Public Liability Insurance

There is a long-established concept in English common law called the “good neighbour principle”. Anyone owes a “duty of care” to avoid causing injury or property damage to their neighbour – and includes both actions taken and any failure to act.

You, your employees and your business owe that same duty of care to callers to your premises, customers you may meet on their own property, neighbours and members of the general public.

Public liability is often considered one of the principal risks faced by any business, since claims alleging negligence in your duty of care may assume very significant proportions – significant enough to threaten the very future of the business and its viability.

What is public liability insurance?

What is public liability insurance?

As the name suggests, public liability insurance provides you and your business with an indemnity against public liability claims – allegations that you have been negligent in your duty of care towards anyone unconnected with the business who has suffered a personal injury or suffered financial loss through damage to their property.

There is a host of different incidents which might prompt such a claim – such as a visitor tripping over a loose carpet in your offices or loose tiles from the roof of the premises you own being blown onto a neighbour’s parked vehicle.

Especially where injury or even death is concerned, public liability claims may reach substantial amounts and, for that reason, businesses typically seek cover of at least £1 million – and frequently more.

What does it typically cover?

What does it typically cover?

The insurance typically covers the costs of claims made by third parties in respect of:

  • personal injury;
  • their death; or
  • loss or damage to their property.

Policies vary from one insurer to another, so you might want to consult experts such as ourselves here at Specialist4Business to determine whether the policy you need covers public liability risks that occur:

  • on your own business premises only; or
  • also during activities or events that take place off-site – in your customer’s home or place of work, for example.

It is important to note that public liability insurance does not cover you against claims made by your employees, temporary staff, people on work placements, students or interns – for this you need employers’ liability insurance.

Who is public liability insurance suitable for?

Who is public liability insurance suitable for?

Any business is at risk from public liability claims. If you have callers to your premises, are out and about serving your customers’ needs, or organise events attended by members of the public, your business is at risk of someone suffering an injury, or having their property damaged, and holding you responsible because of some action – or inaction – the injured party considers to have been negligent.

Because public liability insurance protection is so central to many a small business, here at Specialist4Business we have developed an expertise and experience in arranging such cover – a strength which may benefit your business too.

Summary

Summary

All businesses face risks and perils of one sort or another, yet public liability claims remain one of the most common and, potentially, one of the most financially damaging to the future of your enterprise and its viability.

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