Commercial Liability Insurance
Protect Your Business
General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business. SCIB recommends that all businesses have general liability coverage in place.
Types of Liability Insurance
- Professional Liability Insurance (Errors & Omissions)
- Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. SCIB recommends that all professional and technology companies have E&O coverage.
- Employment Practices Liability Insurance (EPLI)
- Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, SCIB recommends considering this type of coverage.
- Directors and Officers Insurance (D&O)
- D&O insurance covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.