Business insurance is a broad category of coverage designed to protect companies from financial losses due to various risks and unforeseen events. Key types of business insurance include general liability insurance, which covers third-party claims of bodily injury or property damage; property insurance, which protects physical assets like buildings and equipment from damage or theft; and professional liability insurance, which covers legal expenses and damages related to professional mistakes or negligence. Other important coverages include workers' compensation insurance, which provides benefits to employees injured on the job, and business interruption insurance, which compensates for lost income during disruptions. Tailoring a comprehensive insurance plan to your business's specific needs is essential for mitigating risks and ensuring long-term stability and growth.
