Owning and operating a business comes with plenty of responsibility and accountability. In today’s uncertain world, technology and case law are constantly changing the liability landscape. Even if you operate with the utmost care, sometimes things do go wrong.
Under a general liability insurance policy, the insurer is obligated to pay the legal costs of a business in a covered liability claim or lawsuit. This policy offers the option of protection for bodily injury, property damage, advertising injury (damage from slander or false advertising) and personal injury to a third party for which a company is found to be legally liable.
The insurance company also covers compensatory and general damages. General liability insurance policies always state a maximum amount that the insurer will pay during the policy period.