Tag: Insurance

Insurance is a form of protection and risk mitigation tool to protect against contingencies or unexpected loss. It serves its purpose in several instances—whether it’s your car, health or even your pet. Most people want to have a cushion to be prepared for unexpected circumstances, so, they pay for the protection. But how exactly does insurance function in the B2B trade credit industry?

General liability insurance, also known as business liability insurance, is pivotal in the construction world as it helps cover claims of bodily injury or property damage. But that may change in Illinois as the state’s Supreme Court held commercial general liability (CGL) policies can provide coverage in Illinois for damage caused by inadvertent construction defects.