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Professional liability Commercial property If your business property, equipment or inventory is damaged by a storm, fire or theft, commercial property insurance will reimburse you for your losses.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) and commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence ...
Based in Westfield Center, Ohio, the company employs over 2,400 nationwide, including 1,500 in its home office. It is the largest employer in Medina County. Westfield's products are distributed through a network of more than 1,000 independent insurance agents. [5]
A typical business owner's policy includes property and liability insurance. The property insurance portion of a BOP is available most often as named-peril coverage, which provides compensation only for damage caused by events specifically listed in the policy (typically fire, explosion, wind damage, vandalism, smoke damage, etc.). [3]
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
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