General Liability Insurance for Finance and Accounting Business

General liability insurance, also known as public liability insurance, covers claims arising due to property damage, personal or bodily injuries for which the business is accountable. It protects small and large scale businesses from incurring any losses during the operation of a business. Therefore, public liability insurance is considered a crucial policy for the company to avoid risks associated with the business.

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Let us understand why finance and accounting businesses need general liability insurance.

Protection against Common Risks

Businesses are prone to risks. Moreover, accounting and finance businesses are highly associated to risks where a minor mistake causes a massive loss to the company and its client. Nevertheless, there is general liability insurance that is necessary to settle claims arising due to third-party bodily injury, property and personal damage, attorney's fee, judgment or settlement etc.

Let us discuss these aforementioned risks in detail.

Bodily injury

For every unintentional bodily injury caused to a client or a third party during the business operations, the company is liable to pay the medical bills of the victim. The company is responsible for looking after the safety of third party in its business premises. In addition, the business is responsible for any mishap caused accidentally or purposely to any third party within the premises. To deal with these liabilities, a general liability insurance is highly recommended for the business owners.
Personal and professional injury

Defamation, such as libel and slander, are part of public liability insurance. An accounting or financial business may be sued or subpoenaed for any personal or professional injury caused to another company or individual.

For example, while advertising for their accounts and financial services, the remarks made by a business may harm or damage the reputation of a person. Under such circumstances, a company is liable to disburse specific costs against the damages caused to the aggrieved party. In addition, the business may also face copyright issue, which may incur massive losses to the company. Well, public liability insurance cover is one such solution to deal with business related legal and financial liabilities.
Fees of Attorney

The public or general liability insurance covers the cost of hiring or appointing an attorney against a lawsuit instituted against the organization. In a business, a client or any aggrieved third party may initiate a legal proceeding against a business in order to get the appropriate compensation for the loss or damages caused.

Hence, it is crucial for small scale business dealing under finance or accounting to purchase the general liability insurance to escape from the liabilities. The public liability insurance for finance and accounting business also indemnifies the company against incurring of a court fees or e-filing of a matter.
Judgment

A business may lose the ongoing case in a court or tribunal and the court may sentence or award to pay a significant sum to the aggrieved party. Under such circumstances, the insured party may cover the cost from the insurance company under public liability insurance claim.

Explore Types of Liability Insurance

Comprehensive Liability Insurance

Contractual Liability Insurance

General Liability Insurance

Product Liability Insurance

Public Liability Insurance

Conclusion

It is essential to buy general liability insurance for finance and accounting business since no business, whether it is small or large scale is immune against any loss or negligence.

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Policybazaar for Business - Comprehensive Liability Insurance - Customer Reviews

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out of 5

Based on 27 reviews

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4.3 April 09, 2023

Shubh

Competitive Premiums

The premiums offered by PolicyBazaar for the Comprehensive General Liability Insurance are competitive, considering the extensive coverage and top-notch customer service they provide.Truly recomend it.

Ludhiana

4.3 March 28, 2023

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Worth Buying

PolicyBazaar worked closely with me to tailor the coverage to meet the specific needs of my business.Worth buying.

Dehradun

3.8 March 16, 2023

Veer

Wide Coverage

One of the most significant aspects of this insurance is its coverage. It provides extensive protection against a wide range of liabilities, including bodily injury, property damage, etc. Thanks for the policy PB

Lucknow

3.8 March 04, 2023

Akash

Peace Of Mind

I have been a satisfied customer of PolicyBazaar for several years now. It offers a comprehensive and reliable safety that has given me peace of mind and allowed me to focus on growing my business without constant worry about unforeseen events.Thankyou PB.

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3.8 February 20, 2023

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Claim Process Is Hassle Free

PolicyBazaar's claims process is efficient and hassle-free. In the unfortunate event of a claim, they handled everything swiftly and professionally, ensuring a smooth resolution without unnecessary delays. This reliability and promptness have further strengthened my trust in their services.Thankyou.

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4 February 20, 2023

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Great Customer Support

PolicyBazaar can help you get your Insurance as I am in the construction Industry and needed some guidance on risk concerns. I contacted PolicyBazaar Team, whO explaned to me the process to get the Insurance. Thank you PolicyBazaar.

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3.8 February 16, 2023

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Damages Covered

I recently purchased CGL insurnace from PolicyBazaar. They helped me to cover my damages. Thankyou.

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4 February 12, 2023

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Helpful Team

We were looking to buy Comprehensive General Liability Insurance Plan that protects Third party property from any accidental damage at my workplace. So we landed on the PolicyBazaar website. It was well managed and described all the benfits in detaill... We contacted their Customer support and dcided to buy from them. Thanks, PolicyBazaar Team

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3.8 February 08, 2023

Veer

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Vadodara

4.3 February 04, 2023

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Good Package

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General Liability Insurance for Finance and Accounting Business

Protection against Common Risks

Bodily injury

Personal and professional injury

Fees of Attorney

Judgment

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