Business Liability Insurance. Business liability coverage protects the policyholder from financial losses resulting from an injury to another person or damage to another person's property. Public liability insurance protects the policyholder from financial losses resulting from injuries suffered by others as a result of negligence on the part of a business owner or employee. Product liability insurance protects the policyholder from financial losses resulting from injuries suffered by others as a result of using the policyholders' products. Marine, or transportation, coverage provides protection against the loss of goods being shipped from one place to another.
Marine insurance is the oldest type of insurance.
Ocean marine insurance protects the policyholder against loss or damage to a ship or its cargo on the high seas. Inland marine insurance protects against loss or damage to goods shipped by rail, truck, airplane, or inland barge. Business Interruption Insurance. Business interruption insurance provides protection for a business whose operations are interrupted because of a fire, storm, or other natural disaster. For most businesses, interruption coverage is available as an endorsement to a fire insurance policy.