Liability insurance

{
  "id": "MLC-T-INS-003677",
  "term": "Liability insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage that protects a business against financial loss arising from claims of bodily injury, property damage, or other harm caused by the business's operations, products, or on its premises. It pays for legal defense costs and any resulting judgments or settlements up to the policy limits. A standard businessowners policy includes general liability coverage, but businesses may need separate policies for professional, product, or auto liability exposures.",
  "subject": "Businessowners Policy",
  "url": "https://mlchart.com/terminology/insurance/liability-insurance/"
}