General Liability Insurance, commonly known as GL coverage, protects an insured from any legal fees that may result from “bodily injury”, “property damage”, and “personal/advertising injury”. Some of the exposure examples include an accident that arose from a poorly maintained field by an organization or products being sold at an event by the insured.
General Liability Insurance is a staple among the coverages Gagliardi Insurance offers, it is the most commonly purchased policy and is quite often a necessity to purchase the other insurance products Gagliardi provides.
An example of a General Liability Claim:
Jimmy, a parent of Tommy, who plays for the Yeti’s youth football team, was watching his son’s game, which was being covered by Gagliardi Insurance. While Jimmy was trying to walk down a set of bleachers, he slipped a snow pile that had accumulated during a snowstorm that occurred prior to the game, consequently breaking his arm. The Yeti Football Organization did not salt the bleachers nor they block them off. Jimmy then filed a lawsuit for negligence against the organization being covered by the Gagliardi GL policy.
Follow our blog for more examples of General Liability insurance and how it pays off to have it!
The Gagliardi Insurance Accident Medical policy offers coverage for the cost of an accidental injury during an event that is being covered under our policy.
Inclusion Example of Accident Medical Coverage:
Tommy tore his ACL during a football game on his team that is insured by Gagliardi Insurance.
Exclusion Example of Accident Medical Coverage:
Tommy is walking to school, slips on a sheet of ice and tears his ACL. Tommy is not participating in an event for the team that is insured by Gagliardi Insurance, therefore, Tommy is not covered under their Accident Medical Policy.
Accident Medical coverage serves as secondary insurance if the insured already purchased primary medical coverage.
An example of an Accident Medical Claim:
Tommy is the quarterback for the Yeti’s youth football team. As he receives the ball from the snapper, the opposing team blitzes and sacks Tommy. During the play, Tommy falls down and breaks a rib. The Yeti’s accident medical insurance provided by Gagliardi would cover his medical expenses beyond what his regular health insurance covers.
Directors and Officers
Director and Officers, commonly known as D&O, covers potential lawsuits against the board of the organization under certain circumstances. These circumstances are; if an American citizen’s rights under federal, state, and constitutional law have been violated they may proceed with a lawsuit.
Legal fees still accrue regardless of how the case turns out.
An Example of a Directors and Officers Claim:
The Yeti Football team Board of Directors’, knowing full well that a snowstorm is about to hit the region, decides not to cancel the game and has the team board a bus to travel to the game. A couple miles into the trip, the bus slides on a patch of black ice and the bus crashes causing Tommy to sprain his wrist. Jimmy, Tommy’s dad, sues the board for their decision to play the game, knowing there was going to be a snow storm.
There are more examples when Directors and Officers insurance will come in handy! Follow our blog for more examples!
Fidelity bond protects the organization against financial loss due to theft from one of the five board members. Fidelity Bonds protect the organization from the five named board members if the organization suffers a financial loss.
An example of a Fidelity Bond Claim:
Matt is on the board of the Yeti Football Organization as the treasurer. He is charging the participants and pocketing a large portion of the administrative costs and spending the money on personal affairs. The Yeti’s fidelity bond saved the organization from suffering a detrimental financial loss.
Catastrophic Medical, commonly known as Cat Med, is excess medical coverage that “kicks in” once medical expenses exceed the accident medical coverage limit.
Accidents are never meant to happen, that is why they are called accidents. Medical expenses can accrue and can cause organization’s to fold due to the financial loss.
Example of Catastrophic Medical Claim:
Tommy is playing in the football game and somehow gets on the bottom of the pile, he goes unconscious and a medical helicopter had to come and take him to the nearest hospital.
Excess Liability provides additional limits to your insurance. Excess Liability coverage “kicks in” once expenses related to a General Liability claim exceeds the limits of the General Liability Policy.
Legal fees can accrue over time and then the organization suffers.
*Disclaimer: certain cities require higher limits of insurance which would make excess liability a necessary purchase.