Public and Products Liability Insurance
What is it?
Public and Products liability insurance protects businesses against the costs of compensating third parties if they suffer bodily injury or damage to their property. This does not include employees, who are protected under Workers Compensation Insurance, or incidents caused by motor vehicles which are not usually covered by this type of insurance. This type of cover pays for the claimants' legal costs, the costs of defending the action as well as the cost of compensation to the claimant third party.
Why do you need it?
Businesses have a duty of care to their customers and the general public. In today's increasingly litigious world, companies and other organisations are increasingly likely to find themselves held liable for accidents and events that cause injury to these third parties or damage to their property.
Claims examples
- You or an employee attends a client's premises and inadvertently leave a power cord across a hallway, tripping a person at the premises. You are sued for bodily injury for your liability for not taking reasonable care or ensuring your employee takes reasonable care to avoid injury
- A client attends your premises with a broken notebook for repair. You accidently drop it, smashing it beyond repair. You are responsible for the replacement of the equipment and potentially for the loss of data stored on the hard drive
