Hiscox small business insurance Arizona
general liability insurance

general liability insurance

Starting and running a business takes courage. Hiscox, encourage courage by providing insurance to small businesses that is tailored to your industry, so you get everything you need and nothing you don’t.
Here’s some of the business insurance Hiscox provides in Arizona, Wherever you’re In Phoenix, Tucson, mesa, Tempe, Oro valley, Scottsdale, Glendale, Green valley, AZ, Hiscox small Biz insurance will provide the right coverage for you.


General Liability.

Protects your business from a third party’s claims of bodily injury, property damage, and personal injury like slander and libel.

What is Commercial General Liability Insurance?
General liability insurance protects your business from another person or business’s claims of bodily injury, associated medical costs and damage to property. Some examples of what could be covered are below. View our quote examples to understand how much general liability insurance costs.
Why do I need General Liability Insurance?
We understand the risks your company faces and the importance of knowing your business is properly protected. Having general liability insurance coverage protects your business against third-party claims of bodily injury or damage to someone else’s property. However, it does not protect your own personal property. This section explains what our business general liability insurance offers. You should consider general liability insurance coverage, also called commercial general liability insurance, if you or your employees:.
• Interact with clients face to face – If you visit a client’s place of work, or clients visit yours.
• Have access to a client’s equipment – For example, IT professionals should be covered against potential claims with IT business liability insurance.
• Represent your client’s business.
• Use third-party locations for any business related activities – For example, architects should make sure that they’re covered with architects business liability insurance.
• Are required to have general liability insurance before entering into a contract.
What does General Liability Insurance cover?
What is covered?
• Bodily Injury.
• Damage to third party property.
• Personal injury.
• Advertising injury.
• Electronic data liability.
• Medical expenses.
• Defense costs.
• Actions of your full-time employees and temporary staff.
• Supplemental payments.

Professional Liability.

Hiscox small business insurance Arizona

Hiscox small business insurance Arizona



Also known as errors and omissions, or E&O, coverage, this protects you from claims of negligence during the course of conducting business. You’re protected even if you haven’t made a mistake.
What is Professional Liability Insurance?
Professional liability insurance, also called errors and omissions insurance (E & O insurance) or indemnity insurance, protects your business if you are sued for negligently performing your services, even if you haven’t made a mistake. View our quote examples to understand how much professional liability insurance costs. Some examples of what could be covered are below.

Why do I need Professional Liability Insurance?

Professional liability insurance coverage gives your business protection from the risks you face in delivering your professional services. The section below discusses everything our professional liability insurance coverage offers since we want you to feel secure about what your policy does and doesn’t cover. You should seriously consider professional liability insurance coverage if your business:.
• Provides a professional service.
• Regularly gives advice to clients.
• Is requested by a client to have professional liability insurance to complete a contract.
What does Professional Liability Insurance cover?
What is covered?
• Alleged or actual negligence.
• Defense costs.
• Personal injury (e.g., libel or slander).
• Copyright infringement.
• Worldwide coverage.
• Temporary staff and independent contractors.
• Claims arising from services provided in the past.
• Claims and damages.

What is not covered?
• Bodily injury or property damage.
• Fraudulent acts.
• Employment matters.
• False advertising.
• Patents and trade secrets.
• Personally identifiable information.
• Other services.

Errors and Omissions.

Hiscox small business insurance Arizona

Hiscox small business insurance Arizona

Provides protection for your professional services business from claims of negligence or failing to perform your professional duties.
What is Errors and Omissions Insurance?
If you have a professional services business, having errors and omissions insurance coverage can be an integral part of protecting your business. Accusations of negligence or the failure to perform your professional services are things that any professional services business can be sued for, even if it hasn’t made a mistake. View our quote examples to understand how much errors and omissions insurance costs.
Why do I need Errors and Omissions Insurance?
Hiscox errors and omissions insurance coverage, also known as professional liability insurance, provides protection for your professional services business from claims of negligence or failure to perform your professional duties. You should seriously consider errors and omissions coverage if your business:.
• Is required by its clients to have E&O insurance.
• Provides a professional service.
• Regularly gives advice.
What does Errors and Omissions Insurance cover?
What is covered?
• Defense costs.
• Alleged or actual negligence.
• Temporary staff and independent contractors.
• Claims arising from services provided in the past.
• Claims and damages.
• Personal injury (e.g., libel or slander).
• Copyright infringement.

