Business Insurance

Businesses present unique exposures for insurers, so it is harder to generalize about coverage’s. The categories of policies listed below are only an outline of the coverage’s available through our carriers.

Whatever your commercial insurance needs, we can design a protection program that's right for you.

Modern Insurance Marketing, Inc. provides the following types of business insurance protection:

Auto - Commercial

A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. It is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight of the vehicle. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances.

Commercial automobile insurance policies are not regulated in pricing, as are private passenger policies. There is price competition between insurance companies for good commercial automobile insurance.

BOP (Business Owners Package)

Business Owners Package policy, commonly called a "BOP" contains many of the insurance coverage’s needed by most small businesses. While these policies are not standard, there is great variation from insurance company to insurance company; there are certain common elements. The basic BOP offers business property for both building and contents, and liability insurance protection for the operation of your business. This liability protection will generally include both the operation of your business, at its established location, and the liability from your products and completed operations.

Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP policies do not contain all of the coverage’s needed by a small business. Notably they do not cover any workers' compensation, professional liability, or business vehicle coverage.

Business Interruption

If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the time frame and the damage. From the time the loss occurs until your business is running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.

Commercial Property

Commercial Property protects your business against the loss or loss of use of company property. "Property" can include a variety of types: lost income or business interruption, buildings, computers, money, and valuable papers.

Commercial Umbrella

Most package policies provide a liability insurance limit of $1 million for any one loss and $2 million in any one year. For many businesses, this limit is inadequate for real economic security. As a result, additional layers of protection in million-dollar increments are readily available in today's insurance market for most businesses.

Contractor's General Liability

Contractor's General Liability insurance is for residential and commercial builders, general contractors, construction managers, design and build firms, specialty contractors or subcontractors, owners or public and private construction projects.

We offer contractor policies for every type of project:

• Property
• Builders risk insurance and course of construction
• Liability insurance
• General liability insurance
• Contractor insurance
• Commercial auto
• Umbrella
• Workers' compensation
• Railroad protective
• Equipment insurance
• Contractor bond

Crop Insurance

Nursery Crop Insurance is available for field and container grown nursery plant inventory. This is available at a very small administration fee and part of the Federal Crop Management program.

Nursery Crop Insurance is available in all counties, in every state and the plants must be produced by a business enterprise that derives at least 50 percent of its gross income from the wholesale marketing of plants. Insurance coverage applies to all field-grown and containerized nursery plants in the county that are: 1) shown on the Eligible Plant List; 2) meet all requirements for insurability; and, 3) grown in an appropriate medium using acceptable production practices. Stock plants or plants grown for sale as Christmas trees are not insurable. An inspection of the nursery must be performed before insurance coverage begins.

The insurance year starts on June 1 and ends May 31, with a thirty-day waiting period before insurance attaches. Coverage begins the later of, June 1 or 30 days after the insurance provider receives your signed application, thus you need to make application by May 1st to ensure that you are covered for the whole year. For subsequent crop years, the insurance period begins at 12:01 am each June 1, provided you have submitted a new Plant Inventory Value Report and two copies of your catalog.

The insurance provided is against damage resulting from an insurable cause of loss occurring during the insurance period, including: adverse weather conditions; fire; wildlife; earthquake; volcanic eruption; failure of or reduction in power supply; failure of irrigation water supply; a loss in values because of an inability to market the plants due to an insurable cause of loss.

Directors & Officers Liability

Directors and Officers Liability Insurance provides financial protection for the directors and officers of your company in the event they are sued in conjunction with the performance of their duties as they relate to the company. Think of Directors and Officers Insurance as a management Errors and Omissions policy.

Directors and Officers Insurance is often confused with Errors & Omissions Liability. The two are not synonymous; Errors & Omissions is concerned with performance failures and negligence with respect to your products and services, not the performance and duties of management. Generally it is a good idea to carry both Directors and Officers Liability Insurance and Errors and Omissions Liability Insurance.

Employment Practices Liability (EPLI)

Employment Practices Liability Insurance otherwise known as EPLI is insurance that helps protect you against claims from your employees that result from the general conduct of your business. Common examples of employee related claims include claims relating to:

• Discrimination
• Wrongful Discharge
• Sexual Harassment
• Hostile Working Environment
• Wrongful Termination
• Lack of Advancement

Farm Insurance

Owning or leasing a farm means you have unique coverage needs - whether you farm 10 acres, 1,000 acres or 10,000 acres. Having your own custom insurance plan designed for the type of operation you run is an essential part of modern day farming operations. That’s where our experience in the agricultural business benefits you. We work with our carriers to design a plan that fits your needs and your budget. We specialize in working with:

• Nurseries
• Livestock and Ranches
• Hay and Row Crop
• Fruit, Vegetable and Nut Growers and Processors
• Seed Growers and Processors
• Hobby Farm.

