A business is any pursuit undertaken for financial gain including a trade, profession or occupation. A business should have commercial insurance to protect the assets of the enterprise.
Liability insurance is purchased for a possible act of negligence by the owner or the employee(s). This basic business insurance policy is called a Commercial General Liability (CGL).
Coverage can be purchased to protect the continuance of the business after a claim has occurred. Without some business interruption coverage you would not have payroll funds for key employees who would go elsewhere for work. You could lose your contracts and it might take years to build the business back to where it was before the loss. Some expenses, such as a lease would still have to be paid without a revenue source. Unless you have deep pockets a lack of this coverage could be the death knell to your business.
It is strongly recommended that you discuss your scope of your operation and needs of your business with your Action Insurance broker. Many of the insurance companies offer package policies for specific business operations including mining, manufacturing, restaurant, contractor, oilfield services, farming and retail operations.
Learn more about about Liability Insurance here.