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These are completely different products with very few similarities. A Fidelity Bond is a guarantee that something will or will not happen. For instance, a cleaning company can have their employees bonded and if they steal something, the client is reimbursed. Usually the company or individuals bonded are then responsible to reimburse the bonding company for their losses. A General Liability Policy is an insurance policy that protects the company and client should an employee do something in error that causes a loss. It will protect the contractor for action against them. For instance, if a landscaping company is cutting the grass in front of an office and a rock flies out from under the mower and strikes a customer going into the office. Medical bill and loss totals $400,000 for the injuries that were a clear accident and not an intentional act by the employee. This would be covered by the Landscaping Companies General Liability Policy with not reimbursement required to anyone except the person injured. It also provides defense to protect the Company in addition to the amount of the loss or policy limit. The CGL would not cover intentional acts like theft of a computer from the office by a member of the cleaning crew. That is for the Fidelity Bond product, not the Commercial General Liability.
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What the difference between Professional Liability and Practice Insurance?
No difference. It's the same thing
What is the difference between contingent liability and off balance sheet liability?
There is no difference between Contingent Liability and Off Balance Sheet Liability.
Is there a difference between public liability and third party insurance?
difference between third party liability and public liability
What is the difference between Errors and Omissions Insurance and Professional Liability?
They are one and the same thing. The term "Malpractice Insurance" to describe a professional liability insurance policy is most often used in the medical professions and sometimes legal professions.
What is the difference between druggist liability and pharmacy professional liability?
Druggist liability typically refers to the legal responsibility of a pharmacy or pharmacist for the dispensing of medications and potential harm caused by errors in that process, such as dispensing the wrong drug or dosage. In contrast, pharmacy professional liability encompasses a broader scope, including the pharmacist's overall professional services, such as patient counseling, drug therapy management, and any negligence that may arise from their professional judgment. While both types of liability focus on protecting patients, druggist liability is more centered on the act of dispensing, whereas pharmacy professional liability covers a wider range of professional responsibilities.
What is the difference between liability and indemnity?
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Horse Legal Liability vs stableman's liability?
Difference between horse liability and stableman coverage
What is the difference between absolute and strict liability?
In strict liability, there are certain defenses available whereas in absolute liability, there are none.
What is the difference between employers' liability insurance and public liability insurance?
The difference between employers liability and public liability are simple. Employer liability insurance covers only claims made by the employees against the company. Public liability covers claims against the company by the general public as well as third parties claims.
What is the difference between skilled and professional?
Difference between skilled and Professional is skilled is you knowledge and Professional is you way how to work with people.
What is the difference between liability and obligation?
Liability - is something covered by law. Obligation - is something you're 'expected' to do.
What is Difference between liability and obligation?
Liability - is something covered by law. Obligation - is something you're 'expected' to do.
