What are the consequences of not having proper insurance for TQL activities?

Not having proper insurance for TQL activities can lead to increased liability risks and potential financial losses. Insurance serves as a critical financial safety net that protects a company against various risks associated with operational activities, such as liability claims, property damage, and loss of income due to unforeseen events. Without adequate coverage, a company becomes more exposed to lawsuits and claims made by third parties, which can result in hefty legal fees and settlements. Additionally, any accidents or incidents that occur without insurance can lead to significant out-of-pocket expenses, crippling a company's finances and possibly threatening its viability.

In contrast, having proper insurance mitigates these risks, allowing a company to operate with greater confidence and stability.