Liability Insurance Business Law. Business owner’s policy offers general liability insurance coverages, and it covers buildings and business property against damage or loss. Liability insurance offers protection against tort law cases, including legal representation in such cases.
Errors and omissions insurance covers experts in case they make a professional mistake or miss a deadline that negatively impacts a client. Small business liability insurance is a type of commercial insurance available for certain businesses. What types of business insurance are required by law in the uk?
Farmers insurance ® agent art rusak of chicago, illinois, discusses the requirements for business coverage.
This insurance product is most commonly called public liability insurance. The only type of business insurance that is mandatory under uk law is employers’ liability cover, which is a legal requirement for most businesses that employ staff, even on a casual basis. Accidents, natural disasters, and lawsuits could run you out of business if you’re not protected with the right insurance. If you have employees, the law in most states says you must have workers’ compensation insurance.