Typically combining Property and General Liability insurance along with a host of coverage enhancements, BOPs can be an advantageous solution for small to medium-sized businesses. Is your company a good candidate for the unique features of a BOP? Talk to a Hood Hargett expert.

Insures against damage to buildings or contents due to a covered cause of loss such as a fire, windstorm, lightning strike, etc. The policy may also cover the loss of income if the business experiences a suspension of operations or pay for extra expenses incurred so that the business can continue to operate on some level following a direct physical loss.

The industry standard liability policy to protect businesses against third-party claims for bodily injury and property damage arising out of premises, operations, products, or completed operations; as well as advertising and personal injury liability. Sound complicated? It can be. Wise business owners trust a knowledgeable partner to guide them through the maze and ensure their business and its assets are safely protected.

Just as you need auto insurance for your personal vehicle, a business requires auto coverage for all company owned/leased vehicles. Should you or an employee have an accident in a company car you may be liable for bodily injuries (including lost wages), property damage, etc. not to mention the cost involved to repair the business vehicle. We will structure the right coverage for your organization's needs.

All states require employers to carry Workers' Compensation insurance. The coverage protects an employer by covering an employee’s medical costs and lost wages should they suffer an injury during and arising out of the course of their employment. The policy also provides liability protection for the employer. Each state has individual laws that must be met, and statutes often change. It pays to have an expert from Hood Hargett on your side.

Designed to protect against catastrophic loss, a Commercial Umbrella Policy provides excess coverage when the underlying liability policy limits are exhausted and in some cases provide protection against certain claims not covered by the underlying policies. Certain restrictions and nuances color every Commercial Umbrella Policy. Your skilled team at Hood Hargett will help craft your Umbrella Policy to ensure you’re well protected.

Covering directors and officers, management personnel and employees, this liability insurance protects against wrongful acts that can arise in the workplace. Claims covered include wrongful termination, discrimination, sexual harassment, and retaliation. Additionally, the policies can cover employment-related claims such as defamation, invasion of privacy, failure to promote, deprivation of a career opportunity, negligent evaluation, and other workplace misconduct.

General Liability insurance will not protect against claims of professional negligence. Professional liability coverage is designed to protect professionals (e.g. accountants, attorneys, real estate brokers, consultants, etc.) against liability incurred as a result of a perceived error or omission in performing their professional services. Although there are a few exceptions (e.g., physicians, architects, and engineers), most professional liability policies only cover economic or financial losses suffered by third parties as bodily injury and property damage claims are typically addressed under the commercial general liability coverage.

Lawsuits against directors and officers can come from a variety of sources but are most typically filed by shareholders. Breach of duty, fraud, unfair business practices, and infringement of trade secrets are examples of allegations that can be filed against both for-profit and nonprofit organizations. This coverage protects the assets of the company as well as the personal assets of the directors and officers. A comprehensive policy includes coverage for defense costs.

Under ERISA law, a company representative involved as an administrator or manager of employee benefit plans is held to a strict standard of conduct. Failure to act responsibly and in the best interest of the plan participants can lead to the fiduciary being personally liable for breach of duty. This insurance responds to a number of possible allegations that can be brought against a fiduciary by plan participants or their beneficiaries.

Employee theft affects virtually every business. In a commercial crime policy, one of the key coverages provided protects against employee dishonesty. Covering theft of money, securities, or property, the policy can be written with a per-loss limit, a per-employee limit, or a per-position limit.

More than ever, companies must acknowledge the importance of cyber protection. We offer first- and third-party coverage for numerous classes of business. We also address a wide range of cyber liability exposures. Hood Hargett has made it a priority to design and offer comprehensive coverage across the cyber spectrum.

Builders Risk is specialized insurance that insures buildings while in the course of construction or major renovation. In addition to the building under construction, most builders risk policies include coverage for materials, building supplies, onsite equipment, equipment in transit, and equipment at temporary locations. Construction plans can vary and builders risk insurance policies have flexibility and options that can be customized to meet the construction project’s needs.

A contract under which one party (the surety) guarantees the performance of certain obligations of a second party (the principal) to a third party (the obligee). For example, most construction contractors must provide the party for which they are performing operations with a bond guaranteeing that they will complete the project by the date specified in the construction contract in accordance with all plans and specifications.

Common law liability imposed on those selling alcoholic beverages, as well as the statutory liability established in some states, which is excluded in general liability policies.

Inland & Ocean Marine coverage provides protection to fill the gaps in commercial property policies. These policies can be utilized to provide broad protection for goods in shipment, a wide-range of fixed and mobile equipment, fine arts, and specialized medical or scientific equipment. We can help you determine whether purchasing marine insurance makes sense for your business.

Did you know liability from pollution is normally excluded to some degree by general liability, auto, and umbrella policies? In recent years, insurers have attempted to introduce strict exclusionary language into these policies. It may be necessary to seek coverage under separate environmental insurance policies that cover liability and cleanup costs associated with pollution.

Coverage for damage to property caused by flood is often a source of confusion (and sometimes unpleasant surprises) for many business owners. Excluded by most property policies, coverage for flood losses is typically obtained through the National Flood Insurance Program (NFIP). Your partners at Hood Hargett will help you navigate these issues.