Not every industry faces the same set of risks and liabilities, which means not every industry should acquire the same type of commercial insurance. With years of experience working with companies in a variety industries, we have been able to identify specific commercial insurance policies each industry should acquire to ensure protection against their unique risks and liabilities.
Industries We Serve
Below are a few of the most common industries our commercial insurance brokers have worked with which require their own specific set of commercial insurance policies.
Bar & Nightclub Industry
Businesses which operate within the bar & nightclub industry face a plethora of risks and liabilities every day that could result in lawsuits and closure. There are plenty of risks and liabilities when serving patrons alcohol which not only exist while patrons are on the premises but also continue to exist after they leave. For this reason bars and nightclubs should consider acquiring commercial insurance policies such as assault & battery insurance, product liability insurance and liquor liability insurance.
Contractors and businesses within the engineering industry are responsible for designing buildings, systems or processes which consumers and other businesses rely heavily on. Therefore, if injuries or damages to a third party result from an error made by an engineer, there are long list of businesses and consumers which could file lawsuits.
Government contractors are employers or individuals who are contracted by United States Government Departments or Agencies to execute specific duties or tasks. Since these contractors are hired to perform specific roles, they also face specific risks and liabilities which require protection from unique policies such as Defense Base Act (DBA) Insurance or Kidnap & Ransom Insurance.
The nature of the hospitality industry revolves around providing individuals with services which help alleviate stress or a place to rest and relax. Although rest and relaxation is the primary focus of the hospitality industry, businesses which operate within this industry still face their own risks and liabilities. Some of the most popular policies for the hospitality industry include Innkeeper’s Liability Insurance & Utility Services Insurance.
With the amount of data breaches and cyberattacks on the rise, companies in the IT industry are now facing more risks and liabilities than ever before. Companies which handle and store sensitive data like credit card information or social security numbers are subjected to lawsuits stemming from information stolen during a data breach or cyberattack. Commercial insurance policies recommended for the IT industry include Cyber Liability Insurance and Technology E&O Insurance.
Montessori & Private Schools
Teachers hold a great deal responsibility as they are the primary influences in shaping a young child’s mind. They also face a great deal of unique risks and liabilities related to working with and educating children. Commercial insurance policies Montessori and Private Schools should consider include Educators Legal Liability Insurance and Abuse & Molestation Insurance.
Unlike most companies, the risks and liabilities within the Nonprofit industry can cause nonprofit organizations substantially more damage due to their limited budgets. By acquiring commercial insurance policies such as Directors & Officers Insurance and Professional Liability Insurance, nonprofits are able to adequately protect their organization, employees and volunteers.
The restaurant industry is subjected to plenty of risks and liabilities which stem from preparing and serving food to consumers, many of which have the potential to cease operations indefinitely. Since these risks and liabilities are unavoidable, restaurants are advised to acquire special insurance policies including Equipment Breakdown Insurance and Spoilage Insurance.
Trade Associations are comprised of individuals looking to make positive changes within specific industries and to promote members thoughts and views to the public. However, Trade Associations also face costly risks and liabilities when members begin to voice these thoughts and views to the public. Associations can protect themselves and their members from liabilities with certain commercial insurance policies such as Cyber Liability Insurance and Fiduciary Liability Insurance.
Reach Out To Experienced Commercial Insurance Brokers
Here at CI Solutions, our commercial insurance brokers have years of experience providing companies with the coverage needed to protect against their unique risks and liabilities. For more information about our industry-specific commercial insurance products, reach out today by giving us a call at 703.988.3665 or apply for a quote online.