Public Liability Insurance

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Public Liability Insurance It refers to business insurance that covers claims by the general public for medical expenses and other costs resulting from injuries, death, and property damage involving your business. The general public includes customers, visitors, and delivery personnel. Public liability claims can arise from several circumstances, but negligence is the main trigger. It is a type of insurance for businesses of all sizes, across a variety of industries. Therefore any business that interacts with clients, customers, and other members of the public should consider public liability insurance. If a client suffers a slip-and-fall injury at your workplace, or if you or your employee damages a customer’s property, it could lead to expensive medical bills or repair costs, or even a lawsuit. Public liability insurance can help reduce the financial impact on your business, OR you accidentally knock over a mug of coffee, damaging a client’s laptop during a meeting, your policy will cover the associated compensation costs. There is no legal requirement to get public liability insurance, unlike other covers. However, if someone sues your company, you will have to pay all legal fees yourself. If you lose the case, you could also be burdened with the costs of a cash settlement. What is not covered in public Liability Insurance: -Completing, correcting or improving any defective work -Asbestos products, or materials containing asbestos -Liability for advertising injury caused by trademark infringement, -Incorrect product description, a mistake in advertised price or a failure of performance of contract -Damage caused by flood If you run a business, other people can take you to court. Public liability insurance guards against claims that can cause stress and cost you time and money. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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