Depending on its business needs, a company may need to name other companies or persons as "additional insured" under its commercial liability insurance policy.7This is common when businesses enter into a contract with another entity. For example, if an automobile repair garage enters into a contr...
Business liability insurance protects a company’s assets andpays for legal obligations, such as medical costs incurred by a customer who gets hurt on store property, as well as any on-the-job injuries sustained by employees.1 Businesses that tend to carry higher risks than traditional liability ...
The court says that the property damage should be considered an occurrence under its Commercial General Liability (CGL). It mentions that the case was appealed and that the Mississippi Supreme Court disagreed with the lower court's interpretation of the insurance policy....
Product liability insurance is crucial protection against financial lossesfor small businesses operating on tight margins. Without it, a single product liability claim could lead to bankruptcy. Product liability insurance covers various potential issues, from design defects to negligence. For example:...
Why CBD Insurance Is a Necessity for Product Liability Claims A long list of businesses fall into the high-risk category, including: online gaming services, vaping/e-cigarette companies, and the adult toy industry, to name a few. Since CBD is a compound that is produced in abundance ...
capital structureinsurancerisk-sharingsolvencyProviding risk-sharing benefits to risk-averse policy holders is a primary function of insurance companies. We model that policy holders are paying a fee over tVan Hulle, CynthiaDegryse, HansSmedts, Kristien...
On average, a small business might spend thousands of dollars per year on business liability insurance and business property insurance. The average annual cost of business property insurance is $800, while the average annual cost of general liability insurance is $805. But if you’re looking to...
Commercial general liability insurance provides the insured with coverage for common liabilities. It covers your legal fees in the case of lawsuits and pays out damages on your behalf if you’re found liable, up to the maximum limit set by your business insurance policy. Almost all businesses in...
Commercial General Liability protects businesses against these types of claims. Even if your company is negligent or liable for damage, injury or loss to another's property, reputation or, your business can keep its assets if it is adequately insured. ...
First, media liability underwriters realised that by advertising and selling on the internet, thousands of businesses became publishers, potentially subject to liabilities that were not covered by their general liability insurance but by media liability insurance. These underwriters developed new insurance ...