MANAGEMENT

Detailed explanation-1: -Product liability insurance is designed to protect you and your company against legal and financial responsibilities that may arise as a result of allegations that a product you manufactured or sold caused physical harm or property damage to someone else’s belongings.

Detailed explanation-2: -Liability insurance coverage protects you financially if you’re responsible for someone else’s injuries or property damage. Liability coverage comes standard with most vehicle and property insurance policies, including auto and homeowners insurance.

Detailed explanation-3: -Who Should Buy Liability Insurance? The policy is designed for companies or individuals who are held legally liable for injuries or other issues. This type of insurance policy is most suitable for doctors, hospitals, business owners, etc.

Detailed explanation-4: -Liability insurance protects you from financial obligations resulting from any incidents that happen on the premises of your industrial setting. Companies are required to have this extensive liability insurance to protect themselves from claims of property damage or bodily harm arising out of their operation.