Insurance Types For Companies
But there are other types of insurance available each one covering a slightly different aspect of business.
Insurance types for companies. E o insurance or errors and omissions insurance is liability insurance that will protect your company and its employees against claims made by clients for unsatisfactory work or inadvertent mistakes in other words e o insurance is your protection against different types of liabilities that are in correlation with the professional services you provide. Insurance companies may sell any combination of insurance types but are often classified into three groups. Consumers should always purchase cover appropriate to their level. Products vary between companies and consumers should always read their product disclosure statement pds before they purchase cover.
Standard lines excess lines captives direct sellers domestic alien mutual companies stock companies lloyds of london and more. Non life or property casualty insurance companies which sell other types of insurance. Provides information on types of insurance. Business interruption insurance compensates a business for its.
Division investigates suspected fraud committed by insurance agents brokers public adjusters bail agents insurance companies and other individuals and entities transacting the business of insurance who perpetrate fraud against consumers. This type of insurance protects the directors and officers of a company against their actions that affect the profitability or operations of the company. Some of the different types of insurance companies include. Here is a brief explanation of each of these different types of insurance companies and the specific specialty risks insured and other unique attributes.
The terms commercial insurance and business insurance are often used to describe employers liability and public liability insurance the two main types of business insurance. There are many general insurance products on the market. Directors and officers insurance.
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