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Business Owners Insurance

Business Owners Policy (BOP)

Business Owners Policy, Business Insurance, General Liability Insurance

Business owners policy also referred to as a BOP is a package that combines protection from all major property and general liability risk in one package.  Ideal for most small and mid-size businesses




Workers Compensation

Workers Compensation Insurance, High xmod, Workers comp, risk management

Workers Compensation Insurance is coverage for an employee's medical expenses, lost wages, and rehabilitation services that result from a workplace injury or illness.  If you have employees, you are required by state law to have workers comp. 



Professional Liability

professional liability, mal practice, errors and omissions, E&O

 Professional liability insurance, more commonly known as errors & omissions (E&O) insurance, is a form of liability insurance that protects individuals and companies that provide professional advice and services from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. 

Employment Practices Liability

Employment practices Liability Insurance, EPL, EPLI, Harassment Insurance, Wage and Hour Violation

 Employment practices liability insurance (EPLI) provides employers with protection against claims of discrimination, wrongful termination, sexual harassment or other employment-related claims made by employees, former employees or potential employees. EPLI offers coverage for claims typically excluded without an EPLI policy. 







Cyber Liability

cyber liability, ransom insurance, data breach, cyber hacking, privacy breach

The number of cyber liability incidents and data security breaches continues to rise, making it more important than ever for business owners to have the appropriate insurance coverage in place.

A breach may have a serious impact on your businesses ability to function. You could face unexpected legal, IT forensic, and

notification expenses and risk losing the faith and trust of your customers. There are federal and state reporting obligations to be met, liability for exposing personally identifiable information, possible fines and the ever present risk of cyber extortion.

Commercial Auto Insurance

Business Auto Insurance, Delivery Truck Insurance, Contractors Auto Insurance, Hired and Non-owned

 When you own a business, you have a unique set of operation and protection requirements all your own. If you’re a business owner who owns and operate vehicles, commercial auto insurance provides coverage for your unique needs.   Even if you don't own vehicles, you could still have exposure from employees using their vehicles for business purposes.  Hired and Non-Owned coverage covers this exposure.





Bonds

contractors bonds, bid bond, performance bond, tax bond, Fidelity Bonds, license Bond, Auto Dealer

A surety Bond is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.  


Employee Benefits

401K, Group Health, Group Dental, HR, employee benefits

 Employee benefits are defined as a form of compensation paid by employers to employees over and above regular salary or wages. Employee benefits come in many forms and are an important part of the overall compensation package offered to employees. We have a portfolio of products that offer affordable options for employers to offer. 


Directors & Officers Insurance

D&O insurance, Directors and Officers,  Non-Profit Directors and officers, For Profit D&O

 Often called "D&O" is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.

Business Succession Planning

Business Succession Planning, Passing Legacy to next generation, Funding Succession Planning

For private, owner-managed, or family owned businesses, a solid succession plan can drive the growth of the business, reduce taxes and set the stage for retirement.  Taken together, these issues demonstrate that succession planning is an important and evolving process






Buy-Sell Agreements

Partners Buy-Sell Agreement, Funding Buy-Sell Agreement, Benefits of Buy-sell Agreement

Buy-Sell Agreements are binding contracts between co-owners that control when owners can sell their interest, who can buy an owner's interest, and what price will be paid. These agreements come into play when an owner retires, goes bankrupt, becomes disabled, gets divorced, or dies -- in other words, a buy-sell agreement is a sort of prenuptial agreement between business co-owners. We are experienced in assisting with funding buy-sell agreements. 


Key Person Insurance

Keyman Insurance, key person Insurance, Funding Keyman Funding Key person

 Key man insurance is typically structured with Life Insurance on the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two. These are the people who are crucial to a business--the ones whose absence cause financial damage to the company. 





Business Owners Insurance

Business Property

 

You arrive to work early one morning, only to realize that your property was vandalized during the night. Fortunately, you have customized property insurance to cover such a loss. Your business is up and running again, and you hardly missed a beat.

