A customer slipped, fell and fractured her shoulder on a wet floor in a spa. She required surgery to her shoulder and could not work for 12 weeks. She underwent 4 months of physiotherapy following the surgery. She made a claim against the spa owner who relied on their Public Liability insurance cover to award her accident compensation for lost earnings, medical costs as well as pain and suffering she endured as the result of the accident that happened at the spa.
Public Liability Insurance protects your business and you from legal claims and crippling compensation costs against
- Accidental bodily injury or illness to public
- Accidental loss or damage to 3rd party property
Public Liability covers your business if it is sued for injury or damage. It can also include all costs and expenses of litigation recoverable by any claimant against you.
Who needs Public Liability Insurance?
Public Liability is a pre-requisite for certain businesses. E.g. Public liability is a pre-requisite before works can commence for contracting / renovation projects for commercial and private residential properties.
It is also becoming increasing common for landlords of commercial leases requiring their tenants to take up a public liability policy that insures not just the tenant but also the landlord.
Unlike other commercial general insurance such as Work Injury Compensation Insurance, Public Liability insurance is not mandatory for some businesses.
While you may not be legally required to have public liability insurance, it is worth thinking whether you can afford to meet the cost of compensation if your business was sued. For example, a supplier slips on a wet floor while in your office on a delivery run.
Consider the nature of interaction your business has with the public on a regular basis:
- Do you have customers coming to your place of business on a regular basis, e.g. office, retail shop, restaurant, beauty salon?
- Do you or your employers work on client’s sites?
- Do your clients require you to have Public Liability cover?
How is ALLEGIANCE different from others?
Unlike car, travel, home insurance, business liability insurance is not one size fits all. We make it our business to understand the specific risks exposures and challenges inherent in our client’s business by thoroughly understanding their nature of business and work processes. Armed with this knowledge, we proactively suggest solutions instead of merely reacting to request.
For a discussion, contact us today at 6238 3616 or email: firstname.lastname@example.org