Arkansas HVACR NewsMagazine May 2023

S tate, National, Chapter News State national Chapter News

Liability Insurance

Why Have it

How to Get It

Nick Hall: Cross Point Insurance Advisors

liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability. I underlined two things in the definition above, Bodily Injury and Property Damage. I want you to remember those two coverage triggers. That can be damage to your customers home, office/business, their neighbor’s home or office, it can be injury to your customer or to any bystander who happens to be walking by while you are doing your work. The bottom line is this policy provides protection to you when you or your employee cause 3 rd PARTY BODILY INJURY or PROPERTY DAMAGE. You all work with heavy equipment and, if installed incorrectly, it can cause serious damage or injury. So, you can rest better at night knowing you are protected from financial loss by having general liability policy. As always, please let us know if you have any questions!

It has been great meeting many of you at the Continuing Education Expo’s the Association has been putting on throughout the state. I unfortunately can’t make all of them, but I hope to make as many as I can year in and year out! Many of you already know this, but there is a new requirement in Arkansas that in order to renew or get your HVAC License, you have to carry at least $250,000 in General Liability Insurance . You might ask why you need that, and how do you get it? Well getting it is easy! We put together the form on the next page that will allow us to get quotes for you. We work with several carriers and can shop your coverage to get you the best price, but did you know Arkansas HVACR Association Members get a 10% member discount through EMC? From there they will adjust the rates based off of your claims history and operations, but the starting point on your rates is only 90% of what a non-members would pay! So if you are not currently insured with EMC, you need to get a quote! Now, what does General Liability Cover? General Liability is defined as an insurance policy issued to business organizations to protect them against

Stay Safe Out There

Cross Pointe Insurance Advisors, LLC 12410 Cantrell Road, Ste 200A Little Rock, AR 72223 nickh@cp-ins.com : 501-680-1186