The bricks and mortar are covered, but what about everything else? What about your office furniture or your computers? Can you afford to start your business from scratch if you have to?

Business property insurance provides customized coverage to meet your individual needs, including: buildings, business property, business continuation, and tools and equipment. It’s designed to protect your property, including equipment and tools that are crucial to your day-to-day functions. It also helps to “get you back to where you belong “ by providing the funds to replace everything you need to continue business operations.

The Clemente Difference!

Having an experienced broker assist you with your business insurance is a smart idea.   The insurance products are always changing and being improved .  Today,  you may have the option of adding Cyber Liability, Employment Practices Liability and even commercial auto insurance coverage to your BOP policy, which makes a great value as a business owner.  


If you are a new business, you may not need the comprehesive coverage of a BOP, in those cases we have stand alone General Liability or property policies available. 


We are happy to use our resources and experience in the indusry to obtain the right coverage for you. 

General Liability

 

Most businesses don’t just happen. They develop from the blood, sweat and tears of the owner. An accident or error could erase all that hard work in an instant. A customer could be injured while visiting your business, leaving you with an expensive medical bill or even a lawsuit against you.

That’s why we offer general liability coverage: to protect business owners from losing everything they have. It provides protection for premises, products, contractual, personal and advertising injury, as well as many other potential liabilities. We live in a lawsuit happy society, which is why it is more important than ever to have business insurance.

Commercial Umbrella / Excess Liability

A Commercial Umbrella policy offers a low-cost way for you to help protect your business from large financial losses.  

Limits available up to $10M


Umbrella / Excess Insurance has three primary functions: 

  1. it provides additional coverage above the limits of the underlying policies
  2. Provides primary coverage once the underlying aggregate limits of liability have been exhausted by claim payments
  3. Provides broader coverage subject to policy exclusions and conditions

Large losses occure more frequently than you might think. An umbrella policy. Because a Commercial Umbrella policy is meant to apply to large, catastrphic losses, the cost will be determined primarily by the business specific operations. In most cases, the cost of umbrella/excess insurance is relatively low when compared to the cost of the underlying coverage. As a result the limitscan be much higher than the coverage limits provided by your current policies, for a fraction of the cost. 

Workers Compensation

How do you know you got the best price? With over 400 carriers offering coverage, an experienced broker can market your account to get the best pricing!

 

We have direct appointments with carriers and underwrite accounts in house, which allows us to have quick turn-around time on quotes and in many cases we can bind coverage the same day.The underlying strategy of our Workers’ Compensation program is to establish a partnership among the four participants—the injured employee, the employer, the medical provider and insurance company. Our goal is to deliver the correct benefits quickly and efficiently at a fair cost.

Our services go beyond just providing a workers compensation policy. Our carriers’ complete medical and disability management program is designed to help control your workers compensation premiums.

Our comprehensive approach consists of:

Preferred Provider Organization—An extensive network of industrial clinics, physician specialists and hospitals committed to giving excellent treatment as well as managing costs.

Utilization Management—Our nurses, under the supervision of medical doctors, review treatment plans using the latest in computerized medical guidelines. They also verify the necessity of hospital admissions and lengths of stay.

Early Return-to-Work Programs—Early return to work is a major factor in cost savings. Bringing employees back to work as soon as medically feasible saves substantial sums in temporary disability payments and retraining costs.

Bill Review—We review every bill to check pricing, appropriateness of the treatment and the billing overlap. This saves millions of dollars each year in unnecessary charges.

Loss Control Services—Our loss control programs can assist you in reducing the frequency and cost of injuries. We also offer posters, videos, and brochures to reinforce workers compensation safety programs, raise employee awareness, and meet legal requirements.

Fraud Control—Our claims representatives are trained to identify and react when they see red flags which indicate a claim needs further investigation.