What is not covered?
• Employment matters.
• Fraudulent acts.
• Bodily injury or property damage.
• Personally identifiable information.
• Patents and trade secrets.
• False advertising.
• Other services.

Business Owners Policy.

general liability insurance

general liability insurance

Includes general liability insurance plus coverage for your business property, including furniture, equipment, tools, and other assets you need to conduct your business.
What is a Business Owners Policy?
A Business Owners Policy (BOP) is an enhanced insurance policy that combines general liability insurance and property insurance.
Many small business owners mistakenly believe that if they have general liability insurance their own losses are covered, as well as the losses of their customers. But a general liability policy does not protect you when it comes to your OWN property. If you want to protect your own property, consider buying a Business Owners Policy (BOP).
BOP Protects Against Fire (PDF).

What does a Business Owners Policy cover?
• General liability insurance which protects your business from another person or business’ claims of bodily injury, associated medical costs and damage to their property.
• Property liability insurance – your business furniture and equipment at up to five different office locations, which includes accidental damage.
You should consider a Business Owners Policy if you:.
• Need general liability insurance coverage.
• Have business equipment such as computers, printers and furniture.
• Own the building at which you work and need to insure the property.
• Own and work with large amounts of data on a regular basis.
• Have employees who could act dishonestly or steal clients’ property.

Customize your Business Owner Policy.
Depending upon the specific needs of your business, you can customize your BOP policy by choosing options such as:.
• Office insurance for fire and business interruption.
• Electronic data loss insurance.
• Hired or non-owned vehicle liability insurance.
• Commercial crime insurance to cover the dishonesty of your employees.
• Terrorism.
What a BOP does NOT cover:.
• Certain claims, including those arising from professional services you perform.
• Client damages if you provide inaccurate or incomplete advice to a client.
To get professional services you can choose to buy a professional liability insurance policy in addition to a Business Owners Policy.

Workers Compensation.

Protects you from the costs associated with an employee’s work-related illness or injury. Penalties and fines may be assessed on employers who do not have workers comp insurance.

What is Workers Compensation Insurance?
Workers compensation insurance protects your employees and your business from work-related accidents, illnesses, and even death. Nearly every state requires that employers have insurance to cover medical costs and lost wages for workers who are injured or become ill on the job. If you don’t carry workers compensation insurance, you could be liable for these costs, and be subject to fines or penalties by the state.
Workplace injuries happen even in the safest of workspaces. Even if your employee has health insurance, you are responsible for their medical costs if they suffer a job-related injury or illness. In addition, the worker is entitled to a percentage of their regular wages during the time that they are unable to work due to their injury or illness. These costs are covered by workers compensation insurance. If you don’t have insurance, you will have to pay these costs out of pocket.
You need Workers Comp Insurance if your business:.
• Is ready to hire your first employee.
• Has one or more full time employees.
• Has one or more part-time employees (in most states).

How does Workers Compensation work?
The cost of workers’ comp insurance is paid by the employer. It is simply a cost associated with having one or more employees. Unlike other kinds of insurance for employees, like health insurance, the cost of workers’ compensation is not shared between the employer and the employee.
While the employer must bear the cost of workers’ compensation insurance, consider what would happen if your company was not insured. You would likely still be required, under state law, to cover your employee’s medical costs and lost wages in the event of a work-related accident, illness or death. In addition, you would be subject to fines or penalties from the state if you were not insured.

