Posts tagged ‘Liability Insurance’

February 3rd, 2011

Get an Idea About Types of Liability Insurance

by Debbie Harry

Liability-insurance protects policy holder from the risks of liabilities that is imposed by the lawsuits. This policy is important for medical practitioners and business owners for those who may held legally liable for the injuries of others. There are many types of liability insurance, such as:

General liability insurance: This type of insurance protects business from injuries sustained by employees, damage caused by employees and other type of issues. A company is protected by this policy from third party claims.

Directors and officers insurance: Directors and officers of the companies are protected by this policy from lawsuits regarding their performance with in a company or organization. This insurance policy protects the company, in which responsibility of statements, actions, failure to take the right decisions is given to the officers and directors.

Employer liability insurance: Employer liability insurance policy is also called as workers’ compensation policy. This policy is compulsory for some businesses in some places. This policy provides the protection to the employer claims made by employee in case of accidents, injury or fatality that occurs to the employees, caused by performing duties of the job. It covers the cost of an employee’s medical expenses for injuries.

Professional liability insurance: This policy protects the professional practitioners from claims which are made by their clients or patients, if they get any financial loss or injury, because of those professionals negligence. Financial protection from lawsuits about their profession is provided by the pro liabilities insurance.

However, businesses or individuals are protected by the liability insurance from risk where they are highly vulnerable to lawsuits for their negligence or malpractice.

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January 17th, 2011

What is the Difference Between Public Liability Insurance and Employer’s Liability Insurance

by Jonathan Cogley

Public-liability insurance is an insurance which provides the coverage for claims brought against the insured by a third party. Any damage or injury to property, health or life as a result of the use of dangerous objects or work by them, then you can have public-liability insurance for all of them. This type of insurance is standard and necessary to businesses, which have the contact with general public. It also covers the third party property, while doing business.

Generally employers have certain responsibilities about their employees’ health and safety because they work for them. Employer liability insurance covers the cost of the compensation claims and legal fees and other expenses as well. Employees may try for compensation from employers, as they are responsible parties, if they experience injuries, illness or complaints while working either on or off site.

Public-liability insurance does cover the employees but it covers business against action from members of the public, businesses.

Where as employer’s liability insurance covers the claims which are made by the employees against the company.

There are some trades and professions which would benefit from taking out a combined public and employer’s liability insurance policies, such as: Builders, Cleaners, Plumbers, Landscape Gardeners, Electricians, Joiners, Aerial erectors, Steel erectors, Roofing, Hairdressers, Mechanics, Motor Trade, Garages, IT consultants, Corner shops, Fast food outlets, restaurants, Hotels, Tradesmen, cafes, etc.

Thus the above information is about difference between public liability insurance and employer’s liability insurance. Ultimately these two insurances are two separate and different policies.

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November 2nd, 2010

How to get a Comprehensive Commercial Liability Insurance

by Edwin Rosenthal

Generally, insurance coverage provides peace of mind for individuals as it helps them in adverse situations. Commercial insurance provides protection for your business. A commercial liability insurance protects your business from claims of different people such as third parties, employees etc. Any business can cause bodily injury or damage to property of others in its functioning.

A commercial liability insurance has many varieties such as public liability insurance, errors and omissions insurance, malpractice insurance, automobile insurance etc. Each policy has its own advantage. Here we will discuss about the what to check before taking a liability insurance policy.

One should not neglect the coverage limits: Insurance policy should provide adequate coverage for your business. Usually, you are protected by insurance policy. It protects when customers, contractors or others are injured in business premises or because of your property or products. So, you should have sufficient coverage for your business. Cost of legal representation and investigations are also covered by liability insurance apart from medical payments and settlements.

One can ensure the policy whether it is comprehensive or not by following conditions for the commercial liability insurance.

  • There should be a coverage for accidental damage or fire to rented property.
  • Injuries which result from fire or damage to rented property, should be covered by the policy.
  • Slander should be covered.
  • Coverage for accidents which occur on your owned or rented property.
  • Coverage for damage to neighboring property which can be caused by your negligence.
  • Coverage for injury or damage which are arisen by your product or service.

Sometimes, you may face risk because of your employees, you can expand the policy coverage for their actions, so you should have broad and sufficient coverage for your business.

Do not sign blindly: The important thing is one should understand the rules and terms of the policy. Before you make a sign on agreement, you should read that carefully to get the required protection or coverage.

You have to compare the prices and coverage with different insurance companies to get the best coverage of commercial liability insurance for low price.

The above information can help you to get the comprehensive commercial liability insurance for your business.