“Sticks and stones may break my bones, but words will never hurt me.” Unfortunately, this saying does not hold true for your firm.
Sad to say, in today’s “litigation society,” it seems that just about any business (including yours) can be sued for any number of reasons. Consider these scenarios:
- A computer error results in the release of sensitive information about a key client.
- An overzealous employee sends a LinkedIn message criticizing a competitor.
- A security guard detains a visitor that he suspects of theft.
Each of these incidents could easily lead to six-figure litigation; and, even if you won, you’d have to deal with the time, hassle, and expense of defending the suit ’ as well as the potentially significant indirect costs from negative publicity.
Not to worry. Personal Injury Liability insurance will pay for any judgment, up to the amount of the policy, against your business for non-physical harm to a third party from a wide variety of causes: libel, slander, defamation of character, false arrest, malicious prosecution, wrongful eviction, or violation of privacy. (This “peace of mind” coverage is distinct from another essential policy, Bodily Injury Liability, which covers allegations of physical damage).
Bear in mind that Personal Injury Liability has a far different definition in insuring your home and auto. Under a Homeowners policy, it covers physical harm to people injured on your property or as a result of your actions. Auto Liability insurance includes two coverages ’Bodily Injury and Property Damage ’ that, together, are known as Personal Injury Liability or Personal Insurance Protection (PIP).
Tracy-Driscoll‘s Business insurance specialists stand ready to recommend a Personal Injury policy that provides the coverage you need, at a price you can afford. Give us a call at 860-589-3434.