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Insurance Division
The Insurance Division is divided into two specialized departments the Commercial Insurance Departments and the Personal Lines Department.
The Commercial Insurance Department serves the insurance needs of a wide range of businesses in Memphis and the surrounding area, as well as nationwide. Our experienced sales staff compiles the extensive underwriting data necessary to obtain the best possible Liability, Workmen's Compensation, Property, Marine, Fidelity and other common coverage's available in the insurance marketplace.
The Personal Lines Department provides the expertise to market, process and service insurance products such as Homeowner's, Automobile, and Personal Umbrellas which cover personal property and liability exposures of our clients.
Internally a team approach is used in marketing, policy processing, claims and other customer services that assist our sales staff in fulfilling customers requirements.
Finding the right policy is only part of our service. Our in house claims manager has over 20 years experience as an insurance claims adjuster. We move quickly to help get you back where you started before the claim occurred. Insurance is only a piece of paper until you have a claim.
Auto Coverage
Description of Coverage:
This coverage is designed to protect your business in the event of accident, theft, injury, and other damages involving your vehicles and your employees while driving those insured company vehicles. Our agents can help you with ideas to minimize auto claims.
Umbrella
Description of Coverage:
This coverage generally follows form with your underlying coverage providing excess liability over the primarily limits in your Automobile Liability, General Liability and Employer's Liability. Higher limits are available at your request. Umbrella Policy Provides Coverage:
Significant Policy Exclusions Coverage:
Equipment
Description of Coverage:
This coverage is designed to cover scheduled equipment when it is on or away from the described premises if it is damaged by the covered perils. It will cover the scheduled equipment
at locations other than the described premises and while in transit.
Property
Description of Coverage:
Deductible: This is the amount of the claim you will be responsible for on an occurrence basis. Perils Covered: The "Special Form" projects your covered property against all perils except those perils specifically excluded by the contract. This coverage will protect covered property against direct loss arising from any cause not specifically excluded. The advantage of this form is that the insurance company must prove that a loss is specifically excluded in order to deny coverage under the policy. Significant policy exclusion include:
Agreed Value Endorsement: This endorsement suspends the coinsurance provisions in the policy. This means that in the event of loss, there will not be any penalty because you are not insured to value. Adjustment Basis: Replacement Cost - This loss valuation method pays for the cost of repair or replacement of damaged items with like kind and quality without deduction for depreciation. This is important since you could face a substantial loss if you must replace property at today's price, but only receive the depreciated value of the property that was destroyed. Earthquake: Business Income: This insurance is used to cover the loss of income that results from a suspension or interruption of business or rental income when the insured property has suffered direct damage by a covered peril. Extra Expense: This coverage pays for the necessary additional extraordinary expenses needed to continue business when a covered loss directly damages or destroys insured property. Types of Coverage's:
TRANSIT COVERAGE Description: This coverage is designed to cover specified property that you own against direct loss subject to the policy exclusions while in transit on a covered vehicle. The policy insures such property for the stated perils and within the territorial limits as described in the form. GLASS COVERAGE Description: Because glass is excluded on the building and contents coverage, this coverage is designed to protect scheduled glass if it is damaged or destroyed by the covered perils. You must provide us with the number of plates and their measurements.
Liability
Description of Coverage:
This coverage is designed to cover your firm against negligent acts, errors or omissions committed by you or am employee while engaged in the management of your employee benefits plans subject to the policy terms. This policy is not intended to cover suits resulting from investment decisions on your employee benefits plan
Worker's Compensation
Description of Coverage:
Statutory Coverage This coverage pays the statutory benefits to the employees for injuries or death arising out of or in the course of employment subject to Worker's Compensation laws. Employer's Liability This coverage will pay for all sums which you are legally obligated to pay because of bodily injury by accident or disease sustained by an employee arising out of their employment. This coverage is distinct from any Worker's Compensation policy claim. $100,000 - Bodily Injury by accident - Each Accident This is the most your insurer will pay under Employers Liability, for all claims arising out of any accident, regardless of the number of claims that may arise out of the accident. $500,000 - Bodily Injury by Disease - Policy Limit This is the aggregate limit that stipulates the most your insurer will pay for employee bodily injury by disease claims during the policy period regardless of the number of employees who make such claims. $100,000 - Bodily Injury by Disease - Each Employee This is the most your insurer will pay for damages due to bodily injury by disease to any one employee.
________________________________________________________________ Workers Comp Liability Mobile Umbrella Equipment Property 2001 Brown & Associates, LLC. All rights reserved.
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