Ga. Commissioner Urges Coastal Business Owners to Prepare for G8 Summit

May 13, 2004

With the G8 Summit at Sea Island, Ga., less than a month away, Georgia Insurance Commissioner John Oxendine said local business owners may want to check their insurance policies to be sure they have adequate coverage.

“They should consider the nature of their business and whether they may need addition coverage for things like business interruption,” Oxendine said. “Also, millions of dollars in claims were filed after the 1999 World Trade Organization meeting in Seattle due to property damage caused by protesters and general civil disorder.”

Typically, business owners policies include: property insurance for buildings and contents owned by the company; business interruption insurance, which covers the loss of income resulting from any disruption of the operation of the business; and liability protection, which covers the company’s legal responsibility for the harm it may cause to others.

Business policies do not cover professional liability, auto insurance, workers’ compensation or health and disability insurance. Companies may need separate insurance policies to cover professional services, vehicles and employees.

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