From a business perspective, most business owners and company heads are familiar with professional insurance for their contracting or professional work, otherwise known as errors and omissions coverage. However, the risk of public liability is also present for the average company, and can bankrupt a good business with one or two bad lawsuits.
Public liability: What you need to know
A business or individual contracting himself as a professional business is responsible for all of its actions and production, even for those effects that result in personal injuries or loss. For products, most people are familiar with product liability, but a business can also be responsible for any injury its activities or services cause as well.…
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Even as we’re starting to see the early stages of an economic recovery, businesses and individuals continue to trudge through the ugly legal fallout of deals-gone-bad. Countless lawsuits have resulted from soured joint ventures, alleged breaches of contract, and plain old disputes over who owed what to whom. These lawsuits can be costly, time-consuming, and counterproductive. Worst of all, they can distract you from what’s truly important: tending to your business’s current needs and helping it survive-and thrive-for the future.
