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Liability Insurance

The only way to effectively protect the assets of your business is to carry adequate insurance cover. Liability insurance protects your business from damages caused by bodily injury or property damage for which your business is found to be legally liable.

What Does Public/Products Liability Insurance Cover?

A comprehensive public and product liability policy provides cover for claims of bodily injury or other physical injuries, personal injury, advertising injury and property damage as a result of your products, premises, or operations. As a safeguard against liability, the policies allow you to continue your normal operations while dealing with real or fraudulent claims of negligence or wrongdoing. Liability policies also provide cover for the cost to defend and settle claims. Typical liability policies may cover:

How Much Cover Does Your Business Need?

The cover that your business needs depends on:

Typical Exclusions and Limitations

Employers’ Liability

Employers’ liability insurance protects employers from claims of negligence made by employees who suffer injury or ill health due to their work. Unlike most other types of insurance, employers’ liability insurance is compulsory. If you employ workers based in England, Scotland or Wales (including offshore installations or associated structures), your company must carry employers’ liability insurance to avoid fines.

How Much Cover is Needed?

You are required by law to carry at least £5 million of Employers’ Liability cover. However, depending on the size and the nature of your business, the minimum level of cover may not offer your company adequate protection. An experienced insurance professional like our team can help you evaluate your risks and liabilities to determine the right amount of cover for your business needs.

What Happens if I Do Not Have Employers’ Liability Insurance?

The Health and Safety Executive (HSE) enforces the law on employers’ liability insurance. You can be fined up to £2,500 each day you are without suitable insurance. If you do not display the certificate of insurance or refuse to make it available to HSE inspectors when they ask, you can be fined up to £1,000.

How Can I Reduce My Premium?

It doesn’t make sense to change the nature or scale of your business just to reduce your premium, and you cannot change your company’s past claims history. The one factor you can influence is the quality of your health and safety risk management system. Not only can implementing a robust health and safety risk management system reduce your premiums in the short term, but it may also lead to a reduction in future claims—which will mean lower premiums in the future.

If you’re looking for a single liability policy such as Public or if you would like a combined policy which includes all three, please call us on 01925 919404 or complete our quote form and a member of our team will get in touch with you as soon as possible.

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Let us know how we can help you. Fill out our contact form and we’ll be in touch as soon as possible, or when it’s convenient for you.

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