Commercial Insurance

Workman’s Compensation, General Liability, Commercial Property and Automotive insurance products with access to all the top rated carriers in the country.

EPLI Coverage

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Cyber Liability

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Workers Compensation

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Protect yourself and your business from a variety of liability exposures with commercial insurance. We work with a large number of carriers and can provide access to all the top rated carriers in the country.

Coverage You can Count On

Commercial business insurance is coverage for businesses and corporations, generally designed to cover the business, its employees and ownership. Since there are so many types of businesses with different needs and situations, commercial insurance can come in many shapes, sizes and colors.

Commercial Property Insurance

Coverage for businesses and other organizations that insures against damage to their buildings and contents due to a covered cause of loss.

General Liability Insurance

General liability insurance protects owners and operators of a business from a variety of liability exposures.

Industry Special Circumstances Insurance

Malpractice, Bonds, Surety Bonds, Business Owners Policy (BOP), Commercial Package, Directors & Office (D&O), Errors & Omissions (E&O), Professional Liability, Commercial Flood, Inland Marine.

Commercial Auto Insurance

Liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business, including businesses that use a car to run errands, carry tools or transport clients.

Employment Practices Liability Insurance

Protection against and management of claims regarding employee lawsuits and employee wrong doing.

Why is EPLI Coverage Important?

Employee lawsuits can be expensive. According to HR Morning, a news site for HR Professionals, the average EPLI lawsuit settlement is roughly $125,000 and the median judgement against employers is about $200,000. 25% of judgements are even more than $500,000. Those costs don’t include additional expenses, such as lost productivity or reputational damage, and often it can be hard to defend yourself in an employee lawsuit. You don’t want a potential million-dollar decision to be based on abstract testimony from both the employer and employee. That’s why its smart to have EPLI coverage to provide the funds to handle your defense and settle lawsuits quickly.

Protected Claims 

Laws like the Americans with Disabilities Act and the Family Medical Leave Act outline standards employers have to meet. When employers break these rules, even without meaning to, they may face a lawsuit. Employment practices coverage helps businesses handle the cost of these suits.

Wrongful Termination

Ending of an employee’s contract which results in the breaching of one or more terms of the contract of employment.

Workplace Discrimination

Unfavorable treatment due to national origin, race, ethnicity and/or disability.

Breach of Employment Contract

Violation of one or more terms of an employee’s contract.

Sexual Harassment

Discrimination based on a person’s sex or unwanted sexual advancements or comments in the work environment.

Wrongful Discipline

Unjustified punishment due to misconduct performed by the employee.

Emotional or Mental Distress

Employer creates an event or environment which causes emotional or mental strain on the employee.

Worker’s Compensation Insurance

For a new or start‐up business or even a current business owner, it is important to know that state law requires you to have workers compensation insurance coverage to protect the well-being of your workers and your business.

Cyber Liability – CyberPro Protects Your Business

CyberPro is a unique cutting edge cyber liability solution, covering network business interruption, ecommerce trading exposures, crime and protection from media and intellectual property risks. CyberPro also includes loss control education and training; and full post breach crisis management assistance. This program is suitable for nearly all clients with independent insuring agreements so that a policyholder can “pick and choose” their coverage according to requirements.

Loss Control, Education and Training

Up to date advice and information helping policyholders avoid or minimize breach events. Should such events occur, events are managed appropriately and effectively.

On-Line Learning and Resources

The Cyberscout learning management system (LMS) is an online training program that keeps you informed of the latest legal and regulatory developments affecting your business.

Breach Response

The Cyberscout team helps policyholders react swiftly and comprehensively to a data privacy breach.  This team of experts assists with outlining a clear response strategy and supports policyholders following a data loss incident.

Legal Services

If legal advice is required, a best course of action is provided on how to comply with applicable breach notice laws and other credit card related regulations.

Security and Privacy Liability

Coverage for an insured’s failure to protect private or confidential information along with associated legal liability.

Network Interruption and Recovery

Provides coverage for a company’s own losses and rectification costs from network interruption or following a security breach.

Ponemon Institute – Cost of Data Breach Study

The 2017 Cost of Data Breach Study from the Ponemon Institute, sponsored by IBM, puts the global average cost at $3.6 million, or $141 per data record. It’s also worth noting that the average cost of a data breach in the United States is much higher at $7.3 million.

The size of the breach is also, obviously an important factor in determining the overall cost. For a breach that results in less than 10,000 records being compromised, the average total cost is $1.9 million, but for 50,000 or more that rises to $6.3 million.

As the General Data Protection Regulations (GDPR) comes into effect in May, the cost of non-compliance could be about to skyrocket. It’s also worth remembering the potential for reputational damage to cause a downswing in any company’s fortunes.

Breaches will happen, but how you act to mitigate them has a very real impact on the bottom line. While the initial data breach is certain to cost money to fix, things get a great deal more expensive when they’re mishandled.

CONTACT US

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2931 Plummer Cove Rd.

Jacksonville FL, 32223

Applied Business Solutions has an experienced team committed to answering your questions and solving your business challenges. Please provide us your contact information and you will be introduced to one of our representatives.