Liability Insurance

In business you are responsible for the safety of the public and employees. If someone feels they have lost out financially because of your actions. You could be liable. Liability cover aims to protect you against such claims. There are four main areas to consider for a business:
Public Liability – if someone is injured on your premises
Whether you are a business owner or tradesman, public liability insurance will cover your legal costs if you are sued by a member of the public if injured as a result of your negligence. It also covers any compensation costs following a legal claim against you – potentially keeping your business running.
Product Liability
This would cover you if any of your products inflicts harm to a member of the public and they take you to court for damages incurred. For example, if you sell a ladder to a customer and it breaks through no fault of their own, causing injury, this insurance will cover you for damages claimed.
Cover for Libel and Slander Claims
This type of insurance will cover you should someone believe that you have written or said something about them that is inappropriate – i.e. possibly untrue. These cases can often prove very expensive and the insurance covers you for legal fees, the cost of defending the case as well as damages claimed.
Directors and Officers Liability – covering senior managers against legal action even after they retire
A directors and officers insurance policy offers protection needed whilst acting on behalf of a company and will cover your directors against any claims brought against them.
Employers Liability
Whether you’re a one man band looking to hire in some help for your growing business or you’re simply looking to expand your workforce, it very important to consider what employers’ liability insurance cover you require should the unthinkable happen. An employers’ liability insurance policy can cover the cost of compensation should an employee incur an injury or illness as a result of the work they are carrying out on behalf of the business. It is common sense to have this cover, no matter how big or small the company is.
Professional Liability
This is available for a wide range of UK based professionals using their skills and expertise as a service. Whether you are a designer, marketing/PR consultant or therapist, it is important to consider what cover you need should anything happen whilst at work. An example where this policy would cover you is if your advice turns out to be incorrect, leading to losses for your customer.

Need more help?
This feature aims to give some informal hints and tips. Mcphersons are offering businesses free advice so get in touch now to arrange your meeting. Mcphersons have partnered with a leading insurance provider, Towergate, to offer the best insurance solutions for our clients.