What is Liability Insurance?
Liability insurance protects your business against claims made by third parties for injury, damage, or financial loss. It is one of the most fundamental types of business insurance, and in some cases, it is a legal requirement.
Types of Liability Insurance
Public Liability Insurance
This covers claims from members of the public who are injured or whose property is damaged as a result of your business activities. While not legally required for most businesses, many clients and contracts demand it.
Employers' Liability Insurance
If you employ staff, employers' liability insurance is a legal requirement in the UK. It covers claims from employees who are injured or become ill as a result of their work.
Professional Indemnity Insurance
This protects against claims arising from professional advice or services you provide. If a client suffers financial loss due to an error, omission, or negligence on your part, professional indemnity cover will protect you.
Product Liability Insurance
If your business manufactures, supplies, or sells products, product liability insurance covers claims arising from products that cause injury or damage.
How Much Cover Do You Need?
The level of cover you need depends on your business size, sector, and the contracts you hold. A specialist insurance broker can help you assess your risks and recommend appropriate cover levels.