Your business's legal liability for injury to a third party may fall under one of a variety of insurance policies. Here is a quick look at some of the most common liability protections business owners may need.
• Employers liability and workers compensation insurance provide coverage for an employee's work-related illness, injury or death.
• Product liability insurance covers the manufacture and sale of products in the general marketplace and injury or death caused by a defect in these products.
• Directors and officers liability insurance protects against claims that your board of directors or officers have failed in their duties.
• Umbrella liability insurance is designed to protect against catastrophic losses and can reach over and beyond the underlying limit of liability on a policy for a severe loss.
• Professional liability insurance covers losses arising from failure in the performance of professional duties or rendering negligent professional services. Talk to your agent for a full analysis of which coverages are recommended for your business.