As a business owner, you face a unique set of risk exposures. Working hard to build and run your company means that you’ve got a lot to lose; having the right insurance plays a critical role in maintaining financial security, corporate profitability and legal protection for you and your employees. “Business Liability” is a broad term that can include several different individual types of coverage, including:

• General liability/Business Liability – If someone is injured or property is damaged due to your business practices, you may be held responsible. The protection that comes with a general or business liability policy covers damages, monetary losses suffered by the injured party and any punitive damages associated with the accident.

• Professional liability/Errors & Omissions (E&O) – If you provide a professional service, you are exposed to potential claims of negligence that could land you in a costly civil lawsuit. Claims such as these are generally not covered under your basic general liability policy.
• Medical malpractice – A type of liability insurance unique to the health care industry, this type of coverage protects doctors, nurses and dentists from malpractice lawsuits that may otherwise discourage health care providers from practicing medicine.
• Fiduciary liability – As a benefits plan trustee or administrator, or as a member of an investment committee, the decisions you make could have far-reaching effects on others. Fiduciary liability insurance protects you, as a designated manager of employee benefits, against liability claims.
• Cyber liability – In the digital age, it’s imperative to protect your business against cyber-crime. Data breaches in which the personally identifiable information (PII) or your customers is stolen can leave you susceptible to lawsuits, but cyber liability insurance keeps you protected.
• Excess liability/Commercial Umbrella – Sometimes, your basic commercial auto, general liability, or commercial property coverage is not enough. In the event of a catastrophic loss, an excess liability/commercial umbrella policy will protect you when damages exceed the amounts designated under your base policies.

The many facets of business insurance can sometimes seem confusing, but at DiVirgilio Insurance, it’s our business to understand the industry, provide consultative services and help create you a policy with no coverage gaps. Contact us by calling 781-592-5220 or by filling out the form on this page.