MANAGEMENT

Detailed explanation-1: -Liability insurance is a policy that offers protection to businesses and individuals from risk that they may be held legally or sued for negligence, malpractice or injury. This insurance policy protects the insured from legal payouts and costs for which the policyholder is deemed to be responsible.

Detailed explanation-2: -For example, if a customer enters your flower shop, slips on your wet floor and breaks their leg, your general liability insurance can help cover the cost of their medical bills. General liability insurance does not cover your business’s employees.

Detailed explanation-3: -Liability insurance policies cover the insured against any claims arising out of bodily injuries and damages to the property of any person. Besides covering the legal costs involved, liability insurance provides coverage for payouts that the insured is legally liable to pay.

Detailed explanation-4: -Liability coverage pays for the policyholder’s legal responsibility to others for bodily injury or property damage. Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.