exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
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Commercial Liability Insurance
Commercial liability insurance—often referred to as commercial insurance for short—is a combination of various liability insurance policies that protect companies, self-employed persons, and freelancers against claims for damages by third parties. It protects against the financial consequences of personal injury, property damage, or financial loss caused in the course of professional activities.
The aim is to cushion the entrepreneurial risk in everyday life – for example, in the event of a consulting error, damage at a customer's premises, or a defective product.
Components of commercial liability insurance
Depending on the activity and industry, commercial liability insurance usually consists of the following components:
- Business liability insurance: Covers personal injury and property damage, e.g., if a customer falls in the office or an employee causes damage during an external appointment.
- Financial loss liability insurance: Protection against genuine financial losses, e.g., due to planning errors, incorrect advice, or poor performance.
- Product liability insurance: Relevant for manufacturers, distributors, or importers of physical products.
- Extensions such as cyber protection or data protection coverage, e.g., through the additional First-Party Cyber and Data Risks Insurance module.
Who should consider commercial insurance?
Commercial liability insurance is recommended for all businesses—from one-person operations to medium-sized companies. It is particularly important for:
- IT service providers, developers, and software companies
- Agencies, designers, and media professionals
- Consultants, coaches, trainers, and freelancers
- E-commerce, trade, and manufacturing
Commercial insurance at exali
At exali, commercial liability insurance is tailored to each individual industry – depending on the activity and risk profile. What makes it special is that professional liability insurance forms the basis of exali's insurance coverage. It can be expanded in a modular fashion—e.g., to include public liability, product liability, or cyber coverage.
Everything can be done online, taken out in just a few minutes, and provides immediate coverage—including proof of insurance and a seal.
Term: Commercial Liability Insurance
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