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Business Liability Insurance Products

Business liability insurance products are a company’s first line of defense against potential lawsuits. Commercial and general liability insurance, employment practices liability insurance and professional liability insurance are all designed to reduce a company’s risk regarding legal claims.

General Liability Insurance

This form of insurance protects you from property damage and bodily injury claims that may occur on your property or in direction relation to the services your company provides. General liability insurance is a company’s best protection against lawsuits. Examples of situations which might require general liability protection include:

  • A client slipping or falling on your company premises.
  • An employee damaging something within client’s home during a home visit.
  • A client’s property being damaged while in a company’s possession.

All companies should have general liability insurance, though appropriate coverage is based on risk.

Employment Practices Liability Insurance

Employment practices liability insurance protects you from a variety of employee-related claims. In an increasingly litigious society, employment practices insurance is critical for a company’s protection. Employment claims may include:

  • Employment discrimination.
  • Wrongful termination.
  • Sexual harassment.
  • Invasion of privacy.
  • Breach of contract.

Lawsuits in the above areas can be extremely financially damaging to a company without insurance, and the risk of these types of legal claim generally go up with the environment rather than with the company’s practices.

Professional Liability Insurance

Also known as Errors & Omissions insurance, professional liability insurance protects a company or professional from mistakes they may make when giving professional advice or service. Commonly used by medical professionals and legal professionals, professional liability insurance is extremely important for protecting anyone from unintentional damages they could potentially cause against their clients.

Industries that commonly emphasize professional liability insurance include:

  • Consultants.
  • Brokers.
  • Lawyers.
  • Architects.
  • Accountants.

Everyone makes mistakes from time to time, but without errors and omissions insurance a professional may be responsible for the total amount of damages.

For more information about business insurance products contact theĀ Pierce Insurance Group, covering residents in and around the communities of Collin County, Texas.