Differences between Business Liability and Professional Liability

Index

Differences between Business Liability and Professional Liability

Business Civil Liability insurance or also called General Civil Liability covers damage caused in the course of the company's activity. Business liability and professional liability seem quite similar, but they are different concepts.

Insurance that includes professional liability cover mainly covers economic damage resulting from errors, omissions or negligence in the performance of the professional activity. Professional RC is generally very useful for independent professionals such as doctors, lawyers or architects, whose activities present risks to their clients as they develop their business. In contrast, most activities involve risk. (IT companies, translators, consultants, Marketing agencies….).

Examples of claims related to professional liability insurance

Marketing and communications professionals, for example, are exposed to claims related to negligence (simple typographical errors, use of an image protected by copyright, etc.)

Example of a claim related to business liability insurance

A customer enters to a commercial shop and falls because the floor was slippery. He breaks his arm and his glasses. In this case, the shop is responsible for personal damage (broken arm) and material damage (broken glasses). The customer mayrequire the payment of medical costs and repair of the glasses. The business liability insurance will cover these costs.

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