Property & Casualty
Commercial
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Businesses & Corporations
Commercial insurance is liability coverage tailored for businesses and corporations. It is designed to shield the company, its workforce, and other stakeholders from financial loss arising from unprecedented events while protecting your assets. Property damage, vandalism, theft, employee injuries, and lawsuits are significant risks to business continuity. A commercially insured business will be protected from unplanned events if the insurance policy is effective.
We design your commercial insurance package precisely according to the needs of your business. While you can choose from many forms of commercial coverage, the nature of your business should be the first factor you consider when seeking an insurance policy. With a suitable insurance policy, your company will be better positioned to weather economic shocks and other risks that could threaten its continuity. Besides protecting their financial interests, business owners can explore insurance policies to safeguard their reputation.
- Office Buildings
- Retail Spaces
- Industrial Properties
- Hotels
- Restaurants
- Medical Buildings
- Airbnb's
- Condominiums
- Others
Insure the permanent and/or private structure of your commercial property against damages caused by fire, hurricanes, earthquakes, among other risks.
Builder’s risk: Covers all risks or specific risks related to structures, building, or remodeling materials.
Content insurance, also known as personal property insurance, is a type of insurance that provides coverage for your belongings in case they are damaged, stolen, or destroyed. This coverage typically extends to items within your home, such as furniture, electronics, clothing, and other personal possessions. Content insurance helps you financially recover from losses due to events like fires, burglaries, or natural disasters. It’s an essential component of a comprehensive home insurance policy, offering peace of mind and protection for your belongings against unexpected events.
Commercial Flood Insurance helps protect your business from flood damage. This type of commercial insurance can safeguard your business’s physical location and the contents inside.
You may need this insurance as a separate policy because flood coverage is not usually a part of a commercial property insurance policy.
Commercial auto insurance helps your business cover the financial costs resulting from an auto accident if you or an employee is found at fault.
Protect your business cars, vehicles, and trucks.
Insures valuable property such as signs, valuable papers, installation floaters, receivable accounts, contractor equipment (machinery and heavy equipment), data processing systems (computers, printers), and transportation hazards (goods in motion or stored on land).
Fidelity insurance is designed to provide coverage to companies for losses of cash and/or objects susceptible to valuation caused by any dishonest act committed by the employees of the company itself.
Insures valuable property such as signs, valuable papers, installation floaters, receivable accounts, contractor equipment (machinery and heavy equipment), data processing systems (computers, printers), and transportation hazards (goods in motion or stored on land).
Protection against lawsuits or claims for bodily injury or property damage to others.
Director & Officer
If you have a board of directors helping run your company, they are at risk of lawsuits from many other interested parties. Directors & Officers Liability Insurance can protect your business and directors against lawsuits.
Error & Omissions
Specialized liability protection against losses not covered by traditional liability insurance. It protects you and your business from claims if a client sues for negligent acts, errors, or omissions committed during business activities that result in a financial loss.
Recovering from a cyber attack can be costly. Cyber insurance is one option that can help protect your business against losses resulting from a cyber attack.
Pollution Liability Insurance, also commonly referred to as environmental insurance, helps protect businesses from unexpected pollution exposures that may not be covered by standard casualty and property policies. It fills an important insurance coverage gap for contractors, as well as businesses in commercial real estate, financial institutions and many other industries.
Contaminated sites, whether on existing property or future building projects, can create losses and/or damages that might include claims for bodily injury, property damage and cleanup costs. Pollution Liability Insurance, including Contractor’s Pollution Liability, can help businesses mitigate these risks and address problems when they occur.
Pollution Liability Insurance also helps companies at a time when environmental concerns are driving global debate and influencing how business is conducted. The way a business manages environmental issues can affect its profitability and reputation.
We have access to the leading insurance companies in Puerto Rico with the best coverage for any risk related to environmental pollution. No matter your industry or business size, whether you are a contractor, consultant, facility owner or manager, environmental insurance coverage and services can help your business mitigate and safeguard against pollution related risks.
Convenient way to bundle your coverages into a single program. You can include these and other coverages! Easy to manage, your payments and claims.
