Public Liability
Public Liability provides for death, bodily injury or accidental loss or damage to third parties arising out the business activities of the insured.
Coverage addressed the legal liability of the insured and their employees for loss or damage caused during the course of their business activities on behalf of the firm.
This coverage will usually apply at the insured's business premises and elsewhere within the insured territory for general business purposes, but may also be extended include specific types of work, such as overseas visits and site related work, specified for the purpose as an extension to the basis coverage.
There are no compulsory requirements for Public Liability Insurance, however these policies provide for legal costs and expenses in defending a claim, which can be included or in addition to the sum insured and it is recommended that a limit is selected which is commensurate with the level of business activity and risk posed to others from the activities of the insured. It is usual for limits of no less than GBP 1,000,000 to apply.
In addition, it is also possible to add a Multiple Insured's Clause or to purchase coverage on a project specific basis for large endeavours which require the inclusion of many parties under a 'single project' type policy. This is particularly useful in protecting the insured against disputes arising between different parties and avoids the risk of cross-liabilities.
MARNIX are experienced in arranging both annual and project related liability insurances and can advise you on the precise product and service you may require to suit your business needs.
Products Liability
Covers liability for third party injury or damage arising out of a product or service supplied by the Insured. It includes coverage for defective products arising out of the manufacturing process or for which the insured are responsible as the supplier of goods or materials. This coverage is usually an extension to a standard Public Liability policy.
It also extends to cover the legal cost and expenses of defending an action or claim for damages. Products Liability does not cover defects in design or specification or fitness for purpose that does not result in injury or damage; which are the subject of a Professional Indemnity insurance coverage.
Certain products and materials may require specialist consideration.
MARNIX are experienced in arranging this type of insurance and can advise you on the most appropriate solution to help protect your business interests.