The directors and officers of a company put in their best efforts to ensure the organization’s growth and profitability. However, if they make any errors when discharging their duties or if they are negligent, third parties might suffer a financial loss. If attributed the such financial loss to the actions of the directors and officers, […]
Articles Tagged: Liability Insurance Policy
Case Studies in D&O insurance
The directors and officers liability insurance, also known as D&O policy, is a liability insurance that offers coverage for the personal liability of directors and officers. This liability may arise due to wrongful acts done by them in their managerial capacity. The defense costs are covered and payable in advance under this policy before the […]
What is covered under a directors and officers Liability Insurance Policy?
D&O Liability Insurance Policy (D&O) covers the cost of legal defense of directors, even in their individual capacity, when the company is unable to defend them. The D&O cover applies to former, present, and future members of the board of directors or any employee performing a managerial role. Usually, the directors’ and officers’ liability Insurance […]
What are the different types of Business Insurance for small businesses?
Business insurance, also referred to as commercial insurance policy, is a combination of insurance plans catering to a multitude of business needs. Based on the type of activity in the firm, any or multiple of the following different business insurance policies can be bought: Office Premises / Shop Insurance Stocks / Goods (Raw, in process, […]
Small business owners covering legal fees in the case of a lawsuit
Businesses these days are vulnerable to many lawsuits regardless of the location or industry. Small business owners are frequently involved in defending against claims and lawsuits arising from their business operations. While doing business, small businesses interact with clients, vendors, employees, and contractors. Any one of them can claim that a particular incident caused them […]
What Kind of Liability Insurance Does a Consultant Need?
Need for Liability Insurance coverage for Consultants Various companies hire consultants and avail their services for the growth of their business. Further, many professionals open their consultancy firms and often work either out of home or from an office suite. As a consultant you or your employees would be offering a service or imparting advice […]
How Much Cover Should You Take in Public Liability?
The amount of public liability cover you need depends on the kind of business you do and what kind of coverage your clients are expecting. Further, while deciding on the cover, you should think about the scale of work you do. Along with the possible compensation amount that you would have to pay in case […]
What Does General Liability Insurance Policy Cover for Contractors?
In the case of contractors and those who are involved in construction businesses, a general liability insurance policy covers the cost of lawsuits that are filed by third parties over bodily damage or property injury caused by their business or any of their employees. It means, if your construction business is sued, you would have […]
Does General Liability Insurance Covers Property Damage?
Yes, commercial general liability insurance also covers property damage. A typical commercial general liability insurance covers loss or damage which may arise due to bodily injury or property damage for which your business may be responsible for paying. Overall, commercial general liability insurance offers coverage in case of bodily injury and property damage for which […]
What is Product Liability Insurance Policy?
Product liability insurance is a policy that indemnifies the distributor, wholesaler, and retailer against various losses or damages which could arise out of the consumption or use of products manufactured, sold or distributed by them. As a manufacturer who is supplying products, you always deal with the risk that your products could cause loss or […]