Blanket Contractual Liability Insurance
Categories: Insurance, Company Management
Because nobody trusts nobody these days when it comes to business, there’s blanket contractual liability insurance to save the day.
Blanket contractual liability insurance helps businesses work with other businesses, and not get in trouble if their partner-business gets in trouble. Basically, whenever a big-boy company that has blanket contractual liability insurance signs a dotted line with another company, their liability insurance also extends to that other company automatically.
It’s like if McDonald’s tried to hop on board the local food trend and started getting its beef from a local farmer, only to learn later that the beef is actually human meat, and that the local farmer is actually a local serial killer who is obsessed with Sweeney Todd. If McDonald’s had blanket contractual liability insurance (which it surely does), then the local serial killer/local farmer/local Sweeney Todd enthusiast would also be covered by McDonald’s liability insurance, just because the two companies signed a contract together.
That way, McDonald’s is doubly protected, since they and the the local serial killer/local farmer/local Sweeney Todd enthusiast are covered.
