What is liability insurance?

Liability insurance is needed when you run a business or in cases where you are holding a business event. There are a number of different types of liability insurance, and a good Insurance Brokers Bath way such as www.markrichard.co.uk/areas-we-cover/insurance-brokers-bath can help you work out those that are most appropriate for your needs. In general liability, insurances help to protect businesses against any risk that may occur as a result of claims made against them or any lawsuits that are filed.

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The main types of liability insurance include public liability, employer’s liability, product liability and professional liability (which is also known as professional indemnity insurance). The three most common ones are explained in more detail below.

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Public liability insurance helps to cover your business should any actions that are undertaken by the company or its employees that could have a negative impact on members of the public. This is most commonly used when you have premises and if you offer products and services to your customers.

Employer’s liability insurance covers a business in cases where a current or ex-employee sues the company for any injury or illness that occurs as a result of their work.

Professional Liability Insurance helps to cover your business against any advice that your company gives to your customers and clients in a professional capacity. It also helps to protect the customer should a customer make a formal complaint against the services that you have given them.

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