Public Liability

Considered a must-have for business owners, public liability insurance protects you if someone sues you for personal injury or damage to their property.

If you don’t have public liability insurance, compensation payouts and legal costs can potentially cripple your business. Even small businesses need this coverage. For example, if you run a retail outlet and a customer trips in your store, you could potentially be sued. Public liability will help protect and compensate you should this happen.

Product Liability

Don’t let a single faulty product ruin your business!

Product liability insurance can protect you against any financial losses if someone claims a personal injury or property damage has been caused by a product your business provided.

The definition of a ’product’ can vary, however, if the product you supply does cause injury or property damage, product liability insurance will help to cover the cost of damages that may be awarded, as well as the costs of defending the claim made against you.

Even if you are found to be not guilty, product liability insurance will help with your defence costs.

Why you should consider it.
Public liability

While public liability insurance isn’t mandatory for many businesses, we strongly recommend it regardless of your operation.

 If an accident or unforeseeable incident causes damage or injury to someone (other than your employees), you may be found legally liable to cover the costs.

The unpredictable nature of accidents makes them hard to prevent – and the costs of being sued can be extraordinarily high and ruin your business – so protection is essential.

Public liability insurance can help to protect your business from the financial risk of liability claims – helping you trade with confidence.

Product liability

Whether your business makes, assembles, grows, promotes or supplies products to individuals or companies, public liability insurance should be given serious consideration. As with public liability, one unexpected incident may be enough to financially ruin your business.

No matter how careful your company is, mistakes can happen. For example, you may design or sell a product that causes customer harm. Even if you’re not at fault, you could risk serious financial damage through legal and court costs if a customer decides to sue you. Product liability insurance is designed to help protect if you’re sued because a product has caused harm to a person or property.

What does it cover?
Public liability

Public liability insurance helps legally protect you for injury or damage your business has damage to third parties including clients, customers and the public. It can even cover emotional distress or shock that your business causes another person. Public liability insurance will generally pay your costs of investigating, defending and settling claims, as well as any compensation payment you are found liable to pay.

Potential benefits:

  • Personal injury: If somebody is wrongfully injured by your actions or your product, public liability insurance can cover you for your liability to pay damages
  • Property damage: If property is damaged due to your product, public liability insurance can cover you for your liability to pay damages
  • Advertising injury: This is liability arising from advertising carried out by or on behalf of the insured
Product liability

Product liability insurance protects against claims of personal injury or property damage caused by products sold or supplied through your business. It is designed to help protect your business by ensuring that if this happens, you don’t have to pay any legal or court costs.

What isn’t covered?
Public and product liability

Policies generally won’t include cover for:

  • Cost of rectifying faulty workmanship
  • Damage to your product
  • Claims by employees
  • Claims arising out of the use of a registered motor vehicle
  • Claims related to asbestos

Please talk to us about what may or may not be appropriate for your coverage.

How can we help you?

Contact us at the GIBA office nearest to you or submit a business inquiry online.