General liability policies typically address claims that arise out of an insured person’s or business's liability for injuries and/or property damage caused by multiple factors:
- Ownership of property
- Manufacturing operations
- Contracting operations
- Sale or distribution of products
- Operation of machinery
Garage liability coverage is tailored for businesses specializing in vehicle sales and repairs. It covers auto salesrooms, used-car lots, service stations and repair garages for bodily injury and property damage.
Premiums are based on the payroll of the business.
Fiduciary liability policies (also known as Pension Trust Liability Insurance) protect against losses for any alleged wrongful act by the person or business that is insured or any person for whom the insured person or business is responsible and covers any defense costs connected with covered claims.
The policy, written on a claims-made form, covers these wrongful acts:
- Any violation of the responsibilities, obligations or duties imposed on fiduciaries by the Employee Retirement Income Security Act (ERISA)
- Acts, errors and omissions in the plan administrator’s performance of duties