Classification Review—We’ll review your individual classifications and operations to make sure payroll, sales, and other variables are correctly classified and you are charged the correct premium.

Premium Audit Service—Our auditors will help you understand premium classifications as well as forecasting future premium costs. They also assist in making sure your premium is calculated at the correct rate.

Claims specialists—Specialized claims representatives handle only Workers’ Compensation claims. They review medical expenses, initiate early return-to-work programs, facilitate rehabilitations and manage legal costs.

Same-Day Three-Point Contact—On the day the claim is received, our claims representatives are committed to achieving same-day contact with the employee, employer and medical provider. This insures that benefits begin as soon as possible and that questionable claims are investigated early in the process.

Professional Liability

 Professional liability insurance, more commonly known as errors & omissions (E&O) insurance, is a form of liability insurance that protects individuals and companies that provide professional advice and services from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. 

We make obtaining coverage easy!

 Professional liability insurance policies vary from one insurer to the next. Finding the best price, coverage and service is key to effectively securing the right policy. Our broad portfolio of professional liability solutions from the various markets with which we partner are designed to protect our clients from financial loss that arise from allegations of negligence or an error or omission in their professional services. 

If you offer a professional service, you need E&O

 

  • Malpractice insurance for doctors, physicians, etc.
  • Realtors, agents, brokers, others
  • Attorneys, paralegals, etc.
  •  IT professionals, software developers, webmasters, etc
  •  We also cover consultants, architects, engineers, accounting and financial services, and wedding planners, just to name a few 
  • If you offer a professional service, you may have a need for E&O

Employment Practices Liability Insurance

Did you know a business is 4X's more likely to have and EPLI claim than a Fire?

  

Employment practices liability insurance, known in the trade as EPL insurance or EPLI, provides coverage to employers against claims made by employees alleging discrimination (based on sex, race, age or disability, for example), wrongful termination, harassment and other employment-related issues, such as failure to promote. 


Large corporations typically have substantial employment practices insurance coverage in place and are prepared to deal with just about any employment lawsuit. However, small or new businesses are often the most vulnerable to employment claims. That’s because they usually lack a legal department or employee handbook detailing the policies and procedures that guide hiring, disciplining or terminating employees. 


 The cost of insuring your business for EPLI coverage depends on a variety of factors, such as the number of people you employ, if you've had prior suits lodged against the company, the percentage of employee turnover, and if you have established rules and practices in place. Depending on the size of the company, EPLI can be offered as an endorsement to a Business Owner's Policy. (BOP), a General Liability Policy (GL), or a specific stand alone policy can be written in conjunction with a BOP policy 

Cyber Liability & Data Breach

Provided with the Coverage

  • Up to $10 million aggregate annual limit
  •  Information Security and Privacy Liability
  • Privacy Breach Response Services
  • Regulatory Defense and Penalties
  • Website Media Content Liability
  • Payment Card Industry (PCI) Fines, Expenses and Costs
  • Cyber Extortion
  • Data Protection
  • Network Business Interruption
  • Free data security risk management services provided to policyholders

Cyber Liability

 Cyber Liability Insurance helps businesses survive data breaches and cyber attacks by paying for recovery expenses. When cybercriminals infiltrate a network, hold data hostage, or acquire sensitive data, the company they steal from can be held liable for the incident. That's where Cyber Insurance comes in. It can often pay for customer notification, credit monitoring, legal fees, and fines after a business experiences a breach 

Data Breach

 

Many small-business owners may not think they need Cyber Liability coverage, but small businesses are vulnerable to security threats. You may want to have this protection if your business handles…

  • Customer payment, credit, or bank account information.
  • Medical information.
  • Social Security or driver's license numbers.
  • Customer names, email addresses, phone numbers, and addresses.

