Public and products liability insurance policy covers a wide range of business mishaps, legal costs and compensation payments resulting from accidents. Every business needs a public and liability insurance policy that is tailored to its specific risks and requirements.
Many small businesses do not secure a liability insurance policy due to the cost of premiums. However, in the event of a claim, out-of-pocket costs for a legal defense or settlement can far exceed premium costs. In some cases, the costs of a claim could be enough to shut down a small business.
Brokers National offers a range of liability insurance packages which can protect your business from losing money if any accidents happen.
If you sell, supply, import or deliver goods, even in the form of repair or service, you may need cover against claims of goods causing injury, death or damage.
What is Public and Products Liability?
Public Liability
Public liability protects you and your business against the financial risk of being found liable to a third party for death or injury, loss or damage of property or economic loss resulting from your negligence.
Products Liability
Products Liability covers you and your business against the financial risk of being found liable to a third party for death or injury, loss or damage of property or economic loss resulting from the failure of your product or the products you are selling.
Limits of Liability
The insured can choose from the following liability limits:
$5,000,000
$10,000,000
$20,000,000
Higher limits can be obtained if required.
