01.Core Concepts

Some important liability exposures include: Premises and operations liability, arising out of the ownership and maintenance of the premises where the firm does business Products liability, arising out of the manufacturing and sale of products Completed operations liability, arising out of faulty work performed away from the premises after the work or operation is completed Contractual liability, arising out of the assumption of legal liability through a written or oral contract Contingent liability, arising out of work done by independent contractors