Insurance Coverage Basics for Ontario Businesses Every Ontario business needs insurance coverage in place to protect them from various risks involved in carrying out their business activities, such as theft, property damage, and potential lawsuits. In Ontario, businesses are required to have certain types of coverage, while others are optional. Let’s look at an overview of the different types of insurance coverage elementary for businesses in Ontario, what they cover, and how they can benefit your business. 1. Commercial General Liability Insurance Commercial general liability insurance is essential for Ontario businesses as it provides liability coverage against legal claims made arising from their business operations. This type of insurance covers the cost of litigation associated with injury, damage to property, and other expenses related to liability claims. It also covers the cost of defending your business against lawsuits, regardless of whether they are legitimate or frivolous. Without this type of coverage, your business would be exposed to significant financial risks.…