Business Liability
Safeguard your business from unseen risks.
With our expertise in business insurance and risk management, Acera Insurance offers competitively-priced coverage to protect your business from a wide range of liability risks.
Your guide to business liability.
There are many types of business liability coverage available. Generally, this coverage is for legal expenses in the event your company is sued as a result of its operations. Speak to one of our experienced advisors to determine what liability coverage your company requires.
Business liability generally includes:
- Standard commercial general liability which covers property damage or bodily injury claims from a third party
- Coverage for defence costs, settlements and awards up to your policy limits
- Claims from third parties mostly such as clients and vendors
Supporting businesses across Canada.
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Common liability coverages to reduce your risks.
Commercial General Liability (CGL)
This is coverage for property damage or injury claims from a third party as a result of your business operations. It usually includes personal & advertising injury, products-completed operations and can include extensions for tenant’s legal liability and medical payments.
Professional Liability
Also known as Errors & Omissions (E&O) Insurance, this covers your business if you’re sued for causing financial loss due to your professional service or failure to provide it.
Directors & Officers Liability (D&O)
This covers claims alleging financial loss from corporate mismanagement. It is specifically meant to protect the personal assets of directors and officers when they are sued in their personal capacity.
Cyber Liability
This covers claims of financial loss due to a cyber attack or privacy breach. It should include both first party (breach response, loss of income, systems restoration) and third party (privacy liability, network security liability, regulatory liability) coverages.
Legal Expense
For small businesses that can’t afford to have a lawyer on retainer, this covers legal costs for unexpected legal events. It provides access to legal information and can be used to defend or pursue legal rights, including contract disputes and debt recovery.
Commercial Auto
If you use vehicles in your business, this provides the necessary coverage for commercial vehicles, including third-party liability coverage.
Umbrella Liability
To ensure you have adequate coverage for liability exposures, an umbrella policy can provide additional coverage limits over other liability policies, such as CGL and auto.
Why choose Acera Insurance for business liability?
We’ll take the time to understand your business, operations and risks so you can be certain you have the right coverage.
Industry Expertise
Our insurance advisors have deep expertise in specific industries with many of them having worked in the industries they specialize in.
National & Global Insurers
We work with a large number of insurer partners, allowing us to get the right coverage for your business, whether you operate locally, nationally or internationally.
Risk Management
With extensive risk management expertise, our team goes the extra mile to help you protect your business.
Helpful tips from our advisors.
Our experienced advisors are happy to discuss your unique needs and provide liability coverage tailored to your business.
Answering your most common questions.
What type of liability insurance does my business need?
It’s best to speak to an experienced insurance advisor to determine what type of liability insurance your business needs. It will depend on your individual company’s industry, size, operations and other factors. Some industries have specific regulations or recommendations for what types of insurance businesses should carry as well.
Do you need liability insurance for all businesses?
In most cases, yes, you’ll need liability insurance for your business. The exact type of liability coverage you require will depend on your individual business and its operations; we recommend reaching out to one of our experienced advisors to discuss your needs.
What does business liability insurance cover?
Generally speaking, liability insurance covers your business’ legal expenses if you’re sued. This includes defence costs, settlements and judgement awards. Each type of liability coverage is specifically designed to cover a specific litigation risk: for example, commercial general liability insurance covers claims of property damage or bodily injury to a third party.
What are the benefits of liability insurance for a business?
Liability insurance helps protect your business financially if you are sued. It helps you navigate the process and covers the costs associated such as your legal defence costs, settlements and judgement awards, up to your policy limit.
In some cases, you may be required to hold certain types of liability insurance by a regulator.
What is the difference between general liability and professional liability insurance?
General liability insurance covers claims related to bodily injury, property damage and advertising injury caused by your business operations. Professional liability insurance, on the other hand, also known as errors and omissions insurance, covers claims of negligence, errors, or omissions related to professional services provided by your business.
Are there exclusions to what business liability insurance covers?
Yes, business liability insurance policies usually exclude certain risks, such as intentional acts, contractual liability beyond the policy’s scope, professional errors (which are covered by professional liability insurance), pollution, and cyber liability. Reviewing your policy and understanding these exclusions is crucial to avoid any future misunderstandings.
Can business liability insurance cover employee injuries?
Business liability insurance typically does not cover employee injuries. Instead, businesses are required to have worker’s compensation and other insurance solutions to cover employee injuries and illnesses arising from work-related activities.
How can I lower the cost of business liability insurance?
Businesses can potentially reduce the cost of liability insurance premiums by implementing risk management strategies. These strategies include improving workplace safety, maintaining accurate records, and reducing claims history. Opting for higher deductibles, bundling policies, and collaborating with an experienced business insurance advisor can also help secure competitive rates.
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