There are many types of business insurance policies including; general liability, commercial property, product liability, professional liability, business interruption and worker' compensation insurance. General liability is perhaps the most important type of insurance. - to protect against accidents, injury and negligence claims. Product liability and professional liability insurance cover the cost of lawsuits and settlements brought on by malpractice or safety violations. Commercial property insurance policies typically cover natural disasters caused by wind or water, fire and vandalism.
Business interruption insurance covers financial losses due to illness or an in ability to use your facilities to produce goods due to natural disaster or vandalism. Workers' compensation insurance covers employees' medical care and lost wages in the event of an accident or injury at the workplace.