Public Liability:
Public liability insurance covers businesses against claims for injury or damage suffered by third parties as a result of the business's operations. This can include:
Injuries on Premises: If a customer slips and falls in a store or on a business's property
Damages Outside the Premise: If an employee accidentally damages a client's property while providing a service.
This insurance helps cover legal costs and compensation claims resulting from incidents involving the public.
Products Liability:
Products liability insurance protects manufacturers, distributors, retailers, and others involved in the production and sale of products from claims arising due to defective or unsafe products. It covers
Defective Products: If a product is found to have manufacturing defects, design defects, or fails to include adequate warnings or instructions, leading to injury or damage
Legal Defenses: Coverage for legal fees when defending against product liability claims
These insurance types are crucial for businesses to mitigate financial risks associated with accidents or damages that could arise from their operations or products. It's essential to review the specific terms and conditions of each policy, as coverage can vary widely.