Businesses buy commercial general liability insurance to protect the company owner against claims of bodily injury, property damage, slander, and false advertising. Among the subsets of commercial general liability insurance are attendee insurance, premises or operations insurance, and products or completed operations insurance. Attendee insurance protects the policyholder if they own a property or sponsor an event at a property at which someone is injured, and the policyholder is found liable.
For the venue owner, attendee insurance should be a core part of their coverage, assuming they regularly host others as part of their business. Firms that do not host events need premises or operations insurance for injuries or property damage that occurs on your premises during their work. Assuming the business regularly has employees or suppliers on their premises, then premised or operations insurance should be a core part of their coverage.
Products or completed operations insurance covers damage related to products you have produced or work you performed that causes damage or injury when not at your business location. For example, many companies in the skilled trades provide most of their services on someone else’s property. If they complete a project and the work results in damage in the future, the company could be found liable for damage, which the completed work portion of their policy would cover.
