For Alabama public entities, municipalities and utilities:
We offer coverage through Alabama Mutual Insurance Company (AMIC), Chubb and Travelers.
Alabama Mutual Insurance Company (AMIC) is organized under the laws of the State of Alabama and is owned by its participating Alabama member municipalities. AMIC was incorporated in March 29, 1989, and began business on September 28, 1989. AMIC came into existence as a result of the “hard” insurance market of the mid 1980s, when many municipalities could not get insurance and those that could were charged exorbitant prices. AMIC writes all lines of automobile insurance, commercial general liability, police professional liability, public official’s errors and omissions coverage, bonds, property, inland marine and so forth. AMIC is the only company writing municipal business in Alabama that offers first dollar defense coverage as well as co-volunteer liability. AMIC provides 24 hour, 7-day-a-week, toll-free convenience for the claims of its members.
Coverage is available to municipalities as well as other incorporated municipal entities such as utility boards and industrial development boards. AMIC includes co-volunteer liability for fire and police volunteers, protecting their personal liability, and is one of the few insurers to cover multi-jurisdictional law enforcement activities, such as federally funded drug task forces.
AMIC is a member of the Insurance Guaranty Fund and is rated B++ (Good) by the A.M. Best Company, the leading insurance company rating service in the world. Contact Woodall & Hoggle Insurance to get more information about your specific insurance needs.
Blanket coverage applies on all buildings and contents insured. This provides you with full use of the total insurance limit when loss occurs at any insured location.
Business Interruption Insurance (Loss of Income) – covers the loss of income that a business suffers after a disaster while its facility is either closed because of the disaster or in the process of being rebuilt after it. A property insurance policy only covers the physical damage to the business, while the additional coverage allotted by the business interruption policy covers the profits that would have been earned. This extra policy provision is applicable to all types of businesses, as it is designed to put a business in the same financial position it would have been in if no loss had occurred. This type of coverage is not sold as a stand-alone policy, but can be added on to the business’ property insurance policy or comprehensive package policy such as a business owner’s policy (BOP). Since Business Interruption Insurance is included as part of the business’ primary policy, it only pays out if the cause of the loss is covered by the overarching policy.
In addition to the options for public entities, municipalities, and utlilties listed above, Woodall & Hoggle also recommends some very important coverages that all businesses need to understand and consider:
Commercial Umbrella Liability Insurance – protects your organization against large, catastrophic liability claims. The policy acts as excess coverage over your primary liability policy(s).The coverage limit applies in addition to the limit(s) provided by underlying coverage(s).
Employment Practices Liability Insurance – provides protection for an employer against claims made by employees, former employees, or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations. It covers your firm, including its directors and officers.
Professional Liability (Errors & Omissions) Insurance – protects your company from claims if your client holds you responsible for errors, or the failure of your work to perform as promised in your contract. Coverage includes legal defense costs – no matter how baseless the allegations. Errors and Omissions Insurance will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy. Errors & Omissions Insurance coverage extends to both W2 employees and 1099 subcontractors, and can be worldwide in scope.
Workers’ Compensation Liability Insurance – provides coverage to employees for accidents or disease arising from employment. Benefits may include lost wages, medical expenses, and permanent disfigurement/disability payments. State law requires that employers provide Workers’ Compensation Insurance for their employees