For entrepreneurs venturing into the dynamic world of small business ownership, managing risk is paramount to long-term success and sustainability. Amidst the myriad of responsibilities and considerations, obtaining adequate liability insurance stands out as a fundamental requirement for safeguarding against unforeseen liabilities and protecting the financial interests of the business. In this article, we'll explore the essential aspects of small business liability insurance requirements, empowering business owners with the knowledge needed to navigate this critical aspect of risk management. Small business liability insurance requirements What is Small Business Liability Insurance? Small business liability insurance, also known as commercial general liability (CGL) insurance, is a type of insurance coverage designed to protect businesses from liabilities arising from third-party claims of bodily injury, property damage, or personal injury. It provides financial protection against ...
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