Published: 25/04/10
It is more important than ever before for businesses throughout the UK to purchase public liability insurance due to the recent increase in claims being filed. Every business, regardless of its size, needs this type of insurance that can be tailored to its specific risks and requirements.
Mishaps involving customers slipping or falling are among the most common type of accidents which can result in a public liability claim. In the case when a warning sign is not in place at the site of a spill on a store floor for example can result in a customer falling and becoming injured wherein a claim can be filed seeking compensation.
Public liability insurance covers these costs for businesses. This type of insurance protects businesses in the event that someone sues for damage or injury caused due to negligence on the part of the business. It does not provide coverage for the direct employees of the injured business if they should hurt themselves.
Recently the Health and Safety Executives (HSE) told businesses that they should encourage their employees to become involved in risk management in the workplace. This new 'Do Your Bit' campaign is being encouraged so that staff becomes actively involved in workplace safety. It will run for one year and will offer companies free or subsidised training courses to assist in getting their staff more involved in improving standards at work.
For the self employed individual it is generally thought that a £1 million limit is adequate for the insured sum. Most tradesmen take a ￡2 million sum while mid size companies generally go with ￡2 million to ￡5 million insured sums so that they are covered in the case of a serious personal injury. There are in fact many insurers that offer excesses of ￡100 million and it all depends on the trade and the type of work a business carries out.
Flint Insurance are commercial insurance specialists. Get an instant online public liability insurance quote or call 0800 021 4504 for further details.
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