What kinds of risks do businesses face?

General business liability insurance (aka commercial general liability insurance or CGL) is the most basic form of policy. It protects your business from injury, accidents, and negligence, the results of which can result in bodily injury, property damage, legal and medical expenses, and even libel or slander.

Businesses with many employees might also need to consider Employment practices liability insurance (EPLI) . That's another form of liability insurance for your business that is becoming more important. EPLI provides protection from claims and lawsuits brought against a business or its agents for wrongful termination, discrimination, sexual harassment, and other employment-related allegations.

Depending on the nature of your business, it may need to carry specialized insurance policies:

• Cyber liability insurance is important for any business that relies on, stores, or uses electronic information. It can help cover costs related to a data breach or other cybercrime.
• Liquor liability insurance protects any business that sells or serves alcoholic beverages. Food and beverages businesses can be held liable for damages or injuries caused by intoxicated patrons.
• Product liability insurance covers any kind of injury or damage that results from a product that your business sells.
• Event liability insurance supplements standard personal and commercial liability policies that do not cover exposures related to special events. Big or small, policies can be tailored to your specific events.

How Much liability Insurance do I really need?

Business liability insurance—in all of its forms—is essential to the long-term success of your business. Every business liability policy must be tailored to your unique business or you might get caught without coverage.

Having basic liability insurance is essential, and that's easy to get. The real value comes from working with an agent that understands the needs of your business and the risks it realistically faces. Your policy can depend on:

• Your business size and value
• The type of work you do
• The nature of risks you face
• Magnitude of liability

We can help you consider the risks your business faces and look at multiple policies from various providers to find the insurance that will work for you without costing you an arm and a leg.