- Lack of labor with the correct skill set for your jobs
- Getting employees to buy into the mission and change their behavior
- Weighing risks and benefits of overseas outsourcing
- Increased waste that isn’t tracked or accounted for
- Emergency and disaster planning
- How to hire as the economy begins to recover
- Tort reform
- Navigating Healthcare Reform and the rising cost of benefits
These are the issues keeping business owners up at night – not shopping for insurance.
Seem like we are talking about you?
All insurance agencies are happy to take your money to sell you an insurance policy. Many of them will even help tackle the small problems, while ignoring the hard to find issues that are behind the increasing costs of doing business.
Specialty Risk is different. We don’t play that game. Commercial Risk is an integral part of our specialization in Agri-business and Construction and we are prepared to be leaders in a smarter conversation about the risks that cost your business money you don’t want to spend.
Speciality Risk Insurance delivers top-tier insurance products including:
- Business Owners
- Commercial Package
- General Liability
- Inland Marine
- Ocean Marine
- Commercial Auto
- Workers Compensation
- Professional Liability
- Executive Liability
- Employment Practices
- Directors & Officers
- Errors & Omissions
- Builder’s Risk
A Business Owners Policy combines your Liability, Property and other types of coverage into one comprehensive policy. This type of policy can help you save time and money on your total insurance program. This policy form is typically available for Mainstreet size organizations.
A Commercial Package policy provides one policy number for liability coverage and property coverage bundled together. Commercial Packages may also include an auto policy and umbrella policy.
General Liability coverage is designed to provide claims cost and defense cost for bodily injury and property damage arising out of your:
- Premises and Operations (including no fault medical payments)
- Products and Completed Operations
General Liability coverage is also designed to provide protection from liability from third parties arising from:
- Fire Damage Liability (damage by fire to premises rented to insured)
- Personal and Advertising Injury
Cyber Liability coverage is designed to protect organizations from suit resulting from the loss customer information that was communicated or stored electronically. If you rely on electronic data, computers and networks to support critical operations and better serve customers, use e-mail store data (including private information on computers), generate revenue online, or use your network to control production, manufacturing, inventory or a supply chain then you are at risk if you don’t have this risk covered.
Property coverage protects a first-party owner or user of property for its loss or its loss of income producing ability, when the loss or damage is caused by a covered peril. Property coverage is necessary for a number of items included but not limited to commercial buildings, equipment, furniture, fixtures, inventories, organization records, supplies, automobiles and other physical items. There are two primary types of property losses:
- Direct losses when property is lost, stolen, damaged or destroyed Indirect or consequential losses related to direct losses.
- Indirect or consequential losses related to direct losses.
Inland Marine coverage is a group of property insurance coverages designed to insure exposures that cannot be conveniently or reasonably confined to a fixed location or insured at a standard rate under a standard form; it includes coverage for property in transit over land, certain moveable property, property under construction, instrumentalities of transportation and communication (such as bridges, roads, piers, and television and radio towers), legal liability coverage for bailees, and computerized equipment. Many inland marine coverage forms provide coverage without regard to the location of the covered property; these are sometimes called “floater” policies. Inland marine coverage forms are generally broader than property coverage forms due to the relative freedom from rate and form regulation of inland marine insurance as compared with property insurance.
Ocean Marine coverage is designed to cover the transportation of goods and/or merchandise by vessels crossing both foreign and domestic waters including any inland or aviation transit associated with the shipment. This type of marine coverage also encompasses coverage for damage to the vessels involved in shipments and any legal liability arising in the course of shipment.
Business Auto coverage insures vehicles that are owned, leased, hired or borrowed by organizations, whether they are associations, corporations, partnerships or sole proprietorships. Business Auto coverage may be used to insure private passenger autos and all types of trucks, trailers, semitrailers and commercial vehicles designed for use on public roads. We can give you more details about specific coverages and deductibles and about tailoring a Business Auto plan that’s right for you and your organization.
Workers’ Compensation coverage applies to bodily injury and diseases arising out of and in the course of employment. Any bodily injury must be accidental, and the term includes death resulting from the accident. Only occupational diseases, which are unique to the occupation, are covered. Workers’ Compensation provides for the payment of four types of benefits: Medical benefits, Income benefits, Death benefits, & Rehabilitation benefits.
Umbrella or excess liability coverage is designed to provide limits in excess of underlying limits of liability coverage. The underlying liability coverage can be, and often is, an umbrella liability policy. Excess liability coverage is no broader than the underlying liability coverage; its sole purpose is to provide additional limits.
Professional Liability coverage protects companies and individuals against loss (damages and defense costs) resulting from acts in their performance of professional duties. Common claims allege negligence, misrepresentation, design errors, violation of good faith and fair dealing and inaccurate advice.
Executive Liability is liability coverage is a combination of coverages for the management of your company which typically include coverage to protect you in the following areas: as an employer, as a director or officer, & as a fiscal agent. Common losses from this liability include discrimination, sexual harassment, wrongful termination, wrongful discipline, breach of duty, security law violations, unfair competition, ERISA violations, negligent advice, careless plan management, and errors & omissions.
Employment Practices Liability coverage protects companies and individuals against loss (damages and defense costs) arising out of employment practice disputes. Common claims allege discrimination, sexual harassment, wrongful termination, and wrongful discipline.
Directors & Officers
Directors & Officers Liability coverage protects directors and officers of public, private, and not-for-profit corporations against loss (damages and defense costs) arising out of their status or conduct as directors or officers. Common claims allege breach of duty, security law violations, and unfair competition.
Errors & Omissions
Errors & Omissions liability coverage protects organizations and individuals against loss (damages and defense costs) resulting from errors or omissions in their performance of professional duties.
Fiduciary Liability coverage protects fiduciaries (as defined by ERISA) against loss (damages and defense costs) arising from the administration and management of employee benefit and pension plans. Common claims allege ERISA violations, negligent advice, careless plan management, and errors and omissions.
Crime coverage provides coverage for employee theft of money, securities, or property. Crime coverage is written with a per loss limit, a per employee limit, or a per position limit.
A Builder’s Risk policy is designed to cover property in the course of construction. There is no single standard builders risk form; most builders risk policies are written on inland marine (rather than commercial property) forms. Coverage is usually written on an all risk basis, and typically applies not only to property at the construction site, but also to property at off-site storage locations and in transit. Builders risk insurance can be written on either a completed value or a reporting form basis; in either case, the estimated completed value of the project is used as the limit of insurance.