Public Liability and Product Liability insurance
Public Liability and Product Liability insurance are both essential types of business insurance that protect companies against financial loss in case of injury, damage, or loss caused to third parties due to the company’s products or services. Public Liability insurance specifically covers claims arising from accidents, injuries, or damages caused by a business’s operations, products, or services. Product Liability insurance, on the other hand, provides coverage against claims arising from defective or faulty products sold or supplied by a business.
- Public Liability insurance policies typically cover claims made by third parties for bodily injury or property damage that arises from the business operations. This can include slips, trips, and falls on the business premises or damage caused by the business operations.
- Product Liability insurance policies, on the other hand, provide coverage for claims made against the business for bodily injury, property damage or financial loss that arise from a faulty or defective product that the business has manufactured, distributed or sold.