PJO Insurance Brokerage

A: General liability coverage protects a business and its employees from claims of bodily injury or property damage that occur on the job or on your premises.

A: General liability coverage is the most basic type of commercial insurance and one of the most important. Most landlords require their tenants to carry it. General Liability coverage protects your company from injury and property damage claims that could seriously impact your business. Every claim can cost you money by paying out the legitimate ones or by defending yourself against the fraudulent ones. Commercial general liability insurance protects you from these lawsuits up to the limits of the policy and provides you the kind of basic peace of mind needed to be an effective business owner.

A: Umbrella coverage is an additional amount of liability insurance coverage that is designed to give you, as an insured, an extra level of protection over your general liability, auto liability, and employers’ liability coverage. When the limits of a primary policy are exhausted, the umbrella policy takes over to cover the extra cost up to the limits of the umbrella policy. For example, if your general liability policy provides $1,000,000 in coverage, but your claim settles for $1,500,000, your umbrella insurance would cover the additional $500,000.

A: A lawsuit judgment or a claim may exceed your underlying primary policy liability limits. If this were to happen, you may be at risk for losing your personal assets. An umbrella policy will give you additional coverage above the limits of your primary policies. However, it should be noted that umbrella coverage cannot be used to supplement a professional liability policy.

A: Professional liability insurance also known as Errors & Omissions coverage is a separate type of insurance that protects your business against loss from a claim of alleged negligent acts, errors or omissions in the performance of your professional services. Just as doctors have medical malpractice insurance to defend themselves against lawsuits, other types of professionals, including but not limited to, architects, engineers, real estate agents, and technology professionals need protection in case they make an error or omission on the job. Professional liability insurance can pay the insured’s defense costs and damages in the case of a claim.

A: Even though professionals always try to do their best for their clients, mistakes do happen; and in a litigious society, lawsuits have become inevitable. Professional liability insurance can cover judgment costs and defense costs. Even the fraudulent claims can cost your business money.

A: Inland marine insurance protects against damage to property such as valuable papers, accounts receivable, laptops, fine arts, tools, contractors equipment or any other specialized equipment.

A: Almost every business depends on some kind of specialized property to do business, and Phoenix inland marine insurance protects you against loss of or damage to these essential pieces of your business.

A: Pollution incident coverage protects professionals from liability if they cause an environmental incident on the job, such as bursting a sewage pipe or spilling pollutants.

A: Accidents do happen. Many design professionals may face environmental exposure on the job. Pollution coverage provides a layer of security in case something does happen.

A: Directors and officers liability insurance provides financial protection for the directors and officers of your company if they are sued in conjunction with the performance of their duties as they relate to the company.

A: Most organizations have a general liability policy that protects its directors and officers against negligent acts that result in bodily injury or property damage. However, general liability does not protect against alleged wrongful acts or omissions, including breach of duty, which do not result in bodily injury.