In this increasingly litigious world, people are very aware of a business’s responsibilities and duties of care on its employees, customers, visitors and the general public. And when accidents happen, or things go wrong, and a lawsuit follows, the awards for serious injuries can be enormous. If the lawsuit is brought in the US, awards are significantly higher and, especially where punitive damages are awarded, can run into millions of dollars – never mind the associated legal expenses and defence costs.
Commercial general liability is a form of insurance designed to protect business owners and operators from a wide variety of liability exposures which are predominantly based in tort law, that occur because of bodily injury, personal injury or property damage. These risks could include liability from accidents which have happened on your business’s premises or its operations, work completed or contractual liability. Bodily injury could be a slip and fall on an icy parking lot, property damage could be a plumber failing to seal a fitting causing the hardwood floors to be damaged, and personal injury could be wrongful arrest for shoplifting.
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