Liability insurance cover is usually attached to employers and organisations In many countries it a legal requirement that a business is covered with a liability insurance policy. The cover is a safeguard against costs and claims incurred by an employer for injuries and damages to an employee during work time and or a social gathering.
Companies operating in most countries are legally obliged to take out liability cover as a compulsory form of insurance. The more common form of cover applies to drivers of vehicles and employed by a company. The premise behind public liability insurance is for an employer to be insured against the risks of an employee being injured whilst in the work place the same applies to an employee using a company owned vehicle. Many policies now cover against contingency fee litigation. Policies fall into three main categories:
1. Public Liability Insurance
Insures against the costs incurred by the company should a person or persons sustain injury or harm whilst on the company premises a common example of this form of cover is large shopping malls and theatres, cinemas ext.
2. Product Liability Insurance
Insures against the costs that may incurred by a manufacturer should their product cause injury and in the subsequent inquiry be found to not be safe
As you can imagine claims can be substantial.
3. Employers Liability Insurance
Covers the risks and costs should an employee of a company be injured whilst working for or on the company premises. Again these sorts of claims can be substantial. And cover is generally advised where it is not compulsory.
If your now ion the process of looking for suitable Liability cover for your company. It is worth noting that large savings can be made through online deals this has further been helped by a growth in the number of online insurance comparison sites where specialist information and price comparisons can be found all in one recourse. It's also worth noting that insurers often offer the extra incentive of discounts on policies bought online. If your in need of new cover for your company then why not Compare Liability Insurance now.