Legal Liabilities Insurance

If you run your own business, you’ll need at least one of the following forms of Liability Insurance:

  • Public liability
  • Products liability
  • Employers liability
  • Professional indemnity
  • Directors and officers indemnity
  • Cyber liability
  • Property owners liability

Public Liability
Covering a negligent act that causes injury or death or damages property.

Products Liability
The goods supplied to your customer must be of merchantable quality and t to use. If not the resultant damage caused is actionable.

Employers Liability
This cover is COMPULSORY by law and is seen as ‘Strict Liability’ where negligence against the employer need not be proven in many cases.

Professional Indemnity
Where you give advice or supply designs then this policy is an excellent way of protecting yourself.

Directors and Officers
If Directors of a limited company, or a person with a decision making role doesn’t perform within their duties and damage results, then you’ll need to have cover in place.

Cyber Liability
If your computer records or storage are hacked and your customers details are stolen, then you are accountable, with penalties of up to 4% of turnover. An ever growing problem that you can now
insure against.

Property Owners Liability
If you own property and either occupy it or lease it out, this is must have cover.

Recommendations
We recommend the following Indemnity limits. As some clients require higher limits, each case is reviewed and discussed accordingly.

  • Public / product and property owners liability – a minimum of £5,000,000.
  • Employers liability – legally £5m minimum but insurers offer £10,000,000.
  • Directors and officers / cyber / professional indemnity – TBA

Whatever limit is chosen, the indemnity needs to include your legal costs.

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