Public & Products Liability

What is Liability cover? A Standalone Property policy aimed at Industrial Special Risks is one similar example. If there are claims for third party property damage or injury due to acts of negligence while conducting daily activities, public liability insurance comes in handy. Product liability insurance is able to reimburse you in such situations. For medium to large businesses, a standalone products liability cover is an ideal option as they have greater exposure than small-to medium enterprises (SME’s).

Extensions such as Product Recall (limited) expenses, Third Party Financial Loss (limited) as well as Errors and Omissions cover can be included in Liability Insurance policies.

For businesses producing items of sale to the public, it is advisable to have product liability insurance to protect your business. Property damage or personal injury made due to the product sold by your company to a customer can incur costly claims. It is important to have your business covered for such possibilities so that your business functions do not come to a grinding halt.

Products liability covers compensations that you may be required to pay to a third party. Moreover, it can also cover the costs of your defence such as legal fees. It is important to understand that this insurance type covers only third claims and not ones made by your employees.

IM Guru ensures that as businesses open up again, they are not left vulnerable in already unsteady circumstances. Our experts understand your needs before offering suitable solutions. We offer product liability insurance at competitive prices in Australia.