Liability insurance is one of the most important insurances and essential for companies and self-employed entrepreneurs. It can be costly if you accidentally destroy something, or if your products or services cause damage. Let us help you find the right liability insurance for your business.
Liability insurance is the financial backbone of the company
Imagine that you are manufacturing a product that causes damage or that you as an advisor or consultant advise your client into a situation that ends up being harmful. Situations may arise in your business operations where you are liable to compensate damages and it can be difficult to predict an accident or mistake.
With our liability insurance, we will help you investigate whether your company is liable for indemnification and negotiate with the injured party. If necessary, we pay the attorney and litigation costs to solve your claim. If you are found liable and have to pay compensation, the insurance will cover for the settlement costs.
Liability insurance is there for you, in case your company is liable for an accident, so that you don't have to worry about costly legal proceedings or damages.
Your customers may require liability insurance
Your customers, or potential customers, can demand that your company has liability insurance. In certain industries, it is a great advantage to be able to prove that the company has liability insurance. The insurance creates security both for you and for the customer.
The liability insurance covers if your company receives a claim as a result of injuries or damages to persons or their assets.
An example could be that you or an employee destroys something when working for a customer, or a customer is injured whilst visiting the company.
It is important to have protection if the company's goods, products, or services cause damage and claims. This applies to all products that your company sells.
Liability insurance helps the company if an accident or error occurs which leads to the company receiving a compensation claim. Liability insurance can help the company with investigation and negotiation, as well as lawyers who handle the case for you. Furthermore, liability insurance covers the payment of any claim. The insurance applies for property damages and personal injury claims.
Example 1: Claims as a result of an accident
You own a store and have just washed the floor when a customer enters and slips on the wet floor. If the customer is injured, the company may be liable for the damage. Such damage can be costly if the customer requests compensation.
Example 2: Claims against a real estate agent
You work as a real estate agent and write incorrectly in the sales prospectus that an apartment comes with a parking space. This did not turn out to be the case. The loss this entails is covered by the professional liability insurance.