Cyber Security.

general liability

general liability

Cyber security insurance can protect your business from cyber-attacks by providing the tools necessary to prevent an attack before it occurs, detect an attack early, and minimize the damage. What is Cyber Security Insurance?
Cyber security insurance protects businesses against targeted attacks and even the occasional misplaced laptop containing confidential material. If your company has employees or handles sensitive client information, you are vulnerable. The best cyber insurance strategy takes a three-pronged approach: prevent, detect and mitigate risk. This includes educating all levels of the organization about the importance of cyber security, facilitating ongoing monitoring of critical networks, reviewing response plans for emerging threats, and insuring against financial risk with a stand-alone cyber policy.
Today’s business technology opens up a world of possibilities but also raises some cyber protection concerns. Threats of data breaches and computer hacks are real for all businesses, yet according to the 2018 Hiscox Cyber Readiness Report ™, seven in ten businesses aren’t prepared for a cyber attack. While big firms incur the highest costs in the aggregate, the financial impact of cyber-attacks is disproportionately greater for small businesses.
With hackers becoming bolder and cyber attacks getting bigger and more frequent every year, business owners must take control of their computer security and protect themselves. Cyber insurance provides small businesses the coverage they need to protect one of their most valuable assets– data.

You need cyber insurance if your business:.

• Accepts credit cards or other digital payment types.
• Uses computers and mobile devices.
• Stores confidential customer information.
• Keeps medical or financial data.
What could Cyber Security Insurance cover?
A cyber insurance policy is designed to cover privacy, data, and network exposures, to offer a computer security solution and give you peace of mind. Since cyber security is one of the fastest growing and changing risks in the world today, both cyber novices and smart and tech-savvy business owners can feel empowered with a policy that protects against hacks, data breaches, or other types of cyber security events.
The list of regulations and statutes continues to expand regarding the use and protection of cyber security information, as well as notification requirements in the event of a breach. As cyber exposures continue evolving, so will your need to ensure that your business is protected if a cyber attack occurs.
How could Cyber Insurance help after a cyber attack?
Immediate support:.
• Data breach response: This covers your cost of computer forensics, the notification of those affected, call center support for those affected, identity protection services, and crisis management and public relations support.
• Cyber extortion: This covers the cost of expert assistance and ransom payment.
• Data recovery: This covers the cost to replace, restore, repair, or regain access to your data after a data breach, security failure or extortion threat.
Next few months:.
• Business interruption: This is insurance for losses from total or partial interruption of your business as a result of a data breach, security failure or extortion threat.
• Dependent business interruption: This is insurance for losses sustained due to the total or partial interruption of your business as a result of a data breach, security failure or extortion threat at an outsourced business process or IT services supplier which you depend on to operate your business.
• System failure business interruption: This is insurance for losses sustained due to the total or partial interruption of your business as a result of any unintentional or unplanned outage of your computer system not caused by a data breach or security failure.
• Cyber crime: This is insurance for the loss of money from your financial account due to fraudulent instruction by a third party.
• Cyber deception: This is insurance for the loss of money as a result of the a social engineering or phishing attack against you which results in your voluntary transfer of money to an unintended third party.
• Privacy and security liability: This is insurance for claims made against you that typically arise from your failure to protect sensitive information, including subsequent actions by a regulator.
• Media liability: This is insurance for claims made against you that arise from the content of your website, social media and other promotional material.

Sample claims scenarios:.
Cyber insurance offers broad coverage designed to protect businesses like yours. Here are some examples of what could go wrong and how it could be covered:.
• Stolen laptop: A thief steals your laptop, containing sensitive client information from your vehicle. A cyber policy could cover the costs you incur to notify your clients of the data breach, including identity protection and credit monitoring services and legal costs.
• Phishing expedition: You or one of your employees clicks on a link from an email that came from what appeared to be a trusted source. The message was from an experienced hacker and contains malware. Your company’s data is locked and held for ransom. A cyber policy could cover the cost of expert assistance and payment of a ransom.
• Data recovery: Your Company’s server was compromised by a former employee. You have lost all access to your company’s data and the data could potentially be destroyed. A cyber insurance policy could protect your business and provide coverage for the costs to replace, restore, repair, or regain access to your data following a breach.

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