Protecting Your Company with Business Insurance


There’s more coverage than meets the eye – explore various commercial business insurance coverages and the benefits of having them for your company.

While many businesses are well-versed with common insurance policies —including commercial property and general liability— there may be additional commercial business insurance coverages that can help them address the risks it faces, like insurance for cyber events or equipment breakdowns. With the help of Travelers Insurance, here is a quick rundown of the various types of business insurance coverage you could choose to utilize. 

Cyber Coverage

With the looming threat of malicious attacks, the need to secure networks and protect sensitive data takes on even greater importance for your business. Cyber coverage can be a crucial safeguard against the devastating financial consequences of a cyber event, with customized insurance solutions depending on your business’s level of risk.

Employment Practices Liability

In these litigious times, it’s difficult to predict the substance or frequency of employment-related claims that may impact a business financially or operationally. Employment Practices Liability coverage can provide financial protection for defense and covered settlements (and having a dedicated claim professional to help navigate an often complex claim is a huge bonus).

Environmental Liability

Environmental events can be complicated and expensive. Securing Environmental Liability coverage can help to mitigate the expense of pollution cleanup costs, defense costs and damages related to these types of claims. In addition, access to industry-experienced Risk Control professionals can also help you keep up with environmental regulations and can help you create more effective storage and containment methods.

Equipment Breakdown

The mechanical systems you rely on to control the climate in your facilities or power your production processes are central to operating efficiently. Unfortunately, these systems can also be expensive to repair or replace. When covered risks prevent heating, cooling or other covered equipment from functioning properly, Equipment Breakdown policies can help cover the cost to get these systems up and running again.

Fidelity & Crime

Social engineering fraud is just one type of fraud that can be costly to a business. And it can easily happen as unsuspecting employees receive what appears to be a legitimate message from a vendor, client, or internal employee. Fidelity & Crime coverage can help protect against the devastating financial loss caused by social engineering fraud.

Fiduciary Liability

Offering an employee benefit plan is a way to attract and retain workers but managing those plans is a huge responsibility. Individuals with fiduciary responsibilities must act in employees’ best interests when managing health or retirement benefit plans, or they could be held personally liable. Fiduciary Liability coverage responds to claims made against employers, employee benefit plans, board members, and employees for breach of fiduciary duty.

Inland Marine

Valuable products, equipment, or property designated to be transported or stored offsite can incur damage from an accident on the job or in transit. Inland Marine insurance can increase your property coverage by better targeting your transport risks.

Manufacturers’ Error and Omissions

Design flaws in manufactured goods can lead to lost profits for customers. Income loss by those customers isn’t typically covered by a general liability policy, and this exposure could have significant economic consequences for a business. Manufacturers’ Errors and Omissions purchased as a part of your General Liability policy can help fill this coverage gap.

Umbrella and Excess Casualty

Regardless of the industry you’re in, accidents, injuries, or catastrophic events may lead to damages that exceed the limit of primary liability insurance policies, such as general liability or business auto. To provide the extra coverage needed when these extraordinary events occur, Umbrella and Excess Casualty policies layer additional liability coverage amounts on top of existing limits contained in primary policies.

Miscellaneous Professional Liability

Professionals face risks stemming from possible missed deadlines or the breach of contractual obligations that may have a financial impact or that may result in lost sales for a client. For a wide range of industries, Miscellaneous Professional Liability coverage helps protect professionals from economic damages and negligence in the performance of services when a reasonable standard of care is expected.

We understand that having so many commercial business insurance coverage options can be overwhelming, which is why we’re dedicated to working for our clients with their best interests in mind. We don’t work for insurance companies, and we won’t push you towards a policy that won’t serve your business needs. If you’re in the greater Rochester area, reach out to The Feltner Group today to speak with a broker and get your coverage started.