SME INSURANCE

Commercial General Liability (CGL) Insurance?

• Commercial general liability insurance is a combination of public liability and product liability.
• Commercial general liability insurance covers bodily injury, personal injury, and property damage caused by products and injuries on the insured business premises during business operations .
• Marine Cargo insurance plays a crucial role in businesses that transport goods as it guarantees solace and protection against financial loss in uncertain circumstances.

What is Public Liability Insurance?

• An insurance policy known as a "public liability insurance policy" covers any bodily harm and property damage to a third party for which the policyholder is accountable. It is also called "commercial general liability insurance," combining public and product liability insurance coverage.
• For instance, a client who enters your office stumbles on a wet floor, breaks her ankle, and must go to the hospital. In this case, the insurance policy will come into play, and the costs of treating the broken ankle will be paid.
• Third-party liability insurance is essential for company owners, hospitals, and doctors. It covers legal or financial obligations that may arise if a third party files a claim against the policyholder. This could be for damages, injuries, or losses caused by the policyholder's business operations or products. Businesses and people that may be held liable for such issues typically purchase liability insurance policies.Third-party liability insurance also helps with legal expenses if a third party files a claim of damages against the policyholder. This should not hamper the running of businesses and professions because, in such a case, one may be putting one's financial stability at stake to meet the possible legal expenses.

Public Liability Insurance Coverage

To benefit from more thorough protection, the scope of public liability insurance or third-party liability coverage is expanded to include industrial and non-industrial risks, all business units dealing with hazardous substances, etc. This policy can be expanded to cover additional legal costs associated with

• Natural calamities
• Sudden and Accidental Pollution
• Transportation
• Carriage of treated effluents, etc

What is a Product Liability Insurance Policy?

Product liability insurance is essential for business owners, companies that make products, companies that provide medicines, and even hospitals. It covers legal or financial penalties that may arise if a product causes harm or damage. For instance, a product manufacturer has been sued for encouraging the sale of faulty products that harm the consumer or other products. The insurance company would cover the ensuing legal expenses if the manufacturer has a product liability insurance policy. This is essential for businesses that produce chemicals, pharmaceuticals, cigarettes, meals and beverages, entertainment, and other items. Although not required, this one is important for several sectors. If you fall under this category, you must not overlook

Product Liability Insurance Covers

The policy can be further enhanced with the following benefits:

• By selecting the North American Jurisdiction Clause, you can obtain further protection from liabilities resulting from judgments or settlements reached in nations governed by the laws of Canada or the United States of America. This means that if a legal dispute arises in these countries, your insurance policy will cover the costs, providing you with peace of mind and financial security. You can get additional coverage for liabilities arising from the distribution and sale of insured products by vendors (named or unnamed vendors) with the manufacturer's warranty and product usage instructions.
• Our enhanced coverage now extends to legal exposures resulting from sudden and accidental pollution, transportation, natural disasters, and more, ensuring your comprehensive protection.

Small Business Insurance Benefits?

Because they are protected against losses that could interfere with their regular business operations, small business owners can operate with the confidence and peace of mind that comes with having small business insurance. Here are a few reasons why choosing SME insurance from us can be effective.

We help companies in getting more customers.

Trust is the most important asset in today's economy, and our ability to provide insurance coverage fosters consumer confidence in its goods and services. Many clients only opt to do business with reliable organizations. SME insurance we provide can uphold a customer's pleasure and offer compensation if something goes wrong, benefiting both the company and its clients.

We at Prime Folios Pvt. Ltd helps Companies bring in and hold on to the Best Talent.

Prospects and clients may be more open to working with a company if they feel confident in its ability to be trusted. This may result in more customers and income for the company. Customers can be more inclined to use a freight and logistics company, for instance, if it is insured against theft and other mishaps-related losses and damages.

We understand that the company's most valuable asset is its workforce. Acquiring appropriate SME insurance coverage for staff members is advantageous for both the company and the staff members. The cause? People like to work for organizations that care about their future, safety, and interests.

Benefits of Commercial Insurance

Benefits of Commercial Insurance when an insurance policy protects your SME against different risks and hazards, it helps you focus on growing your business. Below are some of the important benefits of having commercial insurance:

This coverage, an element of liability insurance, protects your company against third-party damages. Consequently, you can be protected from their claims if a third-party person is hurt or a third party's property is harmed while on your property. This coverage is available as an add-on for your Prime Folios Pvt—Ltd Package Insurance plan.