What can it cover?

Public Liability Insurance helps protect your legal liability to third parties, including clients, customers and the public for injury or damage to their property, caused by your business. It can even cover emotional distress or shock that your business causes another person. Product Liability Insurance is designed to help protect your business if you’re sued because a product you sell, assemble or supply has caused harm to a person or property. It will generally pay your costs of investigating, defending and settling claims, as well as any compensation payment you are found legally liable to pay.

Not insuring your Business against Liability is a risk, "It won’t happen to me" is not a risk worth taking.

Who should consider it?

While Public and Product Liability insurance isn’t mandatory for most businesses, it is recommended for all companies. That’s because the unpredictable nature of accidents makes them hard to prevent – and the costs of being sued can be extraordinarily high.

Did you know?

In 2013, there were close to 32,000 public liability claims made. Of these claims, just over 9,000 were claims for bodily injury.

(APRA, Review of Claims Trends for Liability Insurance in Australia, 2014)

In 2014, property and business services was the sector with the highest exposure to public liability risk. It was followed by construction; retail; agriculture, forestry & fishing; personal services; and health and community services.

(APRA, Review of Claims Trends for Liability Insurance in Australia, 2014)

Since 2012, the Australian Competition and Consumer Commission (ACCC) has recalled an average of 429 products each year.

(Shine Lawyers, ‘China-Australia Free Trade Agreement: potential commercial implications’, 2017)