General Liability (CGL) Policy - a standard insurance policy issued to business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability.
Umbrella liability insurance provides an extra layer of protection against bodily injury and/or property damage. Essentially, it picks up after your business auto liability, general liability or employers liability limits are exhausted.
Coverage may include vehicles owned or leased by the company, hired by the company, or employee-owned vehicles used for business purposes. A business or commercial auto policy covers both liability and/or physical damage.
Commercial Property Policy - an insurance policy for businesses and other organizations that insures against damage to their buildings and contents due to a covered cause of loss, such as a fire. The policy may also cover loss of income or increase in expenses that results from the property damage (PD). Earthquakes and floods typically aren't covered by commercial property insurance, unless those perils are added to the policy by endorsement.
A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.
Bond insurance, also known as “financial guaranty insurance,” is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security.
Employment practices liability insurance, known in the trade as EPL insurance or EPLI, provides coverage to employers (PDF) against claims made by employees alleging: Discrimination (based on sex, race, age or disability, for example) Wrongful termination Harassment Other employment-related issues, such as failure to promote.
Professional liability / E&O - a type of liability coverage designed to protect traditional professionals (e.g., accountants, attorneys) and quasi-professionals (e.g., real estate brokers, consultants, computer programmers) against liability incurred as a result of errors and omissions in performing their professional services
Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.
Cyber liability insurance covers financial losses that result from data breaches and other cyber events. Many policies include both first-party and third-party coverages. First-party coverages apply to losses sustained by your company directly.
Employee Benefits Liability insurance provides coverage to an employer for errors or omissions in the employer's administration of its employee benefits program. For example, if a new employee requests to receive medical insurance through the employer and the employer failed to add the new employee to the plan. Then the health insurance company later denies coverage for the employee's medical claim.
The Employee Benefits Liability coverage would pay for the benefits that would have been payable under the health insurance plan but for the employer's error. This coverage applies to a wide range of employee benefits including health, life and disability insurance, retirement plans, and other benefits offered through plans administered by the employer.