Summary
General liability refers to the legal liability of business firms arising out of business operations other than liability for auto or aviation accidents or employee injuries. Important general liability loss exposures are as follows:
– Premises and operations
– Products liability
– Completed operations liability
– Contractual liability
– Contingent liability
Legal liability can arise out of the ownership and maintenance of the premises where the firm does business. Products liability means that the firm can be held liable for property damage or bodily injury arising out of a defective product. Completed operations liability refers to liability arising out of faulty work performed away from the premises after the work is completed. Contractual ...
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