Property and Liability Insurance
There are ways by which you can protect your properties such as using alarms and security cameras; however, some property losses and liabilities are just plain difficult to predict and avoid. These include businesses which are confronted with possible situations like natural disasters, fire accidents, and robbery. These issues can strike companies without warning so you just cannot simply escape from it. In this case, prevention is better than cure through an insurance policy.
What Needs to be Covered and Protected?
- Property. Your business needs protection against property damages. Whether it is a building or an individual property like computers, the whole business set up should have property insurance policies to cover damages brought about by natural disasters, accidents, leakage, man-made activities like vandalism, and destruction due to wear and tear.
- Liability. Businesses need to take care of people including employees, customers, company visitors, business partners, and even trespassers. It is quite unfortunate that there are cases when a company faces public liability law suits for failure to execute its duty to care such as due to improper or lack of warning signs inside dangerous premises within a building.
- Worker’s Compensation. In order to avoid employees suing employers, this type of insurance is offered in order to provide wage replacement and medical benefits to employees who are injured due to employer’s negligence during employment term.
- Environmental Impairment. If your business contributes pollution to the environment, you are mandated by environmental regulators to be liable for any losses incurred.
- Directors and Officers Liabilities. This is probably one of the least popular and misunderstood insurance packages but is still very essential as it covers the defense and cost of legal action levied against directors and officers of the company as a result of loss suffered due to allegations of wrongful acts committed by this group of people.
- Professional Liability. This type of insurance protects professionals and companies from assuming the whole cost of legal defense against a claim of negligence or failure to perform accordingly, resulting into losses or property damage. This type of coverage is not covered in the conventional general liability insurance.
- Employee Practices Exposure. Protection should not be limited to company properties, you as the employer should also be protected against legal claims from your employees. You have to remember that you are already vulnerable to employment lawsuits from the time you interview a prospective employee.
- International Coverage. As the barriers to conduct business are broken due to economic deregulation and globalization, business interest expands yet so thus exposure to risk and other critical factors. Hence, there is a need to be protected from legal claims as a result of different form of liabilities coming from other places around the world.
- Cyber Liabilities and Internet Risk Management. Some of the areas of concern in this aspect are security and privacy breach of customers. As your company uses the Internet to transact business and disseminate information, you are more likely exposed to all sorts of cyber liabilities and not just security or privacy breach.
- Long Term Business Income Exposures. This is the type of insurance that will protect your income in cases of business interruption due to fire for example.
With these insurance concerns baffling your company, it is just right that you seek an insurance provider with professionals who can provide you with innovative property and liability insurances.
What We Offer
At HGIS, we have a full range of different insurance products that are appropriate and adequate for your business regardless of its nature. HGIS/UA will provide you with personalized services and effective insurance solutions.
We have a professional staff to work closely with you in order to identify different insurance needs based on our objective assessments and reviews. We guarantee that we will only recommend cost effective insurance packages and at the same time meet your specific Risk Managementneeds and requirements.