Legal liability insurance

As previously stated, a business can be held legally liable to pay compensation (damages) for injury or damage caused by its activities, and a successful action against it may result in large financial demands upon the business. Liability insurance ensures that, subject to satisfactory compliance with specified conditions and procedures by the insured, funds are available for a business if it is held... 

There is a legal requirement upon most employers to have in force employer s liability insurance covering injury to their employees. Public liability insurance, while not compulsory, is strongly recommended, both in terms of third-party liability (arising from the effects of corporate activities) and product liability (arising from the effects of corporate products. 

Property damages and legal liabilities are not the only sources of financial impacts a company may suffer at the time of an incident. Business interruption losses will also occur since the facility will not longer be able to function as intended. Analysis of insurance industry claims data shows that business interruption losses are generally three times the amount of physical property damage. Often the justification for a safety feature may not be the loss of the component itself but of the impact to operations and loss revenue it produces. 

Should a study subject suffer any deterioration in health or well-being caused by participation in a study, the sponsors of the clinical research must provide appropriate compensation without regard to the question of legal liability. A statement to that effect should be present in the protocol. Frequently, the insurance policy of the sponsor includes the pharmaceutical company, clinical investigators and the institution where the clinical study is being undertaken. 

It is an excellent maxim always to consider the situation from the complainant s point of view and if the product is clearly at fault then an apology should be offered this often serves to disarm a complainant expecting to do battle. Note, however, that admitting liability should be avoided as it restricts negotiations if legal proceedings ensue and may invalidate liability insurance. 

Many different types of insurance are available for protection against property loss or charges based on legal liability. Despite every precaution, there is always the possibility of an unforeseen event causing a sudden drain on a company s... 

Although negligence represents the most important legal complication of clinical practice, the exposure of optometrists to malpractice claims remains at a relatively low level, for below that of physicians. Within optometry there is no difference between diagnostic and therapeutic drug use with regard to the risk of malpractice, because professional liability insurance premium costs do not vary on this basis. However, as optometry laws continue to be amended to enable optometrists to serve as primary providers of eye care, this increased clinical responsibility inevitably wiU result in increased litigation. 

It is always open to question as to what extent the risk threshold for chemical noxae may be exceeded due to altered technical working procedures and individual conditions despite compliance with the legal regulations. The recruitment and monitoring criteria prescribed by the employers liability insurance association are of great importance in this respect. 

Over the past 15 years, product liability claims and litigation against pharmaceutical manufacturers appear to have increased as measured by numbers of cases and changes in liability insurance. The legal circumstances under which courts hold pharmaceutical manufacturers responsible for injuries to consumers also broadened in recent years. 

Legal Liabilities and Insurance Aspects of Contaminated Land... 

Public liability insurance provides indemnity to the insured against their legal liability incurred for property damage and bodily injury to third parties. It normally provides indemnity to the insured for the financial consequences of damage to third parties caused by any activities of the insured giving rise to such... 

Insurance check that the school has legal liability. 

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