Shield your business from unforeseen risks with comprehensive liability insurance.
What is Liability Insurance?
Commercial Liability Insurance is a broad category of insurance designed to protect businesses from financial losses that could result from liability claims. These claims may arise due to injuries, property damage, accidents, or negligence that occur in connection with the business’s operations, products, or services. This type of insurance helps cover the costs associated with legal defense, settlements, and court judgments.
Our Range of Commercial Liability Insurance:
Whose needs Liability Insurance cover?
Why do you need Liability Insurance?
Benefits of Liability Insurance
Financial Protection Against Lawsuits
Covers legal costs, including attorney fees, court costs, and settlements or judgments if you are found legally responsible for causing injury or property damage.
Property Damage Coverage
Provides compensation for damages caused to third-party property due to your actions or negligence.
Protects Personal and Business Assets
Helps safeguard personal or business assets by covering the costs associated with a liability claim, preventing severe financial loss.
Covers Employee Actions
In many policies, employee actions that lead to accidents or damages are covered, protecting the business from the consequences of employee mistakes.
What does Liability Insurance cover & exclude?
| Coverage | Description | Exclusions | Description |
|---|---|---|---|
|
Legal Defense Costs |
Covers expenses related to defending against lawsuits. |
Intentional Acts |
Claims arising from deliberate or fraudulent actions. |
|
Bodily Injury Claims |
Provides financial support for injuries caused to others. |
Contractual Liabilities |
Responsibilities assumed through contracts beyond standard liability. |
|
Property Damage |
Covers costs for damage to someone else’s property. |
Employee Injuries |
Typically covered by Workers’ Compensation insurance. |
|
Medical Expenses |
Pays for medical bills of injured parties. |
Professional Errors |
Specific errors or omissions might require separate Professional Liability Insurance. |
|
Settlements and Judgments |
Covers payments for settlements or court-awarded damages. |
Property Damage to Own Property |
Damages to your own property are usually not covered. |
|
Personal Injury Claims |
Covers claims for non-physical harm, such as defamation. |
Employment-related Issues |
Issues related to employment are typically covered by Employment Practices Liability Insurance. |
|
Libel and Slander |
Provides coverage for claims of defamation or false statements. |
Intentional Acts of Defamation |
Claims arising from deliberate defamation are not covered. |
|
Product Liability |
Covers claims related to defective products (may require additional coverage). |
Defective Products |
Liability for defective products might need separate product liability insurance. |
|
Data Breach Liability |
Covers costs related to data breaches (may require additional cyber liability insurance). |
Cybersecurity Breaches |
Coverage for cybersecurity breaches might need separate cyber liability insurance. |
|
False Arrest or Detainment |
Provides coverage for claims related to wrongful arrest or detainment. |
Regulatory Fines |
Penalties or fines imposed by regulatory agencies are not covered. |
|
Advertising Injury |
Covers claims related to false advertising or copyright infringement. |
Intentional Misrepresentation |
Claims arising from intentional misrepresentation are not covered. |
When can you Claim Liability Insurance?
- Accidents or Incidents: When an accident or incident causes bodily injury or property damage to a third party.
- Legal Actions: If you are sued or face legal actions due to alleged negligence, mistakes, or omissions in your professional duties.
- Defamation Claims: When accused of libel, slander, or other forms of defamation.
- Product Issues: If a product you manufactured or sold causes harm or damage, leading to claims.
- Data Breaches: When a data breach results in financial loss or liability for affected parties.
- False Arrest or Detainment: If accused of wrongful arrest or detention.
- Advertising Injuries: When claims arise from false advertising or intellectual property infringement.
FAQ'S
It typically covers legal defense costs, bodily injury claims, property damage expenses, medical expenses, settlements and judgments, personal injury claims, libel and slander, product liability, and false arrest or detainment.
Premiums are based on various factors including the type of business, industry risks, location, size of the business, claims history, and coverage limits.
Employee-related issues such as wrongful termination or harassment are generally covered under Employment Practices Liability Insurance (EPLI), not Commercial Liability Insurance.
It’s not typically mandated by law, but it may be required by clients, contracts, or business licenses, and it is generally a best practice for managing business risks.
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