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Professional Liability Insurance For Small Businesses Pennsylvania Car Insurance in creating a Georgia business plan is to ensure that you have adequate liability insurance coverage. Liability insurance protects a business owner or employee against claims made by other people or businesses. It also covers legal costs and settlements that are the result of accidents or malpractice. In the event that a lawsuit is brought against you, your company's liability insurance will provide financial protection. You can find liability insurance that has been tailor made to meet the needs of individual businesses. A good way to compare the various policies available is to contact a professional agent. General liability insurance in Georgia is regulated at the state level. The requirements for liability insurance vary from state to state. It is important to understand what you need to carry in your policy. Contact a qualified agent to discuss what your policy should contain. Liability insurance is designed to protect against unexpected injury or damage to a business or individual's personal assets. It is a tool that can be used to protect against unexpected tragedy. It is also a tool that can be used to protect an employee from being personally liable for the actions of his or her employer. Personal insurance can be purchased separately for each employee; however, liability policies are mandatory for all employees of a company to maintain. The types of situations that require the purchase of general liability insurance in Georgia include advertising or marketing of products or services, or working on or using machinery that creates a risk of harm to individuals. It can also cover medical and dental expenses that are the result of personal injury or property damage. Geico is a company that provides many liability insurances. All of their policies are designed to meet the needs of a wide variety of businesses and individuals. General liability insurance is typically required when a company engages in any trade or activity that creates a potential for injury or damage. This means that virtually any activity that involves contracting with clients, employees, customers, suppliers or others can potentially create a claim for compensation. The Georgia Department of Insurance has formulated a list of examples that are commonly included in liability insurance policies. These include professional negligence claims that result from an injury that was sustained while operating a vehicle, defective products that create a risk of injury or damage, theft from or damage to a customer's property and advertising or marketing claims that result from statements or actions that present a danger to consumers. Because liability is such a broad subject, it is important to know just what your options are. General liability insurance is designed to protect you in situations where you have been injured due to negligence or wrong doing on the part of a third party. This insurance protects you not only from direct costs related to injuries, but also from indirect costs that occur because a client, customer, supplier or employer damages your property or suffers an injury as a result of your activities. If you operate a manufacturing company, the general liability clause in your business insurance policy may protect you from losses suffered by a worker who is injured on the job, as well as from losses suffered by the company if a product defect causes an injury. If you have a bar or restaurant, your liability protection may protect you from liability that results from injuries caused by alcohol abuse or sexual harassment. Your policy should provide a full explanation of the types of general liability that are covered, along with a summary of those types of incidents that are covered. For example, you may be protected from liability resulting from: negligence, failure to perform a needed action, errors or omissions, advertising or marketing claims, negligence, strict liability, and premises liability. It is important that you understand the conditions of your policy carefully and that you familiarize yourself with the various elements that constitute each element. Because professional indemnity insurance policies vary so much in detail, it is often a good idea to consult with a professional before purchasing a general liability policy. A qualified attorney can explain the various components of a policy and help you understand whether a particular item is considered a standard element or a common element. Georgia has some unique professional and business liability law that protects against: advertising claims, negligence, strict liability, and premises liability. You can find out more about these areas of the law by contacting an attorney. In most instances, attorneys will be able to explain to you what is required for your business to be protected by these statutes. These statutes can prevent you from paying high costs or excessive amounts in order to protect your business. If you are the owner of a small business, it is especially important for you to have the right type of insurance in order to protect your business, your finances, and your employees.
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