Endorsements and Exclusions

Endorsements add coverage to your policy and exclusions take away or limit coverage under your liability policy. We will address various types of exclusions and endorsements applicable to the liability policy. Here, we will briefly list the most common types of endorsements:

Liquor Liability- This is an endorsement to your liability policy adding coverage if your business sells, serves, produces, distributes or facilitates the delivery of alcohol to the public.

Employment Practices -As the population ages and as our workplace becomes more diverse, claims against employers alleging discrimination are increasing. This endorsement adds coverage for such claims subject to a number of limitations.

Employee Benefits -If you or an employee will manage employee benefits such as health, 401k's or pensions, then this endorsement will add coverage to protect you against claims of faulty administration or negligence.

Liability Insurance is a critical element of your business insurance plan and it can be complicated. Choosing a good insurance professional and creating a statement about what your business does so you can work with that professional to understand your options is important in making sure your liability insurance is an adequate part of your business insurance plan.

Words you may need:

error – помилка

casualty insurance – страхування від нещасного випадку

to eliminate – усувати, знищувати

claim – позов, претензія

apparent – явний

occurrence – випадок, подія

resolve – наважуватись

aware – обізнаний, інформований

exposure – наражання (на ризик, небезпеку)

inhalation – вдихання

pit – кар’єр

pollution – забруднення

negligence – недбалість, халатність

4. a) Read the text to find answers to the following questions:

- Why is it necessary to have workers’ compensation?

- How do premiums depend on the claim experience of the particular industry?

- What must be considered first in a properly constructed business insurance plan?