General Liability Insurance / General Liability

General Liability Insurance: General Liability Insurance (or: general liability) covers personal injuries and property damage as well as the resulting financial loss (or pecuniary damage) (so-called consequential financial loss) caused by the operation of a business or a permanent establishment (for example an office). Such liability insurance for a company is therefore sometimes also called “office” liability insurance. General Liability Insurance also covers damage to customer offices or damage related to business trips, trade fairs or exhibitions.

In contrast to General Liability Insurance, Professional Indemnity Insurance (also known as financial loss indemnity) is responsible for pure financial losses.

General Liability Insurance: Examples:

• Example of property damage: In your office space, the carelessness of an employee causes water damage that spreads to the office below you. They demand that you provide compensation for the damage incurred.
• Example of personal injury: At a trade fair, a prospective customer trips over a cable at your stand and breaks his leg. His trade association demands compensation for the lost work.
• Example of consequential financial loss (financial loss resulting from personal injury or property damage): During a meeting with a customer, you accidentally knock their laptop off the table. The hard drive is damaged and the customer can no longer access important data. Your customer bills you for the costs of the data recovery company.

You can take out General Liability Insurance online in just a few minutes. You can enter your professional activity here and calculate your premium:

(related terms: financial loss (pure/real financial loss)