Texas General Lines — Property and Casualty

An insuring agreement found in Commercial Crime policies that covers loss of money, securities, and other property resulting directly from theft or dishonest acts committed by an employee.

• Covers internal theft by employees.
• Can be written on a 'per loss' or 'per employee' basis.
• Requires a 'discovery' or 'loss sustained' trigger.

Within CGL Coverage A, the 'products-completed operations hazard' covers bodily injury and property damage occurring away from the insured's premises and arising out of the insured's product or work after it has been put to its intended use.

• Part of Coverage A (Bodily Injury and Property Damage)
• Applies once product/work is completed and off-premises
• Covers BI/PD claims from products or completed work

A Commercial Auto Coverage Form designed for businesses that transport property or passengers for hire, covering both owned and non-owned vehicles and addressing specific regulatory requirements.

• For businesses transporting goods/passengers for hire
• Covers owned and non-owned vehicles
• Addresses unique motor carrier liabilities

An Inland Marine coverage form that provides 'all-risks' coverage for scheduled valuable items such as fine art, cameras, musical instruments, and other specialized articles, often covering them at various locations, in transit, or in storage.

• Covers scheduled items of high value.
• Provides broad 'all-risks' coverage.
• Ideal for portable valuable property not typically covered by standard property forms.

The maximum amount the insurer will pay under Coverage A (Bodily Injury and Property Damage) for all damages arising out of the 'products-completed operations hazard' during the policy period.

• Applies to all claims from completed operations.
• Is an aggregate limit, not per occurrence.
• Reduces with each payment until exhausted.

A type of Ocean Marine insurance that covers the physical loss or damage to goods being transported over water, including during loading, unloading, and land transit associated with the voyage.

• Protects owners of goods from financial loss.
• Coverage can be 'named perils' or 'all-risks'.
• Can include General Average contributions.

Coverage A of the Commercial General Liability (CGL) policy provides coverage for 'property damage' for which the insured is legally liable, arising from an 'occurrence'. This includes damage caused by the insured's products or completed operations.

• Covers legal liability for physical damage to property of others.
• Triggered by an 'occurrence' (accident).
• Includes 'products-completed operations' hazard.

A professional liability insurance policy that covers financial losses suffered by third parties due to the insured's negligent acts, errors, or omissions in the performance of their professional services.

• Crucial for service-based businesses and professionals.
• Covers financial damages, defense costs.
• Distinguished from CGL, which covers BI/PD.

A package insurance policy that combines property, liability, and often business interruption coverage into a single policy, designed for small to medium-sized businesses that meet specific eligibility requirements.

• Simplifies insurance for eligible small businesses.
• Bundles common coverages at a competitive price.
• Eligibility often based on size, revenue, and industry.

A specialized insurance policy that protects businesses from financial losses and expenses arising from cyber incidents, such as data breaches, cyberattacks, network security failures, and business interruption due to these events.

• Covers first-party costs (e.g., forensic, notification, business interruption).
• Covers third-party liability (e.g., lawsuits from affected customers).
• Essential for businesses handling sensitive data or relying on technology.

A specialized package insurance policy designed to provide comprehensive property and liability coverage for farming operations, including the dwelling, farm structures, farm personal property (e.g., equipment, livestock), and farm-related liabilities.

• Combines property and liability coverage.
• Covers dwelling, farm buildings, and farm personal property.
• Includes livestock and farm machinery.

A type of commercial insurance that covers direct physical damage to covered equipment, and sometimes business interruption, resulting from a sudden and accidental breakdown of that equipment.

• Covers mechanical, electrical, and pressure system failures.
• Often includes business interruption and extra expense.
• Supplements standard property policies, which typically exclude these perils.

A specialized form of property insurance that covers buildings and structures while they are under construction, including materials and equipment on-site.

• Covers property during the construction phase.
• Protects against perils like fire, wind, vandalism.
• Coverage typically ceases when the project is completed and occupied.

The core coverage part of a Commercial General Liability policy that protects the insured against claims of bodily injury or property damage for which they are legally liable.

• Covers bodily injury and property damage.
• Applies to premises and ongoing operations.
• Subject to policy limits and exclusions.

An Inland Marine coverage form designed to insure specific types of valuable, movable property, such as fine art, cameras, and musical instruments, for professionals or dealers, often including coverage during transit.

• Covers movable property of a professional nature.
• Includes items like fine art, cameras, musical instruments.
• Provides broad coverage, often worldwide and in transit.

Insurance that covers direct physical loss to specified equipment due to sudden and accidental breakdown, as well as indirect losses like business interruption resulting from the breakdown.

• Covers mechanical, electrical, or pressure system breakdowns.
• Includes repair/replacement of damaged equipment.
• Often includes business income and extra expense coverage.

Coverage that pays for the loss of business income sustained after the business resumes operations, until income returns to pre-loss levels, up to a specified maximum period.

• Starts after direct business income period ends (operations resume)
• Pays until income returns to normal or max period expires
• Commonly 30, 60, or 90 days, can be endorsed for longer

Business Income coverage replaces lost net income and covers continuing expenses when a business is shut down due to a covered direct physical loss. Extra Expense coverage pays for additional costs incurred to minimize the suspension of business operations and continue at a temporary location.

• Business Income covers lost profits and ongoing expenses.
• Extra Expense covers costs to speed up restoration or continue operations.
• Both are triggered by direct physical loss to covered property.

Within a Businessowners Policy (BOP), Medical Payments coverage provides for the payment of reasonable medical expenses for bodily injury caused by an accident on the insured's premises or operations, regardless of fault, up to a specified limit.

• No-fault coverage
• Covers medical expenses for bodily injury
• Applies to accidents on premises or from operations

An Inland Marine coverage form designed for film production companies, providing 'all-risks' coverage for cameras, lighting, sound equipment, negatives, and other production-related property while on location, in transit, or in storage.

• Specialized for motion picture and television production.
• Covers a wide range of production equipment.
• Can include coverage for negatives, videotape, and even props.

The Building and Personal Property Coverage Form (BPP) provides coverage for improvements and betterments made by a tenant to a building, which are fixtures, alterations, or additions that become part of the building.

• Covers tenant-made alterations to leased premises.
• Considered part of 'Your Business Personal Property' if made by the tenant.
• Can be covered under the 'Building' definition if made by the building owner.

A component of Workers' Compensation insurance that provides compensation to employees for a portion of their lost wages due to a work-related injury or illness that prevents them from working.

• Replaces a percentage of the employee's average weekly wage.
• Paid for temporary or permanent disability.
• Subject to state-specific maximums and waiting periods.

An Inland Marine coverage form that provides broad coverage for mobile equipment, tools, and machinery owned by contractors, protecting them against various perils while at job sites, in transit, or stored at their premises.

• Covers mobile equipment and tools.
• Designed for contractors and construction businesses.
• Provides coverage regardless of location.

Insurance that protects the personal assets of corporate directors and officers from claims arising from wrongful acts committed in their capacity as corporate managers.

• Protects personal assets of D&Os
• Covers wrongful acts in management capacity
• Often includes entity coverage for the corporation