Insurance Terms

Claims Made Coverage

A policy providing liability coverage only if a written claim is made during the policy period or any applicable extended reporting period.

General & Professional Aggregate Limit -  $3 Million

The maximum amount your policy will pay in a 12-month policy period for bodily injury and property damage claims that you become legally obligated to pay due to your business operations and professional services.

General Liability Insurance (slip and fall)

A form of insurance designed to protect practitioners from liability exposures arising out of accidents resulting from the premises.

Professional Liability Insurance (Malpractice)

An insurance on a professional practitioner that will (1) defend suits instituted against him/her for malpractice (2) pay any damages set by a court, subject to policy limits.

Products-Completed Operations Aggregate Limit - $3 Million

The maximum amount your policy will pay in a 12-month period for bodily injury and property damage claims that result from the products you use to perform your services.  However, it does not cover products that are manufactured, sold, or distributed.

Personal & Advertising Injury Limit (Included)

The amount that your policy will pay for claims arising out of one or more of the following offenses:

·         False Arrest, detention, or imprisonment

·         Malicious prosecution

·         Wrongful Eviction or Wrongful Entry

·         Oral or written publications that slander or libel a person or organization

·         Oral or written publication or material that violates a person's right of privacy

·         The use of another's advertising idea in your advertisement

General & Professional Each Occurrence limit - $2 Million

The maximum amount the insurance carrier will pay for any one bodily injury or property damage claim that you become legally obligated to pay due to your business and professional services.

Damage to Premises Rented to You Limit  - $300,000

The amount of coverage that the insurance company will pay for fire damages you cause to a premises rented to you for 7 or fewer consecutive days.

Medical Expense Limit - $5,000

Coverage that reimburses others, whether you are liable or not, for medical and funeral expenses incurred by a third party. If medical expenses exceed the $5,000 limit provided, and you are held legally liable for the damages, then your $2,000,000 per occurrence limit will respond. This provides NO coverage to you or your employees.

Business Personal Property / Inland Marine Limit - $2,000 (Deductible $150)

A type of property coverage designed to insure your business personal property that is not at a fixed location.  This includes coverage for business personal property while in transit over land and computerized equipment.  This does not provide coverage for any fixed structures.

Identity Recovery Limit - $15,000 (Deductible $250)

This protection provides reimbursement for fraudulent use of your social security number to establish credit accounts, secure loans, enter into contracts, or commit crimes. This coverage will provide Case Management Service and Expense Reimbursement for the re-filing of applications for:

·         Loans, grants, or other credit instruments

·         Cost of notarization, postage, long distance phone calls as a result of your efforts to report an identity theft, or amend or rectify records as to your true name or identity

·         Cost for up to 12 credit reports from established credit bureaus

·         Attorneys fees and expenses for:

o    Civil suits brought against you by a creditor or collection agency due to the result of an identity theft

o    Removing any civil judgments against you as a result of an identity theft


* The information provided is a summary of insurance coverages.  All insurance policies have specific conditions, limitations, and exclusions. Please refer to the policy for exact coverages.

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