General liability insurance can contribute to support legal and medical costs arising from bodily injuries as well as damages in respect of a property for which the company is legally liable.
What
does general liability insurance cover?
Commercial general liability insurance is a type of commercial
liability insurance that aims to protect companies of all sizes against financial
liabilities arising from various problems with third parties. It safeguards
employees as well as individuals from the costs of off-court settlements.
This insurance pays for bodily harm or property losses caused by
the policyholder to third parties up to the coverage limit. Commercial
general liability insurance typically covers all legal and judicial
expenses incurred in defending the claim.
Some of these liabilities are as follows:
- the
responsibility and upkeep of the premises
- the
operation or conduct of a business
- Manufacturing,
distribution, or sale of a product
- operations
completed
Hence, pays the insured to pay as the damage for bodily injury
or property covered by the insurance policy.
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