Common Small Business Liability Risks, common commercial liability risks

Common Small Business Liability Risks

Here are some of the most common commercial liability risks that small businesses face.

It’s no secret that small businesses are subject to a considerable amount of risk. Some of the most serious threats that your company faces are those stemming from a liability issue. If you want to protect your company’s assets, here are the common commercial liability risks that you need to watch out for.

Employment Liability Issues

Some of the most serious liability issues that a company can face are those stemming from a prospective, current, or former employee claim. These types of claims are characterized as employment liability. Common examples of employment liability claims include discrimination, sexual harassment, retaliation, breach of employment contract, payroll issues, and so on.

Product Liability Issues

If your business manufactures or distributes products, it can be held liable for any injuries or property damage that the product might cause. Additionally, your business can also be held liable if third-party claims that a product was advertised falsely or in a way that caused losses.

General Liability Issues

Finally, your business is also subject to general liability risks. These risks are generally associated with injuries or damages that take place on your business’s premises. For instance, if a customer were to slip and injure themself while on your business’s property, your company can be held liable for their injuries and subsequent medical costs.

These are some of the common commercial liability risks that small businesses face. Luckily, having the right commercial liability insurance can help you protect against all these risks and many more. For assistance with your business’s insurance needs, contact the experts at Tri-Star Insurance/HUB International in Plano, Texas to get started today.