General liability insurance
Both general liability and professional liability are types of liability insurance that cover the business risks faced by small technology and IT businesses. They differ in the types of liabilities they insure against.
General liability insurance is included in a business owner's policy (BOP), a cost-saving bundle designed for low-risk businesses. General liability covers bodily injuries, damage to a customer's property, and advertising injuries. A BOP provides the same coverage, along with commercial property insurance.
Errors and omissions insurance (E&O) and general liability insurance are types of liability insurance that protect your business in different ways. Let’s look at why so many small business owners buy both types of insurance coverage.
Commercial insurance protects businesses, freelancers, and independent contractors against liability lawsuits, property damage, cyberattacks, and other risks that could devastate your company.
Every liability insurance policy is different. Who is covered by your liability insurance depends on a few factors, including the type of insurance and any modifications made to the policy.
Online businesses face numerous risks that could lead to severe financial losses. These three online business liability insurance policies can help protect your company.
Even if you’ve done nothing wrong, someone can still sue your IT business. Learn how to prepare for this possibility.
Typically, you need to contact your insurance carrier directly when you want to file a commercial insurance claim. But the steps you take may differ based on whether you're filing a property claim or a liability claim.
Learn how to protect your consulting business by understanding the liability risks and taking steps to safeguard your assets.
A duty to defend clause in your liability policy means your insurance company must work out the details of your legal defense.
When you have vicarious liability for something, it means you could be held legally responsible for any resulting harm even though you didn't directly cause it. For example, a tech company could be held accountable for the actions of an employee.
A tortfeasor is a business or individual accused of a tort, which is an act that harms another entity. Torts are often unintentional, but the tortfeasor can still be held liable for damages.
A tort is defined as a wrongful act or omission that harms a business or an individual. They often lead to lawsuits.
An insurance renewal is the end of the term of your policy, at which point, you'll need to determine if you'd like to continue under the same policy with the same insurance carrier.
