Business Insurance

Business Owners Policy

A BOP is a package policy typically combining General Liability and Property Insurance, along with other optional coverages...

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from small to medium sized businesses in lower risk business classes. A BOP may be available depending on the type of business, annual sales, number of employees and other factors.

A BOP typically includes General Liability to cover your commercial liability and property insurance for physical assets, such as contents, that are leased or owned. The package insurance policy may also cover loss of business income and extra expense resulting from a covered loss.
The General Liability insurance coverage of a BOP is comparable to a typical Commercial General Liability (CGL) policy, providing protection against claims of bodily injury or property damage for which your business may be liable.

Accidents that cause bodily injury and/or property damage. Claims such as libel and slander. False advertising *General Liability insurance does not cover errors or negligence from professional services.

A BOP policy may include, or you may be able to select as an option;

Outdoor Sign Insurance
Money and Securities Insurance
Employee Dishonesty Insurance
Water Back Up Insurance
Not all businesses are eligible for a BOP policy. If you are a business that has any of the following characteristics you may not be eligible for a BOP. But don't worry, we can assist you with obtaining other forms of commercial insurance. Characteristics typically not eligible for a BOP policy include:

Large Premises Operations
High risk or highly specialized operations
Majority of business conducted off-premise
Requires liability limits higher than offered with a BOP

Typically a BOP policy is very competitively priced, however remember the BOP does not provide coverage to items such as Workers' Compensation, Professional Liability Exposures or Commercial Auto Insurance.

Commercial General Liability

Commercial general liability provides coverage for a variety of situations including but not limited to business personal property damage/loss, advertising claims and injury claims.

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These are things that almost every business owner needs protection against, Commercial general lability insurance is really a basic necessity.

General liability protects your business against two basic exposures: Bodily injury and property damage arising out of your Premises and/or Operations & bodily injury and property damage arising out of your Products and/or Completed Operations.

Park West Insurance Service is an expert at addressing your general liability insurance needs. Please contact us for assistance.

Professional Liability

Also known as Errors and Omissions insurance, Professional Liability insurance is your most critical coverage...


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Professional Liability Insurance -sometimes called errors and omissions (E&O) liability results from errors or omissions in the performance of professional services. Companies that perform professional services for others can make mistakes—overlook a critical piece of information, misstate a fact, be misunderstood, forget to do something, misplace something, etc.—and be sued by their clients over allegations such as:

1) Error, omission, or negligence in providing a service.
2) Failure to provide a service.
3) Fraud.
4) Improper documentation.
5) Malpractice.

Professional Liability insurance protects you and your business from potentially catastrophic litigation caused by charges of professional negligence or failure to perform your professional duties.

Workers' Compensation

Workers Compensation protects your employees should an injury occur during the course of employment. Payments are made to the injured party and can consist of medical payments, loss of wages or therapy.

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All states require all employers to carry Workers' Compensation insurance and each state has individual laws that must be met.

At the very minimum, Workers' Compensation insurance policies will cover an employee's medical expenses and reimburse him or her for some percentage of lost wages.

Almost all states are "open market", which means the coverage is underwritten by private insurers; and some states are "closed" or "monopolistic" - the coverage is underwritten by a state-sponsored fund (ND, OH, WA, WV, WY). In states that are open, rates can vary between insurance carriers depending on the type of business the carrier is attempting to attract. In an open market, the rates for workers' compensation are competitive.

Employers with one or more employees are subject to the provisions of their states Disability Benefits Law. This law provides benefits to employees who may be become disabled because of injuries/sickness off the job or that may arise from other conditions such as pregnancy. Payments for these types of benefits are only allocated for the payment of wages... unlike that of workers' compensation which provides payment for medical costs.

Rates for these policies are dependent on the degree of hazard that each occupation carries. Each occupation is coded and defined by state laws. Premiums are determined by the amountof payroll in each occupation code and is subject to annual audit for verification.

Commercial Umbrella

If you own a business, you probably have some form of general liability insurance to protect you in the event of a lawsuit due to negligence on your part.

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However, there may be situations where the limits of your general liability policy may not provide adequate protection. A commercial umbrella can provide you and your business with additional liability protection.

As a commercial umbrella policy provides liability limits in excess of those on your general liability policy, you and your business can enjoy additional protection in the event of a catastrophic event that may result in hundreds of thousands or even millions of dollars being awarded to plaintiffs in a lawsuit as a result of your negligent act. Commercial umbrella policy coverage types and amounts will vary depending on the issuing company.

Commercial umbrella policies can be a good value because they provide much additional insurance protection for a relatively small premium. This is because umbrellas are considered secondary coverage, meaning that your primary policy limits must first be exhausted before coverage takes effect from your commercial umbrella policy.

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance is designed to protect your company from claims made by potential employees, current employees, and past employees.

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The policy shields employers from claims of harassment, discrimination, failure to hire, wrongful termination, and includes all current, former, and prospective employees, directors and officers, even the corporate entity.

No companies are exempt from the issues related to employment practices. If prospective employees are not hired or if you have to let one of your employees go, they may find fault in the way that they were treated. According to some estimates, more than half of all companies will face a lawsuit from an employee or potential employee, making it essential that your company carries employment practices liability insurance.

Commercial Auto

Commercial Auto Liability coverage provides protection for any business-owned or leased commercial vehicle.

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Policies usually include collision and damage coverage as well as coverage for property and personal damage to others.

Request a Quote from Parkwest Insurance. It's free, simple, fast and imposes no obligations upon you.

Directors and Officers (D&O)

The directors and officers of large corporations and non-profit organizations always face the risk of lawsuits being brought against them.

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Directors and Officers Liability Insurance is also known as D&O is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, to cover damages or defense costs in the event they suffer such losses as a result of a lawsuit for alleged wrongful acts while acting in their capacity as directors and officers for the organization.

Directors and Officers are fiduciaries of the corporation they serve and therefore, carry with them a host of legal obligations that can result in loss exposures for corporate wrongdoing. They can be held personally and financially liable for actual or alleged breach of duty in the course of managing the affairs of a corporation and ensuring its compliance with the numerous laws and regulations that govern its operation.

Restaurant Liability

The most important fundamental coverage available to any insured is - Liability. Restaurant/Bar liability insurance provides coverage that protects against, bodily injury, property damage or personal injury claims made by someone else.

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What about all the other hazardous elements of your operation? There are many different things that your general liability insurance will protect you from, and each policy is different so it is very important that you have the right restaurant/bar liability coverage. If you serve alcoholic beverages, provide delivery service, or utilize bouncers you should look into the following coverages. While trying to best serve your customers do not dismiss the hidden risks of providing these perks!

Auto Service Liability and Garage Keepers

Commercial Auto Liability coverage provides protection for any business-owned or leased commercial vehicle.

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Auto Service Liability and Garage Keepers is an insurance covering the legal liability of automobile dealers, garages, repair shops, and service stations for claims of bodily injury and property damage arising out of business operations. Damage to customers' vehicles is excluded from this coverage; however, garagekeepers coverage can be written as a part of the garage policy to cover that exposure.

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