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Things to Know About Liability Insurance in a Business

One of the essential policies for any business is liability insurance. But what does this type of insurance cover, and how can you secure this coverage for your company? To know more about liability insurance visit https://www.bvinsurance.ca/products/commercial/professional-liability-insurance/.<br>

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Things to Know About Liability Insurance in a Business

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  1. Things To Know About Liability Insurance In A Business

  2. Liability Insurance Liability insurance covers: Business owners Professionals Self-employed people Facing the cost of compensation claims due to malpractice, injury or negligence

  3. Types of Liability Insurance Professional liability insurance General liability insurance Product liability insurance Bodily Injury and Property Damage

  4. Bodily Injury Insurance Bodily injury and property damage on your business premises The products and services that you offer

  5. Professional Liability Insurance Professionals could protect themselves against client claims of negligence or malpractice It is also referred to as medical malpractice insurance or errors and omissions insurance

  6. Bodily Injury and Property Damage This coverage protects a business from liability like physical injury to the body or destruction to property Money damages can be granted against the insured to compensate the injured party

  7. Product Liability Insurance This type of insurance decreases risks associated with things like Design defects Manufacturing defects Marketing defects

  8. Cyber Risk Insurance When your business gets hacked, a device containing sensitive information is breached Cyber risk insurance could help meet the cost of restorative actions

  9. Commercial Auto Insurance It will protect employees and vehicles used for business purposes

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