Public liability insurance is an insurance policy that provides financial protection to businesses and individuals against claims of negligence or legal liability for personal injury or property damage caused by their actions or products. It is designed to protect against legal costs, damages, and other expenses associated with such claims.
Public liability insurance is crucial for businesses and individuals as it helps mitigate financial risks and ensures they have the necessary coverage in the event of a claim. It provides peace of mind and protects against potentially devastating financial losses. Historically, public liability insurance has played a vital role in safeguarding businesses and individuals from legal and financial liabilities.