Where an accident occurs which is not reasonably foreseeable and causes damage to someone’s property or injury to a person, the business may be legally liable. The damage may be caused by any number of exposures a business faces, on or off your premises, it may be in a public place or alternatively it may be from a product that you have manufactured, sold or supplied.
In Australia, even if you have not manufactured the products yourself, but you simply assemble or import the goods; you may be deemed to be the manufacturer or be otherwise liable.
A public and products liability policy can protect from the financial risk of these claims. These policies pay the costs to defend or settle, and cover compensation costs for the injured party.
These liability policy will generally have two separate limits – one for public liability and one for products liability.
We assess your requirements for Liability Insurance, or we can check what you may already have in place. Delivering one of the following outcomes:
Make sure you understand the risks faced by your business.
As an initial comment, sometimes cover in this area is not as expensive as you might think. Hard to quantify the cost here, but we can benchmark your industry and give you the guidance you need.