What is a contractual liability insurance policy?

A contractual liability insurance policy is a type of insurance coverage that helps protect a business from the risks associated with contractual agreements. This type of policy provides coverage for liability that arises from the performance of a contract. It can also protect the business from lawsuits, financial losses, and other expenses that could result from the breach of any contract. For example, a business might have a contractual liability insurance policy to protect them if they sign an agreement to provide a service and then fail to do so. This policy would help pay for any legal fees, damages, and other costs related to the breach. Contractual liability insurance policies are generally written for a specific period, such as one or two years, and typically contain limits on the amount of coverage that is available. In addition, this type of policy is tailored to the specific needs of the business and its contracts. Contractual liability insurance is an important policy to have if your business is involved in contracts. It can help protect you from any risks associated with those agreements, allowing you to focus on growing your business.

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What is a contractual liability insurance policy?

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