Q: Do I need Workers Compensation Insurance?

A: Accidents happen even when an employer has taken every possible measure to create a safe workplace. Workers Compensation protects employers from lawsuits resulting from workplace accidents. It covers employees whether they’re hurt on the workplace premises or elsewhere. It will also pay out medical payments and lost income to injured employees regardless of fault. Workers Compensation Insurance is a requirement in Illinois.

Q: What does a Business Owners Policy (BOP) cover?

A: BOPs cover property insurance for building’s and contents owned by the company.

• Business interruption insurance, which covers the loss of income caused by fire or other disasters.
• Liability protection covers the company’s legal responsibility for any harm it may cause others.

Q: What is Employment Practices Liability (EPLI) Coverage?

A: EPLI provides coverage for lawsuits brought by employees against the company including claims of sexual harassment, discrimination, wrongful termination, breach of contract and others. The policy reimburses legal fees whether your company wins or loses the suit. It also reimburses judgments or settlements.

Q: Do I need Professional Liability Insurance?

A: Professionals that operate their own businesses need this coverage in addition to an in-home business or business owners policy. This protects them from financial losses from lawsuits filed against them by their clients.

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