Liability Insurance

1. 1. Claim Settlement or Judgment: Accidents do happen, even for companies that stress and practice safety standards for employees, customers, vendors, or anyone who may have interactions with that business.  Say for instance you own a retail store and pride yourself on the cleanliness of your establishment.  An employee is mopping in an aisle and before the floor has a chance to dry, a customer slips and falls, resulting in severe head trauma.

       

   2. A claim is filed and depending on a number of factors relating to that head injury could be for an amount of a million dollars or more. If you have an adequate limit amount for your GL protection it will be covered.  In this example, it’s a legitimate action for an accidental bad injury, that’s what insurance is for.

1. Defense Against a Fraudulent Claim:  Unfortunately, fraudulent claims for fake injuries occur more often than they should. A man pretending to be a potential customer walks into an accounting office and intentionally trips himself, falling to the floor.  As he continues his performance of writhing pain an ambulance is called. Shortly thereafter a claim is filed with the firm’s insurer in the amount of a whopping 1.5 million dollars for a spinal injury.

    

   Your insurance company proceeds with an investigation into the action and reviews the claimant’s medical records which show no sign spinal issues.  They also request the claimant to see their doctors and resulting records verify no signs of spinal injury.  The insurer also reveals the fact the alleged injured party has 2 other personal injury cases pending in different states.  Unknown to the claimant, the accounting office has interior security cameras which clearly show him intentionally tripping himself.

   The claim is suddenly withdrawn and the accounting firm owner breathes a sigh of relief as the thousand-pound weight is lifted from his shoulders.  Without this insurance, the business owner would have had to pay up to tens of thousands of dollars in attorney fees for a defense.

The previous examples are for a retail store and a professional office but are just as important for virtually any going concern such as restaurant owners, contractors, building owners, landscapers, plumbers, electricians, beauty salons, medical offices, veterinarians, carpenters, painters, excavators, grocery stores, bakeries and so many more. 

Think of it this way.  GL helps to safeguard against costly settlements for bodily injury and/or property damage caused by the negligence of your company. Virtually every type of concern has exposure whether its an office or retail setting, or businesses that work onsite at residential homes, commercial properties, or municipal projects.  It also protects the insured by mounting a defense, especially important in fraudulent or frivolous lawsuit actions.

We service clients for GL policies in the Albany, Schenectady, Troy, Latham, Clifton Park, Saratoga Springs, Cohoes, Watervliet areas as well as the entire state of New York. Each one of our clients is given a dedicated expert to work together to proficiently address all your concerns. Whether you are simply looking for the best general liability insurance quote in New York or want a thorough consultation for your commercial policy needs, we are here to help.