Public and Products Liability
What is Public Liability Insurance?
If an accident or unforeseeable incident causes damage or injury to someone (other that your employees), you may be found legally liable to cover the costs.
Public liability insurance can help to protect your business from the financial risk of liability claims - giving you the certanty you need to trade with confidence.
What is Product Liability Insurance?
No matter how stringent your company is, mistakes can happen. For example. you may design or sell a product that causes a 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 your business if you're sued because a product you sell, assemble or supply has caused harm to a person or property.
Anyone can make a mistake - but if your business is found liable for negligence, the costs can be financially devastating. Not only can it lead to an expensive lawsuit, but your business' hard-earned reputation may be damaged as a result.
That's why professional indemnity insurance matters - for help protecting your assets and brand if your advice or insurance causes a client to take legal action against you.
Business Legal Expenses
Covers business against the legal expenses occurring as a result of disputes or lawsuits. This insurance can assist with some common business troubles, such as:
- Defending against unfair dismissal claims from former employees alleging unfair dismissal
- Contractual disputes with suppliers
- Damage for some trespassing or causing a nuisance on your property
- Tax Audit or Investigation
- Your license is being threatened with suspension or being revoked
When you're running a business, you may be personally liable for any actual or alleged breaches of the Corporations Act. And it's not just large companies that are exposed - small and medium business owners and officers could be at risk as well.
Management liability insurance covers the costs of defending directors, managers and employees against any claims that are a result of their actions or decisions.
If your business suffered an unexpected disruption, such as a fire, flood or storm, or a major supplier closes because of one of these events, how long would it take to get it up and running again? And how much would you lose along the way?
Business interruption insurance can help make sure your business keeps running smoothly after an unexpected event, by covering the turnover that is lost - so you can recover and rebuild.
Fire and Perils
Under this section of the business policy, you can insure your assets and the assets of others which you are responsible for. Cover can include fire, lightning, aircraft, sonic boom, earthquake, storm, tempest, rainwater, wind, water, riot, civil commotion, strikes, vandalism, explosion, impact by vehicles, impact by trees and accidental damage.
Under this section, you can insure your assets and the assets of others, which you are responsible for. Cover, can include destruction, loss or damage caused by: theft or attempted theft, following forcible and violent entry or theft consequent upon threat of immediate violence or violent intimidation.
Provides cover for replacement cost of either external glass or internal glass, or both. Also allows cover on specified glass such as signs etc.
Money can be insured against theft as well as loss, destruction or damage caused by an accident. Money may be insured:
- In Transit
- On premises during normal business hours
- On premises outside normal business hours
- Whilst contained in a securely locked safe or strongroom
- In Private Residences
Provides cover against fraud or dishonesty by your employees, which results in a direct loss of money negotiable instruments or goods.
Covering breakdown or pressure, mechanical, electrical and electronic equipment, such as refrigeration equipment, electric motors, air conditioners, cash registers and machinery. Cover can include deterioration of refrigerated stock, loss of business income and the cost of hiring in temporary replacement equipment.
Cover includes damage to Computer Systems and Electronic Equipment and Breakdown. This section can be extended to include temporary removal from your business address, breakdown, reinstatement of data costs following insured damage, temporarily hiring in replacement equipment and accidental or malicious erasure of data.
This insurance covers costs incurred by your accountant or registered tax agent (after receiving notification from the Australian Taxation Office) in conducting an audit or investigation in relation to your liability to pay tax.
When business travel doesn't go to plan, corporate travel insurance can help to cover out-of-pocket costs to your business and employees.
- Overseas Medical, Dental and additional Expenses
- Resumption of Overseas Journey
- Hire Car Excess Waiver
- Luggage and Travel Documents
- Accidental death, disability and loss of income
- Extra Territorial Worker Compensation.
Voluntary Workers Personal Accident:
This policy has been designed to provide income protection to people who are injured while performing voluntary work.
The policy is usually arranged by the organisation for which the volunteer performs work, but the benefits, should an injury occur, are paid to the volunteer worker.
The amounts for the benefits can be negotiated prior to cover being taken out.
The cover selected can include:
- Accidental death
- Total or partial permanent loss of limbs, sight or hearing
- A capital benefit for temporary or permanent incapacity to perform any occupation for at least one year
- A weekly benefit if the insured person is incapable of carrying out all or some of the usual duties of the insured person’s usual occupation.
Cover for your goods/stock whilst in transit.
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