business-matters-logoQuestion: What is business liability insurance and what type should I purchase?  

Answer: Business liability insurance pays for claims by third parties for loss, damage or injury if your business is found liable.  It also covers, up to policy limits, your legal expenses and the medical expenses of third parties injured on your business premises in some types of cases.   There are a variety of insurance options available for your business depending on your industry and the nature of your business.

Question: Why should I purchase business liability insurance?

Answer: To protect yourself and your business from liability.  One such example occurred recently when a passenger traveling on a Southwest Airlines flight requested hot tea from the flight attendant.  Following standard protocol, the flight attendant gave the passenger a cup of hot water from the designated dispenser and a tea bag.  Unfortunately, the passenger spilled the hot water on herself and suffered second degree burns and blisters.  Following, the passenger sued Southwest Airlines for negligence, claiming $800,000 in damages.  Although the case has yet to be determined, Southwest Airlines would benefit by having business liability insurance.

This article appeared in a recent issue of Business Matters. For more articles related to Pittsburgh’s north hills you can subscribe here.