General Business Liability
General business liability coverage includes bodily injury and property damage, personal and advertising liability, medical payments, and tenants legal liability.
Bodily Injury and Property Damage Liability
A typical loss in this area occurs when a visitor slips and falls in your retail shop or office building resulting in a lawsuit. Bodily injury liability protects your businesses if a third-party injures themselves while on the premises. This full coverage includes bodily injury to customers, staff, vendors, or visitors to a business and property damage caused by your employees. This protection will cover your legal fees if sued.
Personal and Advertising Injury Liability
If a staff member has an injury at work, a business is required to have adequate protection against any legal action and workers’ compensation. Advertising injury liability guards you from slander or false advertising against your business.
This coverage includes an injured party’s medical expenses, including dental expenses, physical rehabilitation, and any medical bills arising from a loss.
Tenants Legal Liability
Whether you’re an accountant or IT contractor, if you’re renting a property, your landlord requires indemnity coverage if the business owner or one of the employees causes physical damage to the building you are renting. This also covers bodily injury, property damage, medical payments, and advertising liability.
Directors & Officers Liability
This coverage is a great option if you have directors and other executives that run your company. If someone takes legal action against a director or officer, or their spouse, for wrongful actions, including defamation or wrongful dismissal, then a businesses’ legal fees would be covered.
When you think your business will need general commercial liability insurance above and beyond the standard professional policy limits, excess liability is the coverage for you.
Business Interruption Insurance
If your business is hit by a flood or storm and you’re required to shut down, business interruption insurance covers specific expenses for the period you’re shut down, including your employee salaries.
All businesses are at risk of a cyber disruption, whether it’s phishing, a password breach, or ransomware. Small businesses are no different, as their business operations present the same risks to cyber-attacks as a larger sized company. Why risk a devastating financial loss that could put you out of business.