Chicago Business Insurance

General liability insurance, known as Commercial General Liability (CGL), protects your business from another person or business’s claims of bodily injury, associated medical costs, and damage to property. Some examples of what could be covered are below:

• Bodily injury: A client slips on the steps up to an architect’s office, breaking their wrist. The architect is legally liable for the client’s medical costs and time lost from work. General liability insurance could cover the claim up to the policy limits.
• Property damage: An interior designer is measuring windows in a client’s home. The ladder they are using topples over, knocking some expensive collectibles to the floor and breaking them. The cost to replace the items could be covered by the designer’s general liability insurance policy.
• Damage to client property: A business consultant was onsite at a client location. While eating lunch at his desk one day, he accidentally spilled his soda all over the client’s iPad. General liability insurance protects business consultants against third-party claims of property damage, bodily injury and associated medical costs.

Learn more about general liability insurance.

Professional liability insurance, also known as errors and omissions insurance (E&O insurance), covers another person’s claims against businesses that provide professional and personal services. Some examples of what could be covered include:

• Dissatisfied client: A consultant is working on a project for a difficult client who continually changes the scope of work. When the consultant is not able to meet the original deadline for the significantly expanded project, the client sues. Even if you haven’t made a mistake, your professional liability insurance coverage could cover the cost of defending you, as well as a settlement or judgment, up to policy limits.
• Negligence: A wedding photographer is asked by the bride to take pictures of relatives who live far away. The photographer tasks their assistant with taking the shots, but they neglect to do so. The mistake is not discovered until the relatives are back home, and the bride sues. The photographer could be protected by a professional liability policy.

Learn more about professional liability insurance.

Business owners policy (BOP) is a combination of general liability and business property insurance. BOP is often used to provide balanced coverage for small businesses who also want to protect their own business equipment. Some examples of what could be covered are below:

• Office insurance for business interruption: While a photographer is taking pictures at a wedding, his car is broken into and several expensive cameras are stolen. A business owner’s policy could cover the cost to replace the cameras, subject to policy limits, and keep the photographer’s business up and running.
• A recruiter leaves his work computer in his car while driving to a company offsite meeting, where it gets broken into. A business owner’s policy could cover the cost to replace the computer and get the recruiter back up and running.

Learn more about business owners insurance.

Hiscox now offers state mandated workers compensation insurance to ensure that injured workers receive prompt and fair compensation for job-related injuries and diseases. In most states, laws require you to pay for an injured worker’s medical care, lost wages, and death benefits. A Hiscox Workers Compensation Insurance policy must be purchased with another Hiscox business insurance policy. To get a free quote, call us at 1-855-743-2308 and speak to a licensed insurance agent, Mon-Fri 8am-10pm ET.

Learn more about workers compensation insurance.