Your business runs like a fine-tuned machine most of the time, but sometimes there are challenges that you must overcome in order to keep your business running. One way to avoid these roadblocks is to have a properly set-up insurance and risk management program for your business, and the key to any program is liability insurance.
Commercial liability insurance is designed to cover any injuries caused by you, your company, or your products/services to a third party. For example, if one of your products were to injure a third party, liability insurance would provide coverage in case you were sued for damages. The injury does not need to be physical; it can also be financial. For example, if you are a software firm, the software you provide to a client is hacked due to poor security, and individuals suffer financial losses, liability insurance could provide protection from being sued. In most places in the world, some form and amount of liability insurance is required. However, it is important to work with an insurance professional who will help you understand your unique business needs and customize a program to protect you and your business.
We work with our clients to fully understand their business and their potential risk exposure; only then will we make recommendations. Contact us today to find out more.