Specialty Insurance Solutions

Couldn’t find what you were looking for? It’s probably listed here, under Specialty Insurance. Specialty Insurance covers the more uncommon policies and fine-tuned coverages, everything from Cyber Security to Fiduciary Liability. Some specialty policies such as International or Marine insurance aren’t needed by every business, but for those who do, they want the best coverage.

Learning the differences between things like Professional Liability (in case you provide faulty advice or products), Employment Practices Liability (for claims of employment discrimination), and Directors & Officers Liability (to protect personal assets if you as a director are ever sued personally) is important to see why each one is valuable and which one is most important to you. Read more about each coverage to see what policies could help your business.

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Cyber Security – Including Data Breach

Nowadays, a lot of information is stored on computers, but even a computer file isn’t safe from threats or damage. Cyber Security insurance is a lot more than just coverage for computer repairs. If an important file is stolen or misused, you could be facing legal charges and recovery costs. If the whole system goes down, you could be paying for specialty repairs and the downtime your employees can’t work. Between all sorts of fraud, reputation harm, legal issues, and business interruption, Cyber Security insurance is a necessity. Keep your electronic data covered to be prepared for computer threats and security breaches. Download resource.

Directors and Officers

If a Director or Officer commits or is accused of a wrongful act (e.g. error, omission, neglect, etc.) and is obligated to pay for a claim, Directors & Officers Liability helps provide coverage. Coverage is needed to protect personal assets or a spouse’s assets if you as a director or officer are ever sued personally instead of the company. Stay covered in case of an accusation. Download resource.

Employment Practices

Employment Practices Liability offers coverage for claims of employment discrimination, employment-related harassment, and wrongful employment practices. Be prepared if an incident or accusation comes up by surprise for any of these topics. Hiring or firing anyone for a number of reasons opens the door for lawsuits. Stay covered in case of an accusation. Download resource.

Fiduciary Liability

Fiduciary Liability protects you as an employer or your business as the provider of your employee’s benefit plans and funds. As a fiduciary (trustee), it is your responsibility to act in the best interest of your employee (beneficiary) while overseeing their finances, retirement, or other benefits that you, as an employer, offer. If you are accused of making a mistake or make a mistake accidentally, Fiduciary Liability will help cover those claims and legal costs to protect your company. Stay covered in case of an accusation. Download resource.

International

When you take a trip abroad, it is vitally important to make sure you are still covered no matter where you travel. The first policy you should consider is our Commercial General Liability. When you are found at fault for accidentally damaging someone else’s property or causing bodily injury, liability insurance covers you by paying for the damages to the other person.

To make sure your own workers are covered in case of an occupational injury outside the United States, consider Foreign Workers’ Compensation. If a situation escalates to a medical emergency, Repatriation Coverage provides medical evacuation back to the worker’s own country. Other policy options include Kidnap & Ransom and International Auto Coverage. We’re here to make sure you’re completely protected as you travel. Download resource.

Marine

While a cruise might sound relaxing to you, any cargo you ship by water probably won’t get the same luxury resort treatment. Marine insurance is just for that purpose. Whether it’s your cargo or your ship, Marine Insurance will help give you peace of mind during its entire travel schedule. From the origin point to the final destination and everything in between (air, land, or sea), your cargo can be covered with our Transit/Cargo policy, and your marine construction projects can be protected with our Builders Risk policy. For any other equipment that isn’t permanently fixed to a certain location, we have an Equipment Floater policy to keep it covered. Download resource.

Pollution Liability

During business operations, pollution is a valid concern. Hazardous materials can be unintentionally released or even properly contained with an accidental leak. Either way, that pollution can cause damage to property and even people. Making sure you have Pollution Liability coverage can help you fix the problem and pay for repairs or medical bills, helping you have peace of mind. Download resource.

Professional Liability

Whether your service is providing advice or providing a product, if whatever you provide turns out to be faulty, you can have a claim on your hands. Mistakes in products or recommendations can have a huge impact on customers’ lives either physically with a product or financially/relationally with advice. Professional Liability covers liability claims and lawsuits on errors professional business people might make. Stay covered in case of an accusation. Download resource.

Frequently asked questions

What is Personally Identifiable Information?

Personally identifiable information (PII) is any data that can be used to identify a specific individual.

The following list contains examples of information that may be considered PII.

  • Name, such as full name, maiden name, mother‘s maiden name, or alias
  • Social security number (SSN), passport number, driver‘s license number, taxpayer identification number, patient identification number, and financial account or credit card number
  • Address information, such as street address or email address
  • Telephone numbers, including mobile, business, and personal numbers
  • Photographic image (especially of face or other distinguishing characteristic), x-rays, fingerprints, or other biometric image or template data (e.g., retina scan, voice signature, facial geometry)
  • Vehicle registration number, owned property or title number and related information
  • Linkable information to one of the above (e.g., date of birth, place of birth, race, religion, weight, activities, geographical indicators, employment information, medical information, education information, financial information).

Often it is the combination of one or more of the above identifiers that will compromise a persons’ identity. Thoughtful care must be given to protect this information as it is common for people to believe the data is harmless and given without risk.

Why would I need a Cyber Policy for my computers if they are coverage by my Property coverage?

The standard Property coverage will cover for physical damage or theft to your computers – tangible property. The Cyber policy will provide coverage for loss of Digital Assets, Non-Physical Business Interruption and computer damage by illegal encryption from a Ransomware attack.

Do I need International Insurance if I sell or manufacture products overseas?

Absolutely…Your Commercial Package policy and Workers’ Compensation policies will only provide domestic coverage – U.S. including territories and possessions, Puerto Rico and Canada. Your business will likely need International Commercial General Liability coverage, Workers’ Compensation and Repatriation coverage. Please let us know if you have any overseas sales or manufacturing.

What is a Claims Made policy?

We are most familiar with an Occurrence policy such as Auto or Homeowners insurance or most Commercial General Liability policies. These policies are triggered by the date of the “Occurrence”. If a claim develops for an injury that occurred two years ago, we simply report the claim to the insurance company that provided the coverage two years ago even if they do not currently provide the coverage. There is the one trigger – the date of the occurrence.

A Claims Made policy requires two triggers. First, just like the Occurrence policy, was the policy in force on the date of the alleged Occurrence and second, is the policy in force on the day that the claim is made? Being able to satisfy this second trigger becomes an issue if the policy is terminated. Please let us know if we can provide you with additional information about Claims Made policies.

Testimonial by Tom T., President – Technology Services

Since the late 1980’s, Garland-Sturges & Quirk has been our Business insurance provider. One word would describe Tom and his team and that would be “Professionals”. Tom is always available to handle any questions and does so in a most deliberate and easy to understand way. Thanks for all your support over these years and best of luck in the future.

Tom T., President – Technology Services

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