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Liability insurance is often misunderstood. There is sometimes good reason for this. Insurance representatives, advertising and word-of-mouth information can be more confusing than helpful. Understanding what liability insurance protects, circumstances that might trigger the need for this protection, and how it works will help you to... more »
Business liability insurance protects a business in the event that a client or customer files a lawsuit against it. This kind of insurance typically covers monetary damages and legal fees. more »
Contract business owners know that accidents can happen even in the best situations and with the best planning. In addition, a variety of situations can lead to on-the-job injuries and accidents. Because of all of these possibilities, it is important for contract business owners to have general liability insurance, to protect... more »
Limited liability insurance only covers a business owner for the amount of the company or partnership that they actually own. This limits their exposure to risk to a fixed portion of the asset in question, reducing both the amount of money that they need to pay for insurance and how much is paid out in case the policy is actually... more »
Business liability insurance is typically divided into three categories. General, professional and product liability insurance are designed to protect against loss in business operations. more »
While insurance isn't always required in order to run a business, you should consider getting...
If you are in the market for a car insurance for the first time, it is important that you...
One of the most important thing a person can have that tends to go overlooked is insurance. Be...
Employment practices liability insurance, also known as EPL, is a new type of insurance created to protect employers from claims initiated by... more »
Almost everything you do, from driving your car to running a business, exposes you to potential liability for your actions. Liability simply means... more »
Liabilities for small businesses can be widely varied. For instance, your product may injure a client, your business may operate in what is seen... more »
You've decided to break away and start your own business. Good for you. Now it's time to take a look at the expenses you'll entail as a business... more »
Liability insurance provides financial protection to individuals, businesses and organizations that are at risk of being sued for potentially... more »
Liability insurance is necessary for any business owners who want to protect their investments from natural and man-made damage. Ad agency owners... more »
Liability insurance is a part of the general insurance system of risk financing. Originally, individuals or companies that faced a common peril, formed a group and created a self-help fund out of which to pay compensation should any member incur loss. The modern system relies on dedicated carriers to offer protection against specified perils in consideration of a premium. Liability insurance is designed to offer specific protection against third party claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. In general, damage caused intentionally and contractual liability are not covered under liability insurance policies. When a claim is made, the insurance carrier has the right to defend the insured. The legal costs of a defense are not always affected by any policy limits, which is useful because they can be significant where long trials are held to determine either fault or the amount of damages.
Overview of liability insurance
In many countries, liability insurance is a compulsory form of insurance for those at risk of being sued by third parties for negligence. The most usual classes of mandatory policy cover the drivers of vehicles, those who offer professional services to the public, those who manufacture products that may be harmful, constructors and those who offer employment. The reason for such laws is that the classes of insured are deliberately engaging in activities that put others at risk of injury or loss. Public policy therefore requires that such individuals should carry insurance so that, if their activities do cause loss or damage to another, money will be available to pay compensation. In addition, there are a further range of perils that people insure against and, consequently, the number and range of liability policies has increased in line with the rise of contingency fee litigation offered by lawyers (sometimes on a class action basis). Such poli read more at » http://en.wikipedia.org/wiki/Liability+insurance
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