Public & Products Liability
What is public liability insurance?
What is product liability insurance?
Product liability insurance is designed to help protect your business if you’re sued because a product you sell, assemble or supply has caused harm to a person or property.
Who should consider it?
Did you know?
The number of public and product liability risks written by Australian insurers in the 2019 underwriting year.
The number of public and product liability claims made in the 2019 underwriting year in Australia.
(in AUD) The total value of public and product liability claims in the 2019 underwriting year in Australia.
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What can it cover?
It will generally pay your costs of investigating, defending and settling claims, as well as any compensation payment you are found legally liable to pay.
Depending on your policy, public and products liability insurance can cover:
What usually isn’t covered?
Policies generally won’t include cover for:
Cost of rectifying faulty workmanship
Damage to your own product
Claims by employees
Claims arising out of the use of a registered motor vehicle
Claims related to asbestos
They file a class suit against George to compensate them for the injury.
Luckily, George’s policy covers him for the costs of going to court and the damages awarded to the customers.