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Liability Insurance Options:
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Like it or not, the best laid plans and intentions can sometimes go wrong. Make sure that you are properly covered for any product, service or delivery malfunctions or mishaps that could cause injury or damage!
You need to protect yourself from legal disputes that have the potential to stop your business activities in their tracks! Don’t ever think it can’t happen to you! There are several distinct types of liability insurance you need to consider, depending on the focus and primary income source of your business.
Public Liability Insurance: Public Liability insurance protects you and your business against your legal liability to a third party for death or injury, loss or damage to property resulting from your negligence.
This can be devastating for all concerned. So remove the added trauma and financial pressure by being properly insured.
Product Liability: If you sell, supply or deliver goods, even in the form of repair or service, you need cover for when something goes wrong.
Product Liability insurance covers your legal liability for property damage or injury caused to another business or person by your product or the product you are selling.
Professional Indemnity Insurance: Professional Indemnity insurance protects you from legal action taken for third party losses incurred as a result of your advice.
It provides cover if your client suffers a loss directly attributed to your negligent act, error or omission.
Directors and Officers Liability Insurance: These days it is not just directors of public companies that are exposed to personal liability. Directors and officers of private companies are also at risk for breaches of the duties they owe.
Again, a simple act, error or omission can be enough to spark a claim against you !!
Statutory Liability Insurance: This is designed to protect your company and its directors, officers and management, from financial losses as a consequence of an unintentional breach of an act or regulation. It covers fines and penalties in case of a breach of Australian legislation (Commonwealth, State, local Government)
Your ability to overcome the financial setback will directly impact your future earnings. This can be devastating for all concerned. So remove the added trauma and financial pressure by being properly insured.
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