Retailers, healthcare organizations, and financial service providers (like accountants) are especially hot targets for breaches and attacks. But all it takes is one employee mistake, unauthorized access by a former employee or vendor, an unshredded document, a skilled hacker, or a stolen laptop to trigger a breach. It can happen to any business, so cyber insurance is a smart safeguard

First-Party vs. Third-Party Cyber Liability Insurance

 

The type of data breach insurance you need depends on the work your business does. Below are key things to keep in mind when considering which type of Cyber Liability Insurance to buy.

First-party response may cover…

  • Legal and forensic services to determine whether a breach occurred and to assist with regulatory compliance.
  • Notification of affected customers and employees, including costs such as letter preparation and mailing.
  • Customer credit and fraud monitoring services.
  • Crisis management and public relations to educate your customers about the breach and rebuild your company's reputation.
  • Good faith advertising.
  • Business interruption expenses, such as costs for additional staff, rented or leased equipment, or use of third-party services.
  • Cyber extortion reimbursement for credible threats to introduce malicious code, to pharm and phish customer systems, or to corrupt your computer system.

Third-party defense and liability may cover…

  • Judgments, civil awards, or settlements you're legally obligated to pay after a data breach.
  • Electronic media liability, including infringement of copyright, domain name, trade name, service mark, or slogan on an intranet or Internet site.
  • Potential coverage for employee privacy liability as well as network security and privacy liability.

Commercial Auto Insurance

Coverage Options

  • Bodily Injury and Property Damage Liability up to $2M limit
  • Uninsured/Underinsured Motorist
  • Collision Damage
  • Comprehensive Damage
  • Additional coverage options:
  • Towing/Labor
  • Auto Loss of Use
  • Lease/Loan
  • Drive Other Car
  • Fellow Employee

Additional coverage options designed specifically for Contractors:

Coverage extensions to meet contractual requirements including:

  • Blanket Waiver of Subrogation
  • Blanket Additional Insured
  • Primary and Non-contributory Coverage
  • Pollution Liability - Broadened Coverage for Covered Autos
  • Contractors’ Tools and Equipment Coverage 

The right choice!

  

Sedans, vans, pick-ups, SUVs. Whatever you drive, Clemente Insurance offers all the coverages you need to keep your commercial vehicles protected. We offer the following types of commercial vehicle insurance:

  • · Business Auto insurance
  • · Pickup Truck insurance
  • · Van insurance
  • · Truck insurance
  • · Tow Truck insurance
  • · Dump Truck insurance
  • · Landscaping insurance
  • · Construction insurance
  • · Mobile Food Vendors - Food Trucks
  • · And many more.







No Business Owned Vehicles?

You may still have a need for Hired and Non-owned Auto Coverage!


  • Hired autos are covered as an option on business auto insurance or BOP policy that are leased, hired, rented or borrowed.  
  • Non-Owned Auto coverage for autos that the business does not own, hire, lease, rent or borrow that are used in connection with the business. This includes auto owned by the businesses employees or partners or members of their household, but only while used in the business.
     
  • If your employees use their own vehicles in the course of their work, this coverage is a must 

Surety Bonds

CA Contractors License Bonds

 Contractor’s license bonds legally protect the following three parties: you, the contractor, the company who has hired you, and the state bond issuing agency. By getting the contractor license bond, you are ensuring that you will always provide ethical and professional services. Contractor bonding also protects the public in that you and the company that hired you are indicating that you will provide professional services that will do no harm to them. Should someone be negatively affected by an unethical decision made, then they can file against the bond for financial recompense 


Bonds Electronically filed

Instant quotes available

Financing options available. 

If you need a Bond, we can help!

Bond premiums are based on three primary criteria: bond type, bond amount and the applicant's risk.    With our expertise, we can help clients with perfect or challenged credit obtain a bond. 


IF YOU NEED ANY TYPE OF BOND WE CAN HELP

CA Sales Tax Bond

 Sellers in the state of California are required to post a sales tax bond by the California State Board of Equalization (SBE). The main purpose of this surety bond is to guarantee that businesses pay the right amount of sales tax and do it on time.

