If you are a business owner, you are at risk of a business-related lawsuit. Liability insurance protects a company and/or business owner in the event of a formal lawsuit or other third-party claim. Coverage includes any financial liability incurred in addition to expenses related to the company's legal defense.
Some Coverages to Concider
General Liability Insurance helps protect your business from property damage claims, bodily injury claims, and/or personal and advertising injury claims that could put your business’s assets at risk.
Professional liability insurance helps cover you and your company if you are found negligent in the professional services you provided. For example, if you make a clerical error that costs a client thousands of dollars. These situations could have costly legal repercussions. Professional liability insurance will help cover the costs and fees associated with the incident.
Employment Practices Liability Insurance (EPLI or EPL)
EPLI covers losses that would not be covered by Comprehensive General Liability policies. EPLI insurance is designed to cover wrongful termination, discrimination, sexual harassment, hostile work environment and in some cases, even wage and hour disputes. EPLI coverage is an essential coverage in today’s litigious society
Products liability refers to the liability of any or all parties along the chain of manufacture of any product for damage caused by that product. This includes the manufacturer of component parts (at the top of the chain), an assembling manufacturer, the wholesaler, and the retail store owner (at the bottom of the chain). Products containing inherent defects that cause harm to a consumer of the product, or someone to whom the product was loaned, given, etc., are the subjects of products liability suits. While products are generally thought of as tangible personal property, products liability has stretched that definition to include intangibles (gas), naturals (pets), real estate (house), and writings (navigational charts).