Plans can be designed to protect every aspect of your operation. Types of coverage include:

• Farm Liability
• Dwellings, Barns and Outbuildings
• Autos, Trucks and Trailers
• Rented, Borrowed or Newly Acquired Machinery and Equipment
• Equipment Breakdown
• Farm Personal Property
• Pollution and Chemical Drift
• Fuel tank spills and leakage
• Employee Practices Liability
• Workers’ Compensation
• A Variety of Other Customized Coverage’s

As always, we look for every possible way to find discounts and pricing options to maximize the risk protection of every dollar you invest in insurance coverage. Your premiums can be adjusted to fit your budget needs by selecting deductible amounts - the more risk you can cover on your own the higher the deductible amounts and the lower the cost of your premiums.

General Liability

Normally, it is difficult for businesses or general contractors to work without general insurance. General liability insurance is intended to guard operators and owners of companies from claims that may come from a broad spectrum of sources. These exposures could be just about anything, including liability engendered by accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.

The liability you select, whether it is one, two, or three million dollars, determines the cost of general liability insurance. Also factored into the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general liability insurance, you will first have to make a down payment and then follow it up with installments. Before buying general liability insurance, it is best to compare the quotes available in the market.

It is the business owner's or general contractor’s job to make sure that the people working under him/her are covered by an insurance policy. If for example, a person who is not a part of the project gets injured, the injured person’s lawyer can target just about anyone involved in the project.

Golf Course Insurance

Our golf programs offer a complete range of custom-designed insurance solutions to fit the unique needs of each golf course owner. This includes a turnkey solution for a range of insurance products, risk management services, employee benefit programs and specialized financial services.

Areas of expertise:

• All-risk property coverage (with earthquake, flood, and wind available) including clubhouse, pro shop, maintenance buildings and other structures such as benches, ball washers, course markers, fences, nets, outdoor signs, paved walkways, paved cart paths, patios, and bridges
• The golf course, including trees, plants, shrubs, greens, tees, fairways, roughs, driving ranges, putting greens, sand traps, and bunkers
• Business income on actual loss-sustained basis
• Building ordinance or law
• Equipment breakdown
• General liability
• Auto liability
• Employee benefits liability
• Employment Practices Liability
• Environmental/pollution liability
• Liquor liability
• Professional liability Including Directors & Officers
• Workers’ compensation

Hotel & Motel Hospitality Insurance

Running a hotel in today's competitive environment is a big challenge. Getting the proper business insurance at a reasonable price can be frustrating and time consuming.

Modern Insurance Marketing, Inc. offers specialty insurance programs designed specifically for hospitality industry. We offer protection that goes beyond the industry standard forms used by many insurance companies.

Investment Property

If you own an investment property, you should make sure that you carry adequate insurance coverage. Accidents may occur and ultimately cause damage to your investment property.

If you do not have the necessary insurance, you will be responsible for the full financial cost. Owning an investment property brings with it a large degree of liability. In addition to the building itself, you may be responsible for injuries received by others while they are on your property. You could also be held responsible for damage to their belongings.

Kidnap & Ransom

As your company expands globally, so do your exposures. Companies with international operations and executives or staff who travel internationally may be targets for kidnappers and extortionists.

While no one can predict where or when a kidnapper or extortionist might strike, there are steps that you can take to protect your executives and families and prepare for a possible threat. A Kidnap & Ransom policy should be an integral part of your risk management program.

The Kidnap & Ransom policy will provide coverage for the following:

• Ransom and extortion payments as a result of a kidnapping or extortion threat.
• Loss of the ransom or extortion payment while being delivered.
• Expense coverage as a result of a ransom or extortion demand which includes fees and expenses of independent negotiators, and travel and accommodation expenses.
• Legal liability coverage protection in the event it is alleged the insured was negligent in a hostage retrieval.
• Political threat coverage for expenses when a person is wrongfully detained by anyone acting for a government or with the government's approval.

Liquor Liability

Liquor Liability Insurance is designed to provide liability insurance protection for those businesses who manufacture, distribute, or sell liquor. You need liquor liability insurance if you sell liquor and your business is a:

• Bar
• Tavern
• Nightclub
• Fraternal Club
• Convenience Store
• Liquor Store
• Restaurant

Medical Malpractice

In today’s challenging healthcare marketplace, we can help guide you to better results and a higher set of expectations with our value added services. We understand your struggle to deliver quality health care and avoid medical malpractice claims. Working in partnership with your practice, we will address affordability issues regarding medical malpractice insurance, while improving safety and quality.

