Business Insurance Types Explained (GL, E&O, Cyber, Workers' Comp)
Most small businesses are under-insured on the policies that matter and over-insured on the ones that don't.
Picking insurance for a small business is risk-management, not product shopping. The right mix depends on your industry, contracts you sign, and what you can afford to lose out-of-pocket.
Key terms
- General Liability (GL)
- Bodily injury and property damage to third parties. Required by most commercial leases.
- Professional Liability / E&O
- Claims of negligence in your professional services. Required for licensed professions.
- Cyber Liability
- Data breach response, ransomware, business interruption from cyber events.
- Workers' Compensation
- Employee injury coverage. Required in nearly every state once you have W-2 employees.
Frequently Asked Questions
How PF Consulting Firm can help
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