Professional Liability vs. General Insurance Liability
As a business owner, having coverage against liability is not a luxury. Both General Liability Insurance and Professional Liability Insurance can offer the needed coverage for your business and employees, but the two policies are quite different. General Liability Insurance is a type of insurance policy that protects a business from damages that resulted from someone getting injured on the premises of the business. It covers the cost of property damage, bodily injury, medical expenses, defense, libel, slander, judgments and settlements which resulted from someone getting injured in the business facility. Professional Liability Insurance protects businesses in the event that they are sued due to malpractice, error or negligence in the services rendered to a customer. It covers the costs of settlement, defense, and judgment. Typically, this coverage applies to professions where a professional code of conducts exists or where there are standards which are used in measuring and ev