Liability Insurance refers to an insurance product that provides an Insured Party with protection against Legal Suits or Compensation Claims resulting from injuries and damages caused to other individuals or land. Liability Insurance Policies cover any lawful charges an Insured party is accountable for if they are found legally accountable. 
It covers business owners, independent professionals and self-employed people against the cost of compensation claims following fault of negligence brought against them by employees, clients, customers, shareholders, investors, or members of the public.