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Do you need to have a retro date on Employee benefits Liability claims made policy?
Wiki User
∙ 11y ago
Type your answer here... yes
Wiki User
∙ 11y ago
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What is the difference between a claims made and occurrence general liability policy?
Claims Made vs OccurrenceCommercial General Liability and other types of Personal Liability policies are generally "Occurrence" policies. This means "losses that occur during the policy term" are eligible for claims servicing. The policy active at the time of the loss is the policy that would address coverage. Professional Liability Policies are generally "Claims Made" policies. This type of policy offers coverage for "claims made during the policy term". An injury that occurred long before the policy became active could still be covered based on the retro active coverage date.
Which insurance policy covers various claims for mistakes neglect or carelessness in the normal business activities of a real estate brokerage?
liability
Do you need yearly liability insurance if you have a seasonal business?
I would say that you need a policy for the entire year. The reason I say this is because of claims purposes. A general liability policy can be a reasonable premium for the year. I have several markets with competitive rates now so they are out there.
What type of commercial insurance covers an employee causing damage at a 3rd party?
This would be covered under your general liability policy for your business
Is there Coverage for owners and or supervisors if sued by employee under the general liability policy?
The answer would depend on what type of suit you are concerned with. For example if you are concerned with an employee suing because of wrongful termination or sexual harrassment this is not something covered under a standard unendorsed General Liability Policy. Some General liability policies will cover this but is is usually a defense only coverage and is very minimal. If this is they type of suit you are concerned with you will need to purchase and employment practices liability policy. Some of the policies can be very affordable depending on the nature of the business and the number of employees.
Is vacant land in another state covered for liability on a homeowners policy?
A standard homeowner's policy covers liability claims arising out of any vacant land owned by and insured.For coverage to apply, the land must be truly vacant, not used for farming, no structures, etc.
Explain homeowners personal liability?
A personal liability, or umbrella, policy pays liability limits above those you can get on your homeowners or other basic liability policy. If you are thinking of buying a personal liability policy, begin by finding out the maximum amount of personal liability your homeowners policy provides. Make sure you coordinate the liability limits so that the umbrella policy covers any liability claim in excess of the amount your basic policy will pay, up to the maximum limits of the policy.
What is the difference between lessor's risk insurance and property liability insurance?
Lessors risk coverage is for the owner of a property that leasing it to a tenant and needs a policy to cover their interest in the building and liability for third party claims. Property liability or general liability is typically included under the lessors risk policy and protects the owner from claims by third parties. For example, if I was walking up stairs in a building, slipped and fell resulting in a broken arm the owner could be found responsible for my injuries.
If a visitor to my home falls and injures herself is she covered on my home owners insurance?
For minor injuries your policy includes no-fault medical payments for guests injured on your property.For more serious injuries, your policy provides liability coverage. Liability claims do require proof of fault.
Will liability insurance cover it if an employee steals from the company he works for?
Who's liab. policy? If you mean will the employers general liabilitly policy cover his own employee stealing.. Maybe, of course charges would need to be brought etc. Most certainly turn in the claim.
What is the difference between professional and general liability?
Professional liability covers you for losses and expenses that can arise from the practice of your profession. Claims of loss or injury that result from negligence, incompetence, errors and or omissions on the part of the professional in carrying out the services being rendered.General liability is more location oriented, It provides coverage for claims that may arise from your location such as slip and fall claims or other types of injury.AnswerProfessional liability policies were developed (fundamentally) to protect against claims arising out of economic loss. General Liability exists to protect against bodily injury, property damage, personal injury & adveritising injury - - all defined terms in the policy. There is no standard Professional liability policy and each should be read and explained by an experienced professional. This is a very thin answer in the broad scheme of insurance and there are sooo many factors to consider - CONTACT A SPECIALIST WHO CAN EXPLAIN THE DIFFERENCES... possibly someone with an MLIS designation.
Where can i find good liability insurance?
Liability insurance protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy. State Farm, Allstate, and Geico are all top companies that offer liability insurance. You can contact one of the above for free quotes in your area, and find out more information to find the policy that works for you.
