What type of coverage is designed for losses that occur as a result of both bodily injury and property damage?

General liability coverage is specifically designed to protect against losses that involve both bodily injury and property damage. It is a broad type of insurance that provides coverage for various incidents, including accidents that result in harm to a third party or their property while on the insured’s premises or as a result of the insured’s operations. This coverage is essential for businesses as it helps shield them from financial loss due to lawsuits or claims made by individuals who have suffered injuries or damages due to the actions or negligence of the insured.

The context of general liability coverage is complemented by understanding the distinctions between other types of coverage mentioned in the question. Property damage liability coverage focuses solely on damage to another person's property caused by the insured, while bodily injury liability coverage pertains exclusively to physical injuries sustained by others. Comprehensive coverage typically refers to protection against damages to the insured’s own vehicle from non-collision incidents, which is unrelated to the liability for bodily injury or property damage to others. Hence, general liability coverage’s dual protection feature makes it the correct choice for this scenario.