It’s been a busy week here at the insureon offices. In addition to launching our Small Business Heroes program, we introduced three new kinds of business insurance so we can better protect entrepreneurs who own nonprofit organizations, accountant firms, and manufacturing companies.
Here’s a look at how our newest coverage types can protect your business.
General Liability Insurance for Manufacturers
Owning a manufacturing firm requires constant juggling. Between managing suppliers, transportation partners, and clients, manufacturers have their plates full at all times. Our Commercial General Liability Insurance helps manufacturers manage the many risks they face by providing protection from a variety of perils, including…
- Property damage: Other people’s property that’s lost, damaged, or stolen while in your care.
- Personal injury: Injuries to partners, clients, or affiliates (but not your employees) that happen on your premises.
- Contract liability: Any responsibilities you accept by entering into a business-related contract (such as a lease).
- Completed products issues: Complications that happen after the goods you produce leave your premises and get into the hands of your clients or their customers.
Insureon’s new General Liability coverage funds the legal defense of claims for any of the above issues, as well as any settlement or judgment for which you’re found liable related to those claims.
Errors & Omissions Insurance for Accountants
Much of the work accountants do involves providing advice or guidance rather than a concrete product. Because of this, their work is not covered by the Completed Products coverage included in most General Liability policies.
Instead, accountants require Errors & Omissions Insurance (also called Professional Liability Insurance) to protect them against claims that their work caused a client financial loss or damage. Insureon now offers E&O coverage from a variety of A-rated insurance companies so that accountants can secure all the insurance they need from the convenience of our online application system.
Directors & Officers Insurance for Nonprofits
Their unique tax structure means that nonprofits have equally unique insurance needs. Directors and Officers Insurance (usually called simply D&O Insurance) shields the leaders of nonprofit organizations from lawsuits. Because nonprofits typically have “shallow pockets,” people who are dissatisfied with them tend to bring lawsuits against their directors and officers, who may be professionals with significant net worth.
Insureon’s new D&O coverage protects owners of nonprofits against claims that their leaders…
- Treated employees improperly.
- Neglected or failed to perform their duties.
- Handled the organization’s assets inappropriately.
Manufacturers, Accountants, & Nonprofits: Secure Your Coverage Today!
If you own a manufacturing, accounting, or nonprofit business, contact insureon today to find out whether our newest coverage types can help protect your business.