Liability loss prevention includes any measure taken to prevent or minimize damages and injuries that could be suffered on your business premises by a third party. Some common liability losses include:
All individuals and organizations have a legal obligation to conduct themselves in a manner that is reasonable and that does not wilfully or negligently cause injury or damage to others. Reasonable precautions must be taken in the conduct of your operations to prevent such damage or injury.
If you fail to take reasonable care to prevent these things from happening, you may be held responsible for compensating individuals/organizations for their damages. Precautions such as regular premises inspections and maintenance should be carried out and carefully documented.
Learn risk management best practices for your organization and as well as how to handle a claim.