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Professional liability insurance covers liability for damages arising from the rendering of or failure to render professional services. Protect yourself and your business from claims not covered by commercial general liability coverage. Professional liability insurance, also referred to as professional indemnity insurance, protects professional personnel against negligence claims made by their patients or clients. Professionals who commonly turn to this type of liability insurance for coverage include architects, home inspectors, lawyers, physicians, real estate brokers and accountants

Suppose that a landlord leases a storefront to a retailer that makes improvements to the facility by adding features to help sell its products. During the lease, a fire breaks out and damages the building, including the features added by the retailer to improve the space. When the insurance claims are made, the following questions arise: -Who did the improvements belong to? -Who is responsible for paying the damages? Defining Improvements and Betterments While legal definitions vary, improvements and betterments are anything that a tenant attaches to the landlord’s real estat

Although property owners are generally not responsible for protecting trespassers, in some cases, landowners or those who occupy land under leases can be held responsible for injuries to children that are caused by man-made conditions on the property. Considered attractive nuisances, these might include buildings, construction sites, heavy equipment or even man-made ditches. Property owners have the power to thwart entrance onto their property and discourage young trespassers from getting hurt. One might use fencing, illustrated signs or other means to prevent children from entering the

Excess liability insurance (ELI), more commonly known as umbrella insurance, is one of the most important types of insurance your company can buy. It protects your business from holes or limits in existing policy coverage as well as from financially draining lawsuits. Just as you carry an umbrella to protect you from a potential downpour, ELI protects your company from the types of claims that could close your business. Umbrella Basics Businesses choose ELI essentially to back up the limits contained in their underlying liability policies (commercial general liability, business auto,

The only way to protect the assets of your business is to carry adequate Commercial General Liability (CGL) Insurance. A CGL policy protects your business from damages caused by bodily injury or property damage for which your business is found to be legally liable. CGL is usually triggered first in the event of a loss, so many business owners don't feel an additional endorsement or stand-alone policy is necessary. A typical CGL policy contains three coverages: A. Bodily Injury and Property Damage Liability (BI/PD) – the duty to indemnify and defend the insured for claims made due to

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