Like other surety bonds, the California sales tax bonds acts as a three-party agreement, between a principal (the business), an obligee (SBE), and a surety (a bonding company). If the principal fails to meet their contractual obligations, the obligee can file a claim and seek reimbursement for the losses incurred. The surety and the principal are obliged to make good on the claim

Bid Bond

 A bid bond is issued as part of a supply bidding process by the contractor to the project owner, to provide guarantee, that the winning bidder will undertake the contract under the terms at which they bid 

Fidelity Bond

 A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees. 

Performance Bond

a.k.a CONTRACT BOND

 A performance bond, also known as a contract bond, is a surety bond issued by an insurance company to guarantee satisfactory completion of a project by a contractor. 

Employee Benefits

Health - Dental - Vision Group Plans

LONG TERM CARE, GROUP LIFE INSURANCE &  GROUP DISABILITY


Offering Employee benefits can help you attract top talent, It may reduce turnover, and benefits can lead to a healthier workforce. 


Our team has members working exclusively in Employee benefits.  Our expertise can assist you with customizing a plan to fit your business needs.  Whether you are looking for begin offering benefits or would like to compare our offers to your current plan. 

401(k) Retirement Plans

 It is the employers (also called the plan sponsor) responsibility to run the plan in accordance with law, rules and regulations, and provisions of the plan itself. This includes deciding who is eligible for the plan, how much and when they can contribute, how much the employer will contribute to the plan, what investment options you will have, how often you can reallocate your investment assets, hiring the vendors necessary to run the plan, and what features the plan will have (will loans be allowed, will hardship withdrawals be allowed, etc.).   Our Partners have some of the most affordable plan options available regardless of your company size.


There are tax advantages for businesses that implement a 401(k) plan. contact us for additional information

Human Resource & Safety Programs

Our Clients enjoy the benefits of access to Human Resource specialist on how to effectively manage employee relations and address day-to day workplace incidents and concerns including:

  • Termination
  • Decipline
  • hiring
  • responding to incidents of wrongdoing
  • threats of litigation
  • Crisis Management
  • Other events that can occure in the work place.

Our Services offer best practices focusing on:

  • Risk Management 
  • Loss Prevention
  • Litigation avoidance

Our Program includes access to exclusive content and services via client only website.  Access Injury and Illness prevention program templates,  Employee Handbook templates,  Safety Training along with other resources for business owners to be in compliance with State Law and to minimize their workers comp premiums 

Directors and Officers

For Profit and Non-Profit Organizations

 

Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

The insurance, which usually protects the company as well, covers legal fees, settlements, and other costs. D&O insurance is the financial backing for a standard indemnification provision, which holds officers harmless for losses due to their role in the company. Many officers and directors will want a company to provide both indemnification and D&O insurance.

Bundling coverages may be a good idea!

 D&O insurance can be purchased as a separate policy or bundled with other forms of coverage. Usually, it’s purchased by the company for the benefit of officers and directors. It may be more cost-effective for smaller companies to purchase a combination policy that includes D&O plus Employment Practices Liability insurance to cover employee-related claims, such as harassment, discrimination, and wrongful termination. Some comprehensive policies may also include crime and fiduciary coverage. 

Types of D&O Coverage

 

A typical D&O insurance policy designed for a privately held business may include three types of coverage:

  • A-side coverage. This part covers directors, officers, and sometimes employees, for defense costs, settlement fees, or judgments if the company cannot indemnify them, such as if the company has declared bankruptcy.
  • B-side coverage. This covers the company for directors', officers', and employees' losses when the company does indemnify them.
  • C-side coverage. Also called “entity coverage,” this financially protects the corporation in its own right. Entity coverage may reduce the limits available to protect the individual officers and directors.

Contact Us

Drop us a line!

Clemente Insurance and Financial Services

7700 Irvine Center Dr, Suite 800, Irvine, CA 92618, us

888.995.9098