Looking to cover your liability to employees in the event of an accident? For example, if an employee should suffer an injury whilst at work, business liability insurance can help. Here are companies that offer this service.
Find insurance companies in Zambia that can provide business liability insurance that protects the financial interests of your company or business in the event that you face formal lawsuits or any third-party claims. Such policies cover any direct financial liabilities incurred, as well as any legal defence expenses.
Situations may arise in your business operations where you are liable to compensate for damages incurred by another party. Your company’s indemnification liability may be related to the water damage caused by faulty installation or a customer tripping over on an old doormat in your shop.
An indemnification liability will result in unexpected additional expenses for your company. As mistakes and disputes are difficult to foresee, general liability insurance provides essential cover for companies of all sizes.
Your insurance company will take over management of the situation entirely in losses that are included within the scope of the insurance. They will help you investigate whether your company is liable for indemnification and negotiate with the injured party if necessary. If it is found that your company is liable, they will compensate the damages. If there is no indemnification liability and the matter is taken to court, the insurance company will take care of the legal proceedings for you. Investigation and claim settlement services are included in the insurance premium.
Liability insurance has become increasingly important in Zambia and is today an essential part of the risk management systems of companies. Whether you are a private trader or own a limited liability company, the purpose of general liability insurance is to protect against damages caused by you or your employees or products. With all this being an important need make sure you insure with the best provider for you in Zambia.
Your company’s liability insurance covers liabilities for damages that arise from activities specified in the policy document.
Depending on your line of business, you may need more than one liability insurance policy. In the case of accounting firms, for example, adequate insurance cover typically requires two different types of liability insurance: business liability insurance and financial loss cover.
For this reason, you should take out liability insurance for all your company’s business areas. In pricing your liability insurance,the insurance company will take into account risks specific to your line of business.