Any firm involved in product manufacturing and sale can be the subject of a product liability claim. When a firm receives a product liability claim, it means that someone has filed a claim against the firm alleging that a product it made and sold is defective. The claim can say that such a defective product […]
What is Occurrence-Based Malpractice Insurance?
An occurrence-based malpractice Insurance, which comes under a commercial general liability policy, protects the policyholder from a covered incident that ‘occurs’ during the tenure of the policy, irrespective of the fact when the claim is filed. It means an occurrence-based policy will cover those claims as well which arise even when the policy had canceled […]
What are the duties of Insured under product Liability Insurance?
Product liability insurance plays an important role in safeguarding the business from various claims which may arise in respect of its products and services. So, what are the duties of the Insured under Product Liability Insurance? Key Takeaways Strict Communication Timelines: Policyholders must act quickly when a problem arises, as it is mandatory to inform […]
How Much Cover Should You Take in Public Liability?
The amount of public liability cover you need depends on the kind of business you do and what kind of coverage your clients are expecting. Further, while deciding on the cover, you should think about the scale of work you do. Along with the possible compensation amount that you would have to pay in case […]
What damages are covered by a Commercial General Liability policy?
An organization interacts with its employees, contractors, clients, vendors, and other parties during its course of business operations. If any of these parties suffer an injury or loss due to the business premises or its operations, a claim can be filed for the same. Having a commercial general liability or CGL Insurance can help protect […]
What is Liability Insurance?
Liability insurance is a part of commercial insurance which is there to protect the purchaser of the policy (i.e. policyholder). Various risks of liabilities can arise from lawsuits and similar claims. There are various types of liability insurance policies, like cyber risk, directors’ & officers’ liability insurance, product liability, etc. Commercial general liability insurance is […]
What are the different types of liability insurance?
A liability insurance policy offers to cover business owners, professionals, and self-employed people against the cost of compensation claims due to malpractice, injury, or negligence. So, let’s discuss what are the different types of liability insurance policies. Key Takeaways Targeted Corporate Risk Transfer: Modern underwriting requires highly specific solutions, meaning different types of coverage cater […]
What are the duties of Insured under Commercial Liability Insurance?
Commercial Liability insurance policies are an important protection for corporate policyholders. They are known for providing defense and indemnity coverage against claims for bodily injury and property damage. This policy outlines the major duties of an Insured under Commercial Liability Insurance. Key Takeaways The Power of Timely Notification: Managing claims effectively starts with clear communication, […]
What Does General Liability Insurance Policy Cover for Contractors?
In the case of contractors and those who are involved in construction businesses, a general liability insurance policy covers the cost of lawsuits that are filed by third parties over bodily damage or property injury caused by their business or any of their employees. Key Takeaways Comprehensive Litigation Safeguard: Contractors face significant risks on job […]
What is limits of insurance in Commercial Liability Insurance?
Commercial Liability Insurance policy has declaration of different limits. Even though the limits are separate, they stand inter-connected and hence knowledge of the same becomes vital. Insurance holders should understand how the limits of liability apply in the commercial general liability policy. Key Takeaways The Interconnected Cap Architecture: Managing corporate liability requires keeping distinct coverage […]