Business Insurance

Public liability insurance

Public liability insurance covers the cost of claims made by members of the public for incidents that occur in connection with your business activities.

Public liability insurance covers the cost of compensation for:

  • personal injuries
  • loss of or damage to property
  • death  

Policies vary from insurer to insurer, but most public liability policies cover you for:

  • incidents that occur on your business premises
  • incidents that take place off-site, at events or activities organised by your company

 

Product liability insurance

Product liability insurance covers the cost of compensating anyone who is injured by a faulty product that your business designs, manufactures or supplies.

What it covers

Product liability insurance protects you against the cost of compensation for:

  • personal injuries caused by your faulty product
  • loss of or damage to property caused by your faulty product
  • unforseeable circumstances such as product faults that your quality control system could not identify

Product liability insurance may not cover you for:

  • faulty products resulting from bad workmanship
  • financial losses to a business or person caused by your faulty product

If you do not manufacture the product but you distribute it, you should be covered if you can show that:

  • the products were faulty when they were supplied to you
  • you gave customers adequate safety instructions and warnings about misuse
  • you included terms for the return of faulty goods to the manufacturer
  • your supply contact with the manufacturer covers product safety, quality control and returns
  • you have good quality control and record-keeping systems

 

Employers liability insurance

Employers’ liability insurance covers the cost of compensating employees who are injured at or become ill through work.

Who does it cover?

Your policy should cover claims brought by:

  • all permanent employees
  • contract, casual and seasonal employees
  • labour-only subcontractors
    • an employee is someone:
      • who cannot be replaced by their employer if they are unable to work