The Stern Agency represents a multitude of excellent, financially sound insurance carriers offering the following coverages:
- Fidelity Coverage – Fidelity insurance protects organizations from loss of money, securities, or inventory resulting from crime. Common Fidelity claims allege employee dishonesty, embezzlement, forgery, robbery, safe burglary, computer fraud, wire transfer fraud, counterfeiting, and other criminal acts.
- Surety and Fidelity Bonds – Fidelity Bond– A debt obligation serving to protect an employer from loss in the event that its employees cause damages through dishonest or negligent action. Insurance companies and securities firms are often required to possess a fidelity bond.
Surety Bond – Surety bonds provide financial guarantees that contracts and other business deals will be completed according to mutual terms. Surety bonds protect consumers and government entities from fraud and malpractice. When a principal breaks a bond’s terms, the harmed party can make a claim on the bond to recover losses.
- Construction/ Development Projects – Contractor’s General Liability insurance is for residential and commercial builders, general contractors, construction managers, design and build firms, specialty contractors or subcontractors, owners or public and private construction projects. We offer contractor policies for every type of project.
- Disability Insurance – Insurance policy that pays disability benefit as a partial replacement of income lost due to illness or injury. Most disability insurance policies pay a fixed sum for a fixed period, while others pay a monthly sum for the entire period the insured is disabled from earning suitable income (as determined by his or her qualifications, experience, and training).
- Liability Insurance – General liability insurance is intended to guard operators and owners of companies from claims that may come from a broad spectrum of sources. These exposures could be just about anything, including liability engendered by accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.
- Property – Commercial Property protects your business against the loss or loss of use of company property. “Property” can include a variety of types: lost income or business interruption, buildings, computers, money, and valuable papers.
- Apartment Building Insurance – There are many different factors to take into consideration when purchasing insurance for an apartment building. Insurance for actual damage to the building and property is only a part of it. The apartment owner must also take into consideration liability insurance: the owner of an apartment building is liable for injuries that occur to tenants and guests on the property. This includes bodily injury and medical insurance, which pays for the initial batch of medical payments for any injured party. Both these types of insurance are required by law for all apartment building owners. Liability insurance can also cover litigation costs if necessary.
- Commercial Automobile – A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. It is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight of the vehicle. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances.
- Umbrella Insurance – Umbrella insurance refers to a liability insurance policy that protects the assets and future income of the policyholder above and beyond the standard limits set on their primary policies. Limits range from 1,000,000 to 100,000,000.
- Inland/Ocean Marine/Cargo – Inland marine insurance indemnifies loss to moving or movable property and is an outgrowth of ocean marine insurance. Historically, ocean marine insurance held the transporter responsible for property loss before, during, and after the completion of the voyage. In the 19th century the non-ocean portion of the journey grew as cargoes were transferred to non-ocean vessels (such as barges) and the term “inland marine” was coined. Despite the word marine, most inland marine coverages are for property on land, with property transported by water insured under ocean marine.
- Employment Practices Liability – Otherwise known as EPLI, this is insurance that helps protect you against claims from your employees that result from the general conduct of your business. Common examples of employee related claims include claims relating to: Discrimination, Wrongful Discharge, Sexual Harassment, Hostile Working Environment, Wrongful Termination and Lack of Advancement.
- Builders Risk – Builder’s risk insurance usually indemnifies against losses due to fire, vandalism, lightning, wind, and similar forces. It usually does not cover earthquake, flood, acts of war, or intentional acts of the owner. Coverage is typically during construction period only, and is intended to terminate when the work has been completed and the property is ready for use or occupancy.
- Professional Liability/Errors & Omissions – Professional liability insurance, also sometimes referred to as Errors and Omissions, is insurance to protect you and your company in the event a client alleges they have suffered a financial loss as a result of an error or an omission committed by you in the delivery of your professional services. Professional liability coverage is separate from a General Liability (GL) policy which would cover you mainly for bodily injury or property damage liability.
- Flood – Flood insurance protects against water from an overflowing
river or a hurricane’s tidal surge and also covers damage from water that
builds up during storms.
- Employee Theft/Crime – Essentially similar to Fidelity insurance, protects organizations from loss of money, securities, or inventory resulting from crime. Common Fidelity claims allege employee dishonesty, embezzlement, forgery, robbery, safe burglary, computer fraud, wire transfer fraud, counterfeiting, and other criminal acts.
- Directors & Officers – Directors and Officers Liability Insurance provides financial protection for the directors and officers of your company in the event they are sued in conjunction with the performance of their duties as they relate to the company. Think of Directors and Officers Insurance as a Errors and Omissions policy for management.
- Business Interruption – If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the time frame and the damage. From the time the loss occurs until your business is running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.
- Workers Compensation – Workers’ compensation is a form of insurance that provides wage replacement and medical benefits for employees who are injured in the course of employment, in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the tort of negligence.
New Home, Alarms, Non-smoker, Air Bags, Antilock Brakes, Daytime Driving Lights, Loss Free, Multi-Policy Personal Package Programs can be designed to meet the individual needs of you and your business. Package your insurance and save!
Our Commercial Lines Insurance agents can review your exposures with you and shop our many markets for broad coverage at a competitive cost!