Our Commercial Lines department brings the strength of an experienced insurance team to every account. The best interests of our clients are always our first priority. Our goal is to provide quality products and service. Discover the difference Asero Insurance Services can mean to your business. Below are just a few of the practice groups we specialize in.
Property-related losses could create significant financial hardship and disruption to business operations. Asero’s commercial insurance programs are designed to address the requirements and the risks inherent in today’s business world, as well as those that are specific to certain types of operations, locations and other special conditions for which customized coverage is required.
Commercial General Liability insurance is designed to protect property owners, businesses, professional and other commercial concerns from the costs associated with legal judgment and defense fees for claims involving property damages and/or bodily injuries caused to other organizations or individuals. The purchase of Commercial General Liability insurance is therefore, a risk-financing tool used to pay for the defense and indemnity for coverages of these losses.
Employment Practices Liability
As employment related lawsuits increase, it is vital for employers to protect themselves against the four most common exposures.
•Wage & Hour
The construction industry by nature can be risky for all parties involved. Because of these risks, contractors must be able to assure project owners that their obligations will be fully met. This is done through bonding. Bonds are a unique form of credit that guarantees the pre-qualification, performance and credit-worthiness of a contractor at a cost lower than the rates associated with typical lending institutions. Asero’s bond professionals will research and recommend the best approach to securing a bond.
By law Workers’ Compensation is mandatory coverage in every state. The purpose of Workers’ Compensation is to provide income continuation and medical benefits for employees who are unable to work after being injured on the job.
Our job is to understand your operation and the associated class codes. Once we have determined that all class codes are correct, Asero will design the most cost-effective program that meets your company’s objectives.
After policy inception our focus is controlling claims. Our in-house Risk Manager will work with you and your carrier to develop a safety plan based on your inherent and hidden risk. Our in-house Workers’ Comp Claims Manager will negotiate reserves on open claims and make certain that any open claims are closed before annual Unit Stat filing. Furthermore, your account team will help manage your annual payroll estimates in an effort to reduce any additional premium at audit.
Directors & Officers
Whether your business is public or private, for profit or not-for-profit, your company faces potential claims from employees, clients, competitors, creditors and regulatory agencies. The financial effects of simply defending these claims can cripple an organization.
Our Directors’ and Officers’ Liability team specializes in private, emerging, and public companies. Our insurance professionals will work with your company to conduct an evaluation of your limits, conduct coverage and form comparison, access the entire D&O marketplace, provide a complete premium analysis and assist you through the claim process.
Professional Liability (E&O)
Professional Liability Insurance is designed to protect professionals against liability incurred as a result of errors and omissions in performing professional services. It is designed to cover financial losses rather than liability for bodily injury (BI) and property damage (PD). It is required for professionals who have expertise in a specific area because general liability insurance policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice or misrepresentation.
Asero offers several professional liability insurance options for your business and tailored to your profession.
An OCIP (Owner Controlled Insurance Program) is a centrally procured and managed insurance and risk control program implemented for a single construction project or a series of construction projects. Rather than each contractor providing its own insurance and passing this cost to the owner through the construction contract, the owner of the project purchases certain lines of insurance (such as general liability, excess liability, and workers compensation) to cover most of the contractors on a job site. A CCIP (Contractor Controlled Insurance Program) is another single solution option projects.
We understand that not all projects are the same and our team of insurance experts will partner with you at beginning stages of construction to design a customized insurance and risk control program.
Builder’s risk insurance is a special type of property insurance designed to cover property damage during the course of construction. There is no single standard builders risk form; most builders’ risk policies are written on inland marine (rather than commercial property) forms.
Coverage is usually written on an all risks basis and typically applies not only to property at the construction site, but also to property at off-site storage locations and in transit. Builder’s risk insurance can be written on either a completed value or a reporting form basis; in either case, the estimated completed value of the project is used as the limit of insurance.
We offer broad, flexible coverage options to meet the special insurance needs of even the largest residential or commercial construction projects. At Asero, we have the industry experience to analyze and recommend the appropriate comprehensive builder’s risk insurance for your specific construction project.