Liability
Following are the types of liability coverage offered through Ballam Insurance. Please contact any of our representatives for assistance in determining the best options for your business.
Directors & Officers
Directors and officers are increasingly being held personally accountable for good corporate governance. The increase in legal actions against Boards of Directors and Corporate Officers has created a demand for a product to protect them against such actions. D & O Insurance was created to protect Boards of Directors and Officers from all sectors of public and private business, industry and non-profit organizations.
Errors & Omissions
If you provide any kind of specialized knowledge or service, we recommend that you purchase an Errors & Omission Policy. Most Commercial General Liability Policies exclude suits that may arise from a service or professional advice or suits arising from losses that are purely financial. This is where an Errors & Omissions Policy would come in.
Liquor Liability
Anyone who serves or provides alcoholic beverages with or without a charge can be held responsible for losses caused by the intoxication of anyone they serve. This exposure to loss applies from the Apartment Building Owner who provides his tenants with a few glasses of wine at a party to your local tavern. As such, anyone who has any dealing with alcohol must review their policy with their Broker to ensure proper coverage. There are a number of ways in which you may help reduce your risk, such as:
- Having all of your employees who serve alcohol take a course with regard to the serving of alcohol;
- Have a written procedure manual that is consistently enforced;
- Keep a written incident report of anything that happens that may result in a loss.
Liquor Liability coverage is a must. Your Broker would place this with a company that specializes in this coverage. Often, if there is a small or limited amount of exposure, your Broker may have your Commercial General Liability policy endorsed to provide this coverage.
Special Events Liability
If you plan on hosting or sponsoring a special event (such as a golf tournament) and want to enhance the event with a major prize (such as a Hole-In-One), give us a call about coverage options. We offer major prize insurance for such events as Hockey’s Score-O, High School Fundraisers and Community Fishing Derbies. Also, if you're planning a special event (such as a dance, concert or festival), you will require Commercial Liability Insurance. We can provide this as well, along with Host Liquor Liability coverage and Event Cancellation insurance if necessary. Just give us a call for details.
Umbrella Liability
Umbrella Liability insurance provides protection against liability catastrophes. In today's court cases, many product liability and automobile liability suits result in damage awards that are in the millions, and unless you carry high limits of liability on each of your policies, you may not have enough coverage. An Umbrella policy provides the high liability limits you need for most general and automobile liability exposures in one policy.
