What Does General Liability Insurance Cover - PowerPoint PPT Presentation

About This Presentation
Title:

What Does General Liability Insurance Cover

Description:

There are such examples which does covered in general liability insurance. Here are some of the events which are covered under General Liability Insurance. – PowerPoint PPT presentation

Number of Views:521
Slides: 8
Provided by: nationalida
Category: Other

less

Transcript and Presenter's Notes

Title: What Does General Liability Insurance Cover


1
What Does General Liability Insurance Cover?
2
General liability insurance provides coverage for
  • Third party bodily injury.
  • Third party property damage.
  • Product liability.
  • Libel, slander, and copyright.

3
Third party bodily injury
  • If a customer is hurt on your property, general
    liability insurance can help pay for immediate
    medical expenses or legal expenses if they charge
    your business.
  • Example A customer slips on a freshly mopped
    floor and breaks his leg. The doctor's bills and
    time off work add up fast, so the customer sues
    to recoup his losses. Your policy can cover the
    cost of your customer's immediate medical
    expenses, such as the ambulance ride and
    emergency room visit. If a customer refuses your
    assistance and selects to charge at a later date,
    your policy can help cover the cost of hiring a
    lawyer to negotiate and settle the case or take
    it to trial.

4
Third party property damage
  • General liability insurance can cover costs to
    repair or replace customer property that is
    damaged in a business.
  • Example An employee accidentally falls coffee on
    a client's 4,000 laptop, making it impossible.
    Depending on policy limits, business liability
    insurance can cover some or all expenses
    associated with replacing the damaged laptop.

5
Product liability
  • Not all property damage or customer injuries
    happen inside a store. If a business
    manufactures, distributes, or sells products, it
    can be charged over the damage those products
    cause to people or property.
  • Example A customer buys and eats a stores
    signature salsa. Shortly after, she falls
    seriously ill and misses three days of work. She
    thinks the salsa is to blame, so she charges the
    salsa business for lost wages. General liability
    policies can typically cover the legal expenses
    associated with product liability lawsuits.

6
Libel, slander, and copyright (advertising injury)
  • If someone charges a business owner or employee
    over insult or copyright violation, general
    liability insurance can help pay for claim
    expenses.
  • Example An employee at a photography studio
    jokingly tweets that the owner of a competing
    studio is guilty of tax evasion. The tweet goes
    viral, and the owner of the competing studio
    decides to charge for libel. Advertising injury
    coverage in business liability insurance can help
    pay for legal defense expenses and settlement or
    judgment costs when you're charged over
    advertising mistakes.

7
  • The IDA provides Commercial Auto and General
    Liability Insurance, Business Formation and Route
    Re-engineering support for large brands.
  • For more information visit
  • https//www.nationalida.com/
Write a Comment
User Comments (0)
About PowerShow.com