A customer may choose to sue if they become injured in your workplace, or if your product or service is incorrectly sold.
Whilst the likelihood of being sued by a customer/client might seem minimal, it can happen. This is particularly true of businesses that operate in the public sector, where multiple third parties and visitors may enter the premises and be at risk of incident.
Therefore, it is important for your company to be prepared for this difficult situation. That’s where liability insurance comes in.
There are several variations of this cover, but today we will take a look at the two primary types that apply to your business in the event of a potential law suit.
If your organisation functions in a publically accessible property; or if it operates on client sites, this cover is required. It will protect you by covering legal defence costs when necessary, in case a customer has an accident which causes injury. In a situation where you must pay compensation costs, these will be included also.
Even if the footfall to your premises is relatively low and you have a rigorous health and safety policy, it is still important for you to consider the risk of a claim and purchase cover accordingly. Accidents can happen, and your business shouldn’t have to suffer.
Whilst products liability insurance isn’t compulsory in all countries, here in the UK it is required to hold some form of cover if you manufacture or supply goods. That is because it encompasses the responsibilities of any injuries caused by products.
If someone becomes injured by your product, this insurance will cover the costs of compensation. This can even apply if you did not originally manufacturer the product, particularly if your business name is on the item or the product was imported from outside the EU.
You can find out more about products liability and safety law here.
Here at Covered Insurance we provide public and product liability cover for a variety of industries, including but not limited to Engineering and Wholesalers.
Get in touch with one of our friendly team today to discuss your needs by calling 0845 862 2727 or by filling in a contact form.