|
No business can afford to be unprepared for a lawsuit. Liability insurance protects
your business assets when the business is sued for something the business did (or failed
to do) that contributed to injury or property damage to someone else. Liability coverage
extends not only to paying damages but also to the attorneys' fees and other costs
involved in defending against the lawsuit - whether valid or not.
The standard business owners policy provides liability coverage, as does a separate policy
known as a commercial general liability (CGL) insurance policy. Generally, commercial
liability insurance, whether purchased in a separate policy or as part of a standard
business owners policy, will cover bodily injury, property damage, personal injury or
advertising injury. The medical expenses of a person or persons (other than employees)
injured at the business or as a direct result of the operations of the business are also
covered.
Usually excluded from both types of liability insurance policies are suits by customers
against a business for nonperformance of a contract and by employees charging wrongful
termination or racial or gender discrimination or harassment.
Check with your LPL Insurance agent about the best liability protection covering all types of situations
that may arise in your business.
Click HERE to return
to our Business Insurance Section
|
