Public Liability insurance covers the business's potential liabilities for personal injury or property damage to other parties not being employees.* This cover is not just for larger organisations. It's equally important for medium to small companies, partnerships and sole traders.
Public Liability claims can occur in many varied ways.
Whilst utilising your equipment at your or a client's premises if damage is subsequently caused to their property a claim may follow. Dropping your coffee on their computers could also be a potential claim.
When your clients visit your premises, if a trip and fall occur due to say, unkempt computer cables, the resulting injury can result in a claim.
If your business premises can be accessed by the public, your business activities potentially cause damage to property belonging to another or if company employees work at or visit client's premises, insurance against public liability claims is a must.
Most tender documents or work contracts contain a clause requiring Public Liability Insurance for a minimum of either $ 10,000,000 or $20,000,000.
Today's higher levels of litigation make this kind of insurance a necessity. Without it, a business may find itself unable to afford the costs associated with defending a claim or paying damages.
In the event of a claim being made against your business, Public Liability Insurance will cover the costs of any legal defence as well as any damages awarded.
*Injury to employees is covered by Workers Compensation Insurance.