Liability insurance is designed to protect the business against losses even if they are negligent or liable for damage, injury or loss to another's property, reputation, or health. Typically, damages, legal defense fees and settlement charges are paid by the insuring company when a claim is filed against the business.
Bodily Injury - Liability coverage may pay the affected person or firm for the cost of care, the loss of services and restitution for death that results from an injury.
Property Damage - In the event your business causes damage to, or causes the loss of use of someone else's property, property damage coverage may pay for the value of the physical damage to the property; or the loss of use of that property.
Products and Completed Operations
A policy may provide coverage for your company's completed products or services. If an injury occurs due to the use of your products or services provided, the policy would pay for the resulting damages and any legal expenses up to the policy limits.
Most General Liability policies provide coverage if you are accused of:
- Publishing inaccurate information that slanders or libels a person or organization;
- Publishing material that violates a person's right of privacy;
- Falsely arresting, detaining or imprisoning someone;
- Maliciously prosecuting someone;
- Wrongfully evicting someone.
- Advertising Injury
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