Everything You Need To Know About General Liability Insurance
General Liability Insurance can provide your legal defense and help cover the cost of both actual and alleged claims against your business for bodily injury and property damage to others.
This coverage is intended for claims made by others, such as customers, clients, vendors, consumer, visitors, and the general public.
Generally speaking, someone else has to get hurt or someone else’s property has to get damaged for the general liability policy to respond.
General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business. Minnesota Insurance Group, Inc. recommends that all businesses have general liability coverage in place.
- Professional Liability Insurance (Errors & Omissions) Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. Minnesota Insurance Group, Inc. recommends that all professional and technology companies have E&O coverage.
- Employment Practices Liability Insurance (EPLI) Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, Minnesota Insurance Group, Inc. recommends considering this type of coverage.
- Directors and Officers Insurance (D&O) D&O insurance covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.
To find out more about these, as well as other business insurance products and services, call us and we’ll help make sure you’re properly covered.