Nurserymen’s Insurance

Modern Insurance Marketing, Inc. is actively involved with product development for both wholesale and retail nurseries. As a leader in this industry we work with our carriers to design a plan that fits your needs and your budget. We can provide a customized insurance plan to provide protection for the following classes:

• Greenhouses
• Containers & Pot in Pot
• Ball & Burlap
• Bare Root
• Bulbs and Cut Flowers
• Annuals
• Perennials
• Trees and Shrubs
• Flowering and Holiday Plants
• Tissue Culture Production

Plans can be designed to protect every aspect of your operation. Types of coverage include:

• Property including Greenhouses, Cravos, Tubehouses etc.
• Plant Material with Peak Season Increase
• Blanket Coverage for Equipment and Supplies
• Inland Marine
• Cargo and Transportation
• Business Income
• Equipment Breakdown
• Utility Interruption
• General Liability
• Commercial Auto
• Umbrella and Excess Liability
• Personal Lines for Owners
• Workers’ Compensation

Product Liability

Product liability insurance protects you in case a product you produce or provide causes harm to a user or a user's property. A "product" is anything that is tangibly used, touched, or consumed. This type of insurance is recommended for every business that manufactures a product, but is especially important for companies that produce food, clothing, toys or anything else that could conceivably cause harm to someone.

Most business owners policies include limited product liability coverage. If, for some reason, you do not have this coverage through a business owner's policy and your product runs the risk of inflicting harm on other people, you may need to buy product liability separately. Similarly, if your product presents a higher risk of injury (for example, it contains a hazardous material), you may need to purchase additional coverage.

Professional Liability (Errors & Omissions)

Professional liability insurance, also sometimes referred to as Errors and Omissions, is insurance to protect you and your company in the event a client alleges they have suffered a financial loss as a result of an error or an omission committed by you in the delivery of your professional services. Professional liability coverage is separate from a General Liability (GL) policy which would cover you mainly for bodily injury or property damage liability.

Property Liability

The general or public liability policy provides protection for claims of liability that are made by third parties. The policy provides defense protection even if the allegations are groundless. In addition the policy will pay any judgment up to the policy limit of coverage.

Restaurant

Today’s restaurant environment is more complex than ever and you want to know you’re covered for the unexpected occurrence.

Whether you run a small cafe or a national chain, you could be held liable for anything from contaminated or spoiled food to spilled coffee. That’s why you deserve an insurance company with commercial restaurant insurance coverage specifically designed for the risks you face.

Eligible classes include, but are not limited to:

• Fine Dining
• Casual Dining
• Fast Food
• Ethnic Cuisine
• Delicatessen
• Coffee Shop
• Micro Brewery

Special Event

Whether you are planning a corporate event, holding a large rock concert, or organizing a local flower festival, you will need special event insurance to ensure that you are covered for unexpected occurrences that may spoil the success you and your company may receive when the big day arrives.

Surety Bonds

We work with many of the country's top-rated surety companies to secure:

• Contract Payment and Performance Bonds
• Fidelity Bonds on Employees
• Code Compliance Bonds
• Judicial and Court Bonds, including estate guardianship and repletion bonds
• Professional Service Bonds

Technology Insurance

Many companies are unaware that their current business and insurance policies most likely do not cover them for all of their technology-related risks. Our technology insurance portfolio offers coverage options tailored to fit your company's unique needs.

In today's technology-driven world, companies face a number of dynamic exposures. Whether it is faulty software, inappropriate advice, misconfigured firewalls or inadequate anti-virus software, hardware failure - companies are increasingly at risk. Claims are growing rapidly, leaving companies liable for expensive lawsuits.

Wholesalers & Distributors

Modern Insurance Marketing, Inc. offers a broad range of coverage’s that are cost-effective and perfectly tailored for your business requirements if wholesaling or distributing. Get coverage specifically designed for today's wholesalers and distributors.

Our programs for wholesalers and distributors include exacting risk assessment and loss control expertise that can help reduce insurance costs for everyone from the small supplier to the large distributor.

Workers' Compensation

Workers' compensation insurance protects employers from claims resulting from injuries to employees. It protects your business from lawsuits and provides employees with compensation for on-the-job injuries.

By law, most employers are required to provide coverage for lost wages and medical bills incurred as a result of on-the-job accidents or illnesses. For many businesses, this coverage is the largest part of its insurance expense.