General liability insurance and reputations
Businesses now have the ability to purchase general liability insurance, which can cover bodily injury that results in actual physical damage or loss, property damage or loss, personal injury and slander or damage to reputation, and even advertising injury due to negligence that result from the promotion of goods or services. General liability insurance can be bought independently or as part of a BOP, otherwise known as a Business Owner’s Policy. A Business Owner’s Policy packs liability and property insurance into a single policy. Also factored into the rates the rates are the kind of work undertaken, gross receipts and total payroll expenses.
