Types of insurance for businesses
Small business insurance comes in many forms to protect business owners from certain exposures. Not all businesses need every kind of small business insurance, so it’s important to understand their functions to create an insurance plan that makes sense for you. Some of the most common forms of insurance for small business include:
Commercial Package Policy (CPP) Insurance?
We understand each policyholder's specific needs and address special issues in the operation of their businesses. With the underwriting flexibility of our carriers, we can offer both general liability and product liability coverage to your customers.
What is Commercial Package Policy Insurance?
These policies are for manufacturers, contractors, real estate lessors and the hospitality industry. In addition, you may offer coverage to any business that has potential package exposure.
What is included in a Commercial Package Policy (CPP)?
It typically includes both General Liability and Property coverage, but can also include a number of other types of coverage, such as Employment Practices Liability Insurance (EPLI), Boiler & Machinery, Cyber Liability and Inland Marine Insurance.
What is the difference between a CPP and a Business Owners Policy (BOP)?
A BOP bundles coverages designed for more common small to mid-sized risks. A CPP features coverage tailored to the specific risks and needs of an organization – most often large businesses, or small and mid-sized businesses with unique risks.
Can you write the Property or General Liability coverage separately?
We are willing to write Property on a monoline basis; however, we do not write General Liability separately. It is only offered through our CPP insurance product.
What does a CPP cover for Property?
Property coverage can be tailored to include Business Income, Tenant Improvement and Betterments, Ordinance or Law, Spoilage, Equipment Breakdown and more. We also offer property expansion forms that provide additional coverage enhancements. Contact your agent or an AmTrust representative for details regarding specific coverages and eligibility.
What is a Commercial Umbrella Policy?
Umbrella insurance picks up where your standard insurance coverage falls short. You can think of umbrella insurance less as a standalone insurance product and more as a way of providing your existing coverage an extra boost. With umbrella insurance, you can have additional liability limits to protect your business. It typically provides extra liability coverage for:
- Bodily injury
- Property damage
- Other types of litigation, such as libel and slander
Please note, we do not write umbrella coverage on a standalone basis. We would need to write the underlying CPP in order to offer an umbrella policy.
An EPLI policy applies to all employees of an insured business, including temporary, part-time, full-time, seasonal, volunteers and independent contract workers. Enhanced coverage protects the policyholder against both punitive damages and inappropriate third-party conduct.