CORY WASHINGTON & CO.

CORY WASHINGTON & CO.CORY WASHINGTON & CO.CORY WASHINGTON & CO.

CORY WASHINGTON & CO.

CORY WASHINGTON & CO.CORY WASHINGTON & CO.CORY WASHINGTON & CO.
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    • Home
    • Business Coverages
    • Industries We Serve
    • Private Client Services
    • Life & Health
    • Supplemental Applications
    • Client Login
    • Instant Business Coverage
    • Instant Allied Health
    • Instant Bonds
    • Instant Special Event Ins
    • Instant Flood Insurance
    • Meet Valor
    • Team
    • Service
    • Privacy Policy
    • Terms Of Use
    • Terms & Conditions
    • Rewards
  • Home
  • Business Coverages
  • Industries We Serve
  • Private Client Services
  • Life & Health
  • Supplemental Applications
  • Client Login
  • Instant Business Coverage
  • Instant Allied Health
  • Instant Bonds
  • Instant Special Event Ins
  • Instant Flood Insurance
  • Meet Valor
  • Team
  • Service
  • Privacy Policy
  • Terms Of Use
  • Terms & Conditions
  • Rewards

Type of Business Insurance Coverages

General Liability

What It’s Designed For
General Liability Insurance is designed to help protect businesses against common third-party claims, including injuries to visitors, damage to customer property, or allegations of harm caused by advertising. For example, if a client slips on a wet floor in your office or a contractor accidentally damages a client’s building, general liability is the policy intended to respond. It acts as a safeguard against everyday risks that nearly all businesses face.


Why It Matters
It is often the foundation of commercial insurance programs and may be required by landlords, lenders, and business partners before contracts can move forward.

Professional Liability

What It’s Designed For
Professional Liability (Errors & Omissions) is designed for businesses that provide services, advice, or expertise. It helps address claims that a professional’s work contained errors, omissions, or negligence that caused a client financial harm. For instance, if a consultant provides incorrect advice that results in a client’s loss, or a technology firm’s coding error causes downtime, this coverage is intended to respond.


Why It Matters
Clients and partners expect accountability, and many industries require E&O coverage to secure contracts or maintain licenses.

Business Owners Policy

What It’s Designed For
A Business Owners Policy combines general liability, commercial property, and often business interruption coverage into one package. It is designed for small to mid-sized businesses that want broad protection without piecing together multiple policies. For example, it can respond to a customer injury claim in a retail shop while also protecting the building and inventory from fire or burglary.


Why It Matters
It offers broad protection in a cost-effective package, simplifying insurance management for growing businesses.

Workers Compensation

What It’s Designed For
Workers Compensation is designed to provide benefits for employees who suffer job-related injuries or illnesses. This can include covering medical expenses, lost wages, rehabilitation, and death benefits. For example, if an employee injures their back lifting equipment, this coverage is intended to provide financial support for treatment and recovery while protecting the employer from certain lawsuits.


Why It Matters
Required in most states, it helps protect both employees and employers while ensuring compliance with state regulations.

Commercial Property

What It’s Designed For
Commercial Property Insurance is designed to help protect physical assets such as buildings, equipment, inventory, and business personal property. It responds to events like fire, burglary, or some weather-related damage. For example, if a storm damages a warehouse roof or a burglary results in stolen equipment, this policy is intended to help minimize financial loss.


Why It Matters
A business’s property is often its largest investment—this coverage helps safeguard day-to-day operations and long-term stability.

Financial Lines

Directors & Officers (D&O) Liability -


What It’s Designed For
Directors & Officers Liability Insurance is designed to help protect the personal assets of company leaders and executives if they are sued for decisions made in their roles. Claims may allege mismanagement, breach of fiduciary duty, or failure to comply with regulations. For example, shareholders could bring a lawsuit against a board of directors claiming financial mismanagement.


Why It Matters
Even well-intentioned business decisions can spark lawsuits. D&O coverage helps businesses attract and retain strong leadership by offering peace of mind that personal wealth is not automatically at risk from organizational decisions.

 

Employment Practices Liability (EPLI) - 


What It’s Designed For
Employment Practices Liability Insurance is designed to help businesses respond to claims brought by employees, applicants, or even third parties regarding workplace practices. Allegations may include wrongful termination, discrimination, harassment, or retaliation. For example, a former employee might claim they were fired for discriminatory reasons.


