There are several types of Liability insurance that you need to be aware of. Whether you are looking for liability insurance as self-employed or for a multi national business, liability cover is essential and Bromwall are experts in delivering the correct cover to their clients.
Employers Liability insurance is a statutory requirement for all businesses who have employees either direct or sub-contractors. A business has to keep details of their Employer’s Liability Insurance for 40 years. If you are buying a business, as part of the diligence the insurance history must be investigated. If you can’t establish the past insurers, then you may have a claim from a past employee and, if this is a serious industrial disease, your business may be responsible for a very large insurance claim.
Public liability insurance (sometimes referred to as general liability) provides protection against insurance claims from a third party, for example, if someone injures themselves due to the fact that your building is dangerous.
Some USA buyers especially the larger companies that buy your goods for resale may impose special requirements for Products Liability and request proof in the form of an insurers endorsement or an ‘Acord Form’. We can advise on this. Bromwall is “acord form” friendly! Those new to exporting to the USA will soon be asked to provide proof of cover in the required format. Can your existing Broker produce Acord forms? Our experience has lead us to discover very few Brokers know what an Acord form is. Don’t let your insurance provider prevent you from trading with the USA. You can also check out our US Liability page.
It’s essential to carry the correct insurance to protect the assets of your business. So why do you need public and products liability? This cover will protect your business from any damages, alleged or actual, for damage caused by bodily injury, property damage or disease. A policy will look to pay or defend a claim brought against you.
A good policy will provide cover in the event you receive a claim for bodily or physical injury, personal injury, advertising injury and property damage as a result of something happening from using or being in you premises, products or the way you operate your business. A policy will allow you to trade normally while the insurance deals with the situation, whether actual or alleged.