Liability Insurance
Coverage that protects businesses from financial losses if they are found legally responsible for injuries, damages, or other harm
Detailed Explanation
Liability insurance pays for legal defense costs, settlements, and judgments up to the policy limits, helping businesses survive lawsuits and claims that could otherwise be financially devastating.
Practical Example
A customer is injured while visiting a business and sues for medical expenses and pain and suffering. The business's liability insurance covers their legal defense costs and the settlement paid to the injured customer.
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