Liability insurance is a type of insurance that protects the insured from being legally responsible for the damages and losses that they may cause to third parties.
There are many different types of liability insurance, which include but are not limited to General Liability, Employment practices liability, and professional liability.
General Liability Insurance is a type of coverage that can protect against almost any kind of loss or damage except those specifically excluded by the policy.
Employment Practices Liability Insurance covers employers for claims made by employees who allege that their employer violated employment laws.
Professional Liability Insurance provides protection for professionals such as lawyers, doctors, accountants, and architects who provide services to clients; it provides protection from malpractice claims made by clients or patients. Directors & Officers Insurance covers directors and officers in the event they
Is Insurance an Asset or Liability?
Insurance turns out to be an asset when you faced a risk covered in your insurance plan.
What do you Mean by General Insurance?
General Insurance or nonlife insurance is the insurance that covers all the types of properties and health excluding the life of the customer. General insurance includes products such as Home insurance, Automobile insurance, Property insurance, health insurance, Liability insurance, Marine insurance, and other miscellaneous insurance. All the general insurance policies would be underwritten only by the general insurance companies in India.
What is Public Liability Insurance?
Public liability insurance is a liability insurance policy in which the insurance company provides cover for any physical injury as well damage to the property of third parties caused due to the negligence or accidental way of the policyholder.It is commonly known as Commercial General Liability (CGL) which covers both the Product liability as well as the Public liability.
What is Liability Insurance?
Liability insurance is a type of insurance that offers protection to businesses and individuals from risk that they may be held legally or sued for negligence, malpractice or injury. Liability insurance protects the insured customers from legal payouts and costs for which the policyholder is deemed responsible. Liability is the responsibility of the insured customer for the damages caused to the third party due to the negligence, malpractice or injury.