Business Center

Property and Casualty

Definitions of Terms

The definitions below describe different types of coverage available for businesses.

Contact us for a referral to a Property/Casualty Agency.

GENERAL LIABILITY
Coverage for bodily injury or property damage to others arising out of the insured’s operations, premises or products. Personal injury (liable, slander, defamation of character) is also covered.

PROPERTY
Coverage for buildings and the contents of buildings such as furnishings, stock, equipment, etc.

INLAND MARINE
A broad category of coverages, primarily for insuring property that moves or is transported; e.g.; property while being shipped, contractors, tools, mobile machinery like tractors, convention displays.

BUSINESS INCOME & EXTRA EXPENSE
Pays for the loss of net income and regular continuing operating expenses after a business has suffered a covered loss, such as a fire.

COMMERCIAL AUTO
Provides coverage for bodily injury or property damage to others from the use of a business vehicle. Also provides coverage for vehicles owned or leased by the business against loss due to collision, theft, fire, vandalism, etc.

LIABILITY UMBRELLA
Provides additional liability coverage over the general liability and commercial auto policy.

PROFESSIONAL LIABILITY / ERRORS AND OMISSIONS / MALPRACTICE
Provides coverage against lawsuits arising out of professional services and/or advice given to others. Vocations that have an exposure include doctors, lawyers, insurance agents, realtors, technology companies, consultants, engineers, architects, etc.

DIRECTORS & OFFICERS LIABILITY (D&O)
Covers the directors and officers of an entity against lawsuits arising from the actions of the directors and officers or their failure to act. Common among charitable and non-profit organizations, homeowner associations, companies with boards of directors.

EMPLOYMENT PRACTICES LIABILITY
Employment Practices Liability covers lawsuits brought by past, present or perspective employees against owners or management alleging wrongful acts including harassment, wrongful termination, failure to hire, failure to promote, etc.

POLLUTION
Pollution coverage for the damage caused by pollutants to people and/or property and for the cost to clean up the pollutants.

BONDS
A financial guarantee of the bonding company to pay on behalf of the bondholder if the bondholder fails to perform.

WORKERS COMPENSATION
Covers employees for medical bills and loss of income due to a workplace injury or illness. Employers are required by law to purchase this coverage. These loss of income benefits are modest.

Guardian does not offer nor does it service Property & Casualty insurance.

Securities products and services are offered through Park Avenue Securities LLC (PAS) 244 Boulevard of the Allies, Pittsburgh PA 15222 1.412.391.6700. PAS is an indirect wholly-owned stock subsidiary of Guardian. Neither Lifetime Financial Growth, LLC. nor Luttner Financial Group Ltd. are affiliates or subsidiaries of PAS or Guardian.

 

PAS is a member FINRA, SIPC.

 

The Information on this site is intended for the residents of Pennsylvania, Ohio, West Virginia, and Maryland. The financial representatives of Lifetime Financial Growth are not licensed to sell securities in all 50 states. To find out if an agent is licensed in your state, please contact Cheri McElroy at 412-391-6700.

 

We are licensed to sell Insurance in the following states: Pennsylvania,Indiana, West Virginia and Ohio.

 

Guardian, its subsidiaries, agents or employees do not give tax or legal advice.

The Living Balance Sheet® and the Living Balance Sheet® Logo are registered service marks of The Guardian Life Insurance Company of America (Guardian), New York, NY. The graphics and text used herein are the exclusive property of Guardian and protected under U.S. and International copyright laws. © Copyright 2005-2012, The Guardian Life Insurance Company of America

 

Guardian does not offer Property & Casualty and Individual Health nor do we provide services for them. Disability income and long term care insurance underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America, New York, NY. Products are not available in all states. Product provisions and features may vary by state.

 

Important Consumer Information: A broker-dealer "BD", investment advisor "IA", a BD agent, or IA Representative may only transact business in a state if first registered in the state, or is excluded or exempt from registration in that state as a broker-dealer, investment advisor, BD agent, or IA Representative, as appropriate. Follow-up individualized responses to persons in a state by such a firm or individual that involves either affecting or attempting to affect transactions in securities, or the rendering of personalized investment advice for compensation will not be made without first complying with appropriate registration requirements, or an applicable exemption or exclusion. For information concerning the licensing status or disciplinary history of a broker-dealer, investment advisor, BD agent, or IA rep, a consumer should contact his or her state securities law administrator.

 

This Internet site may contain general information about various investment products. The information or opinions contained in this Internet site should not be construed by any consumer and/or prospective client as an offer to sell or the solicitation of an offer to buy any particular investment product. Such information is directed solely to those individuals who reside in jurisdictions in which the representative is registered in the state where the consumer and/or prospective client reside. Any subsequent direct communication with a consumer and/or prospective client shall only be conducted by a representative that is registered in the state where the consumer and/or prospective client reside.