I hear so many people requesting Public liability when they really mean Professional Indemnity, Employment Practices Liability when they really mean Employers Liability.
So what are these covers and what do they do?
Here is a simple guide:.
Professional indemnity: This protects you against your legal liability toward a third party. So if you, or an employee, make a mistake which causes a financial loss and a client tries to sue you – this covers you!
Public liability: This also protects you for your legal liability against third parties but for damage or injury. So if you manage to injure or damage a third party’s property in the course of your business activities then this covers you.
Employers Liability: if you employ staff you have to have this cover. It insures you for your liability to your employees if they develop a disease or injury as a result of their employment with you.
Employment Practices Insurance: This covers you for any claim your employee may bring against you for employment matters ie unfair dismissal, harassment and other similar employee/employer disputes
So that provides a very short concise guide to some of the key business insurance covers out there.
Feel free to call 0207 648 4343 if you need to know more.