We live in an increasingly litigious society. More people are now turning to the legal system to settle conflicts. As a result, claims alleging negligence causing injury or property damage are on the rise. Insurance that protects your business and your employees from lawsuits is more important than ever.

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With liability insurance, you will be protected in the event you are found legally liable for injuries caused to another person or damage to their property. You will also be protected if your product injures someone or causes property damage. Talk to your agent to make sure you get the liability coverage your business needs.

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Why do you need general third-party liability coverage?

With general liability coverage, your business is protected in the event you are found legally liable for injuries or property damage caused by your product or accidents on your premises or at your customer’s location.

General Third-Party Liability policies cover four types of claims:

• Bodily injury resulting in actual physical damage or loss
• Property damage or loss
• Personal injury (including slander or libel)
• Medical Expenses

General liability insurance is not expensive – especially when compared to the cost to defend a claim against your business.Damages assessed by the courts to compensate third parties, legal defense fees, and settlement charges are paid by your insurer, up to the limit of the policy.

Liability coverage is included in our commercial policy packages.

When you purchase a commercial policy package from The Co‑operators, you will automatically receive general liability coverage with policy limits of $2,000,000. This vital coverage protects your business against claims alleging injury or property damage. Your policy also covers:

• Liability from use of non-owned automobiles
• Personal and advertising injury
• Your liability as a tenant

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For more information on General Liability Insurance and to find out what type of coverage you need to protect your business, talk to your agent.

What is an Umbrella Liability policy?

An Umbrella Liability policy is much broader than a standard liability policy. It covers you for injury to others or damage to their property arising out of an unexpected occurrence that takes place in Canada and worldwide. The legal liability limits are in excess of a standard liability policy to help protect your assets from potentially high court awards.

In what ways is an Umbrella Liability policy broader than a standard policy?

• Broader definition of ‘Bodily Injury’
• World wide territory
• Coverage for non-owned watercraft
• Coverage for non-owned aircraft
• Licensed automobiles may be covered, provided a Standard Excess Auto Policy is attached

Note: the underwriter may require that underlying primary liability policies, with minimum limits, be in place and maintained for all known and insurable exposures.The underwriter may also need to exclude certain exposures, depending on the individual risk.

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For more information on an Umbrella Liability policy, talk to your agent.