What is General Liability Insurance for Small Business?
How do small businesses get prepared for the unexpected? General Liability (GL) insurance protects your or your client’s businesses from liability arising from claims of damage or injury. Often, General Liability insurance is required by landlords, financial institutions, industry regulations, or even commercial clients.
General Liability insurance protects against a variety of claims including injuries or property damage arising from business operations. If someone falls while visiting your client’s location, or if a customer is hurt by a product they sell, they can be held responsible. A GL policy covers four categories of events for which your client could be held responsible:
- Bodily injury
- Damage to others’ property
- Personal injury, including slander and libel
- False or misleading advertising