Business Insurance
General Liability Insurance
General liability insurance is crafted to shield operators and company owners from a range of potential claims stemming from various sources. These exposures encompass a wide array of scenarios, including liability arising from accidents during the insured party’s operations, contractual obligations, and products manufactured by the insured party.
As a component of the general insurance system for risk financing, liability insurance serves to protect the purchaser (the “insured”) against the risks of liabilities imposed by lawsuits and similar claims. It functions to provide coverage in the event that the insured is sued for claims falling within the policy’s coverage.
Liability insurance is specifically designed to offer protection against third-party insurance claims. Payments are typically made not to the insured party but to someone suffering a loss who is not a party to the insurance contract. Generally, intentionally caused damage and contractual liability are not covered under liability insurance policies. When a claim is filed, the insurance carrier has the duty and right to defend the insured. Legal costs associated with defense usually do not impact policy limits unless expressly stated otherwise in the policy. This default rule is beneficial as defense costs can escalate, particularly if cases proceed to trial.
Our General Liability Insurance goes beyond the basics, offering coverage for legal defense costs and settlements. From slip-and-fall accidents to product liability claims, our policies are designed to provide comprehensive protection. At LRM Insurance Services, Inc., we understand that each business is unique, and our coverage can be customized to suit the specific risks associated with your industry.
Don’t let unforeseen accidents or legal disputes jeopardize the success of your business. Our General Liability Insurance provides a safety net, allowing you to focus on what you do best – running your business. Explore the robust protection offered by our policies and secure the foundation of your business.
