Liability Insurance
Public Liability
Public Liability insurance is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Even the most organized business could fall victim of posing a risk to anyone who comes into the business premises which could lead to bodily harm; liability for which falls to the business owner. Public Liability insurance ensures that the business owner has nothing to worry about when issues like this arise. This policy covers any awards of damages given to a member of the public as a result of injury or damage to property caused by your business activities. It also covers any related legal liability to third parties, costs, expenses, and accidental death.
Product Liability
Product Liability is often handled as an extension of public liability. It covers the insured’s legal liability for bodily injury, or loss, or damage to property caused by the Insured’s products to the third party. The policy is designed to cover against unforeseen circumstances arising from defects in the commodities, or goods sold, supplied, serviced or processed by or on behalf of the insured or defects in the containers of the goods or wrong labelling thereof.
This policy is essential for product manufacturers. As a manufacturer or suppliers of goods, there’s always there is always the possibility that your product could cause damage to a third party; a small defect could open you up to massive claims.
If you’re looking for a policy that guards you against safety claims, manufacturing quality, spoilage and indemnity costs (medical bills and so on), then our product liability is for you. Kindly note that you won’t be able to make a claim if you make an inferior product or supply bad services.
Professional Indemnity
If you are a professional or run a business that gives advice, designs, or offers services in a professional capacity, you run the risk of liability for any financial loss or personal harm incurred by a client as a result of such service. Professional Indemnity insurance provides necessary financial protection for professionals in such a sensitive situation due to alleged neglect, error or omission whenever and wherever committed or communicated in the conduct of the insured carrying out their professional duties. This policy meets the cost of defending claims and any damages payable.
This policy is designed to serve those in professional jobs and businesses like:
– Accountants
– Doctors
– Solicitors
– Engineers or Architects
– Web Designers
– IT Consultants
– Recruitment Consultants
Occupier’s Liability
The law defines the ‘occupier’ as the person who is in control of the premises, so this could be the tenant rather than the owner. This means that if you’re a business owner with a business premises, you’re likely to count as an ‘occupier’ whether you rent or own the premises. You’re therefore responsible for taking measures to make sure the premises is safe and free from hazards.
This policy indemnifies the occupier of a building against his legal liability for death, bodily injury to Third Party, or damage to Third Party properties as a result of:
– Fire
– Collapse
– Storm
– Flood
– Earthquake
This policy is useful for all owners of building, tenants, lodgers for educational, business or medical purposes. All business and office premises (government, corporate, private), hotels, guest houses and hostels. Residential buildings that are let out in full or in part, recreational centres, club houses, cinema halls etc. Schools and training institutions, petrol and gas stations.
Group Personal Accident
This policy is a benefit policy where compensation is paid to the insured against loss from accident leading to death, permanent disability, temporary disability incurred during the course of employment and this covers medical expenses. . It is designed to improve the welfare of employees as well as buffer the financial strain in the event of bodily injury, accident or death of a member of staff.
The policy can be taken as an individual or for a group of persons. When the policy is taken by an individual it is refers to as Personal Accident Policy. When it is taken by at least two or more persons of the same group e.g. social club, member of same family, employees in common employment etc. it is referred to as Group Personal Accident Policy. Death or injuries from natural causes are not covered.