Protecting Businesses with Commercial Property & Casualty Insurance for Associations

This is a two-part series from Marcie ODwyer, Principal and VP, Sales, and a Property & Casualty licensed agent. Previously we discussed property and casualty insurance for individual property such as your home, auto, condominium, renters, boat, or RV. This insurance covers both liability and damage to your individual property. 

Commercial property and casualty insurance for associations is necessary to protect businesses and business owners of all sizes from the everyday, inherent risks. From lawsuits to disasters, Associated Benefits Consulting aims to provide associations with the right insurance coverages to help their members and business owners reduce the risk of economic loss and the potential loss of livelihood.

According to AdvisorSmith, 76% of small businesses experienced an insurable event in 2020, with nearly one-third of owners lacking proper business insurance. With so many unknowns that can negatively impact businesses, it’s important to offer protections that your members can rely on to defend against future risks like natural disasters, liability claims or property damage. There are several distinct types of commercial property and casualty insurance for associations designed to protect business owners. 

Some Insurance Carrier bundles offer protection from property and liability into a Business Owner Policy (BOP). BOPs are generally offered to small and medium size businesses with similar risks, and they typically  offer thorough coverage for property Insurance, business interruption insurance, and general liability insurance. 

While BOPs usually do not include coverage for professional liability, commercial auto or workers compensation claims, ABC’s Thriving Marketplace allows employers to customize their business insurance to include more comprehensive coverages for their business, including: 

  • Business Vehicle Insurance  
  • Crime Insurance
  • Accounts Receivable 
  • Cyber Liability
  • Workers Compensation Insurance
  • Equipment Breakdown
  • Personal Advertising Injury
  • Rented Vehicle 
  • Employment Practices Liability

Educating your members on what coverages business owners need is a valuable benefit that can potentially save your members—and in some instances their business—thousands of dollars. By partnering with ABC and our licensed professionals who are subject matter experts in commercial property and casualty insurance for business owners, associations can keep members informed and protected while enhancing benefits.

View our holistic offerings to ensure your members have the coverage options they need to stay protected and thrive in the future.