What is a fiduciary insurance policy?

If a company sponsors a retirement or health plan for its employees, then the person involved anyway with the management of that plan, is considered as a fiduciary. A fiduciary is held personally liable for a breach of his fiduciary duties. For many businesses, offering an employee benefit plan is a way to retain and […]

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Does Professional Liability Insurance Protect Us From Copyright Infringement Lawsuits?

Yes, a professional indemnity insurance policy can give protection against copyright infringement lawsuits. The professional liability insurance, which is also called, errors & omissions insurance policy, offers coverage against professional risks and related legal expenditure. The errors and omissions insurance has an IPR infringement clause which offers coverage in case there is a violation of […]

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What are the Steps to Buy Commercial General Liability Policy?

A commercial general liability insurance plays a crucial role in covering property or bodily damages related claims. If you are interested in buying commercial general liability insurance policy, the following steps will help you in buying the policy – Define your requirements As commercial general liability insurance policy plays an imperative role, it is essential […]

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What are the benefits of Business Insurance?

Running a successful business always comes with inherent risks. A client could file a suit, a natural disaster can ruin things, or someone can get injured on the site. For this reason, it is essential that a business has an insurance policy in place to protect itself as well as its assets. Getting the business […]

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What is an Extended Reporting Period Endorsement?

A commercial general liability insurance policy plays a crucial role by covering a wide range of liabilities which a company may be exposed to. The policy offers protection against claims which are related to bodily injury or property damage for which your company may be liable to pay. In short, the policy covers a wide […]

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What Does General Aggregate Mean in Insurance Policy?

A general aggregate is a crucial term in commercial general liability insurance, which is necessary for all policyholders to understand. In commercial general liability insurance, the general aggregate is the maximum amount of money the insurer will pay out during a policy tenure. The general aggregate limit places a ceiling on the insurer’s obligation to […]

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What is the Importance of a Commercial Crime Insurance Policy?

A commercial crime insurance plays an important role in the smooth functioning of business by covering its various assets against a series of acts of dishonesty, theft or fraud of the employee and third-parties. No matter, how trustful your employees are (or you think so!), it’s more the senior staff and your most reliable workers […]

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What is Trade Credit Insurance?

Trade credit insurance protects the policyholder’s business against risks which are beyond his control. It insures the manufacturers, traders and other businesses against the risk when their buyer does not pay them or pays very late. Thus, it protects the accounts receivable from loss due to credit risks such as: Insolvency: When the buyer becomes […]

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What is the Difference Between Claims Made and Occurrence?

When you have a commercial general liability insurance policy, you get the option to choose between two types of policies—claims made and occurrence. Let’s understand the difference between both of them – Coverage Starts In case of an occurrence policy, the coverage starts the time an injury takes place during the policy term. While it […]

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