Commercial insurance is a form of insurance established to protect the liability for property losses and personal injuries that may be caused by enterprises and individuals in their daily activities. In commercial insurance, general liability insurance and professional liability insurance are two common types of insurance. From a professional perspective, this article will explain in detail the difference between general liability insurance and professional liability insurance.
Definition of general liability insurance
General liability insurance is a kind of commercial insurance, which mainly provides liability protection for enterprises and individuals to protect their liability for property losses and personal injuries that may be caused in their daily activities. General liability insurance usually covers personal injury, property damage and moral damage.
Definition of professional liability insurance
Professional liability insurance is a kind of commercial insurance, mainly to provide professional liability protection for professionals, to protect their rights and interests in the professional field. Professional liability insurance mainly covers the compensation liability caused by professional liability, property damage and personal injury, but does not cover the compensation liability caused by intentional acts, illegal acts and accidents.
Difference between general liability insurance and professional liability insurance
Different objects of protection
General liability insurance is mainly to provide liability protection for enterprises and individuals to protect their liability for property losses and personal injuries that may be caused in their daily activities. Professional liability insurance is mainly to provide professional liability protection for professionals to protect their rights and interests in the professional field.
Different coverage
General liability insurance usually covers personal injury, property damage and mental damage, etc., while professional liability insurance mainly covers compensation liability caused by professional liability, property damage and personal injury, but does not cover compensation liability caused by intentional acts, illegal acts and accidents.
Different insurance amounts
General liability insurance and professional liability insurance have different amounts of insurance. General liability insurance usually has a lower amount of coverage, while professional liability insurance usually has a higher amount of coverage.
Different insurance costs
General liability insurance and professional liability insurance also have different insurance costs. General liability insurance usually has a lower premium, while professional liability insurance usually has a higher premium.
Different terms of cover
General liability insurance and professional liability insurance also have different underwriting conditions. General liability insurance usually only requires the insured to be insured without intentional or illegal acts, while professional liability insurance requires the insured to have relevant professional qualifications and experience.
The role of general and professional liability insurance
General liability insurance and professional liability insurance are both types of insurance to provide protection for enterprises and individuals, but their protection objects and coverage are different. General liability insurance is mainly to provide liability protection for enterprises and individuals to protect their liability for property losses and personal injuries that may be caused in their daily activities. Professional liability insurance is mainly to provide professional liability protection for professionals to protect their rights and interests in the professional field.
Conclusion
General liability insurance and professional liability insurance are two common types of commercial insurance. General liability insurance is mainly to provide liability protection for enterprises and individuals to protect their liability for property losses and personal injuries that may be caused in their daily activities. Professional liability insurance is mainly to provide professional liability protection for professionals to protect their rights and interests in the professional field. When choosing insurance, you need to choose the type of insurance that suits you according to your own situation and needs.
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