What is Product Liability Insurance?
Product Liability Insurance Policy protects your business/company against claims of personal injury or property damage caused by products sold or distributed/supplied by your business. It is designed to protect your business by ensuring that if this happens, you don’t have to pay any legal or court costs. Every business that supplies or manufactures any product must have Product Liability Insurance.
What is Professional Liability Insurance?
Professional Indemnity Insurance is a type of business insurance, for organizations that provide consultation or any professional services to its clients. It protects professionals such as accountants, lawyers and physicians against negligence and other claims initiated by their clients. It is required by professionals who have expertise in a specific area because general liability insurance policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice or misrepresentation.