When you know you’re liable

Am I missing something here?

What the difference between:

  • Public
  • Products
  • Employers Liability
  • And Professional Indemnity?

At heart these covers all protect the policy holder from claims made against them by other people and in respect of the first three, they all deal with DAMAGE or INJURY caused, that is:

  • Public Liability – Injury or damage caused to people outside the organisation, by employees.
  • Products Liability – Injury or damage caused to people outside the organisation, by the product that is manufactured, sold or supplied.
  • Employers Liability – Injury or damage to employees or their property in the course of their employment.

These covers should in essence be bought by all businesses, including products where they exist and by law where employees exist. This includes directors in a limited company or partners in a limited liability partnership.

Failure to arrange the correct employer’s liability insurance can result in fines up to £2,50 per day or up to 6 months in jail!

Professional Indemnity is totally different, it covers – Financial Losses suffered by customers, where they allege the financial loss is a result of the negligence errors or omissions of the consultant.

This is normally bought by professional advisors or businesses providing a service, where a standard is expected. In some sectors it is mandatory, Solicitors, IFA’s, Accountants, Insurance Brokers, Architects, Surveyors and the like.

If you want to know more make contact, so we can give #openhonesttransparent advice – 029 20 470 375 or email nigel@severnbay.com


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