General Liability Insurance

General Liability Insurance (GLI) protects businesses from financial losses arising from bodily injury or property damage to third parties caused by the business's operations, products, or on-premises accidents. In engineering and construction, GLI covers potential liabilities from site accidents, faulty workmanship leading to damage, or design errors causing injury. Financially, premiums are calculated based on risk factors like project scope, location, and historical claims data, impacting project budgeting and risk management strategies. For calculation, GLI costs are factored into overall project cost estimations, influencing bid competitiveness and profitability.