Professional broker-agent associations can assist you in your search for a licensed commercial insurance broker-agent. The New York general liability insurance Brokers and Agents of the West and the Western Insurance Agents Association are professional associations that can assist you in contacting a commercial insurance broker-agent in your local area. Please see the “”Resources”” section of this brochure if you would like to contact the IBA West or the WIAA Group. Also, looking through the local yellow pages under the insurance section can aid you in locating the phone numbers for those broker-agents specializing in commercial insurance. It lets you run a legal businessSome states and cities will only give you a business permit if you have active general liability insurance and a certificate of insurance.
An MGA can manage the marketing, underwriting, policy issuance, premium collection, appointing and supervision of other agents, claims payments, and reinsurance negotiations of an insurance company. Commercial insurance companies must follow the rules set out in the insurance code regarding commercial insurance cancellation and nonrenewal. If you are unclear as to your rights under the insurance code, then contact the CDI by any of the methods given in the “Talk to Us” section of this brochure. Although surplus line insurers must follow the Fair Claims Settlement Practices Regulations , the CDI has limited jurisdiction over the operation of surplus line insurers. If the company becomes insolvent , your only course of action will be through the courts. The California Insurance Guarantee Association , which protects claims with admitted insurers, does not apply to surplus line insurers.
When a commercial umbrella provides coverage for basic liability loss it does not pay the loss from the first dollar. It is common to have a Self-Insured Retention amount of at least $10,000. If there is a commercial umbrella loss and there is no corresponding underlying policy in force, you must pay the first $10,000 of the loss before the umbrella policy responds. Also known as errors and omissions (E&O) insurance, this policy could protect you from the cost of damages and legal fees when someone claims your professional service caused financial harm to them or their business. Coverage includes both mistakes on the part of your business and the failure to perform a service . Professional liability insurance should be considered if your business provides professional advice, offers a professional service, or has contractual requirements for the coverage.
We willnever accept out-of-state vehicle insurance coverage of any type. If your vehicle is registered in New York, it must have New York State auto liability insurance coverage. Use the information listed below as a guide to help select specific insurance coverage most appropriate to protecting your operation from financial disaster. Please note, however, that this information is intended as a guide only. Some insurance companies may not offer all of the coverages listed, or may offer a variation.
Employers’ liability insurance only applies to full- or part-time employees. It does not cover independent contractors or employees working outside of the U.S. or Canada. The majority of private-sector employees are covered by workers’ compensation laws established at the state level (federal employees work under federal workers’ compensation laws). States require most employers to carry workers’ compensation insurance.