What is Business Liability Insurance?

Business Liability Insurance (also known as Commercial Liability insurance) is a type of insurance designed to protect businesses from financial losses and legal liabilities arising from third-party claims.

It provides coverage for businesses from paying compensation to a third party in the event of personal accidents, injury, or property damage resulting from covered business activity and manufactured or supplied products.

What does Business Liability Insurance cover?

It covers you and your business from the high costs of legal action, lawsuits, legal defense costs, settlements, and judgments in cases where the business is held liable for bodily injury, property damage, or other harm caused to third parties, such as following:

  • Personal accidents
  • Slips and falls on your premises
  • Injury caused by you or one of your employee’s negligence
  • Damage to a third party’s property
  • Faulty or defective products – manufactured and/or supplied by you
  • Workers’ compensation recovery claims for labour-hire employees/contractors
  • Defending legal fees

Working with an Insurance Broker and Risk Adviser will protect your business and ensure you have the right insurance cover in place.

Austbrokers can offer you trusted insurance advice to all your insurance needs, guidance, and long term support. Find out how Austbrokers can help you today!

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