Public & or Products Liability Insurance - Overview
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Read this guide to assist you in assessing your insurance requirements.
Public Liability Insurance
Covers the cost of compensation in respect of Personal Injury or Property Damage to the public and includes cover for your legal fees incurred as a result of the business being held legally liable by a third party.
Product Liability Insurance
Covers claims as a result of your products that you become legally liable for.
Increased litigation in the past few years has resulted in requests for business owners to prove they hold public liability insurance before they can proceed with certain aspects of their business, eg local councils require a certificate of currency of the businesses public liability insurance for footpath liability noting their interests, before they will allow the business to use the footpath area outside of the bussines to either display goods for sale or in the case of restaurants or cafes use the footpath area for tables & chairs for customers, or organisers of trade shows require coc for exhibitor stalls. This is evidence of how councils are transferring some of their public liability risk to the business operator.