What is it?
Public Liability Insurance is the most basic insurance protection. The term “Liability” simply means obligation, so in terms of Public Liability Insurance, this is simply protection for your obligations to others or members of the public.
Public Liability Insurance is to protect you from the financial costs associated with an accident or unforeseeable incident that causes injury to someone (other than injury to your employees) or damage to the property of others.
Who is it for?
“Public Liability insurance helps protect you and your business against the financial risk of being liable for negligence - Australian Government - business.gov.au”
Whilst it isn’t actually mandatory or legally required for most businesses, it is highly recommended for all businesses, including sole traders and partnerships, businesses that operate from a trust, and of course businesses that operate from a company structure.
It doesn’t matter how stringent your company is with compliance and risk management, mistakes can happen.
What is normally included?
What is normally excluded?
There are many types of “Liability Insurance”, Public Liability, Products Liability, Management Liability, Environmental Liability, Employers Liability to name a few of the more common. A Public Liability policy does not cover all liabilities in business.