Why It Matters
Workplace disputes are one of the most common sources of lawsuits against employers. EPLI coverage helps businesses manage legal defense costs and reputational risk while supporting fair employment practices.


Crime Insurance - 


What It’s Designed For
Crime Insurance is designed to help protect businesses against financial losses caused by theft, fraud, or dishonesty. Coverage may apply to acts committed by employees, vendors, or outside parties. For example, it may respond if an employee embezzles company funds or if a third party forges company checks.


Why It Matters
Fraud and theft can have devastating financial impacts, especially for small and mid-sized businesses. Crime Insurance helps safeguard assets and provides resources to recover after a loss.

 

Fiduciary Liability - 


What It’s Designed For
Fiduciary Liability Insurance is designed to help protect companies and their decision-makers who oversee employee benefit plans, such as retirement or health plans. Claims may involve errors in plan administration, poor investment decisions, or alleged breaches of fiduciary duty. For instance, if employees allege their retirement funds were mismanaged, fiduciary liability coverage is intended to respond.


Why It Matters
Plan administrators have a legal duty to act in the best interests of participants. Fiduciary Liability coverage helps protect the business and its leaders from costly lawsuits that can arise from plan mismanagement.

 

Kidnap, Ransom & Extortion - 


What It’s Designed For
Kidnap, Ransom & Extortion Insurance is designed to help businesses respond to threats involving personnel, assets, or intellectual property. It may provide access to crisis management teams, reimbursement of ransom payments, and related expenses. For example, if an executive traveling abroad is threatened or held for ransom, this coverage is intended to provide vital financial and logistical resources.


Why It Matters
Global businesses, high-profile executives, and organizations with sensitive information may face unique threats. This coverage offers peace of mind by preparing companies to manage extreme scenarios that could otherwise jeopardize safety and operations.


Cyber Insurance

What It’s Designed For
Cyber Insurance is designed to help businesses prepare for and respond to evolving digital risks. It may address events such as ransomware, data theft, system outages, or privacy breaches. For example, it can provide resources for forensic investigations, legal support, customer notification, and even ransom negotiations following a cyberattack.


Why It Matters
In today’s digital economy, a single cyber incident can disrupt operations, harm reputations, and create costly liabilities.

Umbrella / Excess Liability

What It’s Designed For
Umbrella and Excess Liability policies are designed to extend the limits of existing liability policies, such as general liability, auto, or employers’ liability. For instance, if a lawsuit settlement exceeds the limits of a general liability policy, the umbrella or excess policy is intended to provide the additional protection.


Why It Matters
They help safeguard businesses from large, catastrophic claims that exceed underlying limits.

Commercial Auto

What It’s Designed For
Commercial Auto Insurance is designed to help protect company-owned or business-used vehicles and the liability associated with operating them. It can include liability for accidents, coverage for damage to vehicles, and optional protections for employees using personal cars for business. For example, if a delivery driver is at fault in a collision, this policy is intended to respond.


Why It Matters
Any business using vehicles for deliveries, client visits, or transportation exposes itself to liability—this coverage helps manage that risk.

Builders Risk

What It’s Designed For
Builders Risk Insurance is designed to help protect structures under construction or renovation, as well as related materials, supplies, and equipment. It responds to risks like fire, burglary, vandalism, or certain weather events while the project is ongoing. For example, if a fire damages a partially completed building or materials are stolen from a site, this policy is intended to help.


Why It Matters
It helps owners, contractors, and developers manage financial risk while projects are underway, where losses could derail timelines and budgets.

Surety Bonds

What It’s Designed For
Surety Bonds are designed as financial guarantees between three parties: the business (principal), the client or government entity (obligee), and the surety company. They ensure contractual or regulatory obligations are met. For instance, a contractor’s bond may guarantee project completion according to contract terms.


Why It Matters
They are often required for licensing, construction projects, and compliance, giving clients and regulators confidence in the business’s commitments.

Disclaimer:

All insurance descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or insurance advice. The information presented is general in nature and does not guarantee the availability, terms, conditions, or scope of any insurance coverage. Actual coverage is determined solely by the specific policy language issued by the insurer and remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds coverage, or alters any existing policy. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please consult directly with a licensed insurance professional at Cory Washington & Co. LLC or another qualified insurance professional, and always review your policy documents in full.

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