business liability insurance

business liability insurance business liability insurance insurance

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business liability insurance UK US noun [U]
INSURANCE insurance taken out by a company to protect against injury or damage caused by a problem with a product or a failure by an employee: »

Every business owner should shop for the best business liability insurance rates and coverage.


Financial and business terms. 2012.

Look at other dictionaries:

  • Business Liability Insurance — Insurance that protects a company and/or business owner in the event of a formal lawsuit or other third party claim. Coverage includes any financial liability incurred in addition to expenses related to the company s legal defense. There are… …   Investment dictionary

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  • Liability Insurance — Any type of insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence. Liability insurance policies cover both legal costs and any… …   Investment dictionary

  • Professional Liability Insurance — Insurance that protects professionals such as accountants, lawyers and physicians against negligence and other claims initiated by their clients. It is required by professionals who have expertise in a specific area because general liability… …   Investment dictionary

  • Professional liability insurance — (PLI), also called professional indemnity insurance (PII) but more commonly known as errors omissions (E O) in the US, is a form of liability insurance that helps protect professional advice and service providing individuals and companies from… …   Wikipedia

  • public liability insurance — UK US noun [U] INSURANCE ► insurance that a business must have so that if it is responsible for hurting someone or causing damage to their property, it can pay them compensation : »The subcontractor must produce evidence that he possesses both… …   Financial and business terms

  • public-liability insurance — An insurance policy that pays compensation to a member of the public and court costs in the event of the policyholder being successfully sued for causing death, injury, or damage to property by failing to take reasonable care in his or her… …   Big dictionary of business and management

  • products liability insurance — Insurance that gives protection against legal liability for injury to third parties or damage to their property, arising out of products supplied by the business. Practical Law Dictionary. Glossary of UK, US and international legal terms.… …   Law dictionary

  • public liability insurance — Insurance that gives protection against legal liability for injury to third parties or damage to their property, arising out of and in the course of the business excluding injury or damage resulting from products supplied. Practical Law… …   Law dictionary

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