Some exposures fall outside traditional property, liability, auto, and workers’ compensation policies. There are coverages to address additional risks that may apply depending on your operations, contractual requirements, or regulatory obligations.

Excess Liability & Umbrella Coverage Excess and Umbrella policies provide additional liability limits above underlying policies such as Commercial General Liability, Commercial Auto, and Employers’ Liability.

• Excess Liability Excess Liability increases the limits of a specific underlying policy. It is typically written on a follow-form basis, meaning it follows the same terms, conditions, and exclusions as the underlying coverage. It does not broaden coverage — it simply provides additional limits once the primary policy has been exhausted.

• Umbrella Liability Umbrella coverage also provides additional liability limits over underlying policies and may, depending on the policy form, offer broader protection in certain situations. Umbrella limits are often structured to align with contractual requirements, landlord agreements or industry standards. As with all liability coverage, limits should reflect operational risk and the potential severity of loss.

Cyber Insurance Cyber risk is no longer limited to large corporations. Any business that stores client information, processes electronic payments, uses cloud-based software, sends invoices or relies on email systems has potential exposure. In today’s operating environment, even small organizations can experience data breaches, ransomware events or fraudulent funds transfers.

For smaller businesses in particular, the financial impact of a cyber event can be significant. Recovery costs often extend beyond technical repair and may include legal counsel, regulatory response, client notification, public relations management, and temporary business interruption.

Cyber insurance may provide coverage for:

• Data breach response and notification costs

• Data restoration and system repair

• Legal defense and regulatory investigations

• Cyber extortion and ransomware payments (subject to policy terms)

• Business interruption resulting from a covered cyber event

• Funds transfer fraud and social engineering losses (when endorsed)

Cyber events are not limited by company size. Evaluating cyber exposure is an important part of modern risk management for businesses of all sizes.

Surety Bonds Surety bonds are not insurance policies in the traditional sense. They are guarantees that a contractual or legal obligation will be fulfilled. Unlike insurance, a bond involves three parties:

• The Principal The party required to perform

• The Obligee The party requiring the bond

• The Surety The company providing the guarantee

Contract Bonds

• Bid Bond Guarantees the winning bidder will accept the contract and provide required performance and payment bonds

• Performance Bond Guarantees the work will be completed according to contract specifications

• Payment Bond Guarantees subcontractors and suppliers will be paid

• Completion Bond Often required by lenders to guarantee a project will be completed

Other Commercial Bonds

• Supply Bond Guarantees materials will be delivered as agreed

• Permit Bond Guarantees compliance with local regulations

• License & Permit Bonds Required for certain regulated professions

Fidelity Bonds A Fidelity Bond protects a business from financial loss due to employee dishonesty including theft of money, securities or other property. Fidelity bonds may be written as standalone bonds or structured within a broader crime insurance program depending on the carrier and coverage design.

Fiduciary Bond (ERISA Bond) A Fiduciary Bond (ERISA) is required under federal law for individuals who handle employee benefit plan funds. This bond protects the employee benefit plan — not the employer — against losses resulting from fraud or dishonesty by those managing plan assets. It does not provide liability protection for fiduciary decisions. That exposure is addressed under Fiduciary Liability insurance.

Builder’s Risk Insurance Builder’s Risk coverage protects property during the course of construction or renovation. It is typically written for:

• New construction projects

• Major renovations or additions

• Structural remodeling

Coverage generally applies to materials, supplies, and the structure itself while under construction.

Who Purchases Builder’s Risk? The policy may be purchased by:

• The property owner

• The general contractor

• A developer

• The responsible party as usually defined within the construction contract.

Important Considerations Builder’s Risk is not a substitute for other coverage. In many cases:

• The property owner will still need a separate property policy, particularly if the building is partially occupied or transitioning from vacant to occupied.

• General contractors still require their own General Liability coverage.

• Subcontractors must carry their own liability coverage as well. Policy terms, coverage triggers, and expiration dates vary.

Coverage often ends upon project completion, occupancy, or acceptance by the owner.

Why This Matters Many commercial risks arise from contracts, construction projects, technology use or financial guarantees — not just daily operations. Builder’s Risk, Umbrella, Cyber, and bonding requirements often exist because of specific project demands or contractual obligations. Proactively evaluating these exposures helps prevent gaps during critical phases such as construction, expansion or regulatory compliance.

Each policy will have stipulations, limits, and exclusions. Extensions, riders, and floaters are available to fill any gaps. The information on this website is an overview of the types of insurance you may be able to purchase, but does not comprise full explanations of policy types nor does it guarantee any particular coverage or policy.