In addition to more traditional lines of business insurance, Hempkins offers a number of specialty lines of insurance including:
- Inland Marine/Contractor Equipment
- Surety/Bonds
- Directors and Officers/Errors and Omissions
- Group Health
Inland Marine/Contractor Equipment
Whether your work involves a complex, large project like constructing a skyscraper or a simple one like home improvement, Hempkins Insurance can provide you with ample equipment coverage. Practically any type of mobile equipment and/or tools from simple hand tools, to very large cranes, can be insured for direct physical loss.
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Surety/Bonds
Hempkins Insurance works with leading companies in the surety industry. A bond covers the fulfillment of an obligation. Obligations can range from performance of a contract to following laws related to an operating license to paying taxes or lease fees, supplying goods, or a court judgment. Consideration can be given to underwrite almost any type of bond required.
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Directors and Officers/Errors and Omissions
In today's litigious environment, it is extremely important for business professionals to have coverage to address possible risks associated with serving as an executive or board member. Courts often hold such individuals personally responsible for abuse of authority, financial mismanagement, libel, slander, and other acts in suits brought by shareholders, creditors, customers and/or employees.
Hempkins Insurance provides both Directors and Officers (D&O) and Errors and Omissions (EO) insurances. The following are some of the more common benefits under these policies:
Director and Officers' Insurance:
- True entity coverage recognizing that the organization may be the only defendant named in a lawsuit
- Coverage for breach of employee contract claims available
- Coverage for defense costs up to $25,000 for any actual or alleged breach of contract agreements other than breach of employment contract claims
- Wrongful act which includes any actual or alleged Employment Practices Act
- Per diem payments for expenses incurred as a result of the attendance of any individual insured at any hearings, trials or depositions
- Spousal coverage
Errors and Omissions' Insurance:
- Defense afforded for groundless, false or fraudulent allegations
- Policy allows for insured consent to settlement
- Predecessor firm covered provided
- Coverage extends to independent contractors
- Wrongful act not imputed to innocent partners
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Group Health
With escalating healthcare costs, many employees view health insurance as one of their most valuable benefits. In fact, a 2002 survey by the Employee Benefits Research Institute (EBRI) found that 60% of workers felt health insurance was their most important benefit.
Hempkins Insurance offers a variety of options including small group and medical savings accounts. According to the 2002 Small Employer Health Benefits Survey, EBRI found that 64% of small employers offered health benefits to workers because they believe it increases productivity by keeping employees healthy. The survey also found that 75% of employers offered health benefits to help with recruitment and retention.
Hempkins Insurance is always available and welcomes the opportunity to discuss your coverage needs and options. For more information, please contact us.
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