- Structure
- Flood
- Auto
- Inland Marine
- Garage Keepers
- Commercial Liability
- Business Interruption
- Theft & Vandalism
- Dishonest Employee
- Professional Liability
- Cyber Securities
- Others
Coverage for Every Need
Diverse Insurance Solutions
We have access to a wide range of commercial lines, encompassing various sectors to meet the diverse needs of businesses. These commercial lines include but are not limited to:
Running a company can be challenging without the right business insurance. Most business owners require business interruption insurance, also known as business income insurance and contingent business interruption coverage. It can help replace income you lose if you cannot open temporarily after a covered loss, such as property damage.
Example coverage under a Business Interruptions Policy:
- Revenue you would normally make if your business was open.
- Mortgage, rent, and lease payments for the space your business operates from.
- Loan payments that you need to make during that time.
- Taxes, whether you pay them monthly or quarterly.
- Payroll for your employees.
- Relocation costs for moving to a new or temporary location because of physical damages.
- Extra expenses, for example, if you need to rent another space to run your business temporarily after a covered loss.
- Training costs for employees to learn how to use new machinery or equipment after a covered loss.
- Access to coverage against any loss or damages suffered by personally owned aircraft or aircraft under the custody of the policyholder, as well as the obligations for which the policyholder is found liable to third parties while conducting an activity with the aircraft.
- Among the basic coverages offered are hull insurance and civil liability insurance.
- Hull coverage provides protection for losses or physical damages suffered by the aircraft.
- Public Liability coverage guarantees compensation that may be enforceable against the policyholder for damages and/or injury to third persons and derived from the policyholder’s activity. It is divided into three categories:
- Liability derived from the airlines’ operations – These are normally the object of a transportation contract, that is, liability with respect to passengers, baggage, cargo, and/or mail transported on the airplane.
- Liability for damages caused to property or passengers outside the aircraft itself.
- Medical Expenses.
Request information about life insurance coverage for pilots.
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specialized insurance coverage
NON-TRADITIONAL INSURANCE
Captives are flexible insurance solutions for businesses. They operate, in all respects, like insurance companies that facilitate the financing of the retention of risks within a business group. In other words, they are a form of self-insurance funded through the company’s own capital.
Captive insurance companies are insurers created with the specific objective of financing risks derived from their parent or affiliated groups.
With over 50 years in the market, Captive insurers have clearly demonstrated their effectiveness as a financial instrument, experiencing a growth of 235% in just the last decade. The uses for Captives are diverse, ranging from traditional All-Risk programs to Liability coverage and even unconventional programs.
Flexibility is another major advantage of Captives, as it allows for the design of specific coverages for which the insurance market may not provide a response or has difficult access, especially in cases where risk rates are comparatively higher than the value of the risk itself.
The inherent flexibility and control within the captive insurance segment in risk management drive profitability and retain earnings, while creating value for policyholders and stakeholders, irrespective of market condition.
The team required to establish a captive insurer is structured according to the complexity of the risk and the company. We have access to the best professionals with comprehensive expertise in the field of captives.
These insurances are activated when the “parameters” established in the policy are met, and not only indemnify direct damages to the property but also direct or indirect economic losses. There are several differences between traditional property insurance and parametric insurance.
Some of the most prominent include:
- No physical damage to the insured properties is required.
- The parameters established in the contract need to be met (magnitude of the earthquake, wind speed, or millimeters of rainfall, among others).
- Acceptance of consequential losses (business interruption) without physical damage to the properties.
- Parameters are developed based on the client’s needs.
- No deductibles apply.
Types and uses of parametric insurance:
- Currently, we have parametric policies that cover Self Insurance Retention (SIRs).
- Others cover deductibles of traditional policies.
- Some replace hurricane coverage in traditional policies.
- Others complement traditional policies.
Parametric insurances are alternative insurance options that can help our clients achieve better protection. They complement traditional policies well, making the overall insurance program more robust. Additionally, they provide access to capital (funds) more quickly than a conventional policy, as there is no traditional claims adjustment process involved.