Business Insurance

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"Expect the best and be ready for the worst”. Organizations should approach their business with a sense of enthusiasm and positivity and always expect best out of it. However, they should make sure that they are prepared and plan for the worst as many times situations are not in our control. To sail you out of these situations, AIS has a variety of valuable loss prevention products to protect your small and medium size business. Our Business Insurance advisors will help you at every step as they are well versed with the local, state and national rules & regulations. They will ensure that you are protected from all risks and in compliance with federal regulations too. This is just a part of what we mean when we say we are “Your Ambassadors for Protection.

AIS protects your business by providing following insurance policies

Commercial General Liability

Commercial general liability (CGL) is a type of insurance policy that provides coverage to a business for third party bodily injury, personal injury, and property damage caused by the business’s operations, products, or injuries that occur on the business’s premises. CGL is considered comprehensive business insurance, though it does not cover all risks a business may face.

  • There are two types of CGL policies—a claims-made policy that covers claims regardless of when the event took place, and an occurrence policy where the event must take place during a set period.
  • Companies can add other companies they contract with to their commercial liability insurance policy as an “additional insured.”

Cyber Liability

Cyber-insurance is a specialist insurance product used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities. Cyber insurance generally covers your business’ liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver’s license numbers and health records.

Errors & Omission

Errors and omissions insurance (E&O) is a type of professional liability that protects companies, their Employees, and other professionals against claims of inadequate work or negligent actions committed in the course of performance of services. As this coverage is not offered under a general liability insurance, E&O often covers both court costs and any settlements up to the amount specified by the insurance contract.

Workmen Compensation and Employer’s Liability

This is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue their employer for the tort of negligence. Most state requires that every business to purchase this policy as soon as they hire their first employee. Even when your state doesn’t require it, this policy can protect your business from expensive medical bills from work injuries as well as lawsuits over employee injuries.

State of North Dakota, Ohio, Washington and Wyoming are monopolistic states i.e. you must purchase this policy from the state fund.

Workers’ compensation can cover the cost of:

  • Ambulance rides, emergency room bills, and other employee medical emergencies
  • Medications, physical therapy, and other ongoing costs
  • Part of the wages lost while an employee is recovering
  • Legal expenses if an employee sues your business over the injury or illness

Umbrella Liability

Umbrella insurance is extra insurance that provides protection beyond existing limits and coverages of worker’s compensation and CGL and hired and non-owned auto policies. Umbrella insurance provides coverage for claims that may be excluded by other liability policies including claims like false arrest, libel, slander, and liability coverage on rental units you own.

Commercial Auto

Commercial auto insurance protects small businesses when their vehicles are involved in a collision or are stolen, vandalized, or damaged. A commercial auto insurance policy provides funds to repair or replace the vehicle and covers related medical expenses and third-party property damage.

Employment Practices Liability

Employment practices liability insurance protects companies if an employee sues over wrongful employment practices or work-related issues. These kind of disputes have become very common in US. This means companies don’t have to pay legal costs, including judgments, out of pocket when an employee or group of employees claim their rights have been violated. The Policy has to be active both when the incident of wrongdoing was filed and when it took place.

EPLI protects companies accused of:

  • Discrimination
  • Wrongful hiring / firing decisions
  • Mismanagement of benefits
  • Breach of employment contract
  • Privacy invasion
  • Sexual harassment
  • Workplace harassment

1st & 3rd Party crime bond

First-party fidelity bonds protect your tech business when an employee commits fraud, theft, or forgery against your business.

If employees have access to your finances or valuable assets, a first-party fidelity bond can give you peace of mind and provide financial reimbursement if an employee steals from your company.

Third-party fidelity bonds protect your clients from fraud, theft, or forgery committed against them by one of your employees.

A third-party fidelity bond reimburses your clients if an employee of your business steals money or property from them.

Director & Owner Insurance

Directors and officers (D&O) liability insurance is insurance coverage intended to protect individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or other type of organization. It can also cover the legal fees and other costs the organization may incur as a result of such a suit.

This insurance is to provide financial protection for the directors and officers in the event they are sued in conjunction with the performance of their duties as they relate to the company. It can also be called management E&O.

This could include mismanagement of operations or company assets, conflict of interest, misrepresentation sale of company assets, violation of laws, breach of fiduciary duties.

Accounts Receivable Insurance