurance that helps protect you against claims from your employees that result from the general conduct of your business. Common examples of employee related claims include claims relating to:
Discrimination
Wrongful Discharge
Sexual Harassment
Hostile Working Environment
Wrongful Termination
Lack of Advancement
Product liability insurance protects you in case a product you produce or provide causes harm to a user or a user's property. A "product" is anything that is tangibly used, touched, or consumed. This type of insurance is recommended for every business that manufactures a product, but is especially important for companies that produce food, clothing, toys or anything else that could conceivably cause harm to someone.
Most business owner's policies include limited product liability coverage. If, for some reason, you do not have this coverage through a business owner's policy and your product runs the risk of inflicting harm on other people, you may need to buy product liability separately.
Surety Bonds
The Mack Agency will work with your company to secure:
Contract Payment and Performance Bonds
Fidelity Bonds on Employees
Code Compliance Bonds
Judicial and Court Bonds, including estate guardianship and repletion bonds
Professional Service Bonds
Workers' Compensation insurance protects employers from claims resulting from injuries to employees. It protects your business from lawsuits and provides employees with compensation for on-the-job injuries.
By law, most employers are required to provide coverage for lost wages and medical bills incurred as a result of on-the-job accidents or illnesses. For many businesses, this coverage is the largest part of its insurance.