If you own a business, you may be liable for damages or injuries to another person or property. In running a business incidents may occur that cause you to be liable for damages or injuries to another person or property. Though liability insurance is optional, in most cases it is strongly recommended for businesses in all industries as the likelihood of being sued is unpredictable and potentially very costly.
There are several types of Liability insurance to consider:
Public Liability insurance provides cover for any legal liability incurred to third parties if they are injured or their property is damaged on your premises. The liability can be incurred through negligence on the part of you as the business owner, or your employees.
Product Liability insurance protects against claims of property damage or personal injury caused by products sold or supplied through your business..
Management Liability insurance is there to protect the personal wealth of the Directors / Managers of an organisation as well as the financial interests of the company as a whole against unforeseen incidents such as an employment practices claim.
Directors & Officers Liability
This type of insurance protects directors and officers of a company from personal liability relating to errors or omissions made in connection with their corporate duties. In some cases, directors and officers liability insurance can also cover any money that the corporation is required to pay a director or officer as the result of legal action.
Professional indemnity insurance is designed to cover liability for financial damages incurred by clients as a result of advice provided by you or your employees. This might occur through error, omission or an act of negligence.
Not-for-profit organisations can be at just as high a risk of incurring a lawsuit as for-profit companies. Association liability insurance is designed to protect not-for-profit organisations from liability incurred through the provision of services or the conduct of activities.
Our experienced team can help you get the right insurance cover by assessing your specific needs and recommending the best value insurance solution whilst still maintaining the highest standard of cover.
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The information is not intended to be advice and should not be relied upon as advice. You should always read your product policy wording carefully before making any insurance decisions.