Accelerated Benefits - Benefits available in some life insurance policies before death, usually triggered by long-term, catastrophic or terminal illness. Also known as living benefits.
Account current - An account current is the billing statement an insurance company sends to its producer.
Account selling - Account selling is trying to handle all of a client's insurance needs, rather than providing for only a portion of those needs.
Accounts Receivable and/or Valuable Papers - Covers loss or damage to your documents and/or records caused and or resulting from a covered cause of loss.
Adjusted cash flow/benefits paid - The ratio of adjusted cash flow to total cash benefits paid to policyholders.
Boiler & Machinery - Covers breakdown of equipment and machinery.
Business Auto - Provides comprehensive liability protection including bodily injury, property damage, medical payments and uninsured motorists as well as property damage protection for fire, theft, vandalism and more.
Business Income - Covers (usually up to 12 months) loss of earnings and/or extra expense you sustain from an event covered by your policy.
Commercial Property - In most cases, this provides coverage for "risks of direct physical loss" to your buildings and your business personal property. Losses from things like earthquakes, floods, decay and normal wear are not covered here.
Commercial Umbrella - Provides broad higher limits of liability (usually 1 million and up) for catastrophic losses against the company in excess of your primary policy limits.
Crime - There are 10 covered causes of loss in the crime policy. Some policies only cover one, while others cover more than one. They are: employee dishonesty, forgery and alteration, robbery, burglary, safe burglary, theft, disappearance, destruction, computer fraud and extortion.
Directors & Officers Liability - (D&O) Protects the personal assets of the directors and officers in the event they are sued over the performance of their company related duties.
Employee Dishonesty - Coverage for loss of your business and personal property, money and securities caused by dishonest acts committed by your employees.
Employment Practices Liability - Protects the company against employment-related liability issues. Things like sexual harassment lawsuits, failure to promote, wrongful termination and discrimination are covered here.
Electronic Data Processing - Covers your computer equipment and software.
Equipment Floater - Coverage for direct physical loss to almost any type of portable or mobile contractor's equipment not approved for public road use, rental reimbursement is often added as well.
General Liability - Coverage protecting your business against claims of bodily injury and/or property damage to others, arising out of injury on your premises, products you make or advertising and personal exposures. Claims are subject to occurrence and aggregate limits.
Glass and Sign - Coverage for loss or damage to windows and outdoor signs caused by or resulting from a covered cause of loss.
Group Life Insurance - Group Life Insurance is like individual life insurance at lower prices and its easier to get.
Hired and Non-Owned Auto - If you or your employees rent vehicles or use personal cars for business use, you need this coverage. Of course, if your business owns automobiles, you need Business Auto Insurance.
Installation/ Builders Risk - Coverage for structures being built and temporary structures and the building site.
Money and Securities - Coverage for theft, disappearance or destruction at your premises, at a bank, or while in transit. Coverage is sometimes automatically increased for special holidays.
Professional Liability - Also called E&O, provides protection when you are held legally liable for how you rendered or failed to render professional services.
Tenants Legal Liability. Coverage for damages of a building in which you are held legally liable that you are renting.
Workers' Compensation - Covers on the job, or job-related injuries. Covers with or without regard to legal liability their medical expenses, rehabilitation costs, lost wages and pain and suffering. In most states, this is a required coverage if you have over three employees.
