Public Liability Insurance
Public Liability and Products Liability Insurance are a type of coverage that protects individuals and businesses from the risk of being held legally responsible for damages or injuries caused to another party. This insurance helps cover legal costs, medical expenses, and other financial liabilities that might arise from accidents, mistakes, or negligence.
There are several types of liability insurance, including:
Product Liability Insurance: Provides protection against claims arising from defective products that cause injury or harm.
Public Liability Insurance: Covers claims made by the public for incidents that occur in connection with the business activities.
General Liability Insurance: Covers a broad range of potential liabilities, including bodily injury, property damage, and personal injury.
Professional Liability Insurance: Also known as Errors and Omissions (E&O) insurance, it protects professionals from claims of negligence or inadequate work.
Employer’s Liability Insurance: Protects businesses from claims made by employees for work-related injuries or illnesses not covered by workers’ compensation.
Property Damage: If the property is damaged due to your actions or your product, public and products liability insurance can cover you for your liability to pay damages to the claimant.
Advertising injury: Liability arising out of advertising carried out by or on behalf of the insured.
Liability insurance is essential for protecting the financial stability of individuals and businesses by covering the costs associated with legal claims and settlements.
Frequently Asked Questions: Liability Insurance
Who Can Purchase Public Liability Insurance ?
Public Liability insurance can be purchased by a wide range of individuals and entities, including:
1.Small Business Owners: Retail shops, cafes, Restaurants and other small businesses.
2.Contractors/Subcontractors and Tradespeople: Builders, electricians, plumbers, and other trades.
3.Freelancers and Consultants: Those who provide professional services or advice.
4.Event Organizers: Individuals or companies planning events such as festivals, markets, and exhibitions.
5.Landlords: Owners of rental properties to protect against claims from tenants or visitors.
6.Non-Profit Organizations: Charities, clubs, and other non-profit groups.
7.Corporations and Larger Businesses: Companies of all sizes that interact with the public.
8.Self-Employed Individuals: Sole traders and entrepreneurs.
9.Sports and Recreation Clubs: Organizations that involve public participation in sports or recreational activities.
10.Educational Institutions: Schools, colleges, and universities.
Public liability insurance is essential for anyone who interacts with the public, as it protects against claims of injury or property damage that could arise from their business operations or activities.
Is Public Liability mandatory ?
Public Liability Insurance may be a prerequisite for obtaining licenses in certain trades. If your work involves interaction with the public or if you have a physical location where the public can visit, we highly recommend having Public Liability Insurance.
What is the difference between Public Liability and Professional Indemnity ?
Public Liability Insurance covers the costs related to third-party claims for personal injury or property damage caused by your business operations or products sold or supplied by your business.
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Kirsty is tenacious and driven in both her professional and personal pursuits. She is a go-getter, consistently inspired by the entrepreneurial spirit of Elon Musk. Outside of work, she enjoys yoga, boxing and jet skiing. She placed third in the world for karate at the age of nine, and now holds a Black Belt First dan in Karate.
For more information, download our helpful guide for a more in-depth look at Public